Kiswati Soeryoko

Kiswati Soeryoko from Allianz Indonesia talks about Islamic insurance.

"In the Muslim religion there is a rule that it's not allowed to invest money using interest rates. Our new product, the Sharia insurance, takes this into consideration."

Transcript

Hello, I'm Kiswati Soeryoko.

I am from Allianz Life Indonesia located in Jakarta. I am in charge of marketing, public relations and Sharia. Allow me to tell you about an unforgettable moment in my life.

The insurance market in Indonesia is very new: Only 2 percent of people are insured. Most Indonesian people are Muslim and we decided to develop the Sharia product based on their needs, resulting from their Muslim belief.

In the Muslim religion there is a rule that it's not allowed to invest money using interest rates. Our new product, the Sharia insurance, takes this into consideration: It is maintained by investments, based on profit-and-loss sharing, not on interest rates like conventional products. So the Sharia product really meets the needs of the Muslim people.

Being customer-focused motivated Allianz to develop this Sharia insurance in Indonesia. It is the first of this kind in Asia, and, as a Muslim, I am very proud to be the project leader who developed the birth of Sharia in Indonesia.

The product launch was an unforgettable moment for me. We had the presentation in the biggest mosque in Indonesia, the Istiqlal Mosque in Jakarta. It was amazing, because the President-Director of Allianz Indonesia himself gave the presentation. He is very fluent in Bahasa (Indonesian language). Dr. Werner Zedelius, member of the management board of Allianz AG, also attended the launch, and lots of other influential people, business partners and also government officials.

The selling of the Sharia product has been very successful up to now. In just five months, we have already met the target. I am really optimistic that we will be able to reach 200% of our sales target by the end of the year.

(Video: Allianz)

Video: Allianz

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