UNLOCKING INDONESIA S DIGITAL POTENTIAL AN INSURANCE PERSPECTIVE. Joos Louwerier Jakarta, 1 st November 2018

Transcription

1 UNLOCKING INDONESIA S DIGITAL POTENTIAL AN INSURANCE PERSPECTIVE Joos Louwerier Jakarta, 1 st November 2018

2 hello! The Netherlands University of Amsterdam (2000) National University of Singapore/ UCLA Anderson (MBA, 2014) ING Bank, ING Insurance, Allianz Insurance (mostly operations and marketing) Worked in The Netherlands, Korea, Japan, Hong Kong, Malaysia Married, 3 sons, 1 dog

3 Indonesia has natural growth, 51% (of total 265 mio) dominated by middle class and above in 2020, working population will reach 70% 5% growth on GDP figures USD 1,015 bio 7 th world s largest economy in 2030 USD 1,075 bio USD 1,152 bio

4 but insurance uptake has to be improved in the market banking is more well-known and preferable than insurance Banking 21.8 certainty inclusivity literacy Insurance insurance penetration to %GDP Indonesia India Malaysia China Thailand only 25% of total population is insured

5 most traditional insurers are like dinosaurs... big and move slowly, established over many years, with risk to become extinct Sold not bought! Intangible product! Limited touch-points! Unpleasant experience! Financial & medical needs only!

6 our ecosystem is (r)evolutionized, Rp 5k - traditional coffee shop warkop Rp 40k - starbucks Rp 20k now local coffee shop demand real-time and customized service craving for unusual experience appealed by decent packaging buy brand and trend!

7 technology challenged and changed everything. everything is available, can be decided, communicated, controlled, accessed, bought, at the tip of our finger.

8 54.68% Indonesians spend > 4hrs per day on the internet our changed behavior in a hyper-connected society:

9 accessible and transparent, speedy and accuracy, fun!

10 so, what does this mean for insurance? lead time 7 days head office # of visit 3 times customers branch office printing > 60 pages sales agents # of signature 6-10 signatures needed

11 learn from oscar health

12 digital solutions passing the toothbrush test?

13 remember, technology challenges and changes everything, what s next? also for the dinosaurs. through various wearable devices, physical changes in everyday life can be measured and eventually offer different insurance products, services, and prices

14 paradigm shift of insurance customers journey consideration to purchase comes from purchase limited customer touch-points unpleasant customer experience intangible product until claims settled claims changed behaviors of a hyper-connected society! customer onboarding expert underwriting system, eazy payment, eazy connect customer engagement eazy connect, allianz smart point, allianz hospital assistant, service guarantee, eazy med claim experience

15 digital partnerships offer access to mass segments for insurance 1k pharmacies 20k physicians health ecosystem for Allianz customers telemedicine via chat, voice call, and video call pharma delivery 44 mio users, 1.2 mio drivers 168k SMEs, 1.5 mio microfinance agents health plan for GO-JEK employee & driver term life for GO-JEK customer via GO-POINTS redemption

16 eazy onboarding process and more engaging customers real time underwriting decision whether the prospective customer is accepted or rejected as the insured payment gateway for individual life customer via allianz website, bca & mandiri host to host, indomaret, and e-commerce allianz smart point give MORE than just an insurance but unusual experience

17 surprise the customers with unexpected services Allianz Hospital Assistant customized service for individual health customer who undergoes inpatient treatment eazy claim fast claim processing via mobile-apps service guarantee unusual experience! IDR voucher shall claim processed more than 7 working days

18 so, be relevant and delight the customers to insure more people in the eaziest possible way!