JAKARTA: PT Asuransi Raksa Pratikara is focusing to increase the performance of its travel insurance business in second half of 2011.The company has newly marketed its travel insurance product early 2011 and cooperated with two travel agencies, Asuransi Raksa President Director Yuna Prabawangi said.The performance will be increased by expanding the cooperation with more travel agencies and foreign embassies.The company will release online travel insurance policy for the convenience of its customers and travel agencies," he said last week.According to him, there is still a great opportunity to manage travel insurance in line with peoples hobby to travel domestically and overseas.However, he admitted the travel insurance product is not too competitive since there is only small number of businesspeople played in the business since the premium rate is small and competing with life insurance companies.Travel insurance is marketed to provide travel protection through land, sea, and air in Asean and Eastern Asia also international for worldwide except the United States and Canada.Regional premium tariff for both individual and family reached US$18-US$90 while internasional tariff reached US$20-US$96. Insured money for regional reached US$35.000 and international US$50.000.The contribution of this business is not too significant during the first six months. We are only targeting 5% of this year premium target at IDR435 billion, he added.Vehicle insurance supported 65% of Raksas business, miscellaneous (heavy equipment, personal accident insurance) 21%, property insurance 6%, transportation 5%, and other insurance 3%.He projected the companys gross premium income to reach 51% in this years first half from determined target or IDR221.85 billion. Such gross premium achievement is expected to grow 15% compared to same period last year.Asuransi Raksa posted IDR402.21 billion gross premium income in 2010 or 27.57% higher from IDR315.29 billion.We are only pegging 9% growth in gross premium or very conservative so that the underwriting gain will increase at the end of year, he said.Great East Japan Earthquake that has an impact on the automotive industry also affected the conservative target growth.In addition, the company is currently in talk to cooperate with two to three leasing companies to achieve the target and develop telemarketing distribution channel.So far, 85% of the insurance product distribution is supported by direct sales and the remaining from agents and brokers. (19) (t06/msw)

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