Medan, 11 October 2016 – PT FWD Life Indonesia (“FWD Life”) today officially opens its marketing office in Medan, North Sumatera. The opening coincides with Indonesia’s annual Insurance Day, which illustrates FWD Life’s commitment to contribute to the government’s goal to increase the low life insurance penetration in Indonesia, which currently stands at only two percent by helping to improve understanding and education on the importance of insurance across various segments. Furthermore, the effort taken by FWD Life is one of the Company’s business development strategies through geographical expansion to reach greater numbers of Indonesian customers.
The marketing office opening in Medan signifies FWD Life’s effort in increasing market penetration in western Indonesia. Medan the first city FWD Life entered in Sumatera and is the 6th marketing office following the opening of FWD Life offices in 5 major cities in Indonesia, namely Jakarta, Surabaya, Semarang, Bandung and Denpasar.
FWD Life President Director Rudi Kamdani explained, “We are happy and privileged to mark FWD Life’s footprint in North Sumatera. This region has high potential for FWD Life due to its staggering economic growth of 5.3 percent in the first half of 2016. As FWD Life continues its effort to give the best product and service innovations to meet the needs of the people of Medan and North Sumatera, they will be able to familiarize themselves with insurance in an easy, simple and fast manner,” said Rudi Kamdani in Medan (11/10).
Rudi added that running a business in Medan has its own set of challenges considering the relatively low insurance penetration in the region. However, FWD Life turns this challenge into opportunities by exploring a range of innovations based on the different needs of the various elements of the people in Medan. Predominantly speaking, considering the region’s strong magnitude for tourism sector, reinforced with the recent President Jokowi’s visit during Danau Toba Charms Carnaval, it has become the manifestation of the government’s commitment to developing North Sumatera as the chosen tourism destination.
“Observing this potential, FWD Life will utilize innovative technology to maximize the potentials in Medan, thus reducing the gap created by the low insurance penetration in Indonesia. As a pioneer in paperless insurance sales platform, FWD Life aims to change the way people feel about insurance,” said Rudi. Moreover, the region also represents an opportunity for digitally-enabled insurance companies such as FWD Life as indicated by the Indonesia Service Provider Association of North Sumatera’s data which showed that Sumatra region is the second largest Internet base in Indonesia with 3.5 Internet users as of 2014 – representing massive opportunities for digital-based insurance companies.
FWD Director & Chief Agency Officer Life Hendra Thanwijaya commented, “FWD Life’s technology also gives more flexibility to agents, allowing them to be more dynamic in conducting business with customers. Our technology and the digital platform are the main foundation for our agents to execute their tasks optimally when serving FWD Life customers, especially in Medan,” said Hendra.
FWD Life Promotes Sustainable Business to Young Entrepreneurs
FWD Life believes that people should pursue their passion to live life to the fullest. This includes young people who have started their business at an early stage. Moreover, fact shows that the number of small and medium businesses in North Sumatera has grown positively by 6.53% in 2014, an increase from 2.8 million in 2013 to 3 million enterprises in 2014 . In light of this and in conjunction with the commemoration of Insurance Day, FWD Life takes the initiative to reach out to young entrepreneurs (youngpreneurs) in Medan to provide education on “Financial and Business Management” by conducting Bebas Berbagi Class.
The education session aims at providing youngpreneurs in Medan with knowledge on how to build and grow their small businesses sustainably as well as how insurance can take part in ensuring protection throughout their business and life cycle. This initiative is held in collaboration with the largest online communities, namely Kompasiana and DreamLab, Brand and Retail Strategy Consulting that focuses on helping start-up companies strengthening their brand.
Rudi Kamdani said, “FWD Life is trully passionate about supporting and motivating youth and people at the productive age in pursuing their passion. We want to seize this momentum of entering Medan as one of the fast growing cities in Indonesia by reaching out to people who are passionate about growing their business. We believe young entrepreneurs will be the next generation that are capable of building and growing the country’s economy further and we want to be the partner that can assist them throughout their life stages.”