BTN Holds FWD Provide Bancassurance Services

INDUSTRY.co.id - Jakarta- PT Bank Tabungan Negara Tbk (BTN) and insurance company PT FWD Life Indonesia work together to provide bancassurance or insurance products marketed through banks.

"We've done a lot of bancassurance cooperation, but this time has a characteristic because the premium is sold to the public minus Rp100 thousand," said President Director of Bank Tabungan Negara Maryono at Bank BTN Tower Headquarters, Jakarta, Friday (22/09/2017)

Maryono said the bancassurance cooperation initiative for BTN is to increase fee-based income and build human resource capacity.

"We also invite more cooperation with FWD, which is how to improve the ability of employees to have a marketing soul as an agent or sales staff," he said.

Maryono also asked FWD to become a consultant in the process of establishing a life insurance company by BTN.

Meanwhile, FWD Life Choo President Director Sin Fook said his bancassurance partnership with BTN supports government programs in encouraging financial inclusion.

"We are committed to providing the widest access to financial products," he said.

Choo also said bancassurance cooperation is done at the right moment when there is a strengthening of economic growth in line with improved macroeconomic conditions.

"The life insurance industry posted positive performance in the first quarter of 2017, a premium of Rp57 trillion, an increase of 16.4 percent over the same period last year, reflecting the public's trust in protection given life insurance," he said.

The bancassurance product launched by BTN and FWD Life is "Free Plan Plus" which provides certainty of protection and premium return.

The product only enforces two exceptions, suicide attempts and lawlessness.

"This is suitable for our existing passionate BTN customers to extreme sports.We are optimistic that this partnership will continue through excellent products," Choo said.