Saturday, July 31, 2010

Allianz Indonesia


Allianz Group

Allianz is one of the largest global providers of insurance and asset management.

Founded in 1890 in Germany, Allianz is a company with a long history and a strong tradition. Allianz now operates in more than 70 countries all over the world and serves more than 76 million clients around the world. In addition, Allianz provides insurance coverage and its services to almost half of the Fortune 500 companies.

In fiscal 2010 the Allianz Group achieved total revenues of over 106.5 billion euros. By the end of 2010, Allianz was recorded as the world’s largest asset managers, with third-party assets of 1.164 billion euros under management.

In September 2006, an agreement to merge the company was signed between Allianz AG and RAS Holding S.p.A. Allianz AG from then on, changed its legal form to a Societas Europaea (SE), a European company. Following the registration procedures in Italy and Germany, on October 16, 2006 Allianz SE became the first company registered in the DJ EURO STOXX 50 Index.


Allianz in Asia Pasific

Asia Pacific is one of Allianz’s three major growth regions. It is characterized by its rich diversity of cultures, languages and customs. Allianz has been presented in the region since 1917, providing fire and marine insurance in the coastal cities of China.

In Asia Pacific, Allianz presents in 15 markets offering its core businesses of property and casualty insurance, life and health insurance, and asset management. With more than 14,500 staff Allianz serve the needs of over 21.5 million customers in the region. Allianz's ability to adapt quickly to local needs has been the key to its success.


Allianz Indonesia

Allianz started its operations in Indonesia with a representative office in 1981. In 1989, Allianz established PT Asuransi Allianz Utama Indonesia, a general insurance company. Furthermore, Allianz entered the Indonesian life insurance market by opening PT Asuransi Allianz Life Indonesia in 1996. In 2006, Allianz Utama and Allianz Life Indonesia started sharia insurance business.

In 2007, Allianz Indonesia introduces Allianz Center as One Stop Solutions concept, where customer and agent of Allianz get insurance services in one premise. Allianz Center has operated in Jakarta, Surabaya, Bandung and Denpasar.

Now, Allianz Indonesia presents in 44 cities with 80 service centers, supported by more than 14,000 agents with more than 1,000 employees and solid banking partners to serve our customer. Allianz Indonesia gives you insurance solution from A to Z.

In 2010, both Allianz in Indonesia; Allianz Utama and Allianz Life Indonesia reached total premium income Gross Written Premium (GWP) at IDR 5.6 trillion.

Today, Allianz in Indonesia is one of the leading insurance groups in the market who has been trusted to serve more than 1.8 million policyholders consisting of individual and corporate customers.

Friday, July 23, 2010

More Than Anyone Else, Who Needs The CLASS Act?

I'll be the first to raise my hand in response to this question. Prior to considering the Community Living Assistance Services and Supports Act (CLASS Act), the first of many health reforms which the government is working on and which was signed into law just last year by the President, I thought about purchasing a private long term care insurance policy.

At 69 and showing symptoms of hypertension and obesity, I was unfortunately told that I'll be paying a much higher annual premium. Why? Well, it appears I'll be requiring long term care (LTC) anytime soon.

Good thing I have not thought about retiring yet and I have only one reason for still working like a dog - I'm still without a long term care plan.

I've been reading a lot about the cost of long term care as of late and mind you, the value of LTC facilities here in my area is definitely much more than the much coveted Yamashita treasure which was buried in the Philippines.

There is a big percentage of us elders who wish to stay home even after an event subjects us to long term care. If I become disabled one day, I would personally prefer a home health aide to come into my home every day and assist me in my usual activities of daily living and, perhaps, I can also hire somebody to cook, clean the house, do my laundry and perform other household chores.

I learned that the CLASS Act covers both home care and community-based LTC plus it will also shoulder home modifications if deemed necessary for an individual's functional problems.

Thinking about my future and planning it seems so easy and doable until I stumbled upon the data of current long term care costs which was provided by leading LTC insurance providers. Looking at the huge figures made me wish that these are at stake in the lottery instead of being the current value of LTC services.

I can't believe that those who are currently receiving home care are spending approximately $155 a day for a home health aide's few hours of services. Those who require homemaker services are forking out $139 a day! These numbers do not include their daily expenses on food and other basic necessities yet.

I wonder how much I'll need when it's my turn to receive care 20 years from now, as LTC experts predicted cost of care will be four times more than what the public is enduring at present. I'll be 89 by then and I can only pray that I'll be able to manage my future health care expenses.

Hopefully, by the time I'm 76 I would be done paying the five-year annual premium of the Act as it won't be until 2013 before the public can apply for membership and start paying the premium. Even if I retire from my present job which I've been dedicated to for the past 30 years, I can secure a home-based job to avoid being disqualified from this health program. It is, after all, stipulated in the Act's guidelines that anybody aged 18 and older who is employed or self-employed is eligible to apply for membership.