Insurtech Feature Innovation Observes Ease of Customer Access to Emergency Services

Aiming to provide more services to users through insurance products, Cermati collaborated with PT Tidung Jaya Mandiri to release CERA (Cermati Emergency Roadside Assistance). This is a full 24 emergency service that is ready to provide emergency assistance on the highway for four-wheeled vehicle drivers in the DKI Jakarta area.

To DailySocial, Chief Business Officer Pay attention Carlo Gandasubrata revealed, Cermati sees that there are community needs that have not been met when there is a risk when driving even though they already have Vehicle Insurance, because insurance usually only replaces the value of losses after an accident but does not necessarily provide emergency services.

"If there is an accident or the car suddenly breaks down and needs to be towed, then the driver needs to spend time seeking first aid and spending an amount of money that may not be available."

CERA is an innovative service from Cermati.com with the main benefit of providing 24-hour direct assistance for cars that have been registered by users if they experience problems or emergency situations on the road. The assistance that can be obtained includes assistance tow when strike or accident, help jump start battery when the battery dies, as well as replacing or patching a flat tire. This service is included in Cermati's business vertical, namely Cermati Protect (insurtech).

This CERA service is expected to be a solution to overcome various driver concerns when experiencing an emergency situation on the road. In addition, CERA can also be used as an additional vehicle insurance, because it has complementary functions.

"CERA can also be purchased as a complementary product for Vehicle Insurance where not only the value of damage is guaranteed but also can provide peace of mind when an accident occurred while driving in the capital," said Carlo.

This innovation is part of penetration strategy insurtech through microinsurance products. So far, this approach is considered effective in reaching new users -- with relatively affordable costs and easy access via digital. In addition, the model partnership with insurance company strategically also becomes a slick distribution strategy, in line with digital transformation steps that can be taken.

From the data collected DSInnovate in a report entitled "Insurtech Ecosystem in Indonesia Report 2021", the size of the insurance market in Indonesia has reached $20,8 billion in 2020. Potential insurtech quite brilliant, because from the survey there are four elements that become the main variables of insurance adoption: ease of claims, insurance products, costs, and benefits; digital services simplify processes and education [including product information and comparison].

In the aggregator cluster, Cermati competed directly with other players, namely CekAja. While in segment insurtech, there are at least 11 registered players currently serving the market. The two most significant in reach are PasarPolis and Qoala.

Business vertical Pay attention

Launched in April 2015, Cermati is a platform marketplace financial products. In early May 2021 they announced the formation of a company holding named Cermati Fintech Group (CFG) which oversees a number of business verticals, namely Cermati.com (aggregator financial products), Pay close attention to Protect (insurtech)and indodan (fintech lending). This coincides with their most recent funding round in a series C round.

Insurtech Cermati Protect has now collaborated with more than 30 insurance company partners. The products are quite diverse, ranging from health insurance, vehicles and also micro insurance products distributed through players E-commerce such as Shopee, Bukalapak, Blibli, and Tiket.com.

"By utilizing digital technology, we will continue to innovate to provide services that provide a sense of security, comfort and convenience, especially for drivers in Jakarta," concluded Carlo.