PRESENTATION: The Indonesian National Health Insurance Reform
INDONESIAN INSURANCE MARKET - OECD. · PDF fileInformation Technology Bureau Other Bureaus ......
Transcript of INDONESIAN INSURANCE MARKET - OECD. · PDF fileInformation Technology Bureau Other Bureaus ......
![Page 1: INDONESIAN INSURANCE MARKET - OECD. · PDF fileInformation Technology Bureau Other Bureaus ... All Industry 48,137.13 55,605.25 77,831.57 89,474.01 ... Overview of Indonesian Insurance](https://reader031.fdocuments.net/reader031/viewer/2022022419/5a78bb727f8b9a21538c945c/html5/thumbnails/1.jpg)
BAPEPAM-LK
![Page 2: INDONESIAN INSURANCE MARKET - OECD. · PDF fileInformation Technology Bureau Other Bureaus ... All Industry 48,137.13 55,605.25 77,831.57 89,474.01 ... Overview of Indonesian Insurance](https://reader031.fdocuments.net/reader031/viewer/2022022419/5a78bb727f8b9a21538c945c/html5/thumbnails/2.jpg)
BAPEPAM-LK
Ministry of Finance
Capital Market and Financial Institutions Supervisory Agency
Other Bureaus
Insurance Bureau
Research and Information Technology
Bureau
Other Bureaus
Other Bureaus
Other Echelon I unit Other Directorat General/Agency
![Page 3: INDONESIAN INSURANCE MARKET - OECD. · PDF fileInformation Technology Bureau Other Bureaus ... All Industry 48,137.13 55,605.25 77,831.57 89,474.01 ... Overview of Indonesian Insurance](https://reader031.fdocuments.net/reader031/viewer/2022022419/5a78bb727f8b9a21538c945c/html5/thumbnails/3.jpg)
Overview of Indonesian Insurance Market
Market Monitoring
Information Gathering
Initiatives Enhancing Transparency
BAPEPAM-LK
![Page 4: INDONESIAN INSURANCE MARKET - OECD. · PDF fileInformation Technology Bureau Other Bureaus ... All Industry 48,137.13 55,605.25 77,831.57 89,474.01 ... Overview of Indonesian Insurance](https://reader031.fdocuments.net/reader031/viewer/2022022419/5a78bb727f8b9a21538c945c/html5/thumbnails/4.jpg)
Overview of Indonesian Insurance Market
Market Monitoring
Information Gathering
Initiatives Enhancing Transparency
BAPEPAM-LK
![Page 5: INDONESIAN INSURANCE MARKET - OECD. · PDF fileInformation Technology Bureau Other Bureaus ... All Industry 48,137.13 55,605.25 77,831.57 89,474.01 ... Overview of Indonesian Insurance](https://reader031.fdocuments.net/reader031/viewer/2022022419/5a78bb727f8b9a21538c945c/html5/thumbnails/5.jpg)
BAPEPAM-LK
![Page 6: INDONESIAN INSURANCE MARKET - OECD. · PDF fileInformation Technology Bureau Other Bureaus ... All Industry 48,137.13 55,605.25 77,831.57 89,474.01 ... Overview of Indonesian Insurance](https://reader031.fdocuments.net/reader031/viewer/2022022419/5a78bb727f8b9a21538c945c/html5/thumbnails/6.jpg)
BAPEPAM-LK
![Page 7: INDONESIAN INSURANCE MARKET - OECD. · PDF fileInformation Technology Bureau Other Bureaus ... All Industry 48,137.13 55,605.25 77,831.57 89,474.01 ... Overview of Indonesian Insurance](https://reader031.fdocuments.net/reader031/viewer/2022022419/5a78bb727f8b9a21538c945c/html5/thumbnails/7.jpg)
(Bill ion Rp)
2005 2006 2007 2008 2009 2010*
Life 22,294.00 27,498.30 45,581.30 50,370.02 61,725.47 77,676.30
Growth-Life 23% 66% 11% 23% 26%
Non Life ** 18,857.33 19,811.55 22,115.39 26,096.09 28,809.87 35,065.14
Growth-Non Life 5% 12% 18% 10% 22%
Social 2,379.80 2,653.30 3,016.58 4,340.31 5,108.13 5,339.90
Growth-Social 11% 14% 44% 18% 5%
Civil Servants, Armed Force, Police 4,606.00 5,642.10 7,118.30 8,667.59 13,744.39 15,420.82
Growth Civil Servants, Armed Forces, Police 22% 26% 22% 59% 12%
All Industry 48,137.13 55,605.25 77,831.57 89,474.01 109,387.87 133,502.16
Growth-Industry 16% 40% 15% 22% 17%
** : Including reinsurance bussiness
Note:
* : Unaudited
BAPEPAM-LK
![Page 8: INDONESIAN INSURANCE MARKET - OECD. · PDF fileInformation Technology Bureau Other Bureaus ... All Industry 48,137.13 55,605.25 77,831.57 89,474.01 ... Overview of Indonesian Insurance](https://reader031.fdocuments.net/reader031/viewer/2022022419/5a78bb727f8b9a21538c945c/html5/thumbnails/8.jpg)
2005 2006 2007 2008 2009 2010*
Life 53,940.33 71,034.08 102,137.21 102,404.71 141,646.23 183,090.73
Growth-Life 32% 44% 0.3% 38% 29%
Non Life ** 22,401.44 24,982.33 29,788.25 34,790.47 40,163.64 47,930.74
Growth Non-Life 12% 19% 17% 15% 19%
Social 40,240.00 51,546.80 63,598.20 66,606.70 87,490.74 107,231.34
Growth-Social 28% 23% 5% 31% 23%
Civil Servants, Armed Force, Police 20,313.60 27,371.00 33,304.90 39,777.49 51,791.78 61,438.83
Growth Civil Servants, Armed Forces, Police 35% 22% 19% 30% 19%
All Industry 136,895.37 174,934.93 228,829.42 243,579.58 321,092.38 399,691.65
Growth-Industry 28% 31% 6% 32% 24%
Note:
* : Unaudited
** : Including reinsurance bussiness
(Bi l l ion Rp)
BAPEPAM-LK
![Page 9: INDONESIAN INSURANCE MARKET - OECD. · PDF fileInformation Technology Bureau Other Bureaus ... All Industry 48,137.13 55,605.25 77,831.57 89,474.01 ... Overview of Indonesian Insurance](https://reader031.fdocuments.net/reader031/viewer/2022022419/5a78bb727f8b9a21538c945c/html5/thumbnails/9.jpg)
(Bi l l ion Rp)
2006 2007 2008 2009 2010*
Life 62,210.06 91,728.95 90,688.14 128,298.83 168,020.21
Growth-Life 37% 47% -1% 41% 31%
Non Life ** 17,101.22 20,039.23 23,926.36 28,695.19 34,722.19
Growth Non-Life 14% 17% 19% 20% 21%
Social 50,187.60 62,039.60 64,181.45 84,355.62 103,784.25
Growth-Social 28% 24% 3% 31% 23%
Civil Servants, Armed Force, Police 23,439.70 28,419.90 32,670.93 41,869.13 49,782.77
Growth Civil Servants, Armed Forces, Police 21% 21% 15% 28% 19%
All Industry 152,939.37 202,228.56 211,467.09 283,219.70 356,309.41
Growth-Industry 29% 32% 5% 34% 26%
Note:
* : Unaudited
** : Including reinsurance bussiness
BAPEPAM-LK
![Page 10: INDONESIAN INSURANCE MARKET - OECD. · PDF fileInformation Technology Bureau Other Bureaus ... All Industry 48,137.13 55,605.25 77,831.57 89,474.01 ... Overview of Indonesian Insurance](https://reader031.fdocuments.net/reader031/viewer/2022022419/5a78bb727f8b9a21538c945c/html5/thumbnails/10.jpg)
2005 2006 2007 2008 2009 2010*
GDP (Billion Rupiah) 2,774,280.00 3,339,479.00 3,957,403.00 4,954,000.00 5,581,900.00 6,422,900.00
Gross Premium (Billion Rupiah) 48,137.13 55,605.25 77,831.57 89,474.01 109,387.87 133,530.37
Population (million) 220 223 226 229 231 238
Penetration = Gross Premium/GDP
Density = Gross Premium/Population
Notes:
*) Gross Premium unaudited
BAPEPAM-LK
![Page 11: INDONESIAN INSURANCE MARKET - OECD. · PDF fileInformation Technology Bureau Other Bureaus ... All Industry 48,137.13 55,605.25 77,831.57 89,474.01 ... Overview of Indonesian Insurance](https://reader031.fdocuments.net/reader031/viewer/2022022419/5a78bb727f8b9a21538c945c/html5/thumbnails/11.jpg)
Overview of Indonesian Insurance Market
Market Monitoring
Information Gathering
Initiatives Enhancing transparency
BAPEPAM-LK
![Page 12: INDONESIAN INSURANCE MARKET - OECD. · PDF fileInformation Technology Bureau Other Bureaus ... All Industry 48,137.13 55,605.25 77,831.57 89,474.01 ... Overview of Indonesian Insurance](https://reader031.fdocuments.net/reader031/viewer/2022022419/5a78bb727f8b9a21538c945c/html5/thumbnails/12.jpg)
Reporting Entity
Type of Report Frequency
Quarterly Half Yearly Yearly
Insurer RBC Report Audited Financial Report Operational Report Reinsurance Treaty
Reports Motor vehicle risk and loss
profile report*
√ - √ - -
- - - - -
√ √ √ √ √
Reinsurer
RBC Report Audited Financial Report Operational Report Reinsurance Treaty
Reports
√ - √ -
- - - -
√ √ √ √
* Only for non-life insurance
Method of Submission : Hard copy dan CD
BAPEPAM-LK
![Page 13: INDONESIAN INSURANCE MARKET - OECD. · PDF fileInformation Technology Bureau Other Bureaus ... All Industry 48,137.13 55,605.25 77,831.57 89,474.01 ... Overview of Indonesian Insurance](https://reader031.fdocuments.net/reader031/viewer/2022022419/5a78bb727f8b9a21538c945c/html5/thumbnails/13.jpg)
Reporting Entity Type of Report Frequency
Half Yearly Yearly
Insurance and Reinsurance Broker
Financial Statement Audited Financial
Report Operational Report
√ - -
√ √ √
Insurance Agent
Operational Report -
√
Actuarial Consultant Operational Report -
√
Loss Adjuster Operational Report - √
* Method of submission : Hard copy and CD
BAPEPAM-LK
![Page 14: INDONESIAN INSURANCE MARKET - OECD. · PDF fileInformation Technology Bureau Other Bureaus ... All Industry 48,137.13 55,605.25 77,831.57 89,474.01 ... Overview of Indonesian Insurance](https://reader031.fdocuments.net/reader031/viewer/2022022419/5a78bb727f8b9a21538c945c/html5/thumbnails/14.jpg)
Balance sheet Income statement Solvency
Admitted Asset Liabilities Amount of solvency
Minimum Solvency Margin Other Financial Information:
Mandatory Guarantee Fund Ratio on Investment to technical reserve and net incurred claim Liquidity ratio Ratio on net written premium to equity Ratio on direct premium to non direct premium Ratio on expense to net premium income
Shareholders (ownership) Name of Board of Director Member and Board of Commissioner Member Name of Main Reinsurers
BAPEPAM-LK
![Page 15: INDONESIAN INSURANCE MARKET - OECD. · PDF fileInformation Technology Bureau Other Bureaus ... All Industry 48,137.13 55,605.25 77,831.57 89,474.01 ... Overview of Indonesian Insurance](https://reader031.fdocuments.net/reader031/viewer/2022022419/5a78bb727f8b9a21538c945c/html5/thumbnails/15.jpg)
Statistics
Insurance Companies
Regular Filing
Special Report
• Data verification-manual • Data up load-by system
Central Database
BAPEPAM-LK
Out Put
Off-site monitoring and On-site Examination
Industry reference
Purposes
![Page 16: INDONESIAN INSURANCE MARKET - OECD. · PDF fileInformation Technology Bureau Other Bureaus ... All Industry 48,137.13 55,605.25 77,831.57 89,474.01 ... Overview of Indonesian Insurance](https://reader031.fdocuments.net/reader031/viewer/2022022419/5a78bb727f8b9a21538c945c/html5/thumbnails/16.jpg)
Overview of Indonesian Insurance Market
Market Monitoring
Information Gathering
Initiatives Enhancing Transparency
BAPEPAM-LK
![Page 17: INDONESIAN INSURANCE MARKET - OECD. · PDF fileInformation Technology Bureau Other Bureaus ... All Industry 48,137.13 55,605.25 77,831.57 89,474.01 ... Overview of Indonesian Insurance](https://reader031.fdocuments.net/reader031/viewer/2022022419/5a78bb727f8b9a21538c945c/html5/thumbnails/17.jpg)
Off site monitoring and on site supervision Financial Condition (RBC level) Analysis
Early Warning Ratio
Market Sensitivity Test Result
Actuarial Projection
Statistics Company profile
Numbers of supervised entity
Total Assets, Liabilities, and Equities of Insurance/Re Co.
Overall investment portfolio
Insurance Density and Penetration
Overall Composition of Business
Overall Loss Ratio
Industry Reference Automobile advisory premium rate
BAPEPAM-LK
![Page 18: INDONESIAN INSURANCE MARKET - OECD. · PDF fileInformation Technology Bureau Other Bureaus ... All Industry 48,137.13 55,605.25 77,831.57 89,474.01 ... Overview of Indonesian Insurance](https://reader031.fdocuments.net/reader031/viewer/2022022419/5a78bb727f8b9a21538c945c/html5/thumbnails/18.jpg)
Overview of Indonesian Insurance Market
Market Monitoring
Information Gathering
Initiatives Enhancing Transparency
BAPEPAM-LK
![Page 19: INDONESIAN INSURANCE MARKET - OECD. · PDF fileInformation Technology Bureau Other Bureaus ... All Industry 48,137.13 55,605.25 77,831.57 89,474.01 ... Overview of Indonesian Insurance](https://reader031.fdocuments.net/reader031/viewer/2022022419/5a78bb727f8b9a21538c945c/html5/thumbnails/19.jpg)
BAPEPAM-LK
a. Accuracy and Integrity • Cross report inconsistencies
• Mistakes on mathematical calculation
b. Relevance Too general operational data
c. Some data not available • Market segmentation
• Geographical distribution
• Number of policies issued for general insurance
• Number of insured
d. Timeliness • Annual statistics issued at October
• Quarterly report issued 45 days after the end of quarter filings
![Page 20: INDONESIAN INSURANCE MARKET - OECD. · PDF fileInformation Technology Bureau Other Bureaus ... All Industry 48,137.13 55,605.25 77,831.57 89,474.01 ... Overview of Indonesian Insurance](https://reader031.fdocuments.net/reader031/viewer/2022022419/5a78bb727f8b9a21538c945c/html5/thumbnails/20.jpg)
Reidentification of Data Needs : Develop New Report Forms
Redesign Filing Procedures :
* Develop E-Reporting application
* Prepare regulation for E-Reporting implementation
BAPEPAM-LK
![Page 21: INDONESIAN INSURANCE MARKET - OECD. · PDF fileInformation Technology Bureau Other Bureaus ... All Industry 48,137.13 55,605.25 77,831.57 89,474.01 ... Overview of Indonesian Insurance](https://reader031.fdocuments.net/reader031/viewer/2022022419/5a78bb727f8b9a21538c945c/html5/thumbnails/21.jpg)
BAPEPAM-LK