State-owned insurance firm PT Jiwasraya is intensifying efforts to improve financial literacy among youth in the hope of helping them learn more about the industry while expanding its reach into that market segment.
The country’s biggest domestic insurer, which currently has about 9 million customers, launched on Wednesday a new insurance product named JS Sinergy, which combines health coverage, life insurance and financial savings. The product is specifically targeting people between 25 and 40 years of age.
“We will take part in organizing the Indonesia Marketing Festival next year in 10 major cities to promote the product. We will also recruit youth community members to become our agents,” Jiwasraya marketing director De Yong Adrian said.
Jiwasraya currently runs an operation network supported by 17,000 insurance agents spread across the country.
Also partly as a result of the JS Sinergy insurance package, the company hopes to help improve financial literacy by simplifying insurance offers for first-time customers.
The company is aiming for a 30 percent increase in next year’s premium sales to Rp 20.8 trillion (US$1.5 billion), up from this year’s projected total premium value of Rp 16 trillion, De Yong explained. (hwa)