The growing middle class and increasing public awareness of insurance have led to a rising demand for various insurance products. Correspondingly, the need for insurance agents is on the rise. This has created a demand for more qualified agents, as an agent should not be limited to marketing and sales, but also educating clients on how insurance plays its role in providing the right solutions for clients’ protection and future financial needs. Looking at this phenomenon, the Indonesian … [Read more...]
Do we need and trust insurance?
"I don't believe in insurance since it has more disadvantages than advantages," Della, a fresh university graduate, said. She has her reason for making such a statement. Her father's health insurance claim was once rejected by an insurance company, which argued that there were a number of illnesses exempted from coverage in the first year of policy holding. The father needed medical treatment 10 months after he took out his policy. The family thus had to shoulder all the costs incurred from … [Read more...]
Robust Growth
Despite some improvements needed, life insurance industry in Indonesia has developed into an engine of opportunities in emerging markets. The insurance penetration in Indonesia is only 4 percent from the total population, according to Financial Times. “The figure includes those who are covered under policies of Group Life Insurance or Employee Benefit Insurance. It means that there is still a lot of room for improvement and opportunities for the insurance companies to provide insurance … [Read more...]