To counter high medical inflation, the Financial Services Authority (OJK) is planning several initiatives for the health insurance market in Indonesia, the chief executive of the Insurance, Guarantee and Pension Fund Supervisory Division of OJK, Mr Ogi Prastomiyono, has said.
Tugu Reasuransi Indonesia's (Tugure) combined ratio is expected to remain volatile due to the reinsurer's exposure to claim risk from the property and credit insurance businesses, said Fitch Ratings Indonesia (Fitch).
Digital transformation is no longer an option, but a "necessity to survive and thrive", according to EY Partner Bernadeth Saoria Gultom at the 28th Indonesia Rendezvous, which ran from 9 to 12 October in Bali, Indonesia.
The Financial Services Authority (OJK) has said that there has been a shift in the life insurance portfolio mix, with endowment policies contributing the biggest share to the sector, taking the crown from unit-linked products.
Great Eastern has spotlighted 12 most inspiring customers from Singapore, Malaysia and Indonesia by turning their stories into mini films starring themselves. These shorts premiered on the outdoor screen at One Raffles Place recently.
The Financial Services Authority (OJK) has disclosed that two insurance companies have completed the spin-off of their takaful windows or Shariah Business Unit (UUS) as of 31 October 2024, more than two years ahead of the deadline to do so.
Igloo, a Southeast Asian InsurTech, is expanding into the direct-to-consumer market with its launch in Indonesia of www.igloo.co.id.
Around two-thirds (100 out of 145) existing (re)insurance companies as of the end of August 2024 met the first tranche of capital hikes before the 31 December 2026 deadline. Another 45 entities still need to do so, according to the Financial Services Authority (OJK).
Great Eastern Life Indonesia, together with its strategic partner PT Bank OCBC NISP Tbk (OCBC), has launched a new innovative product of GREAT Prestige Optima Protector as a concrete solution in helping people realise their financial goals.
PasarPolis, a Southeast Asian full-stack InsurTech, has announced a major expansion of its strategic partnership with Gojek, Indonesia's top on-demand service and part of the GoTo Group.