REPUBLIKA.CO.ID, JAKARTA -- State owned banks expressed its readiness to help the Financial Services Authority (OJK) to sell microinsurance in Indonesia. It will be distributed through bancassurance distribution channel of each company. Micro insurance is insurance that is intended for lower classes.
Director of Commercial and Business in Bank Mandiri, Sunarso said that Mandiri was ready to sell microinsurance products as it has huge potential. Bank Mandiri currently has more than 900 thousand micro customers.
"Later, our micro customers can be covered by microinsurance," Sunarso said recently.
In the future, state-owned banks will distribute microinsurance through branchless banking system, which is still in experimental phase. Sunarso said that public would be able to purchase their products through branchless banking and microinsurance.
Bank Tabungan Negara (BTN) is also optimistic that the company owns distribution channels to support this implementation. Director of Retail and Consumer in BTN, Irma A Zahiruddin said that BTN would distribute microinsurance through branchless banking which now has 876 units. Company will also cooperate with PT Pos Indonesia, state owned company responsible for providing postal service in Indonesia.
Bank Negara Indonesia (BNI) will also sell its micro insurance through online payment or conventional payment, such as with PT Pos Indonesia.
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