According to MAA chief executive officer, Muhamad Umar Swift, there is huge potential for the general insurance industry in Indonesia.
"We are looking to expand our distribution network in Indonesia in the capacity of the general insurance industry. We believe this will be the best way forward," he told reporters at a press conference after the launch of its latest product in Kuala Lumpur yesterday.
The two latest insurance products, Maaxcombo and Medicalife 210, are poised to generate RM25 million in premiums within the next six months.
"Medical cost is a concern for many people especially those with families and we aim to put these concerns to rest," said its newly-appointed chief operating officer Vincent Kwo.
The company is targeting young professionals and those with young families through various roadshows nationwide and its 5,000 agencies.
Maaxmedic is a specially designed medical plan attached to Maaxlife, an investment-linked policy.
There has been a revamp of its overall lifetime limit which has been set to 10 times the annual limit ranging from RM500,000 to RM1.5 million. There is also a cashless guaranteed renewable policy for customers up to 80 years old.
Kwo added that the Maaxmedic will come at an affordable cost which will result in lower premiums.
The Medicalife 210 is an enhanced version of the earlier Medicalife series and is a basic policy which is a pure coverage on medical insurance.
By Lynn Omar
Business Times
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