Insurance and wealth management solutions are now available through Danamon’s wide network
Jakarta – PT Asuransi Jiwa Manulife Indonesia (Manulife Indonesia) and PT Bank Danamon Indonesia Tbk (Danamon) will offer a range of Manulife product solutions to a broad base of Danamon customers through its branch network across Indonesia. The initiative will be aimed at enhancing insurance and wealth management offerings to a broader range of customers nationwide and is a follow up of the partnership agreement between Manulife Indonesia and Danamon in October 2011.
Alan Merten, Chief Executive Officer and President Director, Manulife Indonesia commented, “I am very pleased that the partnership between Danamon and Manulife is now officially launched! This is another significant step Manulife is taking towards realizing our vision to provide strong, reliable, trustworthy, and forward-thinking solutions to our customer’s most significant financial decisions.” Mr Merten continued, “Besides the introduction of a comprehensive range of products tailored to meet the needs of Danamon’s customers, a key differentiator our partnership with the bank will offer customers is the “Plan Right’ sales tool, designed to help Financial Specialists and bank staff identify customer needs in order to determine the right product solutions to those needs.”
The products launched through the partnership are Proteksi Prima Maxima, Proteksi Prima Rencana Flexi, and Proteksi Prima Rencana. These products offer protection for a range of insurance needs, as well as a diverse range of investment options, through 14 unit linked funds, that can cater to the wealth accumulation needs of customers.
The products are available as per July 2, 2012, at Danamon’s 523 retail branches across Indonesia. These products will be initially marketed by 250 professionally-trained Financial Specialists as well as bank staff. These products will complement Manulife's existing product range in Danamon consisting of Proteksi Prima Dinamis, Primajaga and Primajaga100, standalone life protection programs that help customers prepare for their future. At the same time, Manulife also offers life insurance bundled with 2 existing Danamon saving products, Danamon Lebih and Si Pinter.
“This initiative is based on our mutual intention to bring the benefits of world standard insurance and wealth management expertise to a much wider base of customers. Being a financial institution which serves all customer segments through a wide service network - 3,100 branches and point of sales across the country - Danamon can make this happen,” stated Henry Ho, Danamon’s President Director. “Together with Manulife, which is a global provider of insurance and wealth management services, we can surely provide the means for our customers to mitigate risks, and take advantage of investment opportunities in planning for their lives and careers,” continued Henry.
“This partnership with Manulife is in line with our commitment to meet our promise in providing Life Time Financial Support through wide range banking product including Insurance and Wealth Management, deepening our relationship with them, and becoming their preferred bank,” said Michellina Triwardhany, Danamon’s Director for Consumer Banking. “Additionally, this partnership has a strong potential to contribute significantly to the Bank’s fee based income,” she added.
Manulife Financial’s reliability globally for 125 years and over 27 years in Indonesia demonstrates its long standing commitment towards providing trustworthy solutions to help its customers make their most important financial decisions. Danamon’s over 56 years of experience and strength, its position as a universal bank, and its wide customer segments, is testament to its commitment to be a preferred bank to Indonesians. The combination of the two entities, therefore, will allow customers to trust their future in the partnership.
Manulife Indonesia offers the most comprehensive products and services in the Indonesian financial services industry through life insurance and employee benefits from PT Asuransi Jiwa Manulife Indonesia and through mutual funds and asset management services from its affiliated company, PT Manulife Aset Manajemen Indonesia. In managing offshore investments, Manulife Indonesia works with Manulife Asset Management (Hong Kong) Limited to leverage its extensive experience in managing international assets. Headquartered in Jakarta, PT Asuransi Jiwa Manulife Indonesia operates through a network of marketing offices in 24 cities across the country, supported by more than 9,000 employees and professional agents and has over 1.5 million in-force policies.
Manulife Indonesia has earned several prestigious awards in 2011:
• “Good” rating in Life Insurance category at Net Promoter Loyalty Award 2011 from Hachiko-Net
Promoter® Solutions and SWA magazine
• The 1st Best Life Insurance Company in 2011 for two years in a row from ABAI (Asosiasi Broker Asuransi & Reasuransi Indonesia – Indonesian Insurance & Reinsurance Brokers Association)
• “Very Good” rating for the 6th time from Infobank magazine in the life insurance company category with gross premium income above IDR 1 trillion in 2010
• The Best Customer Choice of Health Insurance, The Best Customer Choice of Unit Link Insurance, and The Most Popular Brand of Health Insurance categories at Indonesia Brand Champion 2011, which was initiated by MarkPlus Inc.
• Service Quality Award 2011 with “Gold” rating for Health Insurance Service category from the Service Excellence magazine, Marketing magazine and Carre - Center for Customer Satisfaction & Loyalty (Carre - CCSL)
• The Best Insurance of the Year at ASEAN Business & Company Award 2011, which was initiated by the International Achievement Foundation (IAF)
About Manulife Financial
Manulife Financial is a leading Canada-based financial services group with principal operations in Asia, Canada and the United States. In 2012, we celebrate 125 years of providing clients strong, reliable, trustworthy and forward-thinking solutions for their most significant financial decisions. Our international network of employees, agents and distribution partners offers financial protection and wealth management products and services to millions of clients. We also provide asset management services to institutional customers. Funds under management by Manulife Financial and its subsidiaries were C$512 billion (US$512 billion) as at March 31, 2012. The Company operates as Manulife Financial in Canada and Asia and primarily as John Hancock in the United States.
Manulife Financial Corporation trades as ‘MFC’ on the TSX, NYSE and PSE, and under ‘945’ on the SEHK. Manulife Financial can be found on the Internet at manulife.com.
PT Bank Danamon Indonesia Tbk. was established in 1956 and as of March 31, 2012 operates over 3,100 branches and points of sales, including its Danamon Simpan Pinjam (DSP) and Syariah units as well as its subsidiaries branches. As of March 31, 2012 Danamon provides its customers with access to over 30,000 ATMs, including through its association with ATM Bersama and ALTO, in all 33 provinces in Indonesia.
Danamon was recently awarded as Indonesian Bank Loyalty Champion 2012 from Infobank and Markplus Insight in the conventional bank with more than Rp 75 trillion in assets category. Danamon also received Indonesia Brand Champion 2012 and Indonesia Service to Care Champion 2012 awards from Marketers and Markplus Insight in the conventional bank with more than Rp75 trillion in assets category. Last year, Danamon placed third in the 2011 Annual Report Award (ARA) for the listed financial institution category.
From international institutions, Danamon received “Gold Award 2011” under category of Best Core Banking System Initiative, in the Asian Banking & Finance Banking Retail Awards 2011, hosted by Asian Banking & Finance Magazine (ABF).
Danamon is the sole issuer and acquirer of American Express® cards in Indonesia under an independent operator agreement which allows it to issue American Express cards to individual and corporate clients. Danamon is also the only bank which provides services to local merchants who accept American Express Cards and for signing up new merchant partners in Indonesia. Danamon is also the sole license holder of Manchester United cards in Indonesia, allowing the Bank to issue Manchester United ATM/Debit cards and credit cards.
PT Adira Dinamika Multi Finance Tbk (Adira), the automotive financing subsidiary of Danamon, operates an extensive branch network in more than 260 cities in Indonesia.
As of March 31, 2012, Danamon was 67.37% owned by Asia Financial (Indonesia) Pte. Ltd. and 32.63% by the public. On April 2, 2012, Danamon has been informed by Fullerton Financial Holdings Pte. Ltd., that it has entered into a share purchase agreement with DBS Group Holdings to sell its interest in the whole of the issued share capital of Asia Financial (Indonesia) Pte. Ltd. to DBS. The transaction is subject to the approvals, among others, of DBS shareholders and regulators in Singapore and Indonesia, including Bank Indonesia.