Issue 10 2023

Aug22499 34 | Acquisition International, Issue 10 2023 Aug23555 Customer-First, Integrity, Courage lease give us an insight into AXA Insurance Indonesia’s journey, right from its beginning to the point where it unwaveringly stands today. Without going back too far, AXA Group was established, as it is today, with few major successive mergers and acquisitions of some reputable insurance companies in France, in Europe, in the U.S., as well as in the Asia-Pacific in the mid-80s/early 90s. This was the beginning of AXA existence in Asia in the mid-90s. In Indonesia, AXA and Bank Mandiri, following their successful first jointventure in life insurance, decided to reiterate with the acquisition of one local general insurance company named PT Asuransi Dharma Bangsa in 2011. On one side, PT Bank Mandiri (Persero) Tbk. was the largest state-owned bank in Indonesia, and AXA was one of the largest insurance companies in the world. With two strong brands as one, the new company, named PT Mandiri AXA General Insurance, was initially focused on bancassurance channel. In 2019, the company had the opportunity to expend its distribution model to other partners by the acquisition and merger with another AXA company called PT Asuransi AXA Indonesia. And not so long ago, in July 2023, we rebranded ourselves into PT AXA Insurance Indonesia, or AXA Insurance, to reflect well our current business model. What came next following the rebrand? I strongly believe that insurance in Indonesia has got so much potential. Even more, and despite the weakened global economy, Indonesia macroeconomic indicators show strong fundamentals with a GDP continuously growing, +5.1% YoY in 2023, and inflation contained below 3%. With 270 million population, of which c.50% are below 35-years-old, and an insurance penetration rate below 2%, I see a great opportunity to accelerate our penetration on retail and SME businesses, by providing improved insurance protection to Indonesian people, aligned with our ambition to ‘make life safer, fairer, and more inclusive’. In this context, earlier this year, AXA Insurance introduced our promise called ‘AXA Mudah’ (‘easy’ in Bahasa) as we want insurance to be easy for our customers and business partners. Please tell us more about the range of products and solutions on offer from AXA Insurance. AXA Insurance has been building a well-balanced portfolio of products (P&C retail, P&C commercial, and Health), leveraging its multi-channel distribution model, including banks and multi-finance partners, agencies, brokers, as well as B2B2C and B2C digital solutions. AXA Insurance provides comprehensive insurance protection for our individual and business customers, in particular: mobility (cars, motorcycles, travel, personal accident) and lifestyle internal (home, gadget protection, pet) for individuals, as well as property, marine cargo, construction, business interruption for SME and corporate businesses. Health protection (inpatient and outpatient) is also a significant line of business with domestic and international coverage. In the digital era, AXA Insurance has been also introducing a wide range of digital services, giving easy access to insurance protection. As such, mobility and lifestyle products and services can be obtained through our e-commerce platform, namely AXA myPage (, while claims can be submitted and tracked easily and conveniently in ‘Emma’ (, virtual assistant available 24/7. Please share more on how AXA Insurance innovates. Successful innovation depends upon a good understanding of customer needs and extensive communication with all our partners. At AXA Insurance, we want to build care and trust with our partners and customers. As a result, we have been delivering innovations continuously as we are committed to serve a benchmark for our end-to-end customer and distributor journeys. We have digitalised our flagship products. Sales through new technology started to make a significant contribution to the company’s revenue. It is progressing well. Until mid-2023, we recorded double-digit growth for digital insurance purchases compared to the previous year. On the other hand, we built a digital-based claim service to allow faster and easier claim submission by our customers. In addition, we introduced a breakthrough for digital car claims surveys using video calls, so customers can stay safe and comfortable at home. What else does AXA Insurance have in store? I would like AXA Insurance to become the preferred insurance partner for creating customer engagement, continuing to focus on achieving profitable and sustainable growth. For this purpose, we recently launched a series of new products and services, particularly through digital operations to make life safer, fairer, and more inclusive, namely ‘Smart Series’ (SmartTravel, SmartDrive, SmartBusiness, Smart Home, and soon SmartHealth) towards individual and SMEs. We will continue to innovate from a product and service perspective, through digital transformation, as we want to be ‘AXA Mudah’ – ‘easy to do business with’, continue to protect our customers to face new emerging risks, and be exemplary from a social and environment sustainability point of view. To conclude, what advice would you give to budding entrepreneurs and emerging business leaders? From a personal view, being successful often means learning from those who have already achieved their goals. Having a mentor is an amazing blessing. People who enjoy taking on new challenges and acquiring new skills can lead a venture from the start-up stage to market dominance. So, challenge yourself, believe, and keep learning tips for being a great leader. Company: PT AXA Insurance Indonesia Contact: Laurent Bourson Website: AXA Group is a global leader in financial protection dedicated to protecting people and property. Part of AXA Group, AXA Indonesia Insurance (AXA Insurance) has been recognised as our Insurance Provider of the Year 2023 – Indonesia. We learn what makes the Indonesian branch such a worthy award winner from its President Director, Laurent Bourson. P