Liga Asuransi – The Indonesian insurance industry is entering a dynamic phase, with various policies, challenges, and significant opportunities looming. From the Financial Services Authority (OJK)’s warning regarding the high claims ratio, the surge in industry assets, the discussion about relaxing capital regulations, and the Rp200 trillion injection of fresh funds predicted to trigger a bumper harvest for the insurance sector—all of these are important highlights that cannot be ignored. These developments demonstrate that the insurance industry is not only facing risks but is also at a crucial point in growing stronger, more adaptive, and more competitive.
High Claims Ratio, OJK Warns Credit Insurance Industry!
The Financial Services Authority (OJK) has highlighted the persistently high claims ratio in the credit insurance business. This situation is considered a serious challenge for the industry, primarily due to increasing credit risk and macroeconomic pressures affecting borrowers’ repayment capacity.
Ogi Prastomiyono, Chief Executive of the Insurance, Guarantee, and Pension Fund Supervision Division of the Financial Services Authority (OJK), emphasized the need for insurance companies to strengthen risk management. He also emphasized the importance of risk selection through more prudent pricing and underwriting practices.
Furthermore, the OJK is encouraging the credit insurance industry to take strategic steps, such as improving governance, offering sound and sustainable products, and increasing transparency. According to Ogi, these steps are crucial for credit insurance to optimally fulfill its role as a safeguard for the financial system.
In terms of industry performance, total general insurance and reinsurance premium revenue reached IDR 91.13 trillion as of July 2025, representing a 2.67% year-on-year (YoY) growth.
Meanwhile, the life insurance industry’s capitalization remains solid. Risk-Based Capital (RBC) stood at 312.08% as of July 2025, well above the regulatory minimum threshold of 120%.
Source: https://keuangan.kontan.co.id/news/ojk-soroti-tingginya-rasio-klaim-di-asuransi-kredit
General Insurance Assets Reach Rp257 Trillion! AAUI Reveals the Secret to the Increase
The Indonesian General Insurance Association (AAUI) revealed the factors driving the growth of general insurance industry assets until mid-2025.
Data from the Financial Services Authority (OJK) shows that the total assets of the general insurance industry reached IDR 257.23 trillion as of June 2025. This figure is an 8.8% increase compared to the same period last year.
AAUI Chairman Budi Herawan explained that the increase was driven by a combination of investment value growth and a maintained underwriting surplus. “Furthermore, non-investment contributions, such as premiums collected, also contributed. While there are variations in growth between companies, the aggregate industry assets are showing an upward trend,” he said on Wednesday (September 17, 2025).
Furthermore, Budi stated that until the end of 2025, asset growth will still be influenced by various external factors, such as macroeconomic conditions, public purchasing power, and financial market dynamics.
Meanwhile, internally, investment strategy, portfolio diversification, and underwriting risk management will also be key determinants. Underwriting surpluses in several business lines are believed to strengthen performance, as premiums earned exceed claims paid. This creates technical advantages that automatically strengthen the financial position of general insurance companies.
Will the OJK Loosen Insurance Capital Regulations in 2026? Here’s What Observers Predict!
Insurance observer Wahju Rohmanti predicts that the Financial Services Authority (OJK) will provide flexibility regarding minimum equity requirements for insurance companies in 2026.
According to Wahju, the insurance industry still faces challenges, particularly with product sales yet to fully recover. Under these circumstances, regulatory relaxation is considered a realistic step to ensure companies can continue operating effectively.
“Entering the third quarter, sales pressure in the insurance industry is still quite real,” Wahju said, Tuesday (September 16, 2025).
He added that if the OJK does not provide any relaxation, insurance companies will need to prepare alternative scenarios to meet minimum equity requirements without disrupting business continuity or consumer protection.
The relaxation of minimum equity itself is a significant issue, considering that this regulation is part of efforts to strengthen the resilience and stability of the insurance industry amidst global economic uncertainty and financial market dynamics.
Starting in 2026! OJK Requires Health Insurance to Cover Full Claims, Co-Payment Reduced to 5%
The Financial Services Authority (OJK) has officially prepared new regulations regarding risk sharing in health insurance. The draft OJK Regulation (RPOJK) currently under discussion sets the maximum limit for participant coverage in the scheme.risk sharinglowered from 10 percent to 5 percent.
This was conveyed by the Chief Executive of the Insurance, Guarantee, and Pension Fund Supervisory Agency (OJK), Ogi Prastomiyono, during a working meeting with Commission XI of the Indonesian House of Representatives (DPR RI) in Jakarta on Thursday (…). He stated that this policy is an improvement on SEOJK 7/2025, which previously set a co-payment limit of 10 percent. This regulation will eventually be replaced by a more comprehensive POJK.
Under this new regulation, every health insurance company is required to offer products without risk-sharing features. This means consumers have the right to choose products with 100% claim coverage, albeit at higher premiums. However, companies are still permitted to offer products with risk-sharing (co-payment) schemes for customers seeking more affordable premiums.
Apart from reducing the portion of participant liability, OJK also changed the termco-payment become risk sharingThis terminology change came from input from consumer representatives who felt the term co-payment placed too much emphasis on costs.
The OJK emphasizes the importance of transparency. Insurance companies are required to clearly disclose the premium amounts for each product, so prospective customers can compare full coverage and risk-sharing products before making a decision.
As additional protection, the OJK has also established exceptions. For claims resulting from emergencies, accidents, or critical illnesses, all costs will still be covered in full by the insurance company, without any risk sharing.
This new regulation will also include other mechanisms, such as premium adjustments that can only be done once a year (repricing), the obligation to provide an easy-to-understand police summary, as well as setting waiting times for individual and group products.
The target is for the final regulation on strengthening the health insurance ecosystem to be ratified by the end of 2025 and to come into effect in early 2026. “If this is enacted at the end of 2025, we hope it will be officially implemented around April 2026,” said Ogi.
Source: https://www.antaranews.com/berita/5119045/ojk-menurunkan-batas-co-payment-asuransi-jadi-5-persen
Insurance Digitalization Remains Sluggish, OJK Reveals the Causes and Major Challenges!
Ogi Prastomiyono, Chief Executive of the Financial Services Authority (OJK) for Insurance, Guarantee, and Pension Fund Supervision, highlighted the low premium contribution from digital channels in the insurance industry, despite the continued increase in technology use among the public.
“One of the main challenges facing the insurance sector today is how to optimally utilize technology and digital channels,” Ogi said in a written statement on Thursday (September 18, 2025).
Data shows that by July 2025, premiums collected through digital channels had only reached 2.61%. This indicates that digital penetration in the insurance industry is still far from optimal.
Ogi emphasized that the OJK is encouraging insurance companies to accelerate digital transformation to make services more accessible to the public. Digitalization is not only crucial for marketing but must also be implemented in governance, risk management, and claims services for faster, more transparent, and accountable services.
Beyond digitalization, the OJK also emphasized the importance of equalizing insurance access outside Java. Insurance penetration remains concentrated in urban areas, while many other regions remain underserved. Together with the Regional Financial Access Acceleration Team (TPAKD), the OJK will strengthen public literacy about insurance products while also introducing products tailored to local needs.
On the other hand, Ogi also highlighted the significant challenges facing the credit insurance business. High claims ratios remain a problem, driven by increasing credit risk and macroeconomic pressures. Therefore, insurance companies are urged to strengthen risk management by implementing more prudent pricing and underwriting practices.
“The OJK is encouraging the industry to improve governance, develop healthier credit insurance products, and increase transparency so that it can truly function as a protector of the financial system,” Ogi emphasized.
Rp200 Trillion FundDistributed! The Insurance Industry Is Predicted to Have a Big Harvest
The government has officially disbursed Rp200 trillion in fresh funds from Bank Indonesia (BI) to the Association of State-Owned Banks (Himbara). This policy is seen as a strategic step to strengthen banking liquidity and accelerate credit distribution to productive sectors.
Yulius Bhayangkara, Chairman of the Indonesian Insurance Council (DAI) and Chairman of Apparindo, believes the decision could be a breath of fresh air for the insurance industry. He believes that with the massive influx of funds into banks, banks will automatically be required to immediately distribute credit to various sectors, including those directly related to the insurance industry.
“If funds of that size enter the bank, they must immediately disburse them,” said Yulius, Thursday (September 18, 2025).
He estimates that most credit will be directed to the consumer sector, such as motor vehicle financing through leasing, peer-to-peer lending, and other financing channels. This situation opens up significant opportunities for the insurance industry, as every loan and financed asset will require protection.
Furthermore, Yulius stated that this opportunity extends beyond credit insurance to include credit life insurance, asset insurance, and property insurance, especially if labor-intensive development is encouraged. He believes that if credit circulation improves, the insurance sector will enjoy a double impact.
He also emphasized the importance of targeted execution. This policy could be a quick win for the financial industry, if funds actually flow into the real sector. “If they’re only circulated in government securities (SBN), the impact on society and the real economy won’t be felt. The hope is that these funds will actually flow into productive sectors, thus having a multiplier effect, including for the insurance industry,” he explained.
Yulius is optimistic that funding can be disbursed more quickly through existing financing channels like fintech and leasing, without having to wait for new infrastructure. This will accelerate economic growth, and the insurance industry will also benefit from increased asset protection and credit financing.
Bali Floods Cause Huge Losses, Here’s Why Expanding Natural Disaster Insurance Is Important
The recent massive flooding in Bali has caused significant losses to public assets, from property to vehicles. The Indonesian General Insurance Association (AAUI) emphasized that disasters like this serve as a reminder of the importance of expanding insurance coverage for natural disaster risks, particularly floods.
AAUI Chairman Budi Herawan explained that flooding is not a risk automatically covered by standard policies. “To ensure customers receive full protection, an extended coverage clause is required,” he told Kontan on Wednesday (September 17, 2025).
Budi also emphasized that climate change, which triggers extreme weather, now makes flood protection no longer just an optional extra, but a crucial necessity for maintaining the sustainability of assets and the financial resilience of communities.
Regarding the estimated losses from the Bali floods, Budi stated that his office is still awaiting official reports from AAUI member insurance companies. Claims data, for both property and vehicles, is still being compiled. However, based on previous experience, the largest number of claims typically originate from the motor vehicle and property sectors, which were directly affected.
Several general insurance companies have even begun accepting claims. PT Asuransi Simas Insurtech, for example, has recorded three vehicle claims due to flooding, with estimated maximum losses reaching Rp 700 million. Similarly, PT Asuransi Cakrawala Proteksi Indonesia (ACPI) has received six vehicle claims as of September 15, 2025, five of which already have extended flood coverage.
ACPI Deputy President Director Nico Prawiro emphasized the importance of expanding flood coverage. He stated that this additional clause could be a financial lifeline for policyholders when facing a disaster that strikes without warning.
This latest series of news highlights the vital role of the insurance industry in supporting financial stability while providing real protection for the public and businesses. While challenges such as digitalization, risk management, and natural disasters still loom, the opportunities ahead are enormous. With the right strategy, regulatory support, and growing public awareness, the Indonesian insurance industry has the potential not only to survive but also to advance to become a vital pillar of national economic development.
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