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SOMPO Insurance Launches New Business Unit "Sompo Insurance Syariah"

Sharia economic industry is currently growing rapidly in Indonesia, marked by the rise of Sharia-based financial services business introduced to public by various banking companies such as Islamic banks to Sharia insurance. Sharia economic strength was evidenced by the survival of Islamic banks and Shariah insurance in the midst of world economic crisis. Shariah economic system seemed to experience no impact on the global economic crisis. As appear in the Shariah Insurance statistics released by the Indonesia Sharia Insurance Association (AASI), total asset growth of Sharia Insurance throughout the year of 2017 even showed a positive trend with an increase of 11.94%, followed by an increase in the value of equity of 11.95%. And to participate in developing Shariah economic industry in Indonesia, PT. Sompo Insurance Indonesia (Sompo Insurance) officially introduces its new business unit "Sompo Insurance Syariah" at Satoo Garden Hotel Shangri-La, Jakarta on May 24th 2018.

The appearance of Sharia business unit which based on the Decision Letter of the Financial Services Authority no. KEP-95 / NB.223 / 2017 has officially operated on August 14, 2017, is part of creating innovation and breakthrough existing insurance. Sompo Insurance is always guided to provide services with a priority to give full contribution to the security, health and welfare of Customers and society, through the best quality insurance services.

Closely, 'Sompo Insurance Syariah' is a business unit issued, fully guaranteed and operates under the management of Sompo Insurance Indonesia, based on Sharia principles in every business practice. The implementation of its Sharia principles is supervised by the Sharia Supervisory Board which already been familiar in Sharia Insurance Industry, including Achmad Riawan Amin as Head of Supervisory Board, Sompo Insurance Syariah and Ahmad Azharuddin Lathif as Member of Supervisory Board, Sompo Insurance Syariah. Sompo Insurance Syariah is established to meet and respond to Customer's need for the existence of Sharia Insurance while contributing to the development of Sharia business in general. The products offered include Motor Vehicle insurance and Sharia Fire insurance while in the future Sompo Insurance Syariah will also provide travel insurance products for Umroh and Hajj as well as other Sharia micro insurance products.

Eric Nemitz as Chief Executive Officer, Sompo Insurance Indonesia explains, "We are delighted to innovate continuously by bringing a quality insurance to Indonesia Customers as the modern society has realized the importance of having insurance as a part of protection both for themselves and their owned assets. One of the products currently being developed in the economic industry is Sharia products. Seeing this positive trend, we participate to occupy the needs of Shariah market by presenting 'Sompo Insurance Syariah'. In doing business, we always create innovations and breakthroughs to provide the best insurance products according to Customer expectation on qualified services. For us, improving the quality of service that we provide to Customers is very important, because what distinguishes our products and services from other insurance company’s is the quality of service itself, align with Sompo Insurance goal to provide the best Customer services, both inside and outside the country”.

Eric added, “We present 'Sompo Insurance Syariah' as our new business unit to meet the needs of the Shariah market that still has enormous potential to be developed by prioritizing customers interest. Moreover, with the presence of this new business unit, we expect to be amongst the Top 10 Companies of Sharia business unit for General Insurance category in Indonesia".

As an additional information, Sompo Insurance Syariah's latest business unit has a business management scheme that prioritizes customer interest in accordance with Sharia principles in every business policy taken. Going forward, Sompo Insurance will continue to develop products, services and a simple service innovation for Customers. And as a part of quality service improvements, Sompo Insurance also constantly improve the quality of its Call Center Sompo Care 14051 (24 hours) and Email Contact Center: and through Whatsapp 081-113-14051 to ease our attention Customers.