Pandemic Could be a Golden Opportunity for the Insurance Industry. Here’s Why. PT Asuransi Allianz Life Indonesia considers that the coronavirus pandemic condition is a golden opportunity for the industry to market health insurance products, in line with education efforts on the importance of protection.
Allianz Chief Marketing Officer Karin Zulkarnaen said the current situation was the right momentum for insurance companies to raise public awareness of protection. One of the products that can be highlighted is health insurance.
The Company is recorded to have successfully increased the acquisition of health insurance premiums during the Covid-19 pandemic. In the third quarter of 2020, health insurance premiums amounted to Rp496 billion, an increase of 42.3 percent (year-on-year/yoy) compared to the third quarter of 2019 of Rp348.5 billion.
“We remain confident that the need for insurance remains high in the midst of a pandemic. Therefore, we continue to increase understanding of products and services so that business growth can also increase,” Karin told Bisnis, Wednesday (11/18/2020).
According to him, the company’s premium income is strongly influenced by business initiatives that suit customers’ needs. This year, Allianz launched a number of new, more relevant insurance and rider products.
In addition, according to Karin, optimization of all sales channels is crucial during the current Covid-19 pandemic. Allianz itself has four marketing channels today, namely agents, bancassurance, corporate sales, and digital.
Until the third quarter of 2020, the German company posted a total gross premium of Rp10.86 trillion. This amount increased by 28.45 percent (yoy) compared to the third quarter of 2019 premiums of Rp8.46 trillion.
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Bisnis Indonesia together with 3 media are raising funds to help medical personnel and citizens affected by the coronavirus that is distributed through the Lumbung Pangan Indonesia Foundation (BNI Account: 200-5202-055).