Overview of the Company's Business Operations

BlueVenture Group Public Company Limited (“the Company” or “BVG”) formerly known as EMCS Thai Company Limited. It was established on November 22, 2000, with authorized and paid-up capital initially in the amount of 10 million baht arising from a joint venture between Thai Reinsurance Public Company Limited (“THRE”), Thaire Life Assurance Public Company Limited (“THREL”), Pac Total Solutions Sdn. Bhd. which is a Malaysian company and Mr. Thongchai Panumaporn. The objective is to operate a business providing a full-service platform and application for motor insurance claims management, the service system is the EMCS (Electronic Motor Claim Solution), later in 2017, THRE increased its shareholding in the Company from 25.00% to 100.00% of the total shares of the Company. As the Company foresees the opportunity to operate a platform and an application service business for a complete motor insurance business management system (EMCS system), therefore acquired all shares from the existing shareholders.

• In 2017, THRE increased its shareholding in the company from 25.00% to 100.00% by acquiring all shares from existing shareholders. This decision was driven by the company’s vision to expand into platform and application services for comprehensive automotive insurance business management (EMCS system).
• In 2021, The group successfully completed its corporate restructuring, which involved the transfer of subsidiaries from THRE, including BVTPA and BVA, and the acquisition of BVTECH from BVTPA. The restructuring was undertaken to streamline business segmentation, enhance management flexibility, and maximize operational efficiency in preparation for BVG's listing on the stock exchange.
• In 2022, The company was converted into a public limited company and renamed to BlueVenture Group Public Company Limited (BVG). The par value of common shares has been changed from 5.00 baht per share to 0.50 baht per share and the Company's registered capital has been increased to 225.00 million baht, consisting of 450.00 million common shares with a par value of 0.50 baht per share.
• In 2023 BVG successfully conducted its Initial Public Offering (IPO), issuing and offering 157.50 million common shares with a par value of THB 0.50 per share on the Stock Exchange of Thailand (SET) under the stock symbol “BVG.”

The Company is the first and the leader in providing platform and application services for business management related to motor insurance (“EMCS system”) in Thailand with expertise in the development of a solution platform for the automotive insurance industry, innovative systems, and technologies that cover processes and connect the value chain of the motor insurance business, making it possible to provide a platform system and an application to manage insurance claims automatically, since the initial process of car accidents, compensation considerations, including the process of final settlement. The Company places importance on continuous platform development, especially the Company's main platform including a car claim management system (e-Claim), which is a system for recording insured information, policies and car damage and can offer and approve the repair price as well as placing invoices. In addition, the Company has expanded its platform and application services to cover all other processes of the motor insurance business, such as spare parts purchasing system (e-Part), garage management system for cash type customer (e-Garage), surveyor management system (M-Survey) and mobile application that includes services for all vehicle usage (CarMate). The Company is the industry leader and expert in Thailand in providing platforms and applications for Electronic Motor Claims Management Solution (EMCS Platform) This gives the Company a competitive advantage and the opportunity to generate income continuously.

In addition, the Company has a business providing operational support services to the insurance business by operating through 3 subsidiaries, The Company holds shares in all 3 subsidiaries in the proportion of 100.00% of the authorized capital and has fully paid already. In addition, it operates through one company, Blue Venture TPA Co., Ltd., and two joint ventures in which the Company holds shares in proportion, namely:

1. BlueVenture TPA Company Limited (“BVTPA”), formerly known as Thaire Services Company Limited which was established in April 2006 to provide management and advice on healthcare benefits and claims management services. Including providing relevant advice through platforms and applications (Third Party Administration Services or TPA Services) which provides a wide range of outsourcing service solutions to insurance companies and self-insured corporations. In addition, BVTPA provides advice, training, and other operational support services to affiliated companies in the BVG group, including THRE and THREL.
2. BlueVenture Actuarial Company Limited (“BVA”), formerly Thaire Actuarial Consulting Company Limited, was established in January 2011 to operate an actuarial consulting business
3. BlueVenture Tech Company Limited (“BVTECH”), formerly Thaire Innovation Company Limited, was established in December 2016 to provide information technology innovation services such as digital platforms, platform development services and providing consulting services, and providing system maintenance.
4. CambodiaRe BlueVenture Co.,Ltd was established on September 5, 2023 to operate a business providing management of medical benefits and compensation. Including related counseling and advice through platforms and applications in Cambodia. The Company holds shares in the proportion of 49.00 percent of the registered and paid-up capital.

At the Board of Directors Meeting No. 6/2024, held on December 16, 2024, a resolution was passed approving the joint venture in the establishment of a new company. The investment proportions are between BlueVenture Group Public Company Limited (35%), Ditto (Thailand) Public Company Limited (35%), Sitem Corporation Limited (20%) and Netbay Public Company Limited (10%) which the newly established company, named Data Tech Transformation Company Limited, aims to develop a platform supporting Garage Lending, provide consultancy services related to Third-Party Administration (TPA), offer advisory services on claims management for Cyber Insurance, and/or engage in Carbon Credit expertise. These business activities will leverage innovations and advanced technologies derived from the expertise of the joint venture partners. Currently, the company is in the process of being established.

At present, the group of companies has adopted new technologies to suit its service model, constantly enhancing the quality of products and services and creating the possibility of earning future revenues. The Company has developed Artificial Intelligence (AI) technology to increase the efficiency of motor claims management, which will help our customers reduce the whole claims process and reduce cost of claim management. In addition, BVTPA has developed a mobile application platform called TPA Care Application for users of TPA services that can be connected to and utilized to immediately provide services to policyholders. This platform was created for TPA service users, insurance companies, and general organizations that manage own employee benefits (self-insured). This saves time, steps, and money by making automatically instead of by manually.