Great Eastern Life Indonesia has partnered with Bank OCBC NISP to launch a new product called Legacy Protector. According to a press statement, this comes as Great Eastern Indonesia looks to reposition itself as a bancassurance specialist. This was according to Clement Lien, president director and chief executive of Great Eastern Life Indonesia.
In addition, the move will allow Great Eastern Indonesia to concentrate on creating new products and improve its processes to better meet the bancassurance needs of its customers. Marketing has reached out to Great Eastern Life Indonesia for comment.
The report added that the new product would be issued across Bank OCBC NISP’s branches nationwide, which includes 340 branches over 61 cities in Indonesia. It aims to offer better financial security and protect to users. Great Eastern Life itself commenced its operations in Indonesia in 1996. Great Eastern Life has decided to make Indonesia its third pillar of growth, after Singapore and Malaysia. This means more resources and focus will be given to Indonesia to support its growth, the brand said in a statement.
Most recently in Singapore, Great Eastern Holdings rebranded its general insurance arm, Overseas Assurance Corporation (OAC) to Great Eastern General Insurance (GEG) in Singapore. Operations in Malaysia followed suit in August 2017.