Cooperation amongst Islamic financial institutions nowadays has becoming more prevalent as an effort to accelerate market share.
Thursday 20/10 Bank Muamalat Indonesia signed a cooperation agreement with Allianz Indonesia. This signing ceremony marked the availability of Allianz Life Sharia’s insurance products in all outlets of this pioneer Islamic banking in Indonesia.
"In line with the growing Islamic finance industry, the partnership between institutions becomes increasingly strategic. Insurance products can certainly be an added value of our services to the customers,” said President Director of Bank Muamalat, Arviyan Arifin.
This was also confirmed by President Director of Allianz Life Indonesia, Joachim Wessling. "Allianz Life Sharia is very proud to be trusted by Bank Muamalat to provide insurance solutions for their customers. With our insurance expertise and strong vision to be the First Choice for our customers and business partners, we are ready to provide our best service to Bank Muamalat and its customers. This partnership is strengthening our position as the trusted insurance partner, "said Joachim Wessling. Through this partnership, Allianz’s Sharia life insurance products can be found in nearly 400 Bank Muamalat offices throughout Indonesia.
Customer Services of Bank Muamalat will refer customers to the Financial Specialist from Allianz. Allianz Financial Specialists will further explain the products specification; provide them with consultation and assist them towards the closing process.
Through the telemarketing distribution channels, Allianz Life Sharia will also introduce three insurance products; personal accident insurance, compensation for in-patient and critical illness benefits to the customers of Bank Muamalat.
"Our successes in developing our sharia business, as proven with many best life sharia insurance awards and our telemarketing channels provide us with flexibility to align ourselves with our banking partner’s product needs and business model. All of our telemarketing products are simple and easy to understand life insurance products while for more complex products, Muamalat customers will be assisted by our Financial Specialist," said Handojo Kusuma, Vice President Director of PT Asuransi Allianz Life Indonesia.
As a starting plan, 170 Allianz Financial Specialist will be placed in Bank Muamalat’s offices. Allianz targets to get 22,000 policies issued from this partnership. "We are confident that this partnership will not only complement our service, but also will help us to attract more new customers," stated Director of Retail Bank Muamalat, Adrian A. Gunadi.