Insurtech's "Safe" Platform Helps Businesses Manage Employee Health Benefits

One of the sectors that experienced positive growth in the last three years is insurtech. One of them is proven through statistics product adoption growth, throughout 2019 the premiums that have been recorded have reached 185,3 trillion Rupiah for life insurance and 80,1 trillion Rupiah for health insurance.

There are several basic reasons why insurtech projected to thrive here. Citing the results of the Munich Re Economic Research study, Indonesia will lead the growth of health and life insurance premiums from 2019-2030, with a CAGR of 9,1%.

Seeing this opportunity, Steven Tannason then founded the platform insurtech named Safe. His experience while working at ByteDance and Google, then sparked the idea to establish a technology-based insurance startup.

"It all started earlier this year when I, as an Indonesian who has lived abroad for ten years, decided to return home to help build the nation. I was connected through a friend with co-founder Le Khanh An, a Vietnamese citizen who has called Jakarta his home for the last five years," said Steven

Safe business focus

Targeting B2B cement, Aman's target users are companies that use employee benefits as a strategy to attract and retain talent. The monetization strategy implemented is, by helping insurance partners to serve their companies and employees on web and mobile platforms.

"We focus on the employee health benefits space (employee health benefits). Perhaps you would assume that the market is already equipped with technology. However, that's not really the case, most of the experience of finding, buying, and managing employee health insurance is still done in a paper-based manual process," said Steven.

The current pandemic condition is proof of its own for the platform insurtech such as Safe to validate and grow the business. Steven sees that many Indonesians are much more aware of the importance of health and safety nets.

"Time and again we hear from employees who don't mind taking a new job with lower pay but better health benefits. However, as we've witnessed over the last few months, we've been forced to change the way we do things and this is for sure. applies to old, manual, paper-based processes," said Steven.

In short, the Secure digital platform helps companies to easily find, purchase and manage health insurance for their employees, which includes benefits registration, claims monitoring, and reporting and analytics.

In Indonesia itself, landscape insurtech began to attract the attention of many parties. Report DSResearch titled "Insurtech Strategic Innovation” has mapped several local startups already operating in the landscape.

SYNRGY accelerator program

Aman is one of the startups participating in the accelerator program SYNRGY Batch 3 initiated by BCA. Mentioned what kind of experience and benefits what Aman got during the program, Steven said the program was an inspiration for the company.

"We were impressed by the caliber of fellow startups participating in this program, including founders who dare to solve big problems in space such as AR/VR and blockchain. This is what our nation needs today, more than ever - founders brave enough to solve big problems," said Steven.

Even though it has only been launched a few months, now Aman claims to have received a positive response from customers and partners. Currently they are trying to "on track" serving several thousand employees on the platform. As a business that sits at the intersection of three fields, namely human resources, insurance and health; Aman has a target to achieve this year, which is to focus on customers.

"Our customers are at the center of everything we do, that's why our plan is to ensure that we provide them with the best employee benefits and financial health experience. When we focus on our customers, the value will take care of itself," said Steven.