Insurance

PT Rajawali Pialang Asuransi

Company History The Company commenced operations as an insurance broker and advisor of repute in the Insurance Broking Industry in Singapore. The company was formulated in 1975 in Singapore as an independent broker and manages clients in Macau, China, Hong Kong, and Malaysia. From having its Singapore office as the base the company has expanded into the different countries. We have built up a reputation as one of the most respectable insurance brokers in Indonesia specializing in the Energy, Health, and Construction, Property, Vehicle and Marine insurance. The company in fulfillment of its mission to pursuit of service excellence builds partnership with reputable overseas companies. International relationship with Newman Martin and Buchan Ltd for the London Market has added strength to our technical capabilities in placing complex and sophisticated off-shore risks.

Our Milestone Domestic expansion

The company was incorporated in Singapore

1975

198 0

First business exploration in Indonesia

Business establishment in Asia Pacific

Business expanded to other Asian Region.

198 5

199 0

Manage Multi National Companies Regional insurance requirements in China.

199 5

Business expanded to India & Russia (Shakalin)

200 0

Establishment of PT. Rajawali Pialang Asuransi in Indonesia

200 5

Existence in other Asian Regional Offices

201 2

201 6

Formulation of strategic management in Indonesia & Singapore. Structuring the organization.

Our Role as Insurance Brokers

Insure r

Client Entity buying the insurance policy

1. Insurance solutions 2. General consultancy services or solutions 3. Claims handling 4. Market Information

Company selling insurance

Provide professional advice to businesses and individuals, playing a key role in the identification, measurement, management, control and transfer of risk. They negotiate appropriate insurance protection tailored to individual needs.

We Provide Insurance Planning • Identification of all major internal & external pure risk including natural risks and analysis of the impact.  Provide rationalization of basic rate of premium and widening of covers.  Applicability/eligibility of discounts in premium.  Application of suitable clauses, warranties and conditions

• Selection of insurance coverage on the basis of risk analysis. • Provide guidelines for fixation of sum insured. • Evaluation of business interruption exposure due to identified risks. • Providing guidelines on document requirements, procedure for claims wider various policies, evaluation of insurers

End to End Process of Insurance Brokers Based on the customer needs

Gathering Information

ID Insurer who are likely to accept the risk

Preparation of Placing Slip

Review quotation and policies best suited to customer

Send Slip to ID Insurers

Review Quotation

-Review policies and contract -Provide advise and guidance -Manage the documents of the customer - Manage and handle the claims - Provide market information

Advise and guide the customers

Present to customer

Allow to customer to bind the cover and be insured

Binding

Who We Are? Vision RPA is dedicated to providing insurance products and business services that provide integrity, credibility, high quality service and protection, and value pricing. We wish to establish a successful partnership with our clients that respect their interests and goals.

Mission Base on our Integrity and Credibility we will provide an expert and extraordinary service acting for our clients in the provision of insurance advice, placement, risk management, claims settlement and related financial services. •

by understanding the business

•

identifying all the risks

•

Acting as risk managers

•

find the best available cover through a range of insurers

•

Settling claims expeditiously

•

assisting the client in understanding options

•

and representing the client in any negotiations with the insurer and other parties.

Historical Reflections Introduction of Insurance Great Britain 19th Century Industrial Revolution the Manchester Steam Users' Association. Members were entitled to use the services of boiler inspectors who were employed by the association. The Steam Boiler Assurance Company, established in 1858, pioneered this class of insurance, followed by the Midland Steam Boiler Inspection and Assurance Company in 1862.

Reference : Munich-Re

Risk and Insurance Risk is the chance of something happening • The possibility of an adverse outcome from a particular event

Insurance is based on the principle of transferring risk While insurance essentially equates to risk transfer, this does not mean that all risk are able to be insured Reference : Munich-Re

Insurable Risk The lost must be fortuitous There must be adequate numbers The chance of lost must be assessable Reference : Munich-Re

How does underwriter evaluate hazard?

Moral/Mora le

Physical Legal

Reference : Munich-Re

Fundamental Principle of Insurance Essential element is to have a valid contract Utmost good faith. Insured must disclosed all relevant facts to the insurer. Underwriter needs to indemnify the insured against losses the extent of amount insured. Insurable interest must exist both at the time of effecting the insurance as well as at the time of loss. Subrogation the insurer after paying the compensation to the insured, become entitled to claim all the right of the insured against Third parties responsible for the loss. Terms of policy such as cancellation, warranties, procedure for claims etc. Reference : Munich-Re