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PT Zurich Insurance Indonesia announces the launch of Zurich Business Guard insurance to meet the needs of Small & Medium Enterprises owners


Jakarta 18 March, 2015 – Today PT Zurich Insurance Indonesia (Zurich Indonesia) announced the launch of Zurich Business Guard insurance product to meet the increasingly complex and evolving protection needs faced by owners of SMEs (Small and Medium Enterprises). Research shows companies that belong to the SMEs in Indonesia has long been the driving wheel of economic growth. SME’s make uponly about 1.2% of Indonesia’s companies but account for around 7% of all jobs and contribute 22% to Indonesia GDP(source: ministry of cooperative and SMEs).  Despite this SME’s face huge hurtles and risks.  Indonesia ranks number 120 in terms of ease of doing business globally (source: Doing Business 2015, Economic Profile 2015 – Indonesia, http://www.doingbusiness.org).

Brian J Berry, President Director & CEO of PT Zurich Insurance Indonesia, stated,”Competition is fierce and challenges abound for SME businesses.  With these stakes, it is not too surprising that SME’s have often ignored protecting insurable risks.  The market penetration in insurance for SME’s is low and the products are ill adapted to the growing needs of the entrepreneurial market”. It is in this context with the promise of an enormous market and the opportunity of an underserved need that Zurich Business Guard is launchedat affordable premiums to provide a comprehensive protection solution in a simple and easy to understand format that allows for customer choice.

Developing SMEs by encouraging them to improve the business of micro-enterprises into small, small into medium, and medium becomes large is key for people’s welfare and economic growth in Indonesia. “Unfortunately a lot of business stop in the middle class, and difficult or even not  able to rise to large businesses, one of them because of the high risk”, stated by Dr. Eugenia Mardanugraha, S.Si.,M.E – Director of SME Center – Faculty of Economics & Business University of Indonesia.” Insurance protection may be the ideal answer for non-business risk management, this certainly needs support from insurance companies to provide products that suit the needs of SMEs and also continue to educate and socialize the importance of insurance”, she further explain.

Zurich Business Guard, protects your business property (Building, Content and Stock) from the unexpected: Fires, Natural Disasters, Floods, Theft and more, but the cover does not stop there.  Zurich Business Guard protection extends to Liability and also additional benefits to give SME owners peace of mind at all times.

Innovative additional benefits include Business Continuity and Temporary Residential Accommodation daily allowances, Deterioration of Stock, Machinery Breakdown, Money in Safe and in Transit and much more.  With three coverage levels and up to 61 different benefits and coverage extensions we are convinced Zurich Business Guard will complement the company’s portfolio to provide protection solution for Indonesia.

The Kim Tjiang – Head of Small Business Segment Zurich Insurance Indonesia stated,” The launch of this product increases the variety of products offered by Zurich Indonesia to assist customers in meeting their insurance needs. It is the embodiment of our passion to improve service quality by not only developing quality and innovative product but also having competitive priced comprehensive insurance protection solutions for your business”.

About Zurich

Zurich Insurance Group (Zurich Group) is a leading multi-line insurer that serves its customers in global and local markets. With more than 55,000 employees, it provides a wide range of general insurance and life insurance products and services. Zurich Group customers include individuals, small businesses, and mid-sized and large companies, including multinational corporations, in more than 170 countries. The Zurich Group is headquartered in Zurich, Switzerland, where it was founded in 1872. Further information about Zurich Group is available at www.zurich.com.

The insurer of this product, PT Zurich Insurance Indonesia, is a general insurance company registered and supervised by the Indonesia Financial Services Authority (OJK) and is a member of the global Zurich Group. Established in 1991 as a joint venture general insurer, the company is dedicated to serving individuals, small to medium-sized companies, as well as corporate customers by providing general insurance solutions. Further information about Zurich in Indonesia is available at www.zurich.co.id

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