The Indonesian insurance regulator has taken several initiatives to boost public trust and confidence in the country's insurance ecosystem.
The Otoritas Jasa Keuangan (OJK), which is the Indonesian Financial Services Authority has launched the Indonesian insurance agent database and the Indonesian insurance policy database to bring about digital transformation and to strengthen the country’s insurance ecosystem.
The Indonesian insurance agent database will serve as a single authoritative source of data on the legal status and identities of officially registered insurance agents, which has been integrated with the OJK’s digital licensing platform, the integrated licensing and registration system, and uses QR codes for agent identification. The information is accessible to the public, insurance companies, associations, and the OJK, thus offering greater protection to consumers.
The Indonesian insurance policy database offers detailed data on individual policies across insurance sectors, including life and general insurance, which is reported monthly via the OJK’s online reporting application. The initiative is designed to strengthen risk-based supervision, support policy guarantee programs, and enhance data governance and transparency within the industry. The database includes crucial information about policyholders, the benefits they are entitled to, and how risks are managed.