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Jakarta Post

Pandemic shows urgent need for insurance

  • Yunindita Prasidya


Jakarta   /   Tue, June 30 2020   /  01:00 am
Insurance talks: Joss Louwerier, country manager and president director of Allianz Life (third from top), talks during the Jakpost Up Close Series 3 webinar titled “How to navigate insurance during a pandemic” in Jakarta on Monday. Ahmad Nasrullah of the Financial Services Authority (second from top), Allianz Life Indonesia chief of marketing Karin Zulkarnaen and financial adviser Philip Mulyana attended the event, which was moderated by Vela Andapita (top) of The Jakarta Post.(The Jakarta Post/Dhoni Setiawan)

Indonesians have become more interested in insurance to mitigate uncertainty regarding their health and personal finances brought about by the pandemic, yet insurance penetration is still low in Southeast Asia’s biggest economy, financial planners and insurers have said.  For “Mika” a 25-year-old marketing officer, allocating part of their monthly income for insurance premiums is a problem as the monthly cost of food alone amounts to Rp 6.5 million (US$455), Mika told The Jakarta Post.  “This is [the same for] everyone, basically,” Philip Mulyana, an independent financial adviser, said during the Post’s Jakpost Up Close webinar series titled “How to navigate insurance during a pandemic” on Monday.  “With the current COVID-19 situation, we can all agree that everything can change in the blink of an eye. If you w...