Sinarmas MSIG Life said the inauguration of the new agency office provided evidence of the company’s commitment to penetrating the life insurance market by strengthening the agency distribution channel in the Bali region.

“In Indonesia, the agency channel has become the primary option for the public in gaining access to information and purchasing insurance products. Moreover, Bali ranks fifth in the Financial Literacy and Inclusivity Index, which means the Balinese people have high insurance awareness. With the regional economic growth of 8.09 percent, the local economy is becoming stronger in the wake of the pandemic. Bali continues to be a tourist destination of choice, which contributes to propelling the economy,” said Sinarmas MSIG Life’s President Director Wianto in his remarks during the opening ceremony.

“For that reason, we opened a second office in the form of an AKM in Bali to enable the local people to own financial protection more easily from Sinarmas MSIG Life,” he said in a statement.

The inauguration was marked by the cutting of a ribbon and releasing of balloons, which enlivened the event.

Yeny Dewi Krismawati, who owns an AKM, attended the inauguration of the office and was accompanied by the Agency Business Head Ferry Tjong and other invited guests.

According to the company, the opening of the AKM is expected to spur business growth in Bali amid the dynamic and attractive market.

In 2022, the company’s agency distribution channel experienced a good performance, with a growth of more than 250 percent. A range of innovative products for short, middle and long-term financial planning are available in both conventional and sharia types in order to fulfill the growing need of customers, according to the company. 

Sinarmas MSIG Life is a joint venture between PT Sinar Mas Multiartha Tbk and Japan’s giant insurance group, Mitsui Sumitomo Insurance Co., Ltd.

Sinarmas MSIG Life’s director, Herman Sulistyo, stated “We are aware of high diversity in terms of the segment and need of the Balinese people. We provide complete services with solutions to financial planning for the high-net-worth segment, or mass market, health protection and future financial planning goals. As part of Japan’s biggest insurance group, Mitsui Sumitomo, Co., Ltd, our digital support is also very strong through the provision of an integrated application for customers and marketing personnel that can be accessed anytime and anywhere.”

For the past three years, the company has been conducting digital transformation and developing more innovative products. Customers can reach policy-related insurance services through a digital application called VEGA by Sinarmas MSIG Life, which has made it easier to implement the process of sale and service.

The AKM YDK Agency itself is complete with digital infrastructure, enabling it to serve as the hub for the marketing personnel in their activities.

The facility provides evidence of the company’s commitment in providing the best service for customers and attracting the young generation to make it easier to have an insurance product, according to Sinarmas MSIG Life.

Business-wise, the YDK Agency has become Sinarmas MSIG Life’s partner since 2022 and now has spread its wings to Bali.

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