Allianz Agrees on Bancassurance With Maybank

George Sartorel, Regional CEO, Asia Pacific, Allianz

George Sartorel, Regional CEO, Asia Pacific, Allianz

German financial services firm Allianz and Malaysia's Maybank have announced a their 10-year bancassurance in Indonesia.

By combining Maybank’s distribution network and customers in Indonesia with Allianz’s insurance expertise and best-in-class products, the partnership will deliver comprehensive life and health insurance solutions to more than 4 million Maybank customers.

«This partnership demonstrates Allianz’s continued focus on growing in the Asia region, of which Indonesia is a key priority. We’re excited to bring our multi -channel approach, innovative products and digital expertise to serve the protection needs all Maybank customers,» said George Sartorel, Regional CEO, Asia Pacific, Allianz, in a statement on Tuesday.

As part of the partnership launch, Allianz and Maybank have jointly developed three life insurance products, following a thorough analysis on the needs of Maybank customers. These products aim to provide clear protection benefits and the opportunity for customers to capture investment growth. The initial set of products immediately available are:

  • MyProtection Bijak-Shariah-compliant unit-linked life insurance product
  • MyProtection Prima-Combines protection and investment in one easy solution
  • MyProtection Investa – Single-premium investment product

More products will gradually be added to the pipeline, in line with the diverse and changing needs of customers. In addition, Allianz will also look to introduce its proprietary digital sales platforms for Maybank clients, to drive stronger customer engagement and satisfaction.

This will be augmented by a team of more than 150 dedicated insurance advisers to serve the needs of Maybank clients in their retail branches.

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