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Hanwha Life Indonesia eyes 93 percent increase in premium income
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The Hanwha Life logo (Courtesy of/businessnewsasia.com)
H
anwha Life Insurance Indonesia, a local unit of South Korean insurance giant Hanwha Life, has targeted a 93 percent increase in its premium income, from Rp 209 billion (US$ 15.68 million) in 2016 to Rp 403 billion this year.
“The total premium income from agents, bancassurance and corporates are consecutively Rp 128 billion, Rp 25 billion, and Rp 250 billion,” Hanwha Life Indonesia deputy chief agency officer Marcello Twijsel said during the Hanwha Indonesia new program and product launch.
Meanwhile, Hanwha Life Indonesia chief bancassurance and agency officer director Henry Januar said on Wednesday that to achieve the target, the company would open six other sales offices in Medan, Pekanbaru, Palembang, Jakarta, Solo and Makassar in addition to the 12 existing sales offices.
“We aim to have 4,631 agents by the end of 2017 from 3,330 agents we have currently,” Henry said.
He further said Hanwha Life Indonesia would launch three other new products this year, following Hanwa Health Protection launched on Wednesday.
“Two products have been approved by the Financial Services Authority (OJK) and the other one is in process of application. And there are two other bancassurance products to be launched this year,” Henry said.
Henry said Hanwha Life Indonesia targeted to gradually take all of its agents on full time, with all of them full time in 2020 and earning at least Rp 5,000,000 a month.
To become a full time agent, existing and trainee agents will be given Hanwha Financial Planner training in cooperation with Financial Planning Standard Board (FPSB) Indonesia, he added. (dra/bbn)
