Great Eastern Life has repositioned its business orientations in Indonesia as a bancassurance provider.
In cooperation with Bank OCBC NISP, Great Eastern Insurance has launched its new product Legacy Protector.
Research carried out by the Singapore-based company identified a gap in the market for the products, which led to the repositioning of the business, said Clement Lien, president director for Great Eastern Life, Indonesia.
The new bancassurance offers risk protection not only to the policy holders but also to their descendants.
Lien said “The product can be beneficial for [the next] three to four generations and it is also transferable to the children or grandchildren.”