Great Eastern General Insurance Indonesia Expand Retail Market in Collaboration with Bank BTPN
Jakarta, September 12, 2023 – Indonesia's economic activity is starting to rise again. The Central Bureau of Statistics recorded economic growth in the second quarter at 5.17%. The return to normal mobility encouraged public consumption which grew by 5.23%.
Economic conditions that have begun to improve are the momentum for Great Eastern General Insurance Indonesia (GEGI) to expand its business in the retail sector. One of them is by focusing on developing distribution channels through the bancassurance segment. Therefore, GEGI continues to add collaborations with several banks in the country. Most recently, GEGI collaborated with PT Bank BTPN Tbk (Bank BTPN) as a new bancassurance distribution partner.
The collaboration was marked by the signing of a cooperation agreement attended by Mr. Jeffrey Tjoeng, Head of Business Banking of BPTN Bank, and Ms. Linggawati Tok as Marketing Director of GEGI. Linggawati hopes that through this collaboration, GEGI can reach bank and insurance product services simultaneously, so GEGI can meet the demand and needs of all micro, small and medium enterprises (SMEs) to various regions throughout Indonesia.
"In the future, GEGI is committed to continue prroviding innovative products in order to serve the needs of the wider community," said Linggawati.
In line with Linggawati, Jeffrey said this collaboration will make a significant change, both for GEGI Bank BTPN customers.
"Bank BTPN is committed to continuing serving customers from various segments to meet their financial needs. The collaboration also proves our participation in the government's program to achieve sustainable development goals by supporting the growth of small and medium enterprises in Indonesia," said Jeffrey.
The synergy between GEGI and Bank BTPN begins with six products, namely industrial all risk insurance, earthquake insurance, marine cargo insurance, motor vehicle insurance, contractor all risks insurance, and contractor's plants and machinery insurance. These products are specifically for BTPN customers who need to protect their businesses and assets.
Customers can access these insurance products through loans or credit at Bank BTPN. If they want to collateralize or finance their property, Bank BTPN will offer GEGI insurance to protect their assets. "We hope that our partnership with Bank BTPN can free our customers from worry and fear about their mortgaged assets," said Linggawati.
Supported by BTPN's Bank branch network and extensive customer reach, GEGI believes the partnership will strengthen its commitment to serving the needs of its customers and the people of Indonesia.