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Jakarta Post

Private insurers unfazed by insurance scandals despite trust concerns

  • Made Anthony Iswara
    Made Anthony Iswara

    The Jakarta Post

Jakarta   /   Fri, January 31, 2020   /  02:02 pm
The Jakarta Post Image
Pedestrians walk in front of the Jiwasraya Building in Jakarta on Jan. 15. (JP/Wendra Ajistyatama)

Private insurers have brushed off concerns that scandals involving state-owned insurance companies have hurt the industry as the sector continues to grow despite being clouded by trust issues. Adira Insurance chief executive officer (CEO) Julian Noor said the company still experienced a premium collection growth of about 8 percent year-on-year (yoy) in 2019 despite controversies surrounding state insurer Asuransi Jiwasraya. “This is because the problem is in a state-owned insurer while private ones face no problems. Thus, the public will be smart enough not to generalize and it will be an opportunity for private insurers to offer even better services right now to their customers,” Julian said. Read also: Relaxed foreign ownership rule for insurers could save Jiwasraya: Experts Julian’s statement contradicted high-ranking officials who have expressed concern ...