Adira taps online banking insurance

JAKARTA: PT Asuransi Adira Dinamika taps online banking insurance business with the rise in banking transactions through internet.This particular product grants a protection from any possible internet crimes such as illegal data acquisition and destruction, hacking, sabotage and property right violation. Adira Insurance is targeting corporate segment, running their business activities electronically.Based on the data of Cyber Crime unit at Special Crimes Directorate, Jakarta Regional Police Department, there were 300 reports on internet crimes in 2010.The prospect of banking electronic transaction is significantly rising nowadays, Corporate Business Marketing Division Head Adira Insurance Erickson Mangunsong said last week.The easy access through various kinds of media encourages people to do on-line transaction, he said last week.Based on the data of Ministry of Communication and Informatics, around 45 million of Indonesians are the internet active users.Further, Erickson unveiled that the company is yet to set any premium contribution target from the new product. Adira Insurance is actively socializing the insurance product to the banking industry.Such particular product is relatively new in Indonesia although it has been very popular abroad, General Accident & Liability Underwriting Division Head Adira Insurance Villy Chandra added.Besides launching this product, Adira also plans to separate its Shariah insurance unit in the end of 2011 merely to enlarge its business unit.Adira Insurances Sharia unit contributed 5% to the total premium revenue in 2010 or reaching around IDR55 billion. Adira expects its Sharia unit to contribute 5%-10% premium to this years targeted revenue at IDR1.4 trillion.Adira Insurance packed IDR1 trillion gross premium in 2010, or soared by 34.75% compared to the previous year at IDR742.06 billion. The automotive insurance happened to be the leading contributor as it accounts 70% of the total premium.Adiras total premium was also held up by incident and health insurance (20%) while the remaining contributors included property, heavy equipment, vessels structure, shipping and accountability.Adiras claim expenses surged by 22% to IDR369.65 billion compared to the previous year at IDR301.83 billion. The biggest claim was submitted by automotive insurance.Adira is eyeing 20% premium growth in 2011, said President Director of Adira Insurance Willy Suwandi Dharma. The company also expects its profit to reach IDR300 billion from IDR269 billion in 2010. Adira booked 30% profit jump in 2010 compared to previous year at IDR205.7 trillion. (T02/NOM)