Oleh Anggi Oktarinda
Kamis, 26 Januari 2012 | 11:12 WIB

JAKARTA: The general insurance PT Asuransi Wahana Tata will increase the portion of its retail segment to 25% this year, compared to 20% last year.

Asuransi Wahana Tata received small contribution from the retail business line, said President Director of Wahana Tata Christian Wanandi. It has big business potential, as Indonesia has large population and high gross domestic product growth.

“We want to penetrate into retail market. The higher GDP shows that people have additional income, allowing them to get insured. The market is huge. In the segment, we rely on house, automotive, and house-shop insurance,” he said on Wednesday.

Last year, retail segment contributed IDR264 billion, or 20% of Wahana Tata's premium revenue. Meanwhile, corporate segment gave 80%, or IDR1.06 trillion.

Related to its target in enlarging retail segment, Wahana Tata expected IDR390 billion of premium from the segment. Meanwhile, the total premium in 2012 expected to reach IDR1.56 trillion, of which corporate segment expected to contribute IDR1.17 trillion.

Thus, the company will optimize the existing network and distribution, while offering new retail products and modifying the existing ones.

To reach retail customers, Wahana Tata will open seven new offices in Sumatra and Borneo this year, adding the existing 55 offices, said Wahana Tata's Marketing Director Ratnawati.

“Those seven new offices consist of two units in Riau, two others in West Sumatra, and the rest three units in Borneo. All of them equipped with integrated online IT system all across Indonesia,” she said. Agents

Moreover, the company will increase its agents to 200 persons this year, compared to 100 agents at end of 2011.

“Those 100 agents spread in big cities such as Jakarta, Medan, Bandung, and Semarang. We will put some agents in Makassar and Balikpapan, among many other cities in where we have no agents yet,” she revealed.

In 2011 the company recorded gross premium of IDR1.32 trillion, growing 40% from IDR941 billion in the earlier year. Christian mentioned that 40% of the premium came from property insurance and 35% from automotive insurance.

Other 11% came from marine cargo insurance and the remaining from miscellaneous insurance, including engineering, oil and gas, personal accident and surety bond.

The company posted underwriting of IDR270 billion in 2011, rising 25% from IDR124 billion in the earlier year. The premium and underwriting growth boosted net income by 26% to IDR105 billion in 2011, from IDR83 billion (2010). (t04/ags)



http://www.bisnis.com/articles/asuransi-wahana-tata-enlarges-retail-portion