Major Germany-based insurer Allianz and Maybank of Malaysia have entered a 10-year bancassurance deal in Indonesia.
The partnership combines Maybank’s wide distribution network and reach of over four million customers in Indonesia with Allianz’s expertise and top-of-the-line products.
“This partnership demonstrates Allianz’s continued focus on growing in the Asia region, of which Indonesia is a key priority. We’re excited to bring our multi -channel approach, innovative products and digital expertise to serve the protection needs all Maybank customers,” said George Sartorel, Allianz regional CEO for Asia-Pacific, in a statement.
Alongside the launch of the partnership, Allianz and Maybank have released three jointly developed life insurance products, based on the profiles and needs of Maybank’s clients. These are:
- MyProtection Bijak: A Shariah-compliant unit-linked life insurance product
- MyProtection Prima: Combines protection and investment in one easy solution
- MyProtection Investa: Single-premium investment product
More products are set to be launched soon, according to the ever-changing needs of customers. Allianz also plans to implement its proprietary digital sales platforms for Maybank clients, to strengthen customer engagement and satisfaction. A team of over 150 dedicated insurance advisers will be stationed at Maybank branches to assist customers with their concerns.
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