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Allianz offers microinsurance for low income households

 

 

 

 

 

 

 

 

Since August 2006 Allianz Life Indonesia offers microinsurance for low-income households in Indonesia.


Allianz Microinsurance customers in Tangerang, Banten Province

With premiums as low as Rp 6,000 per year low-income households can finally get access to insurance services. So far, the premiums of conventional insurance products were simply too expensive for the great majority of the population, around half of which still has to survive on two US-dollars or less per day.

 


With its microinsurance program, Allianz aims to provide protection against the specific risks low-income families in Indonesia face in their daily lives.

Allianz connects three goals with its microinsurance activities:

  1. Test a new market segment that can greatly enhance the company’s customer base
  2. Support the government’s drive to provide access to insurance for a much wider range of people in Indonesia.
  3. Combine corporate social responsibility with a business opportunity

    Based on extensive research

    Allianz bases its microinsurance program on the results of an extensive microinsurance market study undertaken by Allianz in cooperation with the United National Development Programme (UNDP) and the German Technical Cooperation (GTZ).

    This UNDP-GTZ-Allianz microinsurance study has revealed that low-income households have a great demand for insurance services. However, the study also points out that there are very few products to serve such low-income customers.

    With its microinsurance program, Allianz now bridges this gap between demand and supply. Allianz will stay committed to serving the poor in Indonesia better.

    Strong Partners

    Allianz Life Indonesia is grateful for the continuous support it receives from the United Nations Development Program (UNDP) and the German Technical Cooperation (GTZ). Both organizations lend their expertise in developing the low-income sector to Allianz in the course of setting-up and advancing its microinsurance activities.

    Allianz Life Indonesia is also grateful for the trust and support it receives from its microinsurance business partners, all of which are leading players in the Indonesian microfinance market.


     

     


     



    Allianz Peduli Contact

    Agung Priambadha
    Public Relations & Communications
    Tel.: +62 21 52998848
    Fax: +62 21 5253246
    Email: Agung.Priambadha
    @allianz.co.id
    More information

    > Microinsurance product "Payung Keluarga"

    > UNDP-GTZ-Allianz Microinsurance study

    See the press release microinsurance