With the launch of TAMDERA, Allianz Insurance had hoped to contribute to alleviating poverty in Indonesia by providing a scheme through which people are encouraged to save funds for their children’s education while simultaneously protecting them from the high cost of medical treatments.
Policyholders purchasing TAMDERA for Rp. 10,000/week (1.2 USD) can save up to 2.5 million rupiahs, while policyholders paying a premium of Rp. 100,000 (10 USD) can save up to 25 million rupiahs. With this insurance, clients of TAMDERA have life insurance protection, including guaranteed protection against cancer, stroke, heart attack, kidney failure and serious burns. If no claims are made within the five year policy term, the premiums paid are returned in full to the client, who may put the saved funds towards the education of their children.
The program’s review and monitoring system is as innovative as its implementation. To monitor the efficacy of the program, a third party group monitors the social impact of the insurance program, collecting data around the country using smart phones.