BCA Life Books Premium Revenue Of IDR 1.4 Trillion In 2022

Photo: Doc. BCA Life

JAKARTA - PT Asuransi Jiwa BCA (BCA Life), a subsidiary of PT Bank Central Asia Tbk (BCA) managed to maintain a positive performance trend throughout 2022 driven by sales growth from marketing channels for bancassurance, agency, telemarketing, corporate business, and digital amid positive momentum global economic recovery.

Throughout 2022 BCA Life managed to record premium income of IDR 1.4 trillion, growing 5 percent compared to the previous year or year-on-year (yoy). In addition, Perseoran also managed to record a comprehensive profit of IDR 51.7 billion, a significant increase of 29 percent compared to the previous year.

With total customers reaching 511,989 people, BCA Life successfully fulfilled its obligation to pay claims and benefits of Rp. 649.9 billion and maintain a strong capital position to support its entire business operations with a capacity-based capital (RBC) ratio of 428.8 percent.

On the other hand, BCA Life also recorded growth in assets of 22 percent, which was IDR 2.35 trillion. Not only that, supported by technical equipment which rose 20 percent compared to the previous year to IDR 1.57 trillion, which further solidified the Company's position to navigate 2023 which was full of challenges.

Christine Setyabudhi, President Director & Chief Executive Officer (CEO) of BCA Life, said, in the midst of the momentum of global economic recovery, the Company's positive performance achievement was driven by innovation and transformation in various lines and could not be separated from the Company's spirit to continue to improve product quality and services for customers.

"We continue to explore the potential to develop the market segment and prepare innovative products that can meet the needs of the community today. Even though the global economic challenges are not over, we are still confident that we will achieve our main goal, which is to always protect more Indonesian families," Christine said in her statement, quoted Monday, April 10.

Health insurance growth has increased since a pandemic where health is the main and most important thing that needs to be maintained. Citing AAJI data, health insurance claims throughout 2022 reached IDR 11.47 trillion, an increase of 35.1 percent when compared to the same period in the previous year where most claims payments came from individual health claims.

This indicates that mental and health protection is very necessary, especially with the emergence of various new variants of COVID-19 and various other health protection needs needed by the community.

Seeing the positive trend from the community, BCA Life has launched BCA Life Health Protection Ultima, a cashless health insurance product with comprehensive, flexible benefits with affordable premiums to increase the comfort of health protection.

In addition to being simple, BCA Life for the Health Protection of Ultima offers several choices of health care protection plans that cover the territory of Indonesia, Asia, to the rest of the world (except the United States), the annual benefit limit is up to IDR 15 billion with additional annual booster benefits of up to IDR 45 billion.

Not only that, this product also covers traditional Chinese medicine, dialysis, and compensation for death due to any cause.

It is hoped that with the BCA Life product for the Health Protection of Ultima, customers can live a quieter and more comfortable life without worrying about the increase in health costs needed in the future considering that insurance protection is one of the efforts to provide extra protection for the financial plans that we have prepared in the future.