The Impact of Jiwasraya Policy Restructuring on Bank QNB Indonesia Customers as the Policy Owners
04 April 2024 – In regards to the issuance of the Press Release of PT Asuransi Jiwasraya (Persero), or hereinafter referred to as "Jiwasraya", No 00031/S/SKP/SKP1/1221 dated 14 December 2021 regarding Permits Obtained, Jiwasraya Began to Transfer Policies to IFG Life, a process of restructuring Jiwasraya policies owned by PT Bank QNB Indonesia Tbk (“Bank QNB Indonesia”) customers has been carried out. Due to the impact of the restructuring, the partnership between Bank QNB Indonesia and Jiwasraya has ended.
During the provision of restructuring options to the customer as the policy owner, Bank QNB Indonesia only acts as a connector of information between Jiwasraya and the customer. Bank QNB Indonesia does not have partnership with PT Asuransi Jiwa IFG (IFG Life), therefore Bank QNB Indonesia does not have data or access to customer policies that are in the process of restructuring or have been restructured to IFG Life policies.
In line with the information above, as of 1 May 2024 Bank QNB Indonesia will revoke all outstanding values of Jiwasraya owned by Bank QNB Indonesia customers in the Consolidate Statement as Bank QNB Indonesia no longer has access to the customer's updated cash value.
Customer can contact Bank QNB Indonesia’s Relationship Manager and Bank QNB Indonesia Contact Center to find out the latest information on the policy status and IFG Life premium payments and the Bank will assist to forward the inquiry to IFG Life, or customer can contact directly to IFG Life Customer Care (021) 1500176 or customer_care@ifg-life.id.
