Ralali and Futuready Target the B2B Insurance Market for MSMEs

Ralali officially announced its partnership with Futuready this Tuesday. Through this collaboration, Ralali and Futuready set a target of 1 million micro, small and medium enterprises (MSMEs), as B2B insurance customers, by the end of next year.

"That's the final target. The initial target is 10.000-20.000 of the existing MSMEs can feel the insurance, but the final target is 1 million," said SVP of Financial Business Ralali, Alvin Aulia Akbar.

The provision of insurance products for MSMEs is Ralali's focus in this collaboration. First of all, this cannot be separated from the number of MSME entrepreneurs who range from 60 million more. A small part or to be precise 8 percent of that number have not utilized digital services.

Alvin continued, in this product, any MSME can join by buying insurance products starting at a price of IDR 5.000 per month. However, of the many existing MSMEs, they admit that they are still focusing on MSMEs such as stalls, restaurants, cafes, to electronic stores.

"These two segments have the most potential in Indonesia, there are at least 5 million for these two segments," he added.

In addition to these types of businesses, COO Ralali Alexander Lukman said his party also welcomes MSME actors who operate rely on carts. With this insurance from Futuready, Alex believes that MSMEs can be protected from unexpected risks such as riots, floods, and power outages.

"Maybe not all of them, but at least about 70-80 percent can becover, said Alex.

There are a number of factors that make Ralali and Futuready believe their insurance products can be glimpsed by MSME actors. In addition to affordable prices, they rely on Ralali's Big Agent.

Big Agent which is a freelance agent with a commission system that carries out the tasks of promotion, acquisition, and market survey. As many as 300.000 agents, which usually consist of students, employees, to online motorcycle taxi drivers, throughout Indonesia will provide understanding to MSME owners to protect their businesses, the majority of whom are business owners. single-income business.

"Maybe there are shop houses that can be insured. But this is a cart and I don't think this has existed before even though we know that there are a lot of MSME carts in Indonesia. So for accessibility we rely on Big Agents," admitted Head of Corporate Business Futuready, Gretel Griselda.

There are at least three types of insurance offered by Ralali and Futuready. They are Fire Insurance aimed at owners of movable business properties such as carts, Education Insurance to protect the education of business owners' children, and Business Protection Insurance which can help business owners keep income even when the business is not operating.

Next Year's Plan

This new insurance product strengthens Ralali's efforts to build an MSME business development ecosystem on their platform consisting of payments, loans, investments, and insurance.

Alex did not rule out the possibility that next year there will be an expansion of these four things by providing B2B logistics infrastructure on their platform. This makes it possible for them to collaborate with a number of third-party logistics service providers as well as business cargo delivery.

In addition, Ralali also opens the possibility of opening warehouse services on their platform. You do this by collaborating with startup partners who are already playing in the sector

"Currently we have expanded in 35 cities, by the end of this year it will be in 55 cities. There we will build a fulfillment center. Again, this is industry 4.0, admit it have a warehouse but not ours. We are collaborating with partners in the city so that we can serve faster and cheaper," concluded Alex.