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Insurance agents remain crucial to lure more policy holders
At present, there were over 585,000 insurance agents in Indonesia, according to the AAJI. The figure is inadequate because Indonesia has a population of around 265 million people.
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Insurer PT AIA Financial chief marketing officer Lim Chet Ming (right) and fashion designer Sebastian Gunawan at the launch of specially designed envelopes for the commemoration of Chinese New Year in February. (The Jakarta Post/Dhoni Setiawan)
Insurance companies are looking to their agents to sell more policies to Indonesians.
“Insurance agents still make a huge contribution to insurance companies’ premium income,” Indonesian Life Insurance Association (AAJI) executive director Togar Pasaribu said.
According to the AAJI’s unaudited data, insurance agents contributed 39.5 percent to total premium income last year, a 0.9 percent year-on-year (yoy) increase from the previous year.
“We expect to see 1 million insurance agents in Indonesia in the long run,” Togar said.
At present, there were over 585,000 insurance agents in Indonesia, according to the AAJI. The figure is inadequate because Indonesia has a population of around 265 million people.
Private life insurance firm AIA Financial (AIA) agency director Ang Tiam Kit said the low number of agents was one of the main reasons for Indonesia’s low insurance penetration.
The Indonesian Insurance Council previously said only 1.7 percent of Indonesians have some form of insurance.
