Danamon Aetna Life ties global knowledge, local touch<\/p>\n
Aetna made a bold and strategic decision three
\ndecades ago to look farther afield than its established
\nbase in the United States.<\/p>\n
The company, already one of the leading insurance
\nfirms in the U.S. after over 100 years in business,
\nopened 30 years ago a new division, Aetna International
\nInc. (AII), to tap the vast growth opportunities in
\nforeign markets.<\/p>\n
This vision paid off and today, AII operates in 14
\ncountries, with 18,000 agents outside of the U.S.
\nserving more than eight million customers. Its
\nstrategic alliances provide group benefits in more than
\n68 countries.<\/p>\n
Aetna's unending quest to identify the best market
\nstrategies was also evident last year, when the company
\nmerged with U.S. Healthcare, the largest health
\nmanagement organization in the U.S., to form Aetna U.S.
\nHealthcare. The move was made to reposition the company
\nfor long-term growth and superior financial management.<\/p>\n
Financial analysts were bullish on the merger.
\nOperating earnings grew from US$124.1 million in the
\nfirst quarter of 1996, to $186.8 million at the end of
\nthe first quarter of this year.<\/p>\n
Success is ultimately measured in the company's
\nbottom line. Aetna has US$93 billion in assets and
\n40,000 employees worldwide.<\/p>\n
All predictions are for the company to continue on
\nits successful path by focusing its business
\ndevelopment on three main business sectors of Aetna
\nU.S. Healthcare, Aetna Retirement and AII. All are
\nprofitable operations which fill a vital market niche.<\/p>\n
AII's future growth prospects appear particularly
\noutstanding owing to the growing middle class in Asian
\ncountries, including Indonesia. Among AII's offices in
\nthe Asia-Pacific region is PT Danamon Aetna Life
\nInsurance Company.<\/p>\n
PT Danamon Aetna Life was founded in 1995 as a
\npartnership between Aetna International and the Danamon
\nGroup, one of Indonesia's foremost financial services
\ncompanies. In just two short years it has combined
\nAetna's vast international insurance experience with
\nDanamon's peerless knowledge of the Indonesian business
\nclimate.<\/p>\n
AII has distinguished itself as a company which has
\nthe highest ethical standards and respect for the
\ncultures in which it does business. In Indonesia, this
\nhas translated into the company investing time, funding
\nand people power in developing extensive training
\nprograms for its staff.<\/p>\n
The resulting formation of a "service excellence"
\nculture among Aetna's family of employees and agents
\nhas contributed to the excellent growth of PT Danamon
\nAetna Life in its short term of business.<\/p>\n
The company operates from the Wisma Danamon Aetna
\nLife, a new Jakarta landmark office building on Jl.
\nSudirman. It employs 200 permanent employees and nearly
\n450 agents in offering both health and life insurance
\npolicies. In response to its excellent performance, the
\ncompany plans to double its nationwide distribution
\nnetwork from 12 sales offices in 3 cities to 25 offices
\nin 13 cities.<\/p>\n
In all its operations, Aetna emphasizes a willingness
\nand adaptability to customer needs for insurance
\nproducts in this rapidly changing world. The concern is
\npractical as Aetna seeks to provide insurance products
\nmost suited to modern lifestyles and demands throughout
\na customer's life.<\/p>\n
PT Danamon Aetna Life's motto for success in
\nIndonesia has been "We do more for you". This
\ntranslates into professionalism on every level of
\ncontact with customers, innovative products tailored to
\nmeet local needs and superior customer service.<\/p>\n
There is enormous potential and prospects in
\nIndonesia's insurance business. In the past three
\nyears, growth in insurance operations has continued
\nunabated in Indonesia.<\/p>\n
Data shows that total life insurance premiums grow
\nfaster than GDP in many emerging markets as people
\nplace a priority on protecting their improved financial
\nstatus. This key business indicator is relevant to
\nIndonesia, where Aetna has experienced strong market
\ndemand based on its ethical approach, innovative and
\ncompetitive insurance products and superior customer
\nservice.<\/p>\n
Aetna's appreciation of the outstanding performance
\nof its Indonesian staff was shown with the visit of
\nFrederick C. Copeland Jr., President and CEO of Aetna
\nInternational, to its office on May 23.<\/p>\n
Copeland not only expressed a much-deserved "well
\ndone" to employees for their efforts, but also inspired
\nthem for the challenges that lie ahead.<\/p>\n
The backbone of Aetna's success is sticking to tried-
\nand-true formulas of satisfying the customer, and
\nCopeland chose to quote from company founder, Eliphalet
\nA. Bulkley.<\/p>\n
"For people who are creating a new industrial order,
\nthe exciting appeal of our business is its ability to
\nsafeguard their financial future and that of their
\nfamilies."<\/p>\n
Copeland noted that Bulkley's words remain as
\nrelevant today for Aetna's operations in Indonesia as
\nwhen they were first uttered more than 140 years ago.<\/p>",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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