Tuesday, September 3, 2019

Gojek Riders - Funding Big Mouth Blue Taxi

Gojek riders, who held a demonstration outside the Malaysian embassy in Jakarta today, also raised money to fund the expenses of Big Blue Taxi Facilities Sdn Bhd's founder, Shamsubahrin Ismail to Jakarta.
More than 400 Gojek riders held a peaceful protest outside the embassy in protest of Shamsubahrin's earlier statement, which allegedly insulted Gojek riders and Indonesia.
This was due to a recent video that went viral in Indonesia where Shamsubahrin made a statement considered derogatory to Gojek riders and Indonesia.
"This (Indonesia) is a poor country, we (Malaysia) are a rich country. If Indonesia’s youths are any good, they would not leave their country to look for a job. Gojek is only for the poor like those in Jakarta," according to the video excerpt.
Gojek's spokeswoman Theresia Ismiyanti said they wanted Shamsubahrin to come to Jakarta and apologise publicly to Gojek riders. During the demonstration, they also raised money among Gojek riders to fund Shamsubahrin’s trip to Jakarta.
On Aug 30, Gabungan Aksi Roda Dua Indonesia (Garda) confirmed receiving Sahmsubahrin’s apology. Garda chief Igun Wicaksono said the apology was handed over to the Malaysian embassy in Jakarta during his meeting with the embassy officers led by the Malaysian Police Attache in Indonesia, Abu Bakar Yaacob.

Monday, September 2, 2019

Battling Smoking In Indonesia - A Double-edged Sword

A child smokes a cigarette in Indonesia.Walking through rural Indonesia, it's not uncommon to see primary school children smoking cigarettes. It's just one part of an epidemic in a country where nearly 70 per cent of all men and one in five children aged between 13 and 15 smoke, according to official data.
Indonesia has one of the highest smoking rates in the world and a tobacco industry that continues to thrive as the number of smokers decreases globally.
While the legal minimum age for smoking in Indonesia is 18 years old, the industry remains largely unregulated, particularly in more remote parts of the country. In those areas, children can buy a single cigarette from road-side kiosks for as little as few cents.
Indonesia's national addiction to tobacco is not only fuelled by its availability and affordability, but also because of the key role it plays in the country's economy. So while smoking remains the leading cause of preventable deaths in the country, analysts say cracking down on the industry is a "double-edged sword".
Mohammed Faisal, executive director of think tank Centre of Reform on Economics Indonesia, told the ABC tobacco has historically been one of Indonesia's largest national industries, with the hand-rolled kretek clove cigarettes ingrained in Indonesian culture.
Excise duties on cigarettes brought in 153 trillion rupiah ($15.8 billion) last year, nearly 96 per cent of the national excise total, and equivalent to 10 per cent of total government revenue, according to the Ministry of Industry.
"There are incredibly wealthy tobacco conglomerates who have the capability of influencing the political systems, particularly in regions which are dependent on the industry," he said.
However, the revenue generated pales in comparison to the massive cost of the public health crisis caused by smoking.
National losses due to cigarette consumption in 2015 reached almost 600 trillion rupiah ($62.2 billion), or four times more than the amount of cigarette excise in the same year, according to the Ministry of Health.
However, Mr Faisal said a collapse of the industry would have damaging consequences and a knock-on effect on many levels of Indonesian society.
The Indonesian Government has taken a different approach to electronic cigarettes, more commonly known as e-cigarettes or vape, applying a high 57 per cent tax on liquid tobacco essences.
Vaping has become a popular alternative for Indonesia's younger generation, with vaping cafes popping up all over major cities like Jakarta, Denpasar and Bandung.
Indonesia's Customs and Excise Office estimates there are 300 liquid makers in Indonesia, producing various liquid products for more than 4,000 vape stores and 900,000 smokers.
While the numbers may seem significant, they are dwarfed by the approximately 60 million regular cigarette smokers in the country, and critics are questioning why the cigarette industry doesn't receive the same treatment.
Abdillah Ahsan, a tobacco economics and politics expert from the University of Indonesia, told the ABC increasing cigarette taxes has been a contentious issue in the country due to the economic, cultural and political costs.
To put it in perspective, the revenue of Philip Morris Indonesia last year was 107 trillion rupiah ($11.1 billion), equivalent to the country's total health budget, he adds.
Cigarettes are also the second biggest contributor to poverty, according to figures released by the bureau of statistics in July, yet Indonesia is one of only eight countries that has not signed the World Health Organisation Framework Convention on Tobacco Control, which includes restrictions on tobacco company lobby groups and sales to children.
The regulatory environment is so favourable that an anti-smoking advocacy group once dubbed Indonesia the "tobacco industry's Disneyland".
Indonesia is also the only country in South-East Asia that still allows direct tobacco advertising, with only a partial ban on radio and television ads during the day.
The country's younger generation is exposed to cigarette advertising on shops, billboards and the internet, as well as through sponsorship for music concerts, sporting leagues and events.
Indonesia's largest tobacco company Sampoerna, owned by Philip Morris International, has also developed its own educational pathway to support underprivileged schools and provide disaster relief efforts.
While Djarum, the third biggest tobacco company, sponsors the national badminton league and has established sports training academies for young people.
But Dr Ahsan said these efforts were a "camouflage".
"Many Indonesian people coming from a lower educational background and therefore are easily influenced by the 'sweet candy' that tobacco companies are offering them," Dr Ahsan said.
"Big tobacco gives out financial aid but it's all just camouflage … donations are exchanged for people's health and livelihood."

Asian Prefers To Buy Direct From Insurer

Image result for DigitalTechnology is becoming a vital aspect of the financial services industry and clients in the Asia Pacific region are looking to be part of the digital age in the life insurance sector. 14,900 adults across Australia, China, Hong Kong, India, Indonesia, Malaysia, Singapore and Thailand - were surveyed - to find out about how consumers are looking to technology. 

The survey found 63% of Indians are considering switching to digital-only life insurers within the next two years. Some 51% of Indonesians felt the same as did 46% of people in Thailand. However, countries in APAC with old wealth are looking to stick with traditional providers. Australians (48%), Hong Kongese (41%) and Singaporeans (38%) were not going to change, but 42% and 39% of people in the latter two, respectively, were not sure. 

Aggressive  The report said: “Like the retail banking scene, insurers are aggressively launching new digital-only life insurance distribution models.
“The new entrants surf on the trend that sees customers using digital channels to interact with their life insurance provider. “Customers also expect agents to be digitally savvy and believe it is important that they are equipped to engage them through digital channels.
Agents - Also, in the report, Singaporeans (46%) were the most likely to want an agent to provide life insurance policies, with Malaysians (41%) and Hong Kongese (32%) making up the top three. 
Only 16% of Indians and Chinese want an intermediary, whereas as small as 9% of Australians want an agent. Chinese (59%), Thailanders (55%) Indians (50%), Indonesians (44%) and Australians (44%) would rather a digital intermediary.
The report added: “For life insurance customers, the situation is more heterogeneous across Asia Pacific countries, with digital channels being preferred in markets such as China, Thailand, India, and Australia.
“In Singapore and Malaysia, agents are still the preferred way for customers to interact with their life insurance provider.”

Asia Embracing Digital Evolution

Image result for DigitalSomething remarkable is happening with Asia Pacific online adults: Their behaviors and expectations are evolving at an unprecedented rate, and they’re embracing innovation faster than ever before. Consumers in Asia Pacific markets are some of the most advanced when it comes to digital engagement.
Their high levels of empowerment affect how they choose to interact with their financial services providers, preferring digital channels over physical ones, especially in mobile-first markets like mainland China, India, Thailand, and Indonesia. Seventy-seven percent of banking customers in Asia Pacific prefer digital channels, ranging from 69% in Indonesia to 79% in Thailand. 
For life insurance customers, the situation is more heterogeneous across Asia Pacific markets, with digital channels being preferred in markets such as mainland China, Thailand, India, and Australia. In Singapore and Malaysia, agents are still the preferred way for customers to interact with their life insurance provider. That’s not to say that financial services firms should ignore non-digital touchpoints. 73% of customers across Asia Pacific believe they should be able to accomplish any financial task on a mobile device.
As consumers across Asia Pacific become more empowered, something else is also happening at the same time — the rising tide of digital disruptors. These are players that aim to create differentiation by using digital technologies and making clever use of data to offer simple, personalized, and engaging digital banking experiences. 
As regulators in markets like Australia, Hong Kong, and Singapore release digital banking licenses and other markets follow in their footsteps, the regional retail banking environment is on the cusp of major new digital banking breakthroughs. Forrester found that many customers trust payment firms and technology giants over traditional financial services providers to help them better manage their finances. 
The skepticism that non-traditional digital players won’t make a big impact in the financial services sector is fast disappearing. 
There’s a wide range when it comes to consumers’ openness to switching to digital-only providers in the next 24 months, with 14% of Australian consumers compared to 59% of consumers based in metro India. 
Many customers trust payment firms and technology giants over traditional financial services providers to help them better manage their finances. Global technology giants, digital-only banks and insurers, payment providers, eCommerce players, and even ride-sharing leaders are already threatening established firms by offering simple, convenient, and more personalized digital experiences.
The pace of industry change is about to accelerate, and the stakes are rising. As a leader at a financial institution, you must understand how consumer behavior and financial attitudes are evolving, how your customers want to interact with financial services providers, and what matters to them when it comes to financial goals. 
Why? Because this will have a profound impact on your go-to-market strategy, distribution channel strategy, and your firm’s unique value proposition.

Sun Life Appoints Lion & Lion

Image result for Lion & LionSun Life Financial has selected Lion & Lion as its digital marketing agency. Digital duties include integrated digital strategy, social, creative, campaign production, influencer management and media. The partnership sees Lion & Lion advancing Sun Life Financial’s position in the market by helping Indonesians achieve lifetime financial security and live healthier lives through a range of protection and wealth management solutions.
“The Lion & Lion team came up with a strong digital strategy and based the campaign concepts on market and competitor review, which revealed strengths, weaknesses, opportunities that Sun Life Financial Indonesia could tap into. The team delivered outstanding creative executions which have been a step change from what Sun Life Financial Indonesia has been doing previously,” said Hermawan Kurnianto, digital marketing & creative at Sun Life Financial Indonesia.
Managing Director, John Campbell-Bruce added that Sun Life is now focusing on using digital to transform how it communicates and provides value to their customers.
“We are thrilled to partner with them and push the Sun Life brand to become the number one insurance brand for millennials in Indonesia. Sunlife is a brand that cares for its customers through a connection between financial and physical health; a vision we also share,” he added.

Tips For Selecting Life Insurance

Image result for life insuranceIf you are thinking of protection for your family, heritage and your own person, hiring life insurance may be the best solution, but the question is complicated when knowing how to choose life insurance that really covers your needs effectively in every moment.
The insurance companies of life offered a lot of personal products, which can complicate your decision on how to choose a life insurance by offering different policies with single or combined coverage to ensure capital depending on each type of risk.
That is why in this article we explain some tips that can help you on how to choose life insurance depending on your circumstances, and priorities.

Tips for choosing life insurance

Know some basic terms - One of the issues that may be important before coming to life insurers is familiar with some of the terms used in policies, in order to understand contracts.

What is a life policy? - It is the insurance contract, and it includes all the guarantees with its capitals and the rules by which it will be governed. 
What is the coverage? - These are the risks protected by insurers, and analyzing the different offers of coverage can help you to see which life insurance is best for you. 
What is the insured sum? - It is the maximum capital that life insurance companies will pay for each incident that occurs and is covered by the conditions of the policy.
Who can be beneficiaries of life insurance? - In life and disability insurance , the beneficiary is the same insured if he becomes invalid, while in the case of death the beneficiary can be any person, and with preferential rights over those of an inheritance, unless they are revoked in will. The change of beneficiaries can be done at any time, and as many times as desired. 
Know the main types of life insurance by age - As people begin to encounter family and economic burdens, generally starting in their thirties, they begin to be aware of the need to protect what really matters, and that is when they think about how to choose life insurance.
Under normal conditions if there are no risk factors for the type of profession, dangerous sports activities, health problems, or other issues that can be considered as aggravating by life insurance companies, the younger the person the less premium will pay for his life insurance, since in principle it is understood that he does not suffer the same natural deterioration as an older person.
Life insurance risk - Normally, insurers design a greater amount of life and disability insurance thinking of people between 30 and 65 years of age, which does not exclude that those who are older or younger can have other types of insurance.
Between the ages of 30 and 50/55, the most common is to take out annual renewable temporary life insurance, in which a fixed capital is usually maintained, while the premium varies growing somewhat every year.
But you can also hire decreasing capital with constant premiums, to adjust for example life insurance to the payment of a mortgage, as it is amortized, while the insured increases in age, without incurring a higher expense each year.
Life insurance savings - They are designed for those who show a lot of risk aversion and do not know how to choose life insurance, combining the accumulation of a certain savings that the insured can charge in case of survival as a complement to their retirement if when they reach a certain age it has not occurred the death, with a death or disability coverage in which case the beneficiaries would charge.
Death Insurance - The insurance Death are designed for all ages, ensuring capital to attend funeral services, insurance and addressing all those procedures that are so difficult for the family when you just lost a loved one.

Buy Now Pay Later - Online Shopping

Image result for shoppee
When Evie Khusnul Khotimah logged in to her account on the online shopping app Shopee in May, a curious new payment method caught her attention. The service, called PayLater, allows buyers to purchase items first and settle payments afterwards.

Intrigued by how this worked, the 24-year-old freelance writer from Indonesia gave the new scheme a try – and she has been sold ever since.

“I’ve bought over 10 items with PayLater, the most expensive being a pair of pants that cost 300,000 rupiah (US$21), ” said Evie, who lives in Samarinda in the east of Borneo. “I always pay my bills on time, without instalments. Since I don’t have a credit card, I did not know how it works, but PayLater is teaching me how that works.”