Allianz Life Indonesia reported significant growth in its Agency business channel in 2008. Manpower increased to 11,000 (increased by 45%), number of new policies increased by 45% and Annualized New Premium (ANP) increased by 41%.
“We understand that Agents play an important role to raise insurance awareness and to educate people about the importance of having insurance protections and financial planning in our local market,” said Jens Reisch, President Director of Allianz Life Indonesia.
“Our Financial Consultants have shown their dedication and success in serving our existing customers and winning new customers in 2008. Nearly 52,000 new policies were sold in 2008, an increase of 45% compared to 2007,” he added.
Allianz Agency business expanded successfully in 2008. By end of December 2008, Allianz Life Indonesia reported 45% growth in its total sales force to 11,000.
This huge number of manpower, which also complimented with comprehensive training and coaching programs, allowed Allianz Life Indonesia to serve a wider spread of the market. The direct impact from enlargement of this team was an increase in number of new policies, which was reported up by 45% to nearly 52,000. These policies are mostly individual unit-linked life insurance products with regular premiums.
In line with the growth in the number of manpower and policies issued, the total Annualized New Premium (ANP) generated by the Agency Business has also shown a tremendous growth of 41% from IDR 209 billion in 2007 to IDR 294 billion for the year 2008.
“We understand that currently people are looking for a safe haven for their saving. When it comes to income protection and financial planning, our Financial Consultants are there to serve the market with our complete and tailor-made insurance solutions,” said Jens Reisch.
Today, on January 22, 2009, in Agency Kick Off event in Jakarta, attended by 800 Financial Consultants, Allianz announced its agency business’ targets for the year 2009; to increase their manpower base to 16,000 Financial Consultants and to achieve IDR 440 billion ANP.
“Our company is in a strong position with solid financial performance. We are convinced that year 2009 will become another good year for the development of our Agency business, despite the challenges of the financial crisis” Jens Reisch affirmed.
Opening new opportunities
In this uncertainty times, where the impacts of recent global financial crisis has tailed to our local economic situation, people carefully review on how to spend their money and making plans for the family future, especially for the children’s education plan and healthcare protection.
“This financial crisis has also opportunities for us, especially for our Agency Business. Our Financial Consultants are selling products that mainly focused on income protection and financial planning, which become more and more important for most of families in Indonesia, especially in this difficult situation,” said Jens Reisch.
“Other than that, it also opens a new chance for many people to develop themselves and decide to become a Financial Consultant and business owner under the strong international brand of Allianz,” he added.
Allianz Life Indonesia develop its agency forces through a comprehensive training and coaching programs and offers many other benefits and rewards such as office facilities in our four existing Allianz Centers in Jakarta, Surabaya, Bandung and Denpasar and also overseas championship travels for successful achievers.