Indonesia: Life insurance marketing force remains stable
Source: Asia Insurance Review | Aug 2019
The number of licensed life insurance marketers at the end of the first quarter of 2019 increased by 0.4% to 595,192, compared to 592,913 people in the previous year, the Indonesian Life Insurance Association (AAJI) has announced.
The marketers are categorised according to agency, bancassurance and other channels.
Head of AAJI communication department Nini Sumohandoyo said that 90.3% of the marketers came from the agency channel. The number of agents dipped slightly, standing at 537,252 at end-March 2019 compared to end-December 2018 when there were 540,058 agents.
In the bancassurance channel, the number of marketers increased by 6.4% to 30,299 people at end-March 2019 compared to end-December 2018. Alternative channels saw the number of marketers grow by 13.3% over the first quarter of this year to 27,641 people.
In March last year, the AAJI said that with the population of Indonesia totalling 250m, the ideal number of life insurance agents required to serve a market of this size is 1m. A