Magazine

Apr 2020

Read the latest edition of AIR and MEIR as an Interactive e-book

Indonesia: Life morbidity table to be developed

Source: Asia Insurance Review | Dec 2017

Indonesia Life & Health

Several major players in the Indonesian life market have signed a Memorandum of Understanding to develop the country’s first morbidity table.
 
   The parties are: Indonesia Re, Indonesian Actuary Association (PAI), Indonesian Life Insurance Association (AAJI) and Swiss Re. The signing took place on 27 October.
 
   Head of Actuarial & Life Portfolio Management Division of Indonesia Re, Mr Nico Demus, said that currently many insurance companies have different views on calculating the amount of premiums. As a result, there is often a different interpretation of the amount of premiums to be paid.
 
   “So with this morbidity table, we can calculate the amount of premium in accordance with the existing risk factors,” he told Antara News Agency.
 
   According to him, work on the table will take two years because of the vast volume of data.
 
   He said the morbidity table will be Indonesia Re’s contribution to the development of the national life insurance industry and will support the reinsurer’s goal of becoming a centre of insurance knowledge in Indonesia. A 
 
| Print | Share

Note that your comment may be edited or removed in the future, and that your comment may appear alongside the original article on websites other than this one.

 

Recent Comments

There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.