Press Release
FWD Insurance supports MSMEs to protect their biggest assets through SME Connect
22 September 2022
Jakarta, 22 September 2022 - PT FWD Insurance Indonesia (“FWD Insurance”) launched the SME Connect digital platform. It is equipped with the latest technology, that seeks to allow the owners of Micro, Small and Medium Enterprises (MSMEs) to easily provide employee benefits at an affordable premium.
SME Connect is a digital platform presented by FWD Insurance to offer protection products from FWD Employee Benefits in the Group Insurance business line. There are three types of protection that are available for the customers to choose and adjust, with a minimum premium of Rp5,000,000 per year. The products are:
1. Bebas Hidup: provides life insurance for employees
2. Bebas Karya: provides life insurance due to accident for employees
3. Bebas Sehat: provides health insurance for employees and their families
Anantharaman Sridharan, President Director of FWD Insurance said, “FWD Insurance strives to provide different insurance experience with digital access as well as collaboration with our distribution partners that could answer the evolving customers’ needs in regard to having life and health protection. We believe that employees are the greatest asset for a business and SME Connect digital platform is here to make our insurance process simpler and provide them with better protection.”
MSMEs in Indonesia can employ a growing number of workers every year. This plays a role in the economic growth in Indonesia. Based on the data from the Ministry of Cooperatives and Small and Medium Enterprises of the Republic of Indonesia from the Ministry of Finance of Republic of Indonesia website, the number of MSMEs in 2021 has reached 64.2 million business units spread across various sectors with a potential target market of 80,500 MSME businesses and a total of 950,000 employees. However, the protection rate of Indonesian workers is still relatively low. Through SME Connect digital platform and the three products offered, FWD Insurance hopes to increase the protection level of MSMEs workers, and also help encourage the level of financial inclusion in Indonesia.
SME Connect simplifies the sales process with easy steps to set up protection based on needs while still offering affordable prices. “With FWD Insurance's extensive experience in employee benefits business and an extensive network of partnered hospitals and clinics, we want to provide better insurance experience as we continue changing the way people feel about insurance. All our insurance activities are accessible anytime and anywhere through e-Friend feature on FWD MAX digital platform. SME Connect is our initiative that aims to increase financial inclusion to respond to the growth of MSMEs in Indonesia,” concludes Anantharaman Sridharan.
The launch of the SME Connect digital platform is to show our commitment and effort of providing more access to insurance for the public, by encouraging them to have life and health protection so they can celebrate living. It is also aligned with the FWD Unstoppable theme this year, which shows FWD Insurance unstoppable force in changing the way people feel about insurance through providing products and different insurance experience that is easy to know, easy to buy, easy to claim, easy to engage, and easy to love.
For more details about the FWD Unstoppable campaign programme and the latest SME Connect initiative, please visit fwd.co.id.
SME Connect is a digital platform presented by FWD Insurance to offer protection products from FWD Employee Benefits in the Group Insurance business line. There are three types of protection that are available for the customers to choose and adjust, with a minimum premium of Rp5,000,000 per year. The products are:
1. Bebas Hidup: provides life insurance for employees
2. Bebas Karya: provides life insurance due to accident for employees
3. Bebas Sehat: provides health insurance for employees and their families
Anantharaman Sridharan, President Director of FWD Insurance said, “FWD Insurance strives to provide different insurance experience with digital access as well as collaboration with our distribution partners that could answer the evolving customers’ needs in regard to having life and health protection. We believe that employees are the greatest asset for a business and SME Connect digital platform is here to make our insurance process simpler and provide them with better protection.”
MSMEs in Indonesia can employ a growing number of workers every year. This plays a role in the economic growth in Indonesia. Based on the data from the Ministry of Cooperatives and Small and Medium Enterprises of the Republic of Indonesia from the Ministry of Finance of Republic of Indonesia website, the number of MSMEs in 2021 has reached 64.2 million business units spread across various sectors with a potential target market of 80,500 MSME businesses and a total of 950,000 employees. However, the protection rate of Indonesian workers is still relatively low. Through SME Connect digital platform and the three products offered, FWD Insurance hopes to increase the protection level of MSMEs workers, and also help encourage the level of financial inclusion in Indonesia.
SME Connect simplifies the sales process with easy steps to set up protection based on needs while still offering affordable prices. “With FWD Insurance's extensive experience in employee benefits business and an extensive network of partnered hospitals and clinics, we want to provide better insurance experience as we continue changing the way people feel about insurance. All our insurance activities are accessible anytime and anywhere through e-Friend feature on FWD MAX digital platform. SME Connect is our initiative that aims to increase financial inclusion to respond to the growth of MSMEs in Indonesia,” concludes Anantharaman Sridharan.
The launch of the SME Connect digital platform is to show our commitment and effort of providing more access to insurance for the public, by encouraging them to have life and health protection so they can celebrate living. It is also aligned with the FWD Unstoppable theme this year, which shows FWD Insurance unstoppable force in changing the way people feel about insurance through providing products and different insurance experience that is easy to know, easy to buy, easy to claim, easy to engage, and easy to love.
For more details about the FWD Unstoppable campaign programme and the latest SME Connect initiative, please visit fwd.co.id.
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PT FWD Insurance Indonesia ("FWD Insurance") is licensed and supervised by the Financial Services Authority. FWD Insurance is a member or Alternative Dispute Resolution Agencies of Financial Services Sector
