Sequis Life marks 40 years of service in Indonesia

Insurance boss reveals how company has remained resilient for decades

Sequis Life marks 40 years of service in Indonesia

Life & Health

By Roxanne Libatique

PT Asuransi Jiwa Sequis Life (Sequis Life) has celebrated its 40th anniversary with an event named “40 Years Protecting Indonesia” at Hutan Kota by Plataran in Central Jakarta.

Sequis Life operates under the Gunung Sewu Group, which has a history spanning more than 70 years. It also has a strategic partnership with Nippon Life, a Japanese life insurer that recently agreed to buy part of American International Group’s (AIG) Corebridge stake for a whopping US$3.8 billion.

Sequis Life’s 40th anniversary celebration

According to The Jakarta Post, the event saw the attendance of over 700 individuals associated with the company. It also marked a decade of strategic partnership between Gunung Sewu Group and Nippon Life.

Sequis Life president, director, and CEO Ted Margono highlighted the milestone by cutting a ceremonial tumpeng, a yellow rice cone.

Nippon Life managing executive officer and head of global business Minoru Kimura and Sequis Life president commissioner and shareholder representative Husodo Angkosubroto participated by blowing out birthday candles.

How did Sequis Life remain resilient in 40 years?

In his speech, Margono discussed Sequis Life’s resilience in facing industry competition and the challenges of the COVID-19 pandemic over the past four decades.

He credited the company’s success to consistent policy persistence and product alignment with customer needs.

“We consistently implement good financial and operational management practices by applying prudent underwriting risk management for the long-term sustainability of our business. Our customers’ loyalty is high in entrusting their and their families’ protection to Sequis Life because Sequis’ insurance products are relevant and meet the needs of customers, with integrity marketers and quality customer service,” he said, as reported by The Jakarta Post. “In addition, the tradition of family [at Sequis Life] creates enthusiasm for employees and marketers to provide the best for all stakeholders.”

The celebration, themed “40 Years Protecting Indonesia,” aims to emphasise Sequis Life’s status as a trusted insurance provider and a preferred choice for family health protection in the community.

Sequis Life boss calls for continued support

Margono called for continued enthusiasm from Sequis Life’s extended family, including shareholders, employees, business partners, and marketers, to support the growth of Indonesia’s insurance industry.

“Our vision is to make Sequis Life a reliable insurance company for the Indonesian people to meet their financial, health, and retirement needs toward achieving prosperity,” he said.

With a recent study deeming rising healthcare costs the top concern for Asian consumers, insurers are urged to improve their health and wellness offerings to keep up with consumer demands. The study also noted room for increased health insurance uptake, with only 18% of respondents having critical illness coverage, compared to accident (32%), inpatient (32%), and outpatient (26%) insurance.

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