Indonesia’s insurance sector holds considerable potential, given the country’s current low penetration rate, large domestic population and growing middle class. While the industry suffered a setback in early 2020 when allegations of a “pump-and-dump” scheme involving investment funds managed by two state-owned insurers came to light, the...
Bancassurance has emerged as a high-growth segment for insurance sales in recent years, as banks seek new revenue sources and diversification of their customer portfolios. In January 2019 the Indonesia Life Insurance Association (AAJI) forecast that total life insurance premium generated through the bancassurance channel would grow by 15-30%...
The development of Indonesia’s capital markets has been buoyed by strong investor interest and high, consumption-led economic expansion on the back of a government push to boost annual GDP growth. Ongoing reforms hope to liberalise Indonesia’s financial landscape and provide a legal and regulatory basis for product diversification and deeper...
Indonesia’s financial technology (fintech) sector is one of the most dynamic and competitive in the world, as evidenced by the emergence of four unicorn companies – start-ups valued at over $1bn – and one decacorn, valued at over $10bn. These new tech giants include one digital payment firm, OVO, while the rest offer a number of integrated...
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