General Insurance Claims Soared 35.1 Percent in Quarter I/2022, Property Caused

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Property insurance claims rose 71.7 percent on an annual basis in the first quarter of 2022.

Claims paid general insurance soared 35.1 percent on an annual basis ( year-on-year / yoy) during the first quarter of 2022. business line property insurance a contributor to the increase.

Based on data from the Indonesian General Insurance Association (AAUI), the total claims paid by the general insurance industry were recorded at IDR 9.09 trillion in the first quarter of 2022, up 35.1 percent yoy compared to the same period last year which was valued at IDR 6.7 trillion.

“The 35.1 percent increase in claims was contributed by the payment of property claims, which rose quite sharply 71.7 percent, from Rp. 1.36 trillion to Rp. 2.34 trillion,” said Deputy Head of Statistics, Research & Analysis AAUI Trinita Situmeang at a press conference, Friday (17/6/2022).

According to Trinita, the surge in property insurance claims was caused by claims last year which were delayed due to the impact of the Covid-19 pandemic and were only recorded in the first quarter of 2022. The property claims, said Trinita, have been reported and reserved, and processed properly by the insurance company.

“We hope that in semester II/2022 the trend of property claims will improve or not as big as what happened in the first quarter. Now it is starting to stretch again, the claims settlement processes have been carried out and the payment commitments are recorded ,” he said.

In addition to property insurance, other business lines that experienced a significant increase in claims include health insurance which also rose sharply by 84.4 percent yoy, credit insurance rose 47.7 percent, surety ship was good 41.6 percent, engineering insurance rose 37.5 percent.

“Then it was contributed by an increase in claim payments for offshore energy by 141 percent, where payments made this one quarter were Rp. 621 billion,” added Trinita.

AAUI: Claiming Death Insurance is Not as Easy as Suspect Wahyu Suhada imagined

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The chairman of the Indonesian General Insurance Association (AAUI), Bekasi Branch, Aditya Yohan Kusuma, said that insurance companies can terminate contracts or continue premiums on insurance customers of suspect Wahyu Suhada (35) alias WS. According to Aditya, claiming death insurance with a value of tens of billions of rupiah is not as easy as imagined by WS.

WS is known to be the mastermind behind the engineering of death reports in order to claim insurance with a total of Rp 15 billion from four life insurance companies.

“With this incident, the insurance company can terminate the customer’s contract or continue the customer’s premium. However, it is very likely that the contract will be terminated due to bad faith and against the law, through a plan to fabricate his death report,” said Aditya Yohan Kusuma when contacted on Saturday (11/6/2022).

It is known that WS is eyeing insurance claims with a total of Rp 15 billion from four life insurance companies, namely Astra Life, Allianz, FWD and Mega Life.

This plan can be dismantled by the Police when WS colleagues report a traffic accident that caused WS to disappear and drown in Kalimalang, Hegarmukti Village, Central Cikarang District, Bekasi Regency on Saturday, June 4, 2022.

According to Aditya, although WS and his three colleagues managed to manipulate his death and make a death report to the police, insurance claims are not easy to disburse to their customers.

“There will be a team of surveyors who will verify and validate in the field to ensure that the customer has indeed died. So, the process is not as easy as imagined by the maker of the death engineering,” he explained.

He added, with a total life insurance claim reaching Rp 15 billion, it can be estimated that the premium payment by a customer. “At least, one policy is around Rp. 20 million per year. And, such conditions are rather rare, one person has four death insurance policies at once,” he concluded.

Types of Investors, From Sleeping Investors to Aggressive Investors, which one are you?

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In the digital era, now anyone can become an investor in both the capital market and crypto assets. There are many different types of investors in the investment world, and each investor has his or her own views on how to respond to investor risk.

In the digital era, now anyone can become an investor, both in the capital market and crypto assets. There are many different types of investors in the investment world, and each investor has his or her own views on how to respond to investor risk.

Quoting Pintu Academy, Sunday (12/6/2022), this will also help investors determine investment products that suit their respective risk profiles.

There are two aspects of consideration in investing, namely based on potential profits and risks. If market participants find an investment worth investing in, they need to consider both things before investing.

Understanding Investors

The meaning of investor is any individual or other entity that places funds with the hope of obtaining a financial return.

Investors rely on different financial instruments to earn returns and achieve their own financial goals, from setting up retirement savings, funding college education, or simply accumulating additional income over time.

Meanwhile, according to experts, investors are individuals or institutions that carry out long-term and short-term investment activities.

This understanding was explained by Nasarudin and Surya in 2004 through their book entitled “Legal Aspects of the Indonesian Capital Market”.

4 Types of Investors

The following are the types of investors in the community, including which one are you?

Conservative Investor

Conservative investors are the type of investors who have the lowest risk profile. This type of investor has the characteristics of wanting a safe investment and the rate of return tends to be stable and is very afraid of reducing the principal of the investment.

Generally, those who fall into the conservative category are novice investors who are just interested in investing. Investors like this usually place the level of security above the profits generated.

Moderate Investor

Moderate investors are the types of investors who choose a moderate risk profile. This type of investor is generally an investor who targets medium-term finance and is prepared for a rate of return whose fluctuations are not too significant.

This type of investor is still not too brave to take high risks. For moderate investors, they still tolerate risk in investing.

However, this does not apply to risks that are classified as large. The presence of fluctuations that occur in the asset market has also begun to be understood by this type of investor.

Generally, moderate investors always look for a balanced proportion between the income received and the risks that may occur. This type of investor is also always vigilant in choosing the type of investment

Aggressive Investor

Aggressive investors are the types of investors who have the principle of high risk-high gain. This type tends to look for high returns or in other words this type is brave to take high investment risks.

This type of investor is always ready if the investment is reduced or even lost to get high returns. Generally, this type of investor is an investor who already has a lot of experience.

These types of aggressive investors are those who are used to dealing with fluctuations in asset market prices, even to extreme fluctuations.

This type of aggressive investor is also never afraid to save his capital in investment instruments that have a high risk profile.

Sleeping Investor

Sleeping Investor means an investor who earns big profits without having to do much. This term has become popular recently in the investment world, especially stock assets.

This type of investor is usually a long-term investor. Not only as a form of investment, but this type of investor also has a stable psychological health condition because he doesn’t think too hard about monitoring asset movements excessively.

Becoming a sleeping investor can be started with small capital according to financial capabilities. To become a sleeping investor, you must understand the financial fundamentals and the investment model you want to buy.

Opportunity is still great, this is the growth of the insurance industry in Solo Raya

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As of the first quarter of 2022, total insurance premiums in the Solo Raya area were recorded at Rp. 140.42 billion, an increase of 2.67 percent compared to the same period the previous year.

Head of the Financial Services Authority (OJK) Surakarta Office, Eko Yunianto, said that the Solo Raya area still has a large market opportunity for the insurance.

Eko said, up to the first quarter of 2022, the total insurance premiums in the Solo Raya were recorded at Rp. 140.42 billion, an increase of 2.67 percent compared to the same period the previous year.

Meanwhile, the number of claims was recorded at Rp53.58 billion. This number increased by 37.36 percent compared to the same period last year.

“The Solo Raya area still has great opportunities in the insurance industry sector, so it is necessary to get mutual attention so that financial understanding and public access to insurance financial products and services can be further improved in the future,” said Eko in his remarks at the Financial Literacy event for MSMEs in the City.

Surakarta with PT Asuransi Sinar Mas and PT Sinarmas Credit Guarantee, Saturday (11/6/2022).

Meanwhile, for the insurance office network in Solo Raya, OJK noted that there are 24 insurance branch offices. In addition, there are 66 insurance marketing offices, 3 offices other than branch offices, and 1 office other than branch offices in the form of a sharia business unit.

Furthermore, Eko said that the level of financial literacy and inclusion in Indonesia is still relatively low. Based on the results of the 2016 – 2019 OJK survey, the level of financial literacy increased from 29.66 percent to 38.03 percent, while financial inclusion increased from 67.82 percent to 76.19 percent.

Meanwhile, Eko said, the level of insurance literacy is still relatively small, which only reached 19.4 percent, while financial inclusion only reached 13.5 percent.

“Of course this shows that the insurance sector can still grow bigger so that it can achieve the 2024 financial inclusion target set by the government to reach 90 percent. This target is a big challenge for OJK, financial service players and stakeholders,” said Eko .

He also appealed to all stakeholders with OJK to always work together and coordinate to achieve financial literacy and inclusion targets in 2024.

Meanwhile, PT Asuransi Sinar Mas provides financial literacy to 100 MSMEs in Surakarta City. This is the company’s commitment to support the OJK program to improve financial literacy for the Indonesian people.

“The targets of our literacy participants are MSME actors. We realize that MSMEs are an important part of the Indonesian economy and the importance of MSMEs to have knowledge about finance,” said Dumasi MM Samosir, Director of Asuransi Sinar Mas.

The determination of MSMEs as financial literacy targets is also in accordance with the OJK program in 2022 in order to accelerate national economic recovery through inclusive financial literacy.

Financial literacy materials were provided by the literacy team from PT Asuransi Sinar Mas and PT Simas Penjaminan Kredit. The education delivered includes how to manage finances, manage risk, knowledge of insurance and micro insurance, as well as credit guarantees that are suitable for MSMEs.

Life Insurance Policy Increases by 3 Million

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The life insurance industry recorded the addition of more than 3 million policies and 11 million insureds in the first quarter of 2022. Thus, there are 20.87 policies and 75.45 million people protected by life insurance.

Head of Marketing and Communications at AAJI Wiroyo Karsono said the total policies reached 20.87 million, an increase of 17.4% year on year (yoy) or an increase of more than 3 million policies in the first quarter of 2022. Of the total policies, national life insurance has protected 75.45 million Indonesians or grew by 18.1%.

“This is a positive thing because we know that penetration in life insurance in Indonesia needs to be increased again. With so many policies, we hope that penetration will be better, so that it can be the same or even better than neighboring countries,” said Wiroyo in the Life Insurance Industry Performance Report. Quarter I-2022, Friday (10/6).

Meanwhile, the total sum insured experienced a slowdown by 4.0% in the first quarter of 2022 to Rp 4,425.01 trillion. AAJI’s analysis explains that an increase in the number of the insured that is not followed by a growth in the sum insured indicates a smaller average premium paid.

“This is an indication that interest in insurance from the middle-lower economic community is increasing. So the number of policies is increasing, but the average premium is lower, so the overall money insured becomes smaller. Wiroyo.

Chairman of the AAJI Management Board, Budi Tampubolon, said that there was a change in the preference for purchasing insurance products from the public, from the previous single premium to a regular premium . He believes that there is a tendency for people to start buying protection-based insurance products.

“This increase is indicated to come from micro insurance products, relatively small premiums are starting to be in demand by people in the middle-low income,” said Budi.

According to him, public awareness of the long-term protection of life insurance also tends to increase. claim surrender and partial withdrawal which decreased significantly, 42.5% and 31.4% respectively. “This, for us, indicates that the number of people canceling their policies has decreased drastically,” said Budi.

Production Performance

On the other hand, Budi said, the life insurance industry posted a total revenue of Rp 62.27 trillion, down 0.6% (yoy). Meanwhile, in the first quarter of 2021, total premium income rebounded 13,279.1% (yoy) from negative Rp 0.48 trillion to Rp 62.63 trillion.

“The depression in the total income of the life insurance industry tends to be caused by a decrease in the total component of premium income, reinsurance claims, and other income. Meanwhile, investment income has increased rapidly,” he explained.

Based on AAJI data, regular premiums ( weighted ) were recorded at Rp 25.51 trillion, down 4.9% (yoy) in the first quarter of 2022. Likewise, the single premium fell deeper by 23.3% (yoy) to Rp 2.35 trillion.

Judging further, insurance products linked to investment (PAYDI) or unit links are one of the causes of the decline in life insurance production. Unweighted unit link premiums decreased 18.9% (yoy) to Rp 29.07 trillion, but still dominated at 59.30% of the total premium.

“The Covid-19 pandemic has put pressure on people’s purchasing power so that the total premium income for the life insurance industry has decreased on average. Moreover, we remember that in the first quarter of 2022 there was a strict PPKM due to high Omicron cases , said Budi.

As premium production declines, the number of policyholders and unit link also declines. policyholders unit-linked decreased 8.2% (yoy) in the first quarter of 2022 to 6.12 million people. Meanwhile, the number of unit-linked decreased by 6.7% to 6.38 million people.

On the other hand, sharia life insurance premiums or contributions grew 18.2% (yoy) in the first quarter of 2022 to Rp 5.84 trillion. Budi said this good news shows that sharia life insurance products are increasing in demand by the people of Indonesia because of the principle of mutual assistance and mutual protection between customers. Sharia literacy is also growing so that people’s understanding of sharia life insurance is increasing.

Another positive trend was recorded investment returns which grew by 347.9% to Rp 10.81 trillion in the first quarter of 2022. This growth was supported by the positive performance of the JCI from 5,985.5 to 7,071.4. Considering that the placement of life insurance investments in the capital market in the form of shares and mutual funds reached Rp. 303.53 trillion or covering 56.51% of the total investment of Rp. 545.79 trillion.

The tactic of being a missing victim for an insurance claim of Rp. 15 billion is revealed

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The Cikarang Central Police, Bekasi Police have revealed that the main actor is making traffic accident engineering for insurance claims worth Rp. 15 billion. The tactical actor named Wahyu Suhada (35) aka WS. Wahyu fabricated the story of the drowning victim in Kalimalang, precisely on Jalan Inspeksi Kalimalang, Hegarmukti Village, Central Cikarang District, Bekasi Regency on Saturday, June 4, 2022.

Wahyu then surrendered himself to the Central Cikarang Police Headquarters, Thursday, June 10, 2022, after the police determined that he was on the wanted list (DPO). Previously, members of the Criminal Investigation Unit of the Central Cikarang Police had also arrested three of Wahyu’s colleagues, namely Abdul Mulki (37), Dena Surya (25) and Asep (35).

Central Cikarang Police Chief, AKP Awang Parikesit, said the main actor’s motive for engineering traffic and drowning in Kalimalang was to obtain insurance claims up to a total of Rp 15 billion from four insurance companies.

“The suspect WS registered himself in four different insurance policies between Astra Life, Allianz, FWD, and Mega Life. If successful, the suspect will get an insurance claim of Rp 15 billion,” said Awang Parikesit when showing the suspect Wahyu Suhada at the Central Cikarang Police Headquarters, Friday (10/6/2022).

To realize this action, Wahyu invited three of his colleagues to engineer a traffic accident. According to him, Wahyu was desperate to engineer a traffic accident because he lost money after playing EDC cash or E-Dinar Coin Cash. The owner of this EDC cash has been named a suspect with criminal acts of fraud to approximately 57,000 members with a loss of Rp. 300 billion.

Meanwhile, Wahyu Suhada when asked why he engineered the traffic accident, because he was stuck in debt from the EDC cash application of up to Rp. 2.8 billion.

“Because my condition is in debt. So, I have to pay some that I have to pay. And, I had dark eyes, so I finally did it (traffic accident engineering),” said Wahyu.

Wahyu added that the insurance he followed was for the preparation of his wife and children. “When I die,” he added.

Previously, it was reported that Wahyu Suhada and Abdul Mulki were reported to have had a traffic accident while riding a Kawasaki KLX motorcycle with license plate number F 6058 FHB. The two victims were hit by a Toyota Fortuner on Jalan Inspeksi Kalimalang, and then bounced off to Kalimalang on Saturday, June 4, 2022. Wahyu was reported missing and drowned in Kalimalang and his partner, Abdul Mulki, only suffered minor injuries.

To account for their actions, the four suspects are now charged with Article 220 of the Criminal Code regarding False Reports with a threat of 1 year and 4 months in prison.

MAGI and Bank Neo Commerce Expand Financial Services

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PT Mandiri AXA General Insurance (MAGI) & PT Bank Neo Commerce Tbk. (BNC) signed a cooperation to expand financial services holistically.

PT Mandiri AXA General Insurance (MAGI) & PT Bank Neo Commerce Tbk. (BNC) signed a cooperation to expand financial services holistically in providing protection solutions, starting from health protection through various distribution channels owned by BNC, both through branch offices and in the future through digital channels.

This collaboration is the commitment of the two companies to maximize the advantages of their digital products and ecosystem in providing convenience for the Indonesian people in managing finances and risks.

The signing of the cooperation on Friday (10/6/2022), is a strategic step for MAGI, a general, asset and health insurance company which is a subsidiary of AXA and Bank Mandiri in Indonesia, to collaborate with one of the digital banks with the fastest growth, namely Bank Neo Commerce.

This collaboration is supported by the development of an integrated, secure, and integrated IT system to process requests from customers quickly and safely in order to obtain the best protection.

“This collaboration is the first step for MAGI and BNC to accelerate financial inclusion and insurance awareness for the Indonesian people. MAGI’s product excellence and BNC’s integrated distribution channel are the main strengths for both companies

to increase market penetration,” said Lina Vongsa-Ath, MAGI’s Chief Partnership and Emerging Customer through a press release, quoted on Saturday (11/6/2022).

Lina added, excitedly P

payer to partner, MAGI is committed to not only be a claim payer, but a partner for every customer in every stage of their life.

Together with BNC, of ​​course, MAGI has a wider reach to each of its customers. Bank Neo Commerce which was acquired by Akulaku, a leading digital banking and finance platform in Southeast Asia that operates in four major countries, including Indonesia, the Philippines, Vietnam, and Malaysia.

In addition, BNC is also one of the digital banks with the fastest and most customer growth rates, with more than 17 million customers until May 2022. With its digital ecosystem, neobank application users can perform various banking transactions with attractive financial transaction features.

“Neo Commerce Bank is more than just a bank, we strive with the support of technological advances, to provide digital-based inclusive financial services that are profitable and can be had by everyone. Cooperation

With MAGI, we enrich our product and service portfolio, making it easy for customers to choose, access and get the insurance protection they need,” said Tjandra Gunawan, President Director of Bank Neo Commerce.

For the first stage, one of the products that can be accessed and owned by BNC customers is the Bancassurance Insurance Cash Inpatient product, health protection with very affordable premiums. In the future, together with BNC, MAGI will introduce more health protection and general insurance solutions.

With this initial step, MAGI Together with BNC are ready and committed to invite the public to be more concerned and make health insurance protection a part of the lifestyle of the Indonesian people.

9 Out of 10 People Choose Insurance Wrong

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9 Out of 10 People Choose Insurance Wrong.

Come on, who already has insurance but why do you feel that the product you take is not right, with your current needs. How do you get insurance, especially sharia insurance, but what suits our needs.

1. Determine the insurance needs first, for example health insurance, or life insurance, critical illness insurance, education insurance or others.

Let me give you an example, for example in your family there is a critical illness, and it costs a lot of money so you can easily know how expensive the treatment is. Then you can take the benefits of critical illness.

Another example, if you are the head of the family or you are the breadwinner of a family where everyone in your family depends on you, then you must have life insurance.

Or you have a high-risk job, it’s very important that you have life insurance, if God forbid you have a disaster due to the risks due to your work, those who depend on you will have no trouble when you lose.

2. Make sure the premium paid does not burden your financesideally the insurance premium is 20% of your total income.

3. Choose insurance that has complete featuresFor example, it can be cashless for paying hospital fees, can be used worldwide, not subject to health cost inflation, such as PRUSolusi Sehat Syariah or PRUPrime Healthcare Plus which pays insurance costs according to hospital bills.

4. Choose traditional or unit-linked, syraiah or conventional productsbecause each type has different advantages.

5. Don’t forget to read the policyin order to understand the product being purchased or a summary of the illustration when it was first explained

Thus a brief explanation of how to choose the right insurance.

Prudential Sharia Insurance

Prudential Sharia

How do you not choose the wrong insurance, which suits your needs, because there are so many people who have insurance but it doesn’t fit their needs

PRUSolusi Sehat Syariah is a health insurance product that provides a complete and flexible solution for health protection by PAYING BENEFITS ACCORDING TO HOSPITAL BILLS.

The BEST Health Insurance Products today.

best because:

  • Cheap Premium
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  • VALID ALL WORLDWIDE
  • Cover hospital costs ONLY BILLING for 365 days per year.
  • Treatment limit Up to 99THN.
  • Benefits of Outpatient Cancer and ODC ( ONE DAY CARE )
  • 2 doctor visits per day.

the submission method is very easy, ANYTIME and ANYWHERE, Can be without FACE-TO-FACE

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Benefits of Having Health Insurance

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Benefits of having insurance, what are the benefits of having insurance? Have you ever thought about the benefits of having insurance, especially health insurance. Let’s review one by one.

1. No need to worry about the cost of treatment
 No need to think about the cost of treatment so you can focus on recovering when you’re sick.


2. Protect savings
Will protect existing savings from the risk of increasing health costs due to health cost inflation.

3. Don’t bother the family
You won’t bother your family if you’re sick, they don’t have to worry about the cost of your treatment at the hospital


4. Does not require a loan for brobat
You don’t have to worry about the cost of medication that keeps going up, let alone borrowing money from your friends or relatives.

Currently, health insurance has covered costs according to hospital bills, so you don’t have to worry about hospital bills anymore, just with an affordable permit you can already have good health protection, such as PRU Solusi Sehat Syariah health insurance, which pays hospital bills in accordance with bill.

The Sharia Healthy Prussolution has advantages including:

PRUSSolution Syariah Health insurance flexible and affordable for you to have, premiums start from 280 thousand rupiah.

You can have rooms with room type or inpatient room limit rates.

Benefit limit of up to 65 billion, according to the plan you chose from the start

  • Outpatient & inpatient surgery

Treatment 30 days before and 90 days after hospitalization

ADVANTAGES of Sharia Health Insurance Prussolution:

Payment of insurance benefits according to hospital bills, according to the chosen plan.

  1. Flexibility in determining inpatient rooms, room type 1 bed 1 room or 2 bed 1 room. And with room limit rates.
  2. Extensive protection throughout the world.
  3. The sharia health policy is valid for 1 year of membership and can be extended to the insured age of 99 years.
  4. The sharia healthy prusso has a limit booster that adds an annual benefit limit of up to 65 billion.
  5. Outpatient benefits for dialysis and cancer treatment according to hospital bills.
  6. Outpatient care 30 days before and 90 days after hospitalization.
  7. More doctor visits per day 2x doctor visits per day and 2x visits to specialists and sub-specialists per specialist type per day.
  8. Claims outside the area that has been selected from the start with a certain percentage.
  9. The increase in the annual benefit limit is an additional 10% every year up to a maximum of 50%.

Provision GENERAL

  • Entry age 30 days – 70 years
  • 21 year old policyholder
  • Max extension of 98 years actual age
  • 30 day waiting period, except for COVID -19 without waiting period
  • 90 day cancer waiting period
  • The waiting period for certain diseases is 12 months
  • Premium 280 thousand
  • Frequency of payments monthly, 3 months, 6 months, yearly. For an annual payment, it’s free for 1 month, so it’s enough to pay for 11 months.

Facility Other

  • PRUSolusi Sehat Syariah Limit Booster Additional Limit given once at the beginning and can be used if the annual benefits have expired.
  • PRUSSaver solution for protection with cheaper premiums
  • NO Claim Bonus Annual benefit facility increases 10% from the initial benefit limit each year with a total accumulation of 50%
  • Dana Marhamah benefit is a compensation given if the participant dies due to illness/accident.