The Jakarta Post
Private insurer PT Zurich Topas Life has teamed up with Bank Mayapada to sell its new endowment policy, Zurich Pro-Fit 8.
Zurich Topas Life chief partnership officer Yusuf Budi Baik said on Monday that Zurich Pro-Fit 8 had been launched at the end of 2016 but only marketed through an agency scheme.
In 2017, sales of the product grew 304 percent.
"We want to sell the Pro-Fit 8 in the smart professional segment. Hopefully, the sales can contribute up to 5 percent to our total bancassurance portfolio," he said during a press conference in Jakarta.
To get the Pro-Fit 8 service, customers were only required to pay for eight years to get protection benefits for 20 years, Yusuf said, adding that, if there were no claims during the protection period, customers could get 120 percent of their total investment.
"The product is ideal for young people who want to start investing as soon as possible," Yusuf said.
Bank Mayapada product and e-channel director James Wang Tien Chen said the Pro-Fit 8 product would help the bank get more young customers. "Bank Mayapada customers are already familiar with investment and protection products, but this partnership aims for a new segment," he said. (bbn)