The collaboration between Mandiri AXA General Insurance (Mandiri AXA) and Mandiri Tunas Finance (MTF) is now getting closer by continuing to provide motor vehicle protection innovations for customers. The synergy between the two Bank Mandiri Group subsidiaries was announced in Jakarta through the launch of the Guaranteed Auto Protection program today which was attended by Mandiri AXA Sales and Distribution Director Syah Amondaris, Sales & Marketing Director Mandiri Tunas Finance (MTF) Harjanto Tjitohardjojo, and Regional Head AXA Creditor Asia Phillipe Demangeat.

 “We are proud of the collaboration announced today, Mandiri AXA's main business strategy is to grow by increasing our presence in the market and innovating to provide the best service for customers in collaboration with our partners from the Bank Mandiri group,” said Shah Amondaris. “The commitment to synergize with our partners from the Bank Mandiri Group is realized by continuing to grow by increasing our presence in the market, accompanying Bank Mandiri and its various subsidiaries, including MTF.”

Mandiri AXA's synergy with MTF has so far driven quite high growth in vehicle insurance premium income. Currently motor vehicle protection is the main contributor to Mandiri AXA's general insurance business or more than 60 percent of the company's revenue. Mandiri AXA  cooperates with MTF to support and accommodate the needs of customers who take out motor vehicle loans from MTF.

 “In line with its mission to support the development of the Bank Mandiri Group, Mandiri Tunas Finance is ready to synergize with Mandiri AXA in working on the growing motor vehicle insurance market,” said Harjanto Tjitohardjojo. “We hope that in the future this conducive market situation will create new opportunities for service innovation to meet the needs of MTF customers.”

 Depreciation in the value of vehicle assets, which ranges from 10-25 percent per year, often causes motor vehicle customers to not be able to fully experience the value of their vehicle when submitting a total loss claim after the second year of ownership.

 Through Guaranteed Auto Protection (GAP), policy holders can get protection against the difference between the replacement amount received from the Mandiri AXA motor vehicle insurance policy  when claiming a total loss (Total Loss) and initial purchase price of the vehicle. Currently, compensation for total losses is generally only based on... asset value according to market price.

 “Guaranteed Auto Protection is a manifestation of Mandiri AXA's commitment to continue to innovate and provide protection solutions for customers that exceed existing industry standards. "This product is also a form of solid synergy between Mandiri AXA and MTF in providing the best service for customers," said Syah Amondaris.

 Guaranteed Auto Protection is currently available for customers who take out new vehicle credit facilities from Mandiri Tunas Finance in ten regions of Indonesia, namely; Semarang, Purwokerto, Medan, Serang, Cilegon, Serpong, Banjarmasin, Malang and Mataram.