The Indonesian Life Insurance Association (AAJI) and the Financial Services Authority (OJK) are pushing to reach a target of 10m insurance agents in the country in the next few years, according to AAJI chairman Hendrisman Rahim.
“This is not easy, because today there are only 600,000 certified agents, let alone agents with good competence,” he told the local media.
In this regard, he appreciates the community of life insurance agents who are members of Indonesia's Million Dollar Round Table (MDRT) which has 2,048 members.
He said that Indonesian MDRT members are needed so that Indonesian insurance agents would be recognised globally.
Agents play a significant role in life insurance. Data from the AAJI show that total life premium income in 2017 increased by 17.2% to IDR195.72trn ($13.4bn) compared to 2016. The agency distribution channel contributed 37% of this premium income.