News Releases

Chubb and KoinWorks Partner to Provide Insurance Solutions for Businesses Across Indonesia
Mar 11, 2024

Chubb Indonesia and KoinWorks, Indonesia's first credit-led micro, small, and medium enterprises (MSMEs) neobank, today announced a five-year strategic partnership to deliver insurance solutions specifically designed for Indonesia's MSMEs.

Through the partnership, more than two million KoinWorks’ customers across Indonesia will be able to access a range of Chubb insurance products and services. Initially, customers will benefit from an insurance product that includes accident and life cover, underwritten by Chubb.

Kumaran Chinan, President Director of Chubb Life Indonesia, said, “We are excited to partner with KoinWorks and offer protection for business owners from unforeseen risks that can impact their families, employees, and the wider community. This partnership marks the start of a new journey for Chubb and KoinWorks to provide MSMEs with greater access to risk management solutions, helping to safeguard their future.”

“MSMEs play an important role in Indonesia’s economy and face many challenges and risks,” said Benedicto Haryono, CEO & Co-Founder of KoinWorks. “We prioritize comprehensive lending solutions that consider the well-being of borrowers and their families. By working together with Chubb, we believe this partnership will help to alleviate potential burdens for business owners.”

About Chubb

Chubb is a world leader in insurance. 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 40,000 people worldwide.

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About KoinWorks

Established in 2016, KoinWorks is Indonesia's leading credit-led Micro, Small, and Medium Enterprises (MSME) Neobank. Dedicated to being the premier financial services provider for MSMEs in Indonesia, KoinWorks empowers underserved MSMEs through sustainable financing, concurrently strengthening the wealth of individual investors. KoinWorks' commitment to innovation and sustainability is demonstrated through tailored financing solutions, including KoinBisnis and KoinInvoice. Beyond individual products, KoinWorks strategically collaborates with partners in supply chain financing and buy now, pay later models, extending its impact throughout ecosystems. As a financial services provider, KoinWorks also offers a range of funding solutions tailored to individual users to support wealth development and financial goals. With a user base of 2.5 million, KoinWorks proudly upholds Environmental, Social, and Governance (ESG) principles, earning the esteemed ESG Thematic Award at the 2023 Singapore FinTech Festival. Headquartered in Jakarta, with a strategic presence in Singapore, KoinWorks' operations are supported by a dedicated technology team in Yogyakarta and business development teams in Bandung, Bali, and Surabaya. Access the KoinWorks application on Google Play and App Store. For more information, visit