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P.T. USAHA TEPAT GUNA was approved by the Indonesian Foreign
Investment Board (BKPM) as a PMA company in July 1998 number: 455/1/PMA/1998.
The company was established by Notarial Deed number: 053/Sket/IX/Not/98
in August 1998 with Notary Sp. Henny Singgih SH of DKI, Jakarta and such
further amendments to its Articles of Association as approved and executed
by its Board of Management. The Minister of Justice approval was issued
under # C.10718.HT.01.01.Th99, dated 9 June 1999. Published in the Gazette
of Indonesia on March 10th, 2000.
The company’s legal address is: P.T. Usaha Tepat Guna,
Jakarta Stock Exchange Tower II, suite # 1701, Jl. Jend. Sudirman,, Kav.
52-53, Jakarta, Indonesia.
P.T. USAHA TEPAT GUNA is fully owned by Michael & Loretta
Sinjorgo, residents of Jakarta Selatan. Its corporate bank accounts are
maintained at Standard Chartered Bank, Jl. Jend. Sudirman, Jakarta.
The company is professionally associated with several international
organizations: the Risk & Insurance Managers Society (RIMS) www.rims.org
and Global Association of Risk Professionals (GARP) www.garp.com of the
USA amongst others.
The objective of the company is to provide the management of its corporate
clients with the professional/technical information and tools to make
informed decisions. This improves operational procedures and efficiency
as well as eliminates unnecessary costs.
One of our underlying principles is that we work from the inside-in with
our clients. We don’t attempt to install pre-designed concepts to
which the clients’ operation has to fit. Rather we assist the client
in adapting and integrating the concept into their own organization.
OUR MARKET
P.T. USAHA TEPAT GUNA operates in the risk & insurance management
field of corporate management. We practice a comprehensive approach. It
integrates itself with Corporate Strategy and Corporate Governance.
Our market research indicates that the fragmented approach in risk and
insurance matters practiced by the typical Indonesian company causes the
following problems:
- Low Risk Management impact.
- High treatment costs.
- Low costs savings.
- Poor owners’ protection.
THE INTERNATIONAL SOLUTION
The combination of these four problems has led corporations in North America,
Europe and other Asian countries to find solutions by bringing the risk
and insurance management in house. These departments are staffed with
trained professionals either as full time employees or part time consultants.
This integrated approach to the solution is based on their finding that
insurance brokers could not provide them with adequate solutions. Insurance
brokers have an inherit conflict of interest. They have insurance company
commission driven compensation.
THE INDONESIAN SOLUTION
The Indonesian risk and insurance management situation is not much different
from that found elsewhere in the world. Hence P.T. USAHA TEPAT GUNA was
set up in the footsteps of similar concepts in the financial world. The
Indonesian risk and insurance industry is still very young and foreign
dominated. This makes it very difficult to attract local knowledgeable
professionals. Training of our clients personnel is therefore very important
to us.
P.T. USAHA TEPAT GUNA is not linked, controlled or partially owned by
any insurance company or financial institution. We will not assume corporate
debt with conditions attached requiring preferential treatment for certain
insurance/financial companies.
P.T. USAHA TEPAT GUNA’s employees and owners will not accept any
form of third party compensation outside the agreed upon fee of their
clients.
We want the company to remain independent and serve the client’s
interest only with unbiased and independent advice.
We work with the client and its people to create the proper atmosphere
for operating Risk and Insurance Management. We do not try to fit the
clients’ operation into a box of pre-conceived plans and systems.
We work with the client to install the proper risk and insurance management
principles into its own operation. Risk Management is not a corporate
function, but rather a culture in which everyone involved on the organization
participates. Every business decision, big or small, has to integrate
Risk Management.
Integrated means: risk is considered in its totality. As well as the fact
that risk is both positive and negative in its impact on the clients operations.
With no other master to serve than our client, we answer one fundamental
question: What is best for our client? This unbiased approach guides us
when we make treatment recommendations to our clients regarding risk and
insurance management.
The compensation for our services is exclusively fee based.
We are, to the best of our knowledge, the only company operating under
these principles in Indonesia. As such we provide a unique, international
experience based service to the Indonesian business community.
- First we discuss with our prospective client their company
and business situation. Next we conduct a preliminary survey of the
company. We conduct 2 day Risk Management seminars with the clients’
personnel in order to: 1. Lay the foundation of a risk culture 2. Allow
for “buying in” by everyone involved in the company. Based
on this information we provide a Risk Assessment Report (RAP), free
of charge;
- This RAP contains the services we will provide, the
approximate implementation time frame and fee structure;
- This RAP functions as a basis for negotiating the details
of our contract;
- Our contract will specify: the scope of work, the terms
of reference, the compensation and relative obligations of both parties.
Generally speaking our work will involve four distinct
stages:
- Risk assessment: collect all the necessary data and information,
within the scope of our work, in order to assess in detail the risks
the company faces;
- Risk evaluation and analysis: measure and analyze these
risks as to their importance, severity, impact, interaction.
- Recommend treatment solutions: because we are a totally
independent company our recommendation are unbiased as well and can
involve finance, legal, insurance, human resources, strategic, engineering,
accounting elements, either severally or independent;
- Insurance evaluation: evaluate the insurance portfolio
currently in place for its effectiveness in providing the needed and
agreed upon security for the company in a cost effective manner;
- Risk transfer: Select appropriate insurance companies,
negotiate contracts conditions and assist management in the installation
of the agreed upon insurance contracts.
- Assist the client with the formation and installation
of the proper Risk Management structures as well as the monitoring and
evaluation procedures.
Our objectives are: be professional, simple, totally
client oriented, cost effective and as such, service our client to the best
of our abilities.
Within the large field of consulting to corporate management
P.T. USAHA TEPAT GUNA specializes in risk and insurance management.
In this field however, we cover all areas of risk and insurance such as:
all risks, buildings, equipment, liabilities, IT, transportation (land,
air or sea), employee health, pension plans, business interruption and
all other particular risk and insurance areas present in a client’s
operation. This is based on our comprehensive approach to Risk Management.
Insurance claim management is part of our endeavors.
Our Risk Management and Needs Analysis approach allows us
to look at the entire operation of a client’s business and bring
together in one department all aspects related to risk and insurance management.
This integrated approach typically avoids the overlapping or serious gaps
of coverage which, one very often finds in the fragmented approach.
In our view risk and insurance should be centralized and integrated in
its design and implementation in order to obtain the following important
benefits:
- Totality: Risks are not limited to one department and
one particular risk typically involves many different departments. Covering
the totality of the risk assures complete solutions that work.
- Design treatment options drawing on a large variety
of options available to the client. Our independence means that we have
an open mind as to what works best for the client.
- We work for the client and with the client, bringing
in knowledge, experience and support where needed. The Risk Management
process belongs to the client and our role is to assist, not to impose.
- Professional knowledge: Insurance contracts are highly
sophisticated financial instruments with a substantial cost (premium)
and large amounts of monies in case of a claim, which in some cases
could well determine the survival of the business itself. The insurance
company has all the knowledge and expertise needed to protect its own
interests in negotiating a contract. The client should have at least
one professional on its side to create a level playing field. The fragmented
approach does not allow for this professional. The insurance broker
has an inherit conflict of interest between the insurance company and
the client;
- Leverage: By negotiating large contracts one is in a
much stronger position to negotiate favorable terms and conditions with
the insurance company;
- Cost savings on premiums: The same as with leverage,
bulk buying always lowers cost. Insurance is not any different;
- Improved service: As everywhere else in the business
world, large accounts get lots of attention because of their adverse
financial consequences in losing them;
- Streamlined administration: One contract covering a
hundred situations for a determined period of time requires less work
than a hundred contracts covering one situation. Streamlining improves
cash flow and avoids “leakage”.
We provide completely independent and unbiased advice
in risk and insurance management matters with the purpose of improving
security, reducing risks and minimizing costs for our clients.
service@insurance-shop-intl.com
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