Press releases

April 24, 2018

Sun Life Financial Indonesia Collaborates with TCASH to Market Microinsurance

Telco Insurance's strategic partnership will reach the wider community through financial technology services of electronic money

JAKARTA – April 24, 2018 – PT Sun Life Financial Indonesia (“Sun Life”)—a leading international financial services company today launched telco insurance services in collaboration with TCASH as Telkomsel's electronic money to answer clients' needs. Through this strategic partnership, Sun Life and TCASH are offering insurance protection called Proteksi Mikro Aktif (Active Micro Protection), Proteksi Mikro Siaga (Micro Standby Protection), and Proteksi Mikro DBD (Micro Dengue Protection).

Elin Waty, President Director of Sun Life said, “Partnership Sun Life with TCASH, electronic money from Telkomsel becomes a solution to reach the broader community in a wider, rapidly, inexpensively, and easily. With the sharp increase in digital-based financial transactions,1 Sun Life understands that people in Indonesia are changing how they transact. We wanted to meet their changing needs by offering this new digital microinsurance options in Indonesia. This move is part of Sun Life Financial Indonesia's commitment to innovation to help make it easier for people to connect with us through new partnership distribution channels and digitalization efforts that offer access to protection.”

This partnership will utilize data analysis and processing methods (data analytics) to determine the protection that best suits the needs of the client. All TCASH subscribers who are Telkomsel users and aged 18 to 60 years can obtain this insurance service through convenient stages.

TCASH clients can access the User Menu Browser (UMB), code via phone *800*7534*1# for Proteksi Mikro Aktif product; *800*7534*2# for Proteksi Mikro Siaga product; and *800*7534*3# for Proteksi Mikro DBD product. To ensure the security of client data, clients only pay a one-time premium by using TCASH PIN as a confirmation of purchase. Furthermore, the insurance policy will be sent digitally. It is very easy for clients to use as it can be accessed from any type of mobile phone. This service also opens access for more people to participate in securing quality insurance safely.

Proteksi Mikro Aktif insurance solution is aimed at protecting clients who are in an accident and hospitalized at least 24 hours. This protection allows clients to receive compensation of IDR 625,000 to IDR 2,500,000. Proteksi Mikro Siaga provides 100% of the sum insured if the client dies by accident. The amount of coverage that can be received by clients amounting to IDR 25,000,000 to IDR 50,000,000. Meanwhile, Proteksi Mikro DBD insurance provides cash benefits if the client is hospitalized for at least 24 hours in hospital due to dengue fever. Proteksi Mikro DBD offers sum insured to clients of IDR 1,000,000 to IDR 4,000,000. All three solutions will protect clients up to 90 days from the date of registration.

Sun Life Financial has carried out the ease of providing insurance access through telco insurance in other markets such as Malaysia and the Philippines where the company has developed this distribution channel. In Indonesia, Sun Life began to offer these solutions in March of this year. This effort is also a form of support for OJK directives that encourages stakeholders to continue to work together to increase penetration and financial inclusion in Indonesia.

“Solutions presented by Sun Life in collaboration with TCASH are expected to provide education and support the understanding of insurance as a necessity. We hope that the easy, quick, and inexpensive access can encourage people to consider insurance as a self-protection solution that is available,” Elin concluded.

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The Data of Indonesia Financial Literacy
The low index of financial literacy remains the biggest challenge for the life insurance industry. National Literacy and Financial Inclusion Survey (SNLIK) conducted by OJK in 2016 shows that Indonesian people who have ‘good’ literacy level to the insurance industry is relatively low. The index of insurance literacy only reached 15.76%, down from the survey in 2013 of 17.84%. Meanwhile, the utility rate reached 12.08%, did not change much from the 2013 survey at 11.81%. That is, from 100 Indonesian people, only 15 to 16 people recognize the insurance financial services and only 12 people already use insurance services.

About Sun Life Financial Indonesia
Sun Life Financial Indonesia is a wholly owned subsidiary of Sun Life Financial. We offer a wide range of protection and management of varied products, from life insurance, educational insurance, health insurance, and retirement plans. Sun Life collaborates with leading financial institutions, both nationally and internationally, to serve multi-distribution channels strategies and provide wider access to our insurance solutions.

Sun Life Financial Indonesia has won several prestigious awards in 2016 including:

1. Received "Excellent" for Unit Link from Infobank Magazine in "Infobank Unit Linked Awards 2016”. This award was presented to Sun Life Financial Indonesia for the following unit link products:

  •  Salam Balanced Fund untuk kategori Campuran unit link lima tahun
  •  Salam Balanced Fund untuk kategori Campuran unit link tiga tahun
  •  Brilliance Xtra Progressive untuk kategori Campuran unit link tiga tahun
  •  Brilliance Xtra Progressive untuk kategori Campuran unit link satu tahun
  • Maxi Fund 1 untuk kategori Saham unit link satu tahun ”Excellent Service

2. ”Excellent Service Experience Award 2016” from Carre CCSL (Center for Client Solutions & Loyalty)
3. Received “Excellent” for the Call Centers award for Health and Life Insurance category from CARRE Center for Client Satisfaction & Loyalty Company in “Contact Centre Service Excellent 2016”.
4. “Bronze Award” in the prestigious the 8th Annual Global CSR Awards 2016 for the category of “Excellence in Provision of Literacy & Education Award for Companies with Market Capitalization Less than USD 1 Billion”.
5. Received “Excellent” predicate for the category of life insurance companies with premiums of more than IDR 1 trillion from Infobank Magazine.
6. Received PR of the Year 2016 for the category of Social PR Program and Marketing Program from Mix Marketing Magazine.
7. Received CSR award for health and education category from Sindo newspaper.
8. Received “Best Takaful Company Indonesia 2017” predicate from Global Business Outlook Award.
9. Received “Best Family Takaful Provider Indonesia 2017” predicate from Global Banking and Finance Review Awards.
10. Received HR Asia Best Companies to Work for in Asia 2017. The jury of HR Asia Best Companies to Work for in Asia Awards comprised of industry experts, academics, journalists, and government representatives.
11. Received Excellent Service Experience Award 2017 for Insurance Life and Health category from Service Excellence Magazine.
12. Received Five Star Predicate on the performance of the 2012-2016 Mixed Type Link Units for the Salam Balanced Fund in the Unit Link 2017 Awards from Infobank Magazine.

About Sun Life Financial
Sun Life Financial Inc. is a leading international financial services organization providing insurance, wealth and asset management solutions to individual and corporate Clients. Sun Life Financial has operations in a number of markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of December 31, 2017, Sun Life Financial had total assets under management of $975 billion. For more information please visit

Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.

About TCASH (
TCASH is a mobile financial services product from Telkomsel, the largest mobile operator in Indonesia with more than 196 million subscribers across Indonesia. Re-introduced since 2015, TCASH has the vision to be the largest and most trusted electronic money for all Indonesians without exception. TCASH consistently innovates, offering a variety of mobile financial services, including introducing TCASH Sticker Tap with near-field communication (NFC) technology and TCASH Wallet with QR Code feature to simplify the inclusion of digital financial technology in everyday life.

For more information, please contact:

Shierly Ge
Chief Marketing Officer
Sun Life Financial Indonesia
Tel: +6221-5289-0000
Faks: +6221 5289-0019

Dinda Sarasannisa F.
Head of Corporate Communication TCASH
Mobile: +628111 603 465