Foray into the General Insurance Business in Indonesia

We recently signed an agreement with QBE Asia Pacific Holdings Limited and QBE Insurance (International) Pty Limited on 10 December to acquire 100% of the shares in PT QBE General Insurance Indonesia (“QBE Indonesia”). 

This agreement is a significant milestone for the Great Eastern Group and marks our first foray into the general insurance business in Indonesia, a country with a fast growing economy, the largest population in South East Asia and low insurance penetration.

QBE Indonesia has a rich history in the Indonesian general insurance market dating back more than 100 years and is a strategic fit for Great Eastern, providing us the exciting opportunity to provide a comprehensive suite of both general and life insurance solutions.

Commented Khor Hock Seng, Group CEO of Great Eastern Holdings, “The acquisition of QBE Indonesia is part of our broader business strategy to further build our general insurance operations into a significant business pillar for the Great Eastern Group and to deepen our footprint in Indonesia.”

The transaction is expected to be completed in the first half year 2019, subject to regulatory approval from Otoritas Jasa Keuangan and the Monetary Authority of Singapore.

Back to top

“MAD for GOOD” with Great Eastern Cares and Kids@Work

Great Eastern Cares! On 6 December, 110 staff volunteers from Great Eastern and Lion Global Investors, with their children, embarked on a “MAD (Make A Difference) for GOOD” mission.

The staff volunteers and their children spent the morning making healthy muesli snacks which were subsequently sold in a one-hour speed sale, raising a total of $5,500 for AWWA Community Home.

They then hosted elderly beneficiaries from AWWA to an afternoon of rousing performances, carolling and fun activities, including art therapy in the form of tote bag painting

Through the event, the volunteers and children brought some festive cheer to the elderly beneficiaries at AWWA and it was also a good opportunity for the children to learn how they can make a meaningful difference to others even at a young age.

Community Programmes in West Java

Great Eastern Life Indonesia (GELI) partnered Bank OCBC NISP to conduct community programmes in Karawang, West Java, in November.

One programme saw more than 100 homes in Cilele Village provided with LIMAR (Listrik Mandiri Rakyat / Independent Electricity) packages, which included electronics equipment as well as environmentally-friendly lamps.  Stationery, books and sports equipment were also given to the students in Cilele Village.

In another programme, GELI and Bank OCBC NISP provided repairs and improvements to a school in Wanajaya Village.

With these community programmes, GELI hopes to improve the quality of life among the people in West Java.

Back to top

Inaugural Regional Agency Conference

The inaugural Regional Agency Conference was held in Singapore at Hotel Jen Orchardgateway. It was attended by more than 30 participants comprising Heads of Departments and Section Heads from Agency functions across GELS, GELM, GETB and GELB.

To kick-start the conference, Group CEO Mr Khor Hock Seng shared on why a good agency needs a competitive product. In addition, he noted that while external forces such as recent world digitalisation have pushed us to change in our methodology, our fundamentals and values remain intact.

This was followed by Mr Ben Tan, MD of Regional Agency/FA and Bancassurance, who shared on the evolving state of the agency and the continued importance of the agency in the digital service model. GELM Chief Agency Officer Mr Song Hock Wan further shared on the impact of the implementation of BNM's The Life Insurance and Family Takaful Framework.

The Regional Agency and FA team then hosted the delegates to a sumptuous barbeque dinner where participants had the opportunity to mingle and interact with colleagues and their respective regional counterparts.

The second day was opened with a sharing by GETB CEO, Mr Shahrul Azlan Shahriman on GETB’s vision and journey towards top 3 Takaful provider in 2020. This was followed by the sharing of key initiatives, success stories and exchange of ideas for potential collaboration across the regions relating to agency recruitment, training and business development.

In addition, invited colleagues from Strategy and Transformation division shared updates on the Digital Franchise Platform’s key proposition, namely GreatAdvice, GreatPlanner, GreatPortfolio and GERICA as well as updates on GETGREAT Health and Wellness Ecosystem and UPGREAT Lifestyle Ecosystem.

GELM CEO Dato Koh Yaw Hui concluded the conference by encouraging the team that in addition to sharing success stories, they should also identify areas of shortcomings and lessons on how to improve in order to deliver business goals. He encouraged continued collaboration and ongoing engagement after participants return to their respective offices.

Back to top

Partnering with Samsung and Capitaland to Reward Customers

Great Eastern partners with Samsung and Capitaland to reward their respective customers with special Great Eastern insurance promotions.

In our partnership with Samsung, all Samsung Pay users received a complimentary three-month personal accident plan by Great Eastern General Insurance as a year-end token of appreciation.

The plan – named GREAT Easy Cover – offers up to S$5,000 coverage for accidental death or permanent total disability and Samsung Pay users were able to register and activate the plan within the mobile app by simply providing basic information about themselves.

Meanwhile for the first time, users of CapitaStar – the rewards programme of Singapore’s biggest mall developer Capitaland – were able to enjoy insurance e-deals from the rewards platform.

In addition to deals offering up to 50% discount off travel insurance, members also stand to earn up to 3,500 STAR$ (the rewards currency for CapitaStar) with every insurance e-deal they get.

Look out for more exciting partnership initiatives with Samsung and Capitaland in 2019!

Financial Literacy Seminar for ZALORA Indonesia Staff

In support of the Otoritas Jasa Keuangan programme aimed at enhancing financial literacy in Indonesia, GELI conducted a financial literacy seminar for staff of our corporate partner ZALORA Indonesia.

In addition to learning the fundamentals of financial literacy, participants underwent a financial check-up and personal financial consultation with Great Eastern consultants.

Through the seminar, participants came away with the confidence to take charge of their financial well-being – a positive step towards building a more financially-literate society.

Back to top

Exciting Tie-ups and Offerings Lined Up for UPGREAT Users

UPGREAT users can now enjoy new exciting offerings!

KrisFlyer

UPGREAT users will be able to convert their UPGREAT Points to KrisFlyer Miles. With 1000 UPGREAT Points, users can redeem 330 KrisFlyer Miles.

Gain City

From now until 11 March 2019, UPGREAT users can enjoy 10% off air con servicing from Gain City. Redemption only available through UPGREAT.

GEGM Launches GREAT Ride Shield

As part of our commitment to provide affordable insurance solutions to underserved segments and to expand our existing product suite, GEGM introduced GREAT Ride Shield on 10 December 2018.

Designed with motorcyclists in mind, GREAT Ride Shield is a Personal Accident plan designed to provide financial protection should an accident happen. The product also offers several types of allowances, including Hospital Income, Supplementary Cash Relief Allowance and Bereavement Allowance/Funeral Allowance to alleviate financial burden in the event of a mishap.

Back to top

Halfway to One

On 16 October 2018, we collaborated with Director Tracy Soh and financial representative Dionne Ser to host 32 mothers whose babies were born in the month of March 2018 for the event, “Halfway to One”, at the Live Great Space.

The participants enjoyed simple and fun activities such as Best Dressed and Fastest Crawler organised for the mothers to take part in together with their babies. In addition, our Traditional Chinese Medicine (TCM) partner Kim Teck Tong was invited to conduct an informative paediatric massage sharing and demonstration session.

The participants were delighted with the goodie bag they took away from the event, filled with a variety of useful contents sponsored by some of our Live Great partners such as Blackmores, Kodomo, Cetaphil, Pigeon, Kin Teck Tong, Wakodo, Babynatureco and Gaia.

At the end of the event, a lucky draw was conducted and everyone received a prize, ranging from a Disney Tsum Tsum stationery set to baby clothes, LePosh and momostudio  vouchers.

Away Day for GETB Staff

The staff of GETB celebrated an enjoyable Away Day at the movies on 19 October.

The event, organised by the Groovy Club in collaboration with GETB’s Human Capital Department, was held at GSC Cinema, Sunway Velocity Mall, with the objective of engaging staff and management through interactive activities while providing insights into business achievements and plans.

Participants came in an army/green theme and enjoyed food and refreshments, games and a lucky draw at the GSC Cinema foyer. There was also a surprise birthday celebration for all the October babies as well as a best-dressed contest, which rewarded four staff who came in the most interesting outfits.

GETB CEO Shahrul Azlan Shahriman then gave an address, providing business updates and achievements for the third quarter of 2018. He also presented long-service awards to 19 staff, before the movie was screened.  

Back to top

Awards and Accolades

Singapore

The Annual Appreciation Awards 2018 in Singapore was a special occasion this year. We celebrated not one but two significant events. Besides the award ceremony, we also commemorated the signing of our latest Collective Agreement 2018 – 2020.

In an increasingly competitive environment, a key factor towards building a progressive harmonious workplace is the commitment of the organisation and the union. Our union partners have been great supporters of Great Eastern and with their support, Great Eastern will be poised for greater achievements in the future.

The Annual Appreciation Awards also recognised our long-serving and dedicated colleagues. It speaks well of Great Eastern to have over 80 long service staff, out of whom 16 have been with the company for 20 years and more. They are an inspiration to us and we would like to thank them for their commitment and contributions.

We also acknowledged our “youngest” but definitely not the least important group – our 29 five-year award recipients. Hear what some of them have to share about their experiences and insights at Great Eastern! 

Indonesia

Congratulations to GELI for receiving two awards at the Turkey Global Summit Awards 2018:

• Best Company for a Private Foreign Company (Life Insurance), awarded to Great Eastern Life Indonesia
• Best Global Leaders in Asia & Turkey, awarded to Clement Lien Cheong Kiat, CEO of Great Eastern Life Indonesia

Back to top