Bosowa Insurance in Indonesia

JOINT VENTURES | INVESTMENT

Bosowa Asuransi

Organisation

Mr Siegfried Cornelius
Salawati

President Director

Mr Makmur Tayeb

Financial Director

Mr Bisker Miliater Marpaung

Marketing Director

Drs. Ellong Tjandra, MM

President Commissioner

Mr Bonatua Sinaga

Independent Commissioner

Mr M. Abdul Azis

Commissioner

Mr Siegfried Cornelius Salawati received his professional certification from the Chartered Insurance Institute, London, UK and began his career at Stewart Wrightson Reinsurance Brokers, London. Mr Salawati has served in a variety of positions in the insurance industry at MAI PARK Insurance, Insurance Central Asia and Prima Perkasa International Insurance. Mr Salawati joined Bosowa Periskop Insurance in 2007 as Managing Director and was appointed as President Director in 2010.

Mr Makmur Tayeb currently serves as the Financial Director of Bosowa Asuransi, having first been appointed to this position in April 2015. Mr Tayeb began his career at Bosowa Group Makassar and has since gone on to hold several top level positions at PT Bosowa Plastindo Bali and PT Bosowa Multi Finance.

Mr Tayeb obtained his bachelors degree in Management from STIE YPUP Makassar in 1997.

Mr Bisker Miliater Marpaung received his formal education in Accountancy and Insurance from the Institute of Business, Economics and Finance, Jakarta, Indonesia and Trisakti University respectively. He obtained a Masters in Management in the field of Financial Management from IMMI. Mr Marpaung joined Periskop Insurance COY Limited (as it was known before becoming part of Bosowa Group) in 1990 and rose through the ranks of the company before being appointed as Director in 2010.

Drs. Ellong Tjandra is the current President Commissioner of Bosowa Asuransi, a position he has held since November 2014. Prior to taking this role, he served as the President Director of Bank Sulselbar. Drs. Tjandra is a seasoned professional in the financial sector whose extensive experience includes top management positions in several of Indonesia’s largest banks.

Drs. Tjandra obtained a bachelors degree from the Faculty of Economics at Hasanuddin University in 1981. He further pursued a masters degree in management at STIE Jakarta, graduating in 2002.

Mr Bonatua Sinaga received his professional training at the Jakarta Insurance Institute, Jakarta, Indonesia and underwent his professional certification in Honolulu, Hawaii, USA. Mr Sinaga has served in a variety of positions at the Ministry of Finance including Head of Analysis for the Insurance sector. He currently serves as an Independent Commissioner for Bosowa Periskop Insurance.

Mr M. Abdul Aziz is an experienced professional within the financial services sector having worked in the banking sector at Bank Exim, Bank Syariah Mandiri and PT. Staco Bosowa Finance which is also part of the Bosowa Group. Mr Aziz joined Bosowa Periskop Insurance in 2006 and served as President Director from 2007 and in 2010 he was appointed as President Commissioner.

East Indonesia’s Potential

Bosowa Group originally hails from Makassar, Sulawesi in East Indonesia and while the group and its subsidiaries have a nationwide presence, the group maintains a strong affiliation with its roots in the East of the country. The group continues to play a key role in the development of the East of Indonesia through infrastructure development projects such as toll roads and power plants as well as signature property developments and financial services.

East Indonesia which encompasses the regions of Sulawesi, Papua and East Nusa Tenggara is undergoing a period of rapid growth and transformation. The region has shown economic growth of 8-10% annually; above the Indonesian national average of 6.5% thereby illustrating the specific potential that the region has to offer given its natural resources in oil, gas and mining commodities. This potential is now being recognised through the country’s MP3EI plan which identifies the region as one of the key six economic corridors for Indonesia’s development as well as other investment initiatives being undertaken by the Indonesian government.

Bosowa Group and Bosowa Asuransi enjoy a unique position and market presence in the East of Indonesia and are targeting the region for future growth in insurance and financial services. Bosowa Asuransi is well placed in the market to take full advantage of the imminent demand from corporations and individuals in areas such as property insurance coverage, automobile insurance and marine cargo insurance among others, to play a crucial role in the region’s further growth and development.

Preparing for the Future

As Bosowa Asuransi enters a new phase in its development, the company is preparing itself on all fronts to be a top five player in Indonesia’s middle range insurance sector. To achieve this, the company is executing fundamental changes with regards to its internal management system, IT infrastructure and human resources training as well as branding and distribution channels.

Having recently bolstered its capital base, the company is aiming to increase its corporate portfolio and undertake larger scale projects from Bosowa Group’s subsidiaries as well as external clients in the engineering and construction sectors. In order to serve clients to the highest possible standards, all of Bosowa Asuransi's human resources, at every level of the company, are undergoing intensive training and development. A new corporate culture and renewed standards of professionalism in all aspects of the business are also being implemented as part of the fundamental transformation of the company.

In the lead up to the ASEAN One Market in 2015, Bosowa Asuransi is preparing and positioning itself to effectively compete with its regional counterparts. Technology and IT infrastructure will play a crucial role in this as the company explores new distribution channels and streamlines the customer experience with real time claims procedures and communication.