The Financial Services Authority (OJK) has maintained a positive outlook for Indonesia's insurance industry, citing expectations of healthier and more sustainable growth ahead.
OJK's Chief Executive of the Insurance, Guarantee, and Pension Fund Supervisory Agency Ogi Prastomiyono said the sector’s growth prospects are supported by a balanced contribution from both individual and group insurance segments.
He noted that while the industry outlook remains strong, insurers must continue to prioritise innovation to stay competitive in an increasingly digital environment.
Looking ahead, Mr Ogi said competition in the insurance sector is expected to be driven more by innovation, operational efficiency, and service quality rather than pricing alone.
He also highlighted the growing importance of technology adoption, including artificial intelligence, in improving efficiency and enhancing underwriting and claims accuracy.