Astra Life Collaborates with PermataBank : Digital Insurance Market

Consumers’ awareness of the importance of financial management has increased during a pandemic. This is like opening up new opportunities for players in the industry to continue to develop their services.

PermataBank is taking a collaborative step with Astra Life to introduce a new bancassurance product . The product called AVA iFamily Protection in the PermataMobile X application targets the family insurance market that can be accessed digitally. The presence of bancassurance is claimed to make it easier for Indonesian families to get protection.

“This product is Astra Life’s search for improving digital services for customers. We focus on the product excellence of the premium return feature of 100% even though we have made claims so that it does not burden the family’s finances, “said Ancilla Lily, Head of Bancassurance & Direct Business of Astra Life.

Public awareness of insurance products during the pandemic was recorded to have increased. Data from Nielsen states that people in big cities have increased awareness of having life insurance products by up to 24% compared to before the pandemic. Meanwhile, data from the Indonesian Life Insurance Association (AAJI) in March 2021 revealed that the total premium income for life insurance in the third and fourth quarters of 2020 increased by 81.7%. The health claim payment figure also rose to Rp 9.88 trillion in the same quarter.

The collaboration between PermataBank and Astra Life is a continuation of the six years of cooperation that has been established. In the previous e-bancassurance cooperation at PermataMobile X, the two companies recorded an increase in sales of more than 700 times at the end of the second semester of 2020.

“This means that insurance products that suit their needs with an easy purchasing process are what customers want. Moreover, this pandemic has made various accesses in life digital, ”added Ancilla.

AVA iFamily Protection offers health protection with the benefit of dying due to illness and accidents. This Bancassurance provides inpatient and inpatient ICU benefits of up to Rp 3 million per day. Not only that, AVA iFamily Protection also offers outpatient benefits.

As family insurance, one AVA iFamily Protection policy is valid for one family with a maximum number of five people insured. Customers can choose premiums starting from IDR 500,000 per year.

“With the convenience customers want, we ensure this product is seamless with the electronic insurance policy feature which is sent via e-mail address . We ensure that Astra Life and PermataMobile X customers can have an easy protection experience by presenting product innovations, “concluded Ursula Sista Pravesthy, Head of Wealth Management Retail Liabilities Products & Customer Segment PermataBank.

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