Winterthur Life Indonesia Signs Joint Marketing Agreement with Astra CMG Life

Winterthur Life Indonesia Signs Joint Marketing Agreement with Astra CMG Life

Two life insurance joint-venture companies PT Asuransi Winterthur Life Indonesia (WLI) and PT Astra CMG Life (ACMGL) signed recently a unique marketing cooperation agreement.

The agreement will enable both companies to focus their attentions on the specific segments of the market where they have particular strengths.

Winterthur, with its large portfolio of corporate clients, both local and international, intends to build on its recognized strengths in the employee benefit market.

Astra CMG Life, which already has a sales force of over 800 throughout Indonesia, will continue to build a direct sales force to market its DANATRA range of products. The agency channel continues to be one of the key methods of distribution for ACMGL.

Under the terms of the agreement, which is a first for Indonesia, every member of the existing agency force of Winterthur has been offered a career opportunity with ACMGL.

Existing in-force business with Winterthur Life will continue to be administered by Winterthur, with no change in the benefit guarantees of projected returns associated with these policies.

At the same time, a number of joint-marketing initiatives are being considered in the corporate employee benefit sector, particularly for Group Health and DPLK Pensions business, where Winterthur has invested heavily in technology over the last three years.

These initiatives will offer the potential for Winterthur to increase its book of corporate business by gaining access to a wider range of corporate customers through referrals from ACMGL and its associated companies.

The partnership provides a suitable fit for both companies by enabling them to concentrate their marketing efforts in their area of expertise.