Commonwealth eyes 40 percent increase in revenues next year

The Jakarta Post, Jakarta

PT Commonwealth Life hopes to achieve 40 percent growth in sales next year after the introduction Wednesday of three new technology initiatives to improve business efficiency and customer satisfaction, executives say.

"We are targeting a minimum increase in premium revenue of 40 percent next year," president director Simon Bennett told a media gathering.

The company earned Rp 541.26 billion (around US$59 million) in premium revenue last year. During the first nine months of this year, its premium revenue amounted to Rp 513 billion.

The new initiatives, which make up the first stage of Commonwealth Life's project to establish "one-comprehensive" service, consists of a corporate website, text-based communications services, and agency e-services.

"The technology-based one-comprehensive service is dedicated to our customers and sales staff, who are our key stakeholders. It's part of our strategy, which is also aimed at increasing customer satisfaction by facilitating information and communication exchange between the company and its stakeholders," Bennett said.

Commonwealth Life's corporate website now allows customers to download and return insurance forms, including claims, over the Internet.

Meanwhile, the text system provides customers with information pertaining to the status of new applications, currency exchange rates, unit prices, and details of the account to which an insurance premium is paid.

The agency e-services facility, which is aimed at the company's sales force, streamlines insurance policy processes by cutting down on manual administration work and providing agents with the latest company information that they need for their work.

Commonwealth Life, 80 percent owned by Commonwealth Bank of Australia, was established in 1992 as Astra Jardine CMG Life. It currently operates in 15 major cities around the country, and has over 3,400 agents serving some 80,000 customers. (amr)
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