This collaboration further proves FWD Insurance's commitment to presenting the best insurance product and service innovations through digital technology innovations that are in line with today's people's lifestyles. Thus, insurance becomes more accessible. Main Director of FWD Insurance Anantharaman Sridharan explained, this collaboration is also proof of FWD Insurance's commitment in reaching out and helping more Indonesian people to protect themselves from various health or life risks that may occur, especially when making loans online. "That way, they can stay focused on enjoying and celebrating life," said Anantharaman in a press release received by Kompas.com, Wednesday (20/4/2022). On the same occasion, Director of Smart Credit Wisely Wijaya said that the presence of the Smart Credit Protection service added to his trust as a financial technology (fintech) lending platform for the risk of bad credit. Primarily, caused by risks to the customer's health and/or life during the loan period. Thanks to this service, continued Wisely, customers and their families can be assisted when there is a risk of death, permanent disability, or hospitalization experienced by customers. "Together with FWD Insurance, we want to provide additional options as well as comprehensive services that are useful, easy and according to the needs of our customers," added Wisely. To note, Smart Credit Protection provides two protection benefits at the same time to customers during the loan period with a maximum protection of 12 months. First, death or permanent disability benefits. Through this benefit, FWD Insurance will pay the remaining loan if the customer dies or experiences permanent disability during the insurance period and the loan period. Second, the benefits of hospitalization due to accidents. This benefit applies if the customer experiences an accident that requires hospitalization for at least 3 consecutive days. FWD Insurance will pay the current monthly installments on the loan facility. For information, based on fintech lending data summarized by the OJK in September 2021, the accumulated distribution of funds through the technology-based financial industry reached IDR 262.93 trillion. This figure increased by 104.30 percent annually with a payment success rate (TKB) of 90 reaching 98.10 percent. Smart Credit itself has been operating since 2017. The application has been downloaded more than 10 million times with a consumer satisfaction rating marked by a 4.4 star rating on Google Play. To date, Kredit Pintar has disbursed loans of more than IDR 23.8 trillion. About half of the funds were borrowed for small business capital or educational purposes. Collaboration between FWD Insurance and Kredit Pintar can provide greater security and comfort to customers.
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