Batam, February 16, 2017 – PT FWD Life Indonesia (“FWD Life”), a digital-based life insurance company has officially opened its 8th marketing office in Batam, Riau Islands. This step is FWD Life’s commitment in expanding the coverage of the insurance market in Western Indonesia where FWD Life previously built its presence in Medan, North Sumatra and Palembang. Batam is a strategic region in supporting FWD Life in touching more Indonesians, thus propping up the company’s business especially in increasing FWD Life’s services and product penetration and also the number of its agents.
FWD Life President Director Rudi Kamdani said, “FWD Life has recorded positive business growth since it was first established in 2014, thus triggering the company’s need to continue to expand into several major cities, one of which is Batam. Our presence in Batam is aligned with FWD Life’s vision to “change the way people feel about insurance” by providing a different customer experience, with products that are easy to understand, supported by digital technology.
With its presence in Batam, FWD Life hopes that the company can refine its reach to 1.9 people in Riau Islands, especially the 1.3 million citizens in Batam that play an instrumental role in propping up Indonesia’s economic growth, especially Riau Islands. As of the second trimester of 2016, Riau Islands booked strong economic growth, up 5.40% from the same period last year of 4.54%
Rudi added that with trustworthy agents and technological innovations proprietary to FWD Life, the insurance process will become easier and simpler – it can also be done at anytime, anywhere in an island setting like this. Thus, in parallel with the Financial Services Authority (OJK)’s efforts, the company is expected to be able to assist the improvement of insurance literacy and inclusion across Riau Islands.
FWD Life Director & Chief Agency Officer Hendra Thanwijaya said that thus far, FWD Life has approximately 100 licensed agents and is planning to inflate this number up to 500 licensed agents over the next 1 year. Furthermore, in Batam, FWD Life has a number of financial planner members with international accolade for their extraordinary achievements in the life insurance profession or the Million Dollar Round Table (MDRT).
The agents’ maneuvers will be more effective supported by FWD Life’s digital technology use which will make it easier for Indonesians to obtain insurance faster, easier and in a simpler way. This is supported by a survey by Indonesian Internet Service Providers Association (APJII) which revealed that more than the number of Internet users in Riau Islands accounts for 19% of the total number of Internet users in Sumatra.
“FWD Life’s proprietary digital technologies, one of which is Digital Agency, which is a comprehensive mobile application allows agents to perform insurance processes faster and easier. This is feasible with the support of an efficient product selling application, M-Commerce and an application containing training modules (M-Training) thus enhancing their career as FWD Life agents. Moreover, on the mobile application Digital Agency, there is M-Recruitment, a recruitment process application which provides online registration services, database management and learning modules for agent recruitment. This approach can help minimize the public gap in obtaining insurance, especially in island setting like this,” Hendra said.
Hendra added, as one of the cities which recorded significant economic growth, Riau Islands, especially Batam, offers a new opportunity for FWD Life to penetrate the market. Especially considering that the public’s need for unit-linked products will continue to increase and FWD Life is ready to serve and grow along with the market. FWD Life’s unit-linked products like Sprint Link Plus & Bebas Ikhtiar with health, death and incident riders will enrich customers’ options in preparing their insurance protection.