The Life Insurance Industry's Opportunities in Indonesia Are Still Large: https://keuangan.kontan.co.id/news/aaji-peluang-industri-asuransi-jiwa-di-indonesia-masih-besar/6 November 2018
The market niche of the life insurance industry in Indonesia is still wide open. Data from the Indonesian Life Insurance Association (AAJI) shows year on year growth (y-o-y) in the second quarter of 2014 to 2018. According to the Executive Director of the Indonesian Life Insurance Association (AAJI), Togar Pasaribu said that the average new premium growth in the second quarter of 2014 until the second quarter of 2018 was 18.3%. At present, only 6.6% of the Indonesian population has a policy. The new premium in the second quarter of 2018 grew 7.39% to Rp.59.85 trillion. Previously, the new premium was recorded at Rp.55.73 trillion in the same period.
Togar said that the small portion of the customer, the life insurance industry business opportunity automatically has the potential of up to 93.4% of the Indonesian people who have not been reached by insurance and now opportunities are widening with the development of technology. This will be a good time to increase Indonesian people's understanding of life insurance products so that life insurance penetration in Indonesia can increase.
Exist in the Life Insurance Industry Crisis : http://rri.co.id/post/berita/196589/ekonomi/industri_asuransi_jiwa_eksis_di_tengah_krisis.html/3 September 2015
The life insurance industry managed to record positive growth amid slowing economic growth.
Report of the Indonesian Life Insurance Association (AAJI) regarding the performance development of the life insurance industry in Indonesia in the second quarter of 2015 mentions, total premium income of the life insurance industry increased by 26.6% from Rp.53.58 trillion in the second quarter of 2014 to Rp.67.82 kdua quarter trillion in 2015. The increase in total premium income was influenced by growth in new business premiums of 28.2% and a further premium of 24.4%.
"The condition of the national economy weakened and the stock market turmoil in the second quarter of this year, have an impact on national industries, including life insurance industry. However, we are grateful to the life insurance industry still posted a positive performance," said Chairman AAJI, Hendrisman Ramim in the exposure of industry performance Life insurance in the House AAJI, Jakarta, Thursday (09/03/2015).
"It shows people still believed life insurance, and increased public awareness of the importance of financial planning in the future," continued Hendrisman.
Life Insurance in Indonesia
Indonesia Industry Report and Market Research
June 13, 2024
Industry Code : K81411
Forecast to : 2028
Definition
Life Insurance in Indonesia This class consists of insurance enterprises that specifically handle the risk of death, accident or sickness; and also includes old age / future pensions for the insured party with an insurance value fixed and agreed to by the parties included in the contract.
Activities
The primary activities of firms in this industry are:
The Life Insurance industry in Indonesia research report contain trend analysis, statistics, market size information, industry growth rates as well as major competitors.
Major market segments are identified and also those forces affecting demand and supply within this industry. Performance analysis includes emerging industry trends as well as recent results and performance of each key company. Drawing on the depth of information DIS also provides 5 year forecasts for this industry.
The comprehensive study also examines details such as the barriers to entry, operating cost structure, technology & systems and domestic & international markets. Tables and statistics include: Industry revenue, exports, imports, wages and number of companies in the industry, Industry growth and geographic regional data.
