Evidence suggests that insurance uptake in Indonesia is about to explode. Hendrisman Rahim explains why and reveals the product that aims to make life insurance accessible to every corner of Indonesian society.
For decades insurance companies have struggled to be taken seriously. Even today, in countries where insurance uptake is saturated, insurance firms use self-deprecating humour to promote their products, giving a nod to the general perception that the industry is dull or even irritating. These attitudes trouble me because they are at least part of the reason why the Indonesian people hold fewer insurance policies than virtually any other country in South-East Asia. This lamentable situation is no joke and is a subject that needs to be considered with the upmost gravity.
I’m sure you don’t need me to tell you that insurance is a way to transfer risk. But for much of Indonesian society, particularly those on low income, this understanding of the financial security that insurance provides is unknown; the irony is that it is the people with limited means that most stand to benefit.
This is what drives me. PT Asuransi Jiwasraya (Persero) has the resources, infrastructure and product range to effect real change, and create a greater security for all Indonesian people, regardless of their financial worth. There are any number of reasons why I have confidence in our ability to meet our ambitious targets, but chief among them are…