Malang, February 15, 2019 - Chubb Life in Indonesia today opened its redesigned Malang sales office, which has been given a millennial-inspired makeover with a minimalist and modern interior. This is in line with the company’s strategy to broaden its appeal to millennials, both to help them meet their own protection and security needs and also to attract and retain the best talent into the insurance industry.
In Indonesia, millennials currently make up around 40% of the country’s workforce[1]. Globally, millennials are expected to grow to 75% of the workforce by 2025[2]. However, research shows that a career in the insurance industry is not particularly attractive to this generation.
Chubb Life chose Malang as the first city for a millennial makeover because according to their 2018 Agency Annual Report the branch doubled its target First Year Premium (FYP) rate for new recruits – that is the amount of premium acquired from new policies in an agent’s first year. Alongside this, the millennial agent workforce grew by 50% in the Malang branch in 2018 according to the Chubb Life Indonesia 2018 New Recruit Report.
Bimal Balasingham, President Director for Chubb Life in Indonesia, said:
“Millennials are having a profound influence on the insurance industry. Their behaviors and preferences are changing the way we approach everything - from product design and communication to customer service and experience. They expect a great online experience and they also want to be able to engage personally with our agents about their protection needs in a relaxed and appealing office environment. We are delighted to open our Malang sales office, which has been redesigned with millennials in mind.”
The Malang sales office has been given a makeover so that it now offers a minimalist interior with touches of color and modern illustrations, where customers can go to get information about their policies, make premium payments and claims or get help with a query. The Malang office will cater to all of a customer’s needs from life insurance through to general insurance.
For employees, the revamped office provides a modern, open co-working space that is vibrant and comfortable. There are also special training areas where employees and agents can meet for informal meetings, discussions and training.
Bimal added:
“We are creating a more relevant working environment for millennials because our future is in their hands. We are committed to helping this generation develop their skills and expertise by providing them with a comprehensive training and development program, called the Chubb University Program. Our aim is to attract the very best and brightest talents to join us for a fulfilling career in insurance.”
[1] Population Aged 15 and Over by Age Group and Activity Type - Statistics Indonesia, Feb 2018
[2] Attracting Millennials to the Insurance Industry: A Complete Guide - Brown & Joseph, 2018
About Chubb Life in Indonesia
Chubb is the world's largest publicly traded property and casualty insurance company. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London, Paris and other locations, and employs approximately 30,000 people worldwide.
Chubb Life is the international life insurance division of Chubb. In Asia, Chubb Life operates in Hong Kong, Indonesia, Korea, Taiwan, Thailand, Vietnam and participates a joint-venture in China. Chubb Life commenced operations in Indonesia in 2009 with the acquisition of PT Asuransi Jiwa Bumi Arta Reksatama, an insurer founded in 1985. Chubb Life’s history in Indonesia dates back more than 30 years. To meet the financial protection and security needs of its broad range of customers, Chubb Life in Indonesia (PT Chubb Life Insurance Indonesia) offers a range of protection, savings and investment link insurance solutions through agents, financial advisors, retailers, brokers, banks, digital networks, direct marketing and telemarketing operations.
Additional information can be found at: http://life.chubb.com/id
Media Contacts
Chiqita Winaring Hayu
PT Chubb Life Insurance Indonesia
Head of Marketing & Communication
+62 21 2356 8888