Oleh Bisnis Indonesia
Jum'at, 06 Januari 2012 | 11:37 WIB
SURABAYA: PT Asuransi Wahana Tata, a general insurance company, will boost premium income from agricultural industry, particularly in eastern Indonesia.
The potential insurance business in the sector is quite high as there are big market in the area, said Bambang L Nugroho, who coordinates the company’s business in eastern Indonesia.
“Moreover, banks that have been working with us provide bigger loans to finance investment in the oil palm plantations,” he told Bisnis on Thursday.
Thus, the company will focus on areas in Borneo and Sulawesi, by offering some products for the sector, including protection against fire-risk in plantations.
The eastern regions plus East Java and Bali, have contributed IDR340 billion to the company's premium last year. The figure increased 21.4% from the earlier year, though it did not meet the expected target of IDR350 billion.
“We focus on the market outside Sumatra because the market in this area has been too dense, while the area in Borneo and Sulawesi still large,” he continued.
By developing the new product, the company is optimistic to reach the target premium of IDR380 billion in 2012. Besides that, Wahana Tata also offers property, automotive and marine cargo protection.
“In 2011, we have a deal that was cancelled, thus making our premium income below the target. In addition, competition in property insurance is quite tough,” Bambang explained.