Alexander Grenz: The future of Allianz in Indonesia’s life insurance industry – Companies

ounded in 1890 in Munich, Germany, Allianz is one of the world’s leading integrated financial service provider. In Indonesia, its presence began in 1981 with a representative office, followed by the establishment of Allianz Utama Indonesia in 1989 for general insurance and Allianz Life Indonesia in 1996 for life and health insurance. In 2023, Allianz further expanded with the launch of Allianz Life Syariah, which is dedicated to sharia-based life and health protection.

In 2023, Alexander Grenz assumed role of Country Manager and President Director of Allianz Life Indonesia, and The Jakarta Post had an opportunity to sit down with him in January 2024 to discuss the current situation of Indonesia’s life insurance industry and what the insurer planned to further contribute.

Originally from Germany, Grenz has accumulated over 20 years of experience across the globe through his career in Allianz. For the past decade he has been working in Southeast Asia, and today he is overseeing Allianz in Indonesia.

We started by asking about his experience so far in Indonesia.

“I’m still very new to this country, but I realize that there is a very strong sense of community where people always try to lend a helping hand to accomplish things.” Grenz answered

Then we inquired on his leadership style at Allianz, to which Grenz emphasized his strong belief in collaboration and dislike towards thick layers of bureaucratic hierarchy.

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“Internally, I think we can call it collaborative leadership, because I believe that Allianz has to empower its people. We need

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Saudi Arabia Implements Mandatory Insurance for Workers in Insurance Sector

Saudi Arabia Implements Mandatory Insurance for Workers in Insurance Sector

Saudi Arabia Implements Mandatory Insurance for Workers in Insurance Sector

Saudi Arabia has introduced mandatory insurance for new domestic worker contracts as part of labor market regulations. This insurance covers the initial two years and becomes optional for the employer afterward. It ensures compensation for both the domestic worker and employer in specific situations like absence, escape, death, or disease-related incapacitation.

Administered through a government platform called Musaned, the initiative aims to protect the rights of domestic workers, providing compensation for accidents resulting in infirmity and unpaid wages due to the employer’s death or incapacity. Musaned also serves as a platform for information on rights, duties, and services related to domestic worker employment.

In October, new rules set a minimum age of 21 for domestic workers in Saudi Arabia. Contracts follow mandatory rules set by the ministry, emphasizing the Gregorian calendar for dates. The regulations also prioritize dues to workers or heirs as first-degree debts.

Contracts should have a fixed duration, renewable for a year if unspecified, with a maximum of 10 working hours daily and a weekly paid 24-hour rest. Employers are prohibited from withholding passports or personal belongings.

Domestic workers in Saudi Arabia cover various roles, and Musaned is emphasized as the official recruitment platform by the Ministry of Human Resources. These measures, including insurance, contractual clarity, and a designated platform, demonstrate Saudi Arabia’s commitment to improving conditions for domestic workers and providing clear guidelines for employers. These efforts contribute to a more structured and regulated domestic labor market in the country.

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Saudi Arabia and Bangladesh collaborate to establish Arabic language institute in Dhaka
Saudi Arabia and Bangladesh collaborate to establish Arabic language institute in Dhaka

The institute aims to align its curriculum with the Kingdom’s teaching standards….

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2024 Farmers Insurance Open: How much does it cost to be a member at Pebble Beach?

Pebble Beach Golf Links is a public golf course located in the scenic town of Pebble Beach, California, on the United States’ west coast. According to the Travel and Leisure blog, this golf course is considered one of the most beautiful courses in the world. The course runs along the rugged coastline of the Pacific Ocean, offering golfers an unparalleled view of the stunning Carmel Bay. The course is located on the south side of the Monterey Peninsula, providing golfers with a unique experience.

In 2001, Pebble Beach Golf Links became the first public golf course to be selected as the No. 1 Golf Course in America by Golf Digest, securing its status as one of the world’s premier golfing destinations. However, the green fees for a round of golf at Pebble Beach Golf Links are among the highest in the world, at $525 per round (plus a $40 cart fee or a $92.50 caddie fee for non-resort guests) in 2023. Despite the high cost, Pebble Beach Golf Links has become a mecca for golfers worldwide.

Pebble Beach Golf Links is one of four courses located within the coastal community of Pebble Beach, California. All four courses belong to the Pebble Beach Company, which also operates three hotels and a spa at the resort. The other courses include The Links at Spanish Bay, Spyglass Hill Golf Course, and Del Monte Golf Course. The resort offers golfers a unique golfing experience with world-class courses, luxurious accommodations, and stunning views of the Pacific Ocean.

Pebble Beach Golf membership

In a bid to offer golf enthusiasts an unparalleled experience, Pebble Beach Resorts introduces its revamped Pebble Beach Golf Academy & Practice Facility Memberships. Priced at $2,500 for a one-year membership, with an additional option of $1,500 per person for spouses and/or

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Katie Price facing court and ‘unlimited fine’ after being accused of driving without licence and insurance

KATIE Price is set to face trial for driving without a valid licence and insurance.

The glamour model, 45, is accused of getting behind the wheel of a Range Rover and driving it “otherwise than in accordance with a licence”.

Katie Price is set to <a href=face trial next month” height=”960″ width=”834″ class=”lazyload” src=”https://www.thesun.co.uk/wp-content/uploads/2024/02/469f61d4-f750-4572-8180-24d476527180.jpg” data-credit=”Getty” data-sizes=”(max-width: 375px) 335px, (max-width: 520px) 480px, 620px” data-img=”https://www.thesun.co.uk/wp-content/uploads/2024/02/469f61d4-f750-4572-8180-24d476527180.jpg?strip=all&w=834″ srcset=”https://www.thesun.co.uk/wp-content/uploads/2024/02/469f61d4-f750-4572-8180-24d476527180.jpg?w=335 335w, https://www.thesun.co.uk/wp-content/uploads/2024/02/469f61d4-f750-4572-8180-24d476527180.jpg?w=480 480w, https://www.thesun.co.uk/wp-content/uploads/2024/02/469f61d4-f750-4572-8180-24d476527180.jpg?w=620 620w, https://www.thesun.co.uk/wp-content/uploads/2024/02/469f61d4-f750-4572-8180-24d476527180.jpg?w=670 670w, https://www.thesun.co.uk/wp-content/uploads/2024/02/469f61d4-f750-4572-8180-24d476527180.jpg?w=960 960w, https://www.thesun.co.uk/wp-content/uploads/2024/02/469f61d4-f750-4572-8180-24d476527180.jpg?w=1240 1240w, https://www.thesun.co.uk/wp-content/uploads/2024/02/469f61d4-f750-4572-8180-24d476527180.jpg?w=1005 1005w, https://www.thesun.co.uk/wp-content/uploads/2024/02/469f61d4-f750-4572-8180-24d476527180.jpg?w=1440 1440w, https://www.thesun.co.uk/wp-content/uploads/2024/02/469f61d4-f750-4572-8180-24d476527180.jpg?w=1860 1860w, https://www.thesun.co.uk/wp-content/uploads/2024/02/469f61d4-f750-4572-8180-24d476527180.jpg?w=1340 1340w, https://www.thesun.co.uk/wp-content/uploads/2024/02/469f61d4-f750-4572-8180-24d476527180.jpg?w=1920 1920w, https://www.thesun.co.uk/wp-content/uploads/2024/02/469f61d4-f750-4572-8180-24d476527180.jpg?w=2480 2480w” role=”img”/

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Katie Price is set to face trial next monthCredit: Getty
Katie has had 19 brushes with the law over her driving

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Katie has had 19 brushes with the law over her drivingCredit: Rex

A court charge sheet states she “did not hold a valid licence after a period of disqualification”.

She faces a second charge of using a motor vehicle on a road without third party insurance – which could see her slapped with an unlimited fine or another driving ban.

Court documents state the alleged offences happened on the A14 bypass in Kettering, Northamptonshire, on August 2 last year.

The vehicle she is said to have been driving is a bronze diesel Range Rover registered in 2010.

Mum-of-five Price was charged by summons and pleaded not guilty to both offences last Friday.

She will face trial at Northampton Magistrates’ Court on March 12.

Price has already had 19 brushes with the law over her driving.

Last month, we revealed she had been ordered to pay £398 in fines and costs after being convicted of speeding and driving a motor vehicle otherwise than in accordance with a licence.

She broke the 70mph limit on a dual carriageway in a black Infiniti FX50.

The offences happened on July 13 last year – three months after her December 2021 ban for flipping her BMW X5 after an

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Maid jailed for spending over S$15,000 that was wrongly transferred to her by insurance company

SINGAPORE: After receiving a sum of more than S$17,000 (US$12,700) in her bank account from an insurance company that was meant for someone else’s medical claims, a domestic helper spent about S$15,500 of the sudden windfall.

Micmic Cyndy, a 34-year-old Filipino national, was sentenced to six weeks’ jail on Thursday (Feb 1) for one count of dishonest misappropriation.

The court heard that Cyndy was a maid and held a POSB savings account.

Tokio Marine Life Insurance Singapore received a query from their customer on Jul 24 last year, saying he did not receive payment for his medical claims from the company.

The head of the compliance and risk unit at Tokio Marine Life Insurance Singapore investigated the matter and realised that the processed claims had been erroneously paid to Cyndy’s POSB account.

The total sum of S$17,151.69 had been paid to Cyndy over five dates between Jun 8, 2023 and Jul 27, 2023, with the first payment the highest at S$15,499.73.

Cyndy knew the money that had been transferred was not hers and that it had been transferred erroneously.

However, she withdrew a total of S$15,560.35 from her account and spent it on herself, including a trip to her hometown in the Philippines between Jun 29, 2023 and Jul 7, 2023.

In August 2023, DBS Bank sent letters to Cyndy, asking her to return the sum that had been deposited wrongly into her account.

Cyndy consented for the remaining unspent amount of S$1,591.34 to be returned to the rightful owner.

However, the remainder could not be recovered and Tokio Marine Life Insurance Singapore lodged a police report. Cyndy did not make restitution.

The prosecutor sought a jail term but left the duration to the court.

He said the amount dishonestly misappropriated by Cyndy was significant, amounting to

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2022 floods: Insurance agencies put on notice by ASIC

Insurance concerns for flooded Victorian towns

Australia’s corporate watchdog has issued a stern warning to the nation’s $86bn insurance industry over its “disappointing” failures to assist flood victims.

ASIC officials gave evidence to a federal probe looking at the impacts of insurers’ responses to one of the country’s most catastrophic natural disasters on Friday.

Public hearings, due to run over the next four weeks, have so far heard evidence of flood victims in NSW, Victoria and Queensland being subjected to aggressive and gaslighting behaviour from insurance agencies, including facing lengthy delays on claims and receiving hostile communication from third parties.

ASIC boss Alan Kirkland said systemic failures in the insurance industry had persisted in the wake of the 2022 floods.

“There are signs of deeper, longer-standing issues in the industry’s processes, practices and resourcing, which meant that it was poorly prepared for those events,” he told MPs.

“In a context where severe weather events are expected to be more frequent and more severe, the overall quality of the industry’s response to the 2022 floods and storms was disappointing.

More than 200,000 insurance claims were lodged as a result of the floods. Picture NCA NewsWire / Gaye Gerard
More than 200,000 insurance claims were lodged as a result of the floods. Picture NCA NewsWire / Gaye Gerard

“As a result, we’ve put the industry on notice.”

Tens of thousands were displaced and more than two dozen people died after unprecedented flooding inundated parts of Australia’s east coast in 2022.

As a result of the disaster, about 230,000 insurance claims were lodged by flood-affected people living in South East Queensland and the Northern Rivers region of NSW.

The Insurance Council of Australia estimates the total cost of claims lodged as a result of the major flooding events totalled nearly $7.4bn.

Mr Kirkland cited recent data collected from six of the country’s biggest insurance agencies that he said painted an “illuminating” picture of the industry’s shortfalls.

“In

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Travel news: New baggage tracking tool, plus cheapest insurance

Lost luggage is the bane of travelling and it only seems to have become worse since we returned to travel after the pandemic.

Well, Virgin Australia has announced it will be rolling out a tracking tool that could take the pain out of missing luggage. 

The system is an app-based logistic that informs passengers when their baggage has been checked in, loaded onto the aircraft, transferred to a connecting flight if required and at which baggage carousel it will be arriving.

Domestic and international coverage

Regular Virgin domestic travellers have been using the app on a portion of the airline’s domestic routes, but it will now be expanded to cover all Virgin domestic and international flights. 

“Australians find comfort in the ability to track food deliveries, postal deliveries, technology, even their heart rate, all via apps, and it made sense for travellers to be able to do the same thing when flying Virgin Australia,” said Paul Jones, chief customer and digital officer, Virgin Australia.

“By further enhancing our Australian-first baggage tracking technology to include all international services and additional notifications, we are giving guests the peace of mind to know where their baggage is at every step of the journey,” said Mr Jones.

If you want to track your luggage on Virgin, follow these steps:

  • download the Virgin Australia app. It’s free!
  • enable push notifications via app settings
  • once enabled, a series of push notifications will be sent to your phone throughout the journey, including when the bag is checked in, loaded onto the aircraft, transferred to an international partner airline, and available for collection at the final destination. The tool will also advise the guest at which carousel the baggage will be available for collection.

For more information, visit travel-info/baggage/baggage-tracking-faq/”here.

Best travel insurance

The latest

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JLR boss says insurers are ‘clearly not using data’ as prices for cars skyrocket

Whilst Adrian admitted that, as a company, Jaguar Land Rover needs to work on improving the security of their models, he highlighted that the situation is continuously getting better.

In particular, he stated that, out of the 45,200 examples produced since 2019, only 134 new-generation Land Rover Defenders have been reported stolen.

Nevertheless, the Range Rover Sport was still the fifth most stolen model of 2023, with 1,631 being taken by thieves.

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To fight the criminals, Jaguar Land Rover launched a new security system at the end of 2023, which helps to prevent thieves gaining entry by using a fake keyless fob.

Whilst the technology is new, the company has noted that the feature can be implemented on some older models, with some dealers already making contact with owners.

Motorists were also advised to download the ‘Land Rover Remote’ app to their smartphone and activate the ‘Guardian Mode’ feature to monitor any activity surrounding the car.

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Doctors fighting US opioid epidemic say insurance barrier impedes treatment | US healthcare

In the midst of the worst overdose epidemic in US history, addiction medicine specialists say a bureaucratic hurdle is adding to the difficulty of getting people in treatment: an insurance industry tactic called “prior authorization”.

Loathed by doctors of all stripes, prior authorization requires healthcare providers to seek permission from insurance companies before they prescribe a treatment. Doctors in addiction medicine said the requirement is both unnecessarily burdensome and could cost lives.

“We have patients who are having overdoses once a month because of the fentanyl being in the drug supply,” said Dr Alain Litwin, a clinical researcher and executive director of the Prisma Health Addiction Medicine Center in South Carolina. “This is the crisis of our time – overdose rates are rising every year”.

In 2021, the most recent year for which data is available, roughly three-quarters of the 107,000 people who died of an overdose had an opioid in their system, approximately 80,000 people.

An estimated 2.5 million Americans 18 and older are believed to suffer from opioid use disorder, the clinical name for an addiction to opioids, illicit or prescribed. People with opioid use disorder suffer “alarmingly high” rates of death and health conditions, research has found.

That risk of death can be halved with use of the gold-standard therapies: medication-assisted treatment with buprenorphine, methadone or naltrexone. However, four out of five Americans addicted to opioids are still not in treatment.

Prior authorization has targeted buprenorphine in particular. Insurance companies can set qualification criteria that require patients seeking treatment for opioid use disorder to submit to urine drug tests, require pill counts, set dosage limits, and mandate patient education or counseling. It also requires doctors to fill out lengthy forms and wait for approvals. All of which, doctors said, makes patients feel stigmatized and

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Do lifestyle habits affect health insurance premiums, here’s what you need to know

The increasing expenses associated with healthcare and health insurance pose significant worries for individuals globally. For many, the financial strain of healthcare can be daunting, potentially overwhelming them. Elevated costs may further restrict access to essential care, especially for those with lower incomes and families. Such limitations can worsen pre-existing health disparities, contributing to avoidable health issues. Additionally, the financial strain related to healthcare can adversely affect mental well-being, giving rise to anxiety, depression, and other mental health challenges.

Amidst the surge in healthcare expenses, individuals must assume responsibility for their well-being and adeptly navigate the intricacies of health insurance. Emphasizing a positive and proactive perspective involves comprehending the connection between lifestyle choices and health insurance premiums. This knowledge empowers individuals to make informed decisions, ultimately benefiting both their health and financial well-being.

While some health conditions may be beyond your control, certain self-cultivated lifestyle habits can negatively impact health insurance premiums. There is an intricate relationship between lifestyle habits and their impact on health insurance premiums.

  • Opting for a healthier lifestyle may result in reduced premiums. Sustaining a healthy weight, effectively managing chronic conditions, participating in routine preventive care, and steering clear of risky behaviours can position you as a lower risk for insurers, potentially resulting in decreased premiums.
  • Being aware of how certain lifestyle factors affect your premium can inform your decisions. Some insurance providers provide discounts for healthy habits, such as gym memberships or smoking cessation programs.
  • Promoting well-being extends beyond merely steering clear of high-risk activities. Giving priority to mental health, effectively managing stress, and ensuring sufficient sleep also contribute to overall health and may potentially reduce healthcare costs.

Lifestyle habits directly affecting health insurance premiums

Below are certain lifestyle habits that can impact your health insurance premiums and demand attention in the long term

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