Indonesian Life Insurance Company Upgrades

Indonesian Life Insurance Company Upgrades – The breakthrough of the life insurance industry in the country has received global attention because it sells products that cover the Covid-19 Pandemic. In addition to local customers, this product is also in demand by citizens of neighboring countries, such as Singapore.

This phenomenon confirms that the insurance industry in the country has risen in class, equality, and global competitiveness.

“We were behind for a while but tried to catch up for one level. Because if the products abroad are better, customers will buy abroad. Then there is a tremendous breakthrough when our company can cover the covid-19 pandemic, while in other countries it is not. I got 20 more customers from Singapore, to cover the pandemic. 

So in my opinion, we are currently on the same level as neighboring countries,” said MDRT Indonesia Country Chair Dedy Setio quoted on Sunday (31/7/2022).

To that end, the MDRT Indonesia community, a global professional agent forum, continues to encourage the professionalism of life insurance agents through competency improvement, in line with product innovations from industry players.

“This competence is important because it not only has an impact on productivity but also the capacity of insurance agents as reliable financial planners so that it is equivalent to the ability of insurance agents in the Asian region, to the global,” explained Dedy.

Because, according to Dedy, the challenges of the financial industry in the future are increasingly complex with the presence of financial technology and the era of insurance digitalization.

“Life insurance agents who do not improve their abilities will be left behind in the competition. Moreover, we are currently entering a post-pandemic period which is expected to bring movement to the life insurance industry in particular, and the national economy in general,” explained Dedy.

Digitization Insurance

He added, that breakthroughs, in the era of digitalization will continue to strengthen industry fundamentals both in terms of governance, strengthening human resources, increasing agent professionalism, etc.

Therefore, most of the speakers we presented at the 2022 MDRT Day Indonesia are professional agents who have been MDRT members for over 10 years.

Also, some other speakers will share their successes, and tips for being able to continue to work, be productive, and stay professional.

“So this MDRT Day is a precious moment for agents because they can receive presentations from classy and experienced speakers, which can certainly continue to drive the productivity and professionalism of life insurance agents,” he added.

For your information, the number of life insurance agents in Indonesia currently reaches 580 thousand people, and the MDRT is less than 0.5 percent. Even in the world, the number of insurance agents who become MDRT is only about 2 percent to 3 percent.

For this reason, Dedy emphasized that being an MDRT member is very special. And this is certainly a branding for MDRT members in acquiring clients.

“A study shows that as many as 640 new MDRT members continue to maintain membership, with just 4 years, showing an average growth of 13.5 percent each year,” said Dedy.

Kennedy Sumarlie, Committee Chair of MDRT Day Indonesia 2022, added that the number of participants attending the 2022 MDRT Day Indonesia offline event was 200 participants, and more than 3400 attendees attended online.

“Although MDRT Day Indonesia was first held in a hybrid manner, it does not detract from the quality as a means of gathering, networking, and learning together,” he said.

Breaking New Ground

MDRT Day Indonesia is indeed an inspirational seminar and is always anticipated by life insurance agents who want to develop into international agents. Because in addition to the entertainment element, participants are guaranteed to get valuable insights from the speakers who perform.

Kennedy added, that with the pandemic getting under control, we are currently entering a post-pandemic period that is expected to bring a breath of fresh air to the life insurance industry in particular, and the national economy in general.

“Breakthroughs that we have never experienced are in sight. The new normal and digitalization force regulators and the insurance industry to continue to strengthen industry fundamentals both in terms of governance, strengthening human resources, increasing agent professionalism, for the sake of deepening literacy and penetration of life insurance in the community, and increasing participation in the economy,” he concluded.

Kennedy also revealed that in the 2022 MDRT Day Indonesia series, the MDRT Indonesia Committee also initiated a charity activity by spreading kindness to humanity, namely Help Water for Sumba.

In collaboration with The Save The Children Indonesia Foundation, the MDRT Indonesia Committee is raising humanitarian funds to help bring closer sources of clean water, and protect the right of children in Sumba-NTT to health.

“Through this humanitarian fundraising has been opened since July 14, 2022, and closed on July 28, 2022. The funds raised will be used for the construction of water sources and filtering using solar panels, installing pipes from water sources to settlements, building sanitation in densely populated settlements, and channeling clean water to schools, as well as health centers to serve more than 31,000 people,” he said.

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