AXA Mandiri harnesses online partnerships to expand reach

Firm has deals with a variety of companies to spread awareness of the brand and attract new customers

AXA Mandiri harnesses online partnerships to expand reach

Insurance News

By Gabriel Olano

Indonesia-based insurer AXA Mandiri has partnered with several online platforms in a bid to expand its customer base in an increasingly interconnected society.
The insurer, a joint venture between French insurance giant AXA and Bank Mandiri, Indonesia’s largest bank, currently has agreements with five companies: internet forum Kaskus, e-commerce portal Lazada, telecoms operator Smartfren, payments gateway Midtrans, and flag carrier airline Garuda Indonesia. The company has plans to add 15 more partners this year.

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“We place our products on our partners’ platforms so that people can have easy access. They usually contact us for further information,” AXA Mandiri alternative channel director Henky Oktavianus told The Jakarta Post. He added that these partnerships have brought in around 3,000 potential customers.
Oktavianus also revealed that AXA Mandiri’s digital platform, called Social Media Comment Center (SMCC), which was established in 2015, was able to bring in valuable input for future product design by monitoring online discussions about insurance. SMCC cost INR2 billion (US$150,000) to set up.
AXA Mandiri has a market share of 18.8% for bancassurance with 3.7 million customers, according to data from the Indonesian Life Insurance Association. The insurer markets its policies through a network of over 2,000 financial advisers in 1,500 Bank Mandiri and 700 Bank Syariah Mandiri branches.

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