TheJakartaPost

Please Update your browser

Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.

Jakarta Post

Private insurers unfazed by insurance scandals despite trust concerns

  • Made Anthony Iswara
    Made Anthony Iswara

    The Jakarta Post

PREMIUM
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 ...