Indonesia Insurance Q1 2020
Indonesia remains a dynamic market for insurers. In the life insurance segment, the growth of premiums is slowing. Weattribute this to fewer new users. The households that understand life insurance and who can afford it are already using it. Othertrends are positive. The life insurers are investing technology to improve customer experience and to develop new distributionchannels. In the meantime, several of the leading life insurance companies are expanding into the provision of healthcare services.Most of the leaders are focusing on Key Performance Indicators other than gross premiums written. The non-life segment shouldbenefit from a generally favourable economic environment. Various factors will contribute to double digit annual premium growth inthe health and personal accident sub-sector and in the credit/ financial guarantee sub-sector.
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