Insurtech The Digital Future Of Insurance

The potential of marketing insurance products through digital channels is predicted to be a challenge in the insurance industry. Insurance players start competing to make various kinds of innovations.

Seeing this opportunity, held a seminar with the theme “The Digital Future Of Insurance” at Fairmont Hotel Jakarta, Friday (08/10/2018)

Also attending and giving the keynote speech of the Minister of Communication and Information (Kominfo), Rudiantara, he supported the development of digital insurance. He said there were several things that the government had done to support the development of digital insurance.

The development of internet infrastructure is the main thing prepared by the government, namely through the Palapa Ring. This project is divided into three regions, namely west, middle and east.

“The government’s policy to build infrastructure does not want to be based solely on demand projection, because if based on the demand projection we will always be behind the curve. Communication and Information, TIK must be ahead of the curve because the infrastructure built like Palapa Ring builds new demands, so that later it can create unicorn startups,” said Rudiantara.

On this occasion, Chairman of the Indonesian General Insurance Association (AAUI) Product Marketing and Development Division Christian Wanandi was also the guest speaker.

Christian said, around 50%-60% of loss insurance players began to lead to the development of digital distribution. At present, some players are only just starting to develop simple ones such as utilizing social networking and refreshing websites that are more attractive.

“This is certainly an opportunity that must continue to be developed, we hope for better insurance penetration in the future with this digital utilization,” he said.

In terms of regulation, AAUI hopes for full support from the Financial Services Authority (OJK). Some of the association’s proposals regarding digital utilization are expected to not have any further setbacks such as the need for policy hardcopy and wet signatures.

AAUI believes that insurtech business is believed to be increasingly crowded, this is in line with the development of e-commerce which is increasingly increasing in number. But of course this still needs careful preparation. In addition to infrastructure, product development is innovative and easy to understand by customers.

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