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Executive Column: Tech can be answer to insurance coverage lag, says Swiss Re
Swiss Re believes Indonesia has a very low insurance penetration, leaving the country relatively vulnerable due to a wide protection gap.
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Monami Mukherjee, Zurich-based Swiss Re's head of property and casualty insurance for APAC spoke to The Jakarta Post on Tuesday, June 27, 2023. (Swiss Re/PR team)
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nsurance penetration in Indonesia is very low compared with peer countries, leaving the country relatively vulnerable. For insurers, this means there are major opportunities to help the country close the gap, including by digitalization.
Zurich-based Swiss Re Reinsurance Solutions' head of property and casualty insurance analytics APAC Monami Mukherjee spoke to The Jakarta Post’s Deni Ghifari on June 27 about how the company views Indonesia’s insurance market potential and what can be done to improve it.
Question: What are you looking to do in Indonesia?
Answer: We are stepping up work with our clients to make the region and the country more resilient and sustainable.
Our ambitions are building society resilience, mitigating climate risks, driving affordable insurance with digital solutions, improving data quality and accessibility.
When we started talking with Indonesia Re, we realized there was an immense goal for partnership, which is crucial to raise the accessibility and affordability of insurance cover.
We build digital solutions to penetrate the market better, understand the risks better, and hopefully make the Indonesian insurance industry stronger, more resilient and efficient.
