Julian Noor

President Director, Adira Insurance

Our priority is the motor insurance business, and in 2018 we will continue to focus on growing this business. Even though we expect sales of motor vehicles to increase, it will not be that significant this year. We will try to expand to enter other non-group multi-finance because we want to utilize our advantage in doing the motor insurance business. In Indonesia there are four or five general insurance companies that currently cover a large amount of motor insurance. One of the requirements of doing such business is that if we get a large amount of motor insurance, then we can manage the loss ratio of the business. Another area where we have solid penetration in is what we call auto series; independent brand surveyor Frontier recently acknowledged us as the second-best brand for auto insurance. Having a product known as a top brand will help us further penetrate other segments of the market. One benefit that we deliver to our customers is our auto claim apps, where our customers can report their claims 24 hours a day. In the past, they would have to wait until our offices opened; now they can download our app and use it to report their claim whenever they want. We immediately respond through the app by directing the customer to go to our auto garage repair shop.

Iwan Pasila

President Director, Mandiri in Health

Our company was formed by the current BPJS Kesehatan to focus on health primarily for employees of state-owned companies, though also other companies. Our portfolio mostly comprises corporate employees. In 2014, the government set up Jaminan Kesehatan Nasional (JKN), one of the largest health insurance schemes in the world to provide social health insurance coverage for all citizens. JKN has rocked the boat regarding health insurance companies. Previously, companies could use their budgets for health to purchase private health insurance coverage. Now, they have to pay a mandatory amount to JKN, and what is left is used for hospitals and family doctors; it is not mandatory for all cities in Indonesia. We are fortunate because we can structure our premium so that it takes into the account the claim that can be paid from JKN. We have been exploring how we can maximize the benefits of this. We still have some concerns from our clients because of the level of comfort experienced in hospitals. Hospitals cannot turn down those with JKN and have thus become more crowded. We structure our business around that and have a designated line at the hospital to provide better care for our members. Our business is fairly unique in the healthcare market because there are few insurance companies that have the ability to compete with us on the scheme.

Maryoso Sumaryono

President, Director, & CEO, PT Asuransi Jiwa Taspen (Taspen Life)

Taspen Life's portfolio is divided into two products. One is the retail man-to-man and the other is group. The employee benefit service is focused on group life insurance, so we grab the group and focus on state-owned company employees. Our parent company is PT Taspen (Persero), state owned company primarily providing social insurance for government employees. Taspen serves around 4 million active employees, more than 2 million of which are public sector pensioners. In 2015, Taspen gave us a big portfolio from state-owned company employees since it was no longer allowed to hold them. At that time, our assets increased from IDR4 billion to IDR2.7 trillion; now they have reached IDR3.2 trillion. Our products are group endowments, group annuities, and group whole life. They are the best products in the industry. There are over 50 life insurance companies in the country, and more than 20 companies are joint ventures; however, we are a local company. In terms of assets we are number 24 because we have focused on government institution and state-owned companies since 2014. In terms of premiums, our growth has been huge; they increased by more than 200% from 2015 to 2016. Our ambition is to be in the top 10 in the industry. Our strategy is to grow our assets through government employees and introduce brand awareness day by day in Indonesia.


Vice President Director, Asuransi Reliance Indonesia

Asuransi Reliance is in the IDR200 billion-1 trillion income bracket. If we take out the captive insurance companies, then we are in the top 10. We received awards in 2008, 2010, and 2014 for being the best insurance company. Some other companies already have captive business because they have their own financing and banking company. Our established premiums have grown up to 70 times and in 2018 we expect to grow by 100 times. We currently serve over 1 million customers across Indonesia through 13 branches and representative offices. We are also partnered with up to 1,000 hospitals across the whole country. Our three main products—motor vehicle, personal accident, and health insurance—are performing well at the moment. Premium production in life insurance has slowed down, though Reliance is still able to maintain its performance with continuous growth. In addition, we focus on health insurance, motor vehicles, and personal accident. We offer customers a wide variety of options in terms of insurance and want them to experience our great service. We have a strong claims department and a one-day service for claims. Our mission is to become a world-class finance company through excellent service quality and the highest integrity. We want customers to choose us because of our service rather than our price and we want them to trust us implicitly.

Antony Japari

President Director, PT Capital Life Indonesia

Capital Life's holding company is PT Capital Financial Indonesia, which was publicly listed in 2016. We also have a bank, PT Bank Capital Indonesia, which was publicly listed in around 2007 and was the first subsidiary company in this financial group. Then the owner established a life and asset management entity and grouped this with venture capital and sharia insurance under one holding company, PT Capital Financial Indonesia. PT Capital Life was established in 2015, and we have three directors in total now. We have a new sister company called PT Capital Life Syariah that was established in 2017 and is operating independently. Our business model at PT Capital Life is to do bancinsurance business; in 2015, we had around IDR200 billion in premiums. In 2016 we achieved IDR2.2 trillion in premiums for new businesses and as of September 2017 had achieved about IDR4 trillion in premiums. The assets of the company are growing rapidly. At the outset, Capital Life had just IDR100 billion in asset capital; now our assets have grown to IDR5 trillion. The company's equity has grown from IDR100 billion to around IDR1.2 trillion. Our growth has been rapid due to our business model. We are a bancinsurance business serving PT Bank Capital Indonesia and other banks and financial institutions, including multi-finance, general insurance, co-insurance, and micro-insurance companies.