As an online media that is committed to providing reliable information about the insurance industry in Indonesia, LigaAsuransi.com once again presents a news summary and in-depth analysis from official and credible sources. Based on our extensive experience monitoring the dynamics of this industry, we understand the importance of speed, transparency, and innovation in insurance services. In this edition, we cover a variety of key issues: from the challenges of the claims process, which are still frequently complained about by customers, the launch of new insurance products with unique benefits, to strategic regulations from the Financial Services Authority (OJK) that will influence the direction of future industry development. This article is designed to help you—whether as a customer, industry player, or policy observer — understand the current landscape of the national insurance world more comprehensively and credibly.
Just Released! This Life Insurance Plan Promises to Pay Benefits Even While You Remain Healthy! Pay Only 5 Years, Coverage Until 75!
PT MSIG Life Insurance Indonesia Tbk (MSIG Life) officially introduced its newest life insurance product, Smile Critical Ultima Care (SECURE), at a launch event held on Thursday (July 17, 2025) in Jakarta. This product offers comprehensive protection against the risks of critical illness and death, as well as ensuring continued health in old age. MSIG Life is targeting premiums of IDR 40 billion in the first year.
CEO & President Director of MSIG Life, Wianto Chen, emphasized that SECURE is an innovative product with guaranteed benefits that are paid under any circumstances, whether the customer experiences a critical illness, dies, or remains healthy until the age of 60 or 75.
“In an increasingly risky world, we present SECURE as a total protection solution. No matter what happens, your benefits will still be paid,” said Wianto.
1 Police, 3 Great Benefits
SECURE products provide:
- Protection against 149 critical illnesses
- Early detection of cancer
- Benefits of healthy living until the age of 75
- Premium payment period is only 5 years
- Total benefits up to 190% of the Sum Insured (UP), including a 100% UP bonus if you remain healthy
Wianto added that customers do not need to purchase a separate policy to get all these benefits.
“One policy is enough. You get critical illness protection, death benefits, and a bonus for staying healthy,” he explained proudly.
Financial Planner: Protect Your Income During a Critical Illness
Olivia Louise, a certified financial planner, also supports the importance of protection like SECURE. She emphasizes that critical illness isn’t just about medical costs, but also the threat of lost income.
“I recommend that everyone have income protection of at least 2–5 years of income, so they can survive financially in the event of a serious illness,” said Olivia.
Smart Investment? LIFE is Getting the Eyes on AI ProPicks!
Amidst the launch of this new product, the question arises: should you invest $2,000 in LIFE stock now?
Investing.com’s ProPicks AI platform has recommended top stocks with high profit potential, andLIFEis said to be on their radar. With over 150,000 paying users, ProPicks uses AI algorithms to select the best stocks that could generate high returns in the next few years.
Is LIFE one of them? Check it out before you regret it!
106 Insurance Companies Win Prestigious Awards! Here’s the List of 2025 Market Leader Winners
The Chairman of the Indonesian Insurance Council (DAI), Julius Bhayangkara, emphasized that the insurance industry must grow inclusively and build public trust, particularly in smaller cities. He believes that building trust is a crucial foundation for expanding protection coverage in Indonesia, given the relatively low insurance penetration rate.
“Insurance companies that have become market leaders must maintain customer trust so that they remain loyal in the long term,” said Julius at the event.Insurance Market Leaders Award 2025which took place in Jakarta, Wednesday (16/7/2025).
The Insurance Industry, a Mirror of the National Economy
INDEF Commissioner Aviliani also highlighted two important indicators: insurance density (average income used to purchase insurance) and insurance penetration (insurance funds compared to GDP). According to her, the progress of this industry not only reflects economic growth but is also influenced by the transparency of information provided to the public.
Insurance Market Leaders Award 2025: Recognizing the Leading Edge
Media Asuransi presented awards to 106 insurance, reinsurance, brokerage, and loss adjuster companies with the best performance throughout 2024. This award was compiled based on research and analysis of 2024 audited financial reports and 2023 OJK statistical data by the Insurance Media Research Institute (LRMA).
According to the LeaderLRMA, Mucharor Djalil, this event, which has been held since 2019, aims to encourage innovation and encourage industry players to continue improving the quality of services and products.
Market Leader Mapping by Category
LRMAThis year, companies are mapped based on 11 groups, including a separation between national companies and joint ventures according to the OJK classification.
Here are some of the results:
- National Life Insurance: 10 market leaders from 22 companies.
- Joint Venture Life Insurance: 11 of 22 companies.
- National General Insurance: 16 of 42 companies.
- Joint Venture General Insurance: 10 out of 20 companies.
- Sharia Life Insurance: 5 out of 28 companies.
- Sharia General Insurance: 5 out of 21 companies.
- Reinsurance: 4 market leaders from 9 companies.
- National Insurance Broker: 15 out of 135 companies.
- Joint Venture Insurance Broker: 4 out of 10 companies.
- Reinsurance Broker: 16 of 41 companies.
- Loss Adjuster: 10 out of 27 companies.
Mucharor emphasized that this event has reached all players in the insurance industry ecosystem since 2014. Companies that consistently receive this award now serve as benchmarks and inspiration for other players in shaping the future of the Indonesian insurance industry.
Source: https://www.waspada.id/ekonomi/industri-asuransi-dituntut-tumbuh-dan-kembangkan-kepercayaan-publik/
Uncovering the Challenges Behind the Insurance Claims Process! Turns Out This Is What Often Hinders Prompt Payments to Customers
Many policyholders desire fast claims processing and premium payments. However, in reality, the insurance industry faces various obstacles in realizing these expectations.
Tatang Nurhidayat, a member of the Advisory Board of the Indonesian Sharia Insurance Association (AASI), revealed that one of the main obstacles is the complex service chain within the insurance ecosystem. He cited the example of health insurance, where the claims process involves hospitals, doctors, and medical administration. Similarly, vehicle insurance requires coordination with repair shops, mechanics, and business owners.
“The large number of parties involved between the company and the customer makes the process long and complex,” said Tatang.CNBC Indonesia Insurance Forum 2025, Monday (14/7/2025).
Tatang explained that speed of service often clashes with the need for accurate risk analysis. Claims cannot be immediately approved without valid and complete data from all relevant parties—which cannot always be gathered quickly.
He emphasized the importance of strengthening data systems and ensuring transparency between parties to expedite the process without neglecting the principle of prudence. He argued that rushing the claims process without thorough validation could actually lead to bigger problems later on.
“Many companies try to cut down on processes, but end up suffering the consequences later on,” he explained.
As a comparison, he cited the banking industry, which has already implemented e-KYC (electronic Know Your Customer) to expedite the customer identification process. Meanwhile, the insurance industry is still burdened by numerous intermediaries and a wide variety of products that require more complex verification processes.
Looking ahead, he encouraged the insurance industry to leverage digitalization to simplify the claims process, including by gradually reducing data requirements and encouraging more efficient direct interactions with customers.
Indonesia’s Insurance Giants in 2025: Who’s Number One? This List Will Shock You!
The insurance industry in Indonesia is showing increasingly rapid growth, driven by increasing public awareness of the importance of financial protection. Amidst increasingly fierce competition, several insurance companies are standing out thanks to the strength of their assets, distribution networks, and the variety of products they offer.
CNBC Indonesia, through its research team, reviewed and compiled a list of the top 10 insurance companies based on their performance as of March 2025. The assessment was conducted on more than 50 conventional insurance companies officially registered with the Financial Services Authority (OJK).
This list not only considers asset size or number of clients, but also includes key indicators such as liabilities, equity, gross premiums, net profit, investment adequacy, and expense-to-net premium efficiency. All data is processed using industry-based analysis methods based on standard deviation to ensure fairness and balance across companies.
Although this list is not arranged by ranking, it represents the strength of the major players who are able to survive amidst the onslaught of economic pressures, such as high interest rates, inflation, global uncertainty, and international trade policies.
Here it is CNBC Indonesia’s 10 insurance companies of choice for 2025:
- PT MSIG Life Insurance Indonesia Tbk
Excellence in various product lines of life insurance, endowments, unit links, and health. Digital innovations such asVEGA by MSIG Lifeand applicationsMyFit+adding value to customer service. By the end of 2024, the company managed assets exceeding IDR 14 trillion. - PT Asuransi Tugu Pratama Indonesia Tbk (TUGU)
A subsidiary of Pertamina which is a specialist in the corporate general insurance sector, particularly energy, oil and gas, and marine hull. - PT Reasuransi MAIPARK Indonesia
Indonesia’s only specialist catastrophe reinsurance company. Providing protection against earthquakes and natural disasters. - PT IFG Life Insurance
- PT BRI Life Insurance
- PT AXA Mandiri Financial Services
- PT PFI Mega Life Insurance
- PT Prudential Life Assurance
- PT Asuransi Allianz Life Indonesia
- PT Asuransi Jasa Indonesia
These companies offer a broad spectrum of services, from life insurance and general insurance to reinsurance. They have also demonstrated strong resilience in meeting their financial obligations to customers amidst global economic challenges.
For those looking to choose the best coverage, this list can be a reliable reference for finding insurance companies with solid financial performance, innovative services, and a trusted reputation.
OJK Exposed! Here’s Why High-Tech Projects Refuse to Use Local Insurance
A member of the Board of Commissioners of the Financial Services Authority (OJK) in charge of supervising the insurance sector, Ogi Prastomiyono, revealed that the low performance of the domestic insurance industry still makes companies reluctant to use local insurance services, especially in large-scale technology projects.
According to Ogi, a number of complex projects such as satellites, fiber optic networks, and other technological infrastructure still do not have the full trust of industry players to be covered by Indonesian insurance companies.
“In projects that require high sophistication, project owners are not yet confident in entrusting their protection to domestic insurance,” said Ogi in Insurance Forum 2025, Monday (14/7/2025) in Jakarta.
To address this, Ogi offers two solutions:
- Increasing local capacity, although he admits that this will take a long time.
- Forming a joint venture (JV)between local insurance companies and global players with proven expertise. He called the second option the fastest path to catching up.
On the other hand, the Financial Services Authority (OJK) recorded positive growth in the national insurance industry, with total assets reaching Rp 1,163.62 trillion as of May 2025, up 3.84% year-on-year (YoY). Previously, in April 2025, total assets were recorded at Rp 1,162.78 trillion, also growing 3.66% YoY from Rp 1,121.69 trillion the previous year.
For the commercial insurance sector, assets reached Rp 940.48 trillion, an increase of 4.13% YoY, with premium income during January–April 2025 amounting to Rp 116.44 trillion, an increase of 3.27% YoY.
In terms of capital, the insurance industry demonstrates healthy financial strength, with life insurance Risk Based Capital (RBC) at 474.77% and general insurance and reinsurance RBC at 315.98%—well above the safe threshold of 120%.
Meanwhile, total non-commercial insurance assets, including BPJS Kesehatan, BPJS Ketenagakerjaan, as well as ASN, TNI, and Polri programs, reached Rp 222.3 trillion, growing 1.73% YoY.
The Cyber Insurance Market Is Exploding! Reaching US$73.5 Billion Due to Hacker and AI Threats!
IMARC Services Private Limited revealed that the global cyber insurance market is expected to experience a significant surge over the next eight years. From a market value of US$14.2 billion in 2024, the sector is predicted to grow rapidly to US$73.5 billion by 2033, with a compound annual growth rate (CAGR) of 17.9%.
The report was published byInsurance Asia, Wednesday (June 16, 2025), highlighted that this dramatic growth is driven by the increasing frequency of cyberattacks and data breaches across various industries. Many companies now realize that the risks of the digital world can no longer be underestimated.
Amidst the surge of digitalization and reliance on the internet, companies are increasingly vulnerable to cyber threats, including data theft, ransomware, and increasingly sophisticated phishing attacks. Furthermore, stringent data protection regulations in various countries—such asGDPRin Europe and similar regulations in Asia—are forcing companies to strengthen their digital security systems, one of which is by purchasing cyber insurance policies.
Furthermore, the accelerated adoption of artificial intelligence (AI) technology and business process automation—while providing efficiencies—also indirectly opens new opportunities for hackers. Each automated system brings new risks, forcing businesses to rethink their risk mitigation strategies.
In these circumstances, cyber insurance is a necessity, not an option. This policy provides protection against financial losses resulting from cyberattacks, from system recovery costs and legal compensation to restoring a company’s reputation.
As companies become more aware of the importance of digital protection, and technology and regulations continue to evolve, the cyber insurance market will become one of the most promising business sectors of the decade.
The Financial Services Authority (OJK) Requires Insurance Companies to Set Aside 3.5% of Employee Salaries for Skill Up Programs, Effective 2026
The Financial Services Authority (OJK) is drafting a new regulation that could be a game-changer for the Indonesian insurance industry. This regulation requires every insurance company to allocate a minimum of 3.5% of its labor costs to internal human resource (HR) development.
The Chief Executive of the Insurance, Guarantee, and Pension Fund Supervisory Agency (OJK), Ogi Prastomiyono, emphasized that HR spending is no longer merely an option, but will become a mandatory expenditure item that must be met by insurance industry players.
“Therefore, insurance companies are required to allocate at least 3.5% of their labor costs to employee development,” Ogi said in a statement on Tuesday (July 16, 2024).
This step is considered strategic to encourage sustainable industrial growth and adaptability to changes, ranging from digitalization, international regulations, to increasingly complex consumer needs.
According to Ogi, human resource development is key to business expansion and resilience, especially in facing increasingly complex industry challenges. The OJK wants to ensure that the national insurance sector remains competitive compared to global players.
“Our focus is on how to build a healthy insurance industry ecosystem so that the industry can grow sustainably,” he added.
The OJK also emphasized that this regulation will go hand in hand with the previously prepared strengthening of capital and governance. The combination of superior human resources, strong capital, and solid governance is expected to encourage national insurance companies to compete globally.
The target is for this regulation to be officially implemented in early 2026, giving companies enough time to adjust their HR budgets and strategies.
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From the various reports presented, it is clear that the national insurance industry is undergoing reform and transformation. Product innovations such as MSIG Life’s SECURE demonstrate the company’s commitment to meeting the needs of modern customers, while the Financial Services Authority (OJK)’s steps to strengthen human resources demonstrate the regulator’s commitment to building a globally competitive industry foundation. While challenges remain, such as the complex claims process and low trust in local insurance for large projects, improvements are already visible. Now is the time for the public and businesses to be more discerning in choosing protection, while actively monitoring ongoing developments in the national insurance sector.
