Sun, 05 Sep 1999

Bumiputera: Comfortable guarantee for secure future

Bumiputera 1912 Mutual Life Insurance Company was established in 1912 and has, today, over Rp 4.2 billion in assets and close to 5.7 million policyholders. With the support of 3,000 employees and 18,000 agents, and guided by a prime service philosophy and mission, Bumiputera is competent and confident in securing a solid position in the life insurance sector.

Bumiputera's President Director Drs. H. Suparwanto, MBA, said that by taking part in building the nation, promoting social welfare and consistently providing prime quality products and maximal service for policyholders, Bumiputera is committed to accomplishing its mission in a professional, responsible and upstanding manner. He expects good growth in the life insurance industry over the next few years.

The strength behind the company

The hard work of every individual at all levels in the organization has provided Bumiputera with success in its business expansion. A growing number of policyholders, and accumulating amounts of premium income, are the evidence of this success. More than 600 operational offices are located nationwide, with a view of providing good customer service to policyholders, including prompt claim settlements.

The goals that have never changed from its inception up until now are the company's idealism and professionalism in serving the public, honoring the trust that has been bestowed upon it.

The company's strong and solid organization, and the improvement of its human resources, will take Bumiputera to a significant position in the life insurance business.

One of Bumiputera's strengths lies in its unique mutual ownership and management system; the company's business course is determined by a council representing policyholders concurrently with owners, while the day-to-day operation is entrusted to a board of directors, whose members are people with long and vast experience in the life insurance business. Suparwanto said that with this unique mutual ownership and management system, Bumiputera was a go-public company from its beginnings almost nine decades ago.

Another source of invaluable strength is the dedication and loyalty of the company's employees and agents. "By way of training programs as a means of human resources development, our qualified people are even more adaptable to technological advancements and sophisticated business practices. They have an outward looking vision, they are self-motivated to improving their skills and they are loyal in striving for income growth, particularly in the field of life insurance." Bumiputera has numerous products, which are all designed with one purpose in mind: to protect policyholders and be attractive to prospective customers. * Standard Insurance: Happiness Fund, Educational Fund, Ideal Term Insurance, Self-Funding Insurance, Multi-Purpose Insurance, Welfare Insurance, Family Security, Family Fund, Fund Excellent, Endowment Excellent, Modified Endowment Excellent, Whole Life Excellent, Term Insurance Excellent and Gradual Excellent. * Executive Insurance: Endowment Excellent Cash Plan, Whole Life Excellent, Endowment Excellent, Term Insurance Excellent. * Group Life Insurance: Idaman, Term Life, Credit Life Insurance, Personal Accident, Hospitalization & Surgery and Employee Benefit Program.

The competitiveness of the products lies in their competitive premiums, flexible sum insured and reversionary bonus payments, as well as quick and easy settlement of claims.

Bumiputera is constantly developing product innovation to respond to public demand, to react to environmental changes and to act as an adviser to clients both in planning financial investment possibilities and in choosing product insurance alternatives.

"We will always redefine our plan, reposition our strategy and develop partnerships in production, responsibility and profit in pursuit of the company's goals," said Suparwanto, adding that in such challenging times as now, to be forward looking by having the ability to adapt business strategies and to improve the company's image in response to market conditions is very important.

In order to make its products reliable yet affordable, Bumiputera never ceases to innovate and create new products which can satisfy all type of financial needs in an increasingly complex and sophisticated lifestyle.

"Our company is ready to become a player in a competitive market. Our professional and adaptive system, with the purpose to attract new customers, will be developed accordingly," said Suparwanto.

He said Bumiputera will continue to focus on achieving cost and capital structuring efficiently and effectively, taking a prudent approach to risk management and other efforts to establish a solid platform in pursuit of rapid growth into the future. In the effort to face this sector and time of challenges, Bumiputera has taken several steps to maintain and improve the quality of its products and services consistently, expanding its marketing network nationwide in a dynamic and highly competitive situation. All these initiatives have increased the confidence for improvement to the company's performance.

Bumiputera's agents are more than just life insurance sellers. They also give financial advice to clients and introduce other investment possibilities that the Bumiputera group can offer, like banking services, including mutual funds, general insurance, securities, underwriting and brokerage.

Suparwanto said the company paid out Rp 2.01 billion in claims in 1998. And with a spirit of mutual ownership, Bumiputera will set up a Koperasi Masyarakat (Komas) Bumiputera in every operational office, as a company participation in terms of real economy activity.

If you have a dream to secure the future for your family, Bumiputera will help make your dream come true.

For further information, please contact Bumiputera, Head Office, Wisma Bumiputera 18th-21st floor, Jl. Jend. Sudirman Kav. 75, Jakarta, telephone: 2542154, 2512157; fax: 2512172. Policyholder Information Services can reached at telephone: 5224564, 5224565, 5224566, 5224584, 5224585, 2520515, operational offices and agents throughout the country.