Synergy of Banking and Insurance, MAGI and Bank Neo Commerce Collaborate, Offering Holistic Financial Services

JAKARTADAILY.ID -- PT Mandiri AXA General Insurance (MAGI) & PT Bank Neo Commerce Tbk. (BNC) signed a partnership to expand holistic financial services in providing protection solutions starting with health protection through various distribution channels owned by BNC, both through branch offices, and in the future through digital channels.

“This collaboration is the first step for MAGI and BNC to accelerate financial inclusion and insurance awareness for the people in Indonesia. The competitiveness of MAGI's products and BNC's integrated distribution channels are the key strengths for the two companies in increasing market penetration," said Lina Vongsa-Ath, Chief Partnership and Emerging Customer of MAGI in a press release, Friday June 10, 2022.

Maximizing the competitiveness of MAGI products and BNC digital ecosystem, the two companies are committed to provide convenience to Indonesian people in managing their financial through a comprehensive risk management.

Lina said, this agreement is a strategic step for MAGI, a general and health insurance company, subsidiary of AXA and Bank Mandiri in Indonesia, to collaborate with one of the fastest growing digital banks, namely Bank Neo Commerce.

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The collaboration is enabled by an integrated and secure IT system, which allows a fast and secure processing of incoming transactions, in order to offer the best protection to our customers.

Lina added, with the Payer to Partner spirit, MAGI is committed to not merely be a claim payer, but also a partner, for each customer in every stage of their life.

“The collaboration with BNC equips MAGI with a wider reach to its customers,” she said.

Bank Neo Commerce was acquired by the Akulaku business group – the leading digital banking and finance platform in Southeast Asia, operating in 4 major countries: Indonesia, Philippines, Vietnam, and Malaysia.

Moreover, BNC is one of the digital banks with the fastest growth in number of customers with more than 17 million customers until May 2022. Through their digital ecosystem, neobank application users can do various banking transactions with attractive financial transaction features.

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The President Director of Bank Neo Commerce, Tjandra Gunawan, said, Bank Neo Commerce is more than just a bank, Bank Neo Commerce are strive, with the support of technology advances, to provide digital-based inclusive financial services that are beneficial and can be easily owned by everyone.

“The partnership with MAGI enriches our product and service portfolio, providing convenience to customers in choosing, accessing, and acquiring the protection they need,” He said.

At the first stage, one of the products that can be accessed and owned by BNC customers is the Bancaasurance Hospital Cash Plan (HCP), at a very affordable premium. Going forward, together with BNC, MAGI will introduce a broader range of health and general insurance protections.