Askrindo and BPD Bali Partner to Enhance Credit Access for Low-Income Segments

Strategic Collaboration for Financial Inclusion

PT Asuransi Kredit Indonesia (Askrindo) has entered into a significant partnership with PT Bank Pembangunan Daerah Bali (BPD Bali) to provide comprehensive credit insurance solutions for low-income housing and microfinance sectors. This collaboration is implemented through Askrindo's specialized insurance products: Kredit Program Perumahan (KPP) for housing loans and Asuransi Mikro (Asmik) for microfinance initiatives.

Key Features of the Partnership

The partnership between Askrindo and BPD Bali was formalized through a Memorandum of Understanding (MoU) that focuses on delivering simplified, affordable, and quick insurance services to BPD Bali's customers. Budhi Novianto, Director of Business at Askrindo, emphasized that the company is committed to supporting BPD Bali in protecting its debtors through innovative insurance solutions. The insurance products are designed based on the SMES principle - Sederhana (Simple), Mudah (Easy), Ekonomis (Economical), and Segera (Swift).

Supporting Government Initiatives

This strategic collaboration aligns with the Indonesian government's initiatives to enhance financial inclusion and support low-income households. By providing credit insurance, Askrindo and BPD Bali are working together to mitigate credit risks associated with lending to underserved communities, thereby promoting more robust financial access and stability.

Impact on Financial Inclusion

The partnership is expected to have a positive impact on financial inclusion in Indonesia, particularly in Bali and surrounding regions. By offering credit insurance products that are both accessible and affordable, Askrindo and BPD Bali are addressing a critical need in the market. This move not only enhances the creditworthiness of low-income individuals but also encourages financial institutions to extend more loans to this segment, knowing that the risks are mitigated.