Scribd
Upload
71 views1 page

SME Insurance

1) Zurich Topas Life, an insurance company from Switzerland, launched two credit life insurance products called ProteksiKu and ProteksiKu Tetap in collaboration with PT Bank CTBC Indonesia to target the small and medium enterprises (SME) sector in Indonesia. 2) The products provide life insurance coverage for SME business owners against the risk of death during the credit period, allowing the business to continue operating if the owner passes away. 3) As only 22% of the 57.88 million SMEs in Indonesia currently have access to financial services including insurance, Zurich Topas Life aims to penetrate this market segment through quick win programs that educate SMEs on business risks and the advantages of

Uploaded by

Fauzan Luthsa
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
71 views1 page

SME Insurance

1) Zurich Topas Life, an insurance company from Switzerland, launched two credit life insurance products called ProteksiKu and ProteksiKu Tetap in collaboration with PT Bank CTBC Indonesia to target the small and medium enterprises (SME) sector in Indonesia. 2) The products provide life insurance coverage for SME business owners against the risk of death during the credit period, allowing the business to continue operating if the owner passes away. 3) As only 22% of the 57.88 million SMEs in Indonesia currently have access to financial services including insurance, Zurich Topas Life aims to penetrate this market segment through quick win programs that educate SMEs on business risks and the advantages of

Uploaded by

Fauzan Luthsa
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
You are on page 1/ 1

Step to Quick Win Credit Life Insurance To Penetrate The SMEs

market in Indonesia

JAKARTA - Monetary crisis that hit Indonesia since July 1997 make many companies
go into liquidation. Indonesia economic matters has collapse because most of
economy domestic sector has sprawl. But not all sector has fallen. Small and
medium enterprises (SME) hand over strategic role in that crisis moment. SME is
informal sector not considered at New Order regime, have an advantage who does
not owned by big companies. Small and medium enterprises (SME) is business type
which is prompt recovery from economy crisis than big business scale fallen in that
moment. This sector can covering unemployee gap number with efficient, beside
they are pioneer innovation and flexible so that sector can fulfill customers need.
This matter parallel with research which is doing by Mehmet Demirbag researcher
from University of Sheffield Management School in the year of 2006 * (Total Quality
Management -TQM- and market orientation's impact on SMEs' performance).
SME sector that has been growing rapidly inviting banking and financial industry
start to look SME. Dont want to fall behind, insurance industry also want to tasting
benefit from SME business growth. Even though this sector relatively small, but their
consistency to survived in economy crisis and capital intensive, create growing
profit SME stabil. So whats the relevance to insurance industry look in this sector?
Even resilient to exposure crisis, theres one SME weakness which sustained by
insurance industry. All this time SME business have dependence to the owner and
when undesirable happened with owner, then business will collapse. It is at the
Zurich Topas Life concern. Collaborate with PT Bank CTBC Indonesia, insurance
company from Switzerland launched 2 product bancassurance credit life insurance
ProteksiKu and ProteksiKu Tetap. With bancassurance product, SMEs which is Bank
CTBC Indonesia client will get insurance life against risk pass away during credit
period. Recently President Director Zurich Topas Life Peter Huber reveal why go in
this sector. According him SME have high dependency with owner. With credit life
insurance, SME can focusing to business development. Zurich Topas Life catch this
chance because recently not widely available product selection insurance
appropriate with SMS need.
As a note, currently only 22 percent from total 57,88 million SMS in Indonesia have
accesss to financial services, including protection. To penetration this segment,
insurance company better prepared quick win program to add on client from SMSs.
It takes a quick win measures so that the two products can be widely accepted by
SME's. SME will need to be informed and educated on various risks which poses
threat to the business without the credit life insurance as well as the various
advantages provided by the credit life insurance program. To strategically introduce
ProteksiKu and Fixed ProteksiKu and how it will help to shield the SME from the
introduced risks and how it will provide the advantages. With this strategy, to be
expected Zurich Topas Life can contribute to protect SMEs business in Indonesia. (*)

You might also like