Indonesia: Analysis of the General Insurance Industry

Indonesia: Analysis of the General Insurance Industry

The general insurance industry in Indonesia witnessed healthy growth in gross premiums at the end of 2010 on account of improving macro-economic conditions and increasing public awareness of insurance benefits. Motor insurance formed the largest segment and its net premiums increased due to significant growth in motor vehicle sales and introduction of new policies. Property Insurance formed the second largest segment. Sharia insurance also experienced positive growth in 2010 due to the implementation of strategic policies and supervision quality improvement by Bapepam-LK.

As of May 2011, there were 87 non-life insurance companies in Indonesia. Some of these are composite companies that also offer life insurance products. The non-life insurance industry is highly fragmented with a number of market players. Astra Buana is the largest motor insurance provider whereas Sinar Mas is the market leader in property insurance. Companies such as Cigna Indonesia, AIA Indonesia and Allianz Indonesia are focusing on direct marketing strategies like telemarketing and online insurance to attract customers.

The present report gives an overview of the Indonesia general (non-life) insurance market along with the analysis of Indonesia’s economic growth. The report provides an insight into the market size and growth in non-life insurance premiums. Each segment of non-life insurance industry along with key statistics and ratios are discussed in detail. The competitive aspect of the market is also highlighted and the key players are profiled with their branding and pricing strategies. A special focus on direct marketing strategies of main P&C players is also discussed in the report.
1. Indonesia: Country Overview

1.1 Background
1.2 Economy
1.3 Automobile Industry
1.4 Tourism Industry

2. General Insurance Industry Scenario

2.1 Gross Written Premiums (GWP)
2.2 Statistics of Non-Life Insurance Industry
2.3 Key Ratios of P&C Insurance Industry
2.4 P&C Insurance Industry by Line of Business
2.5 Key Statistics & Ratios by Line of Business
2.6 Agents & Commissions
2.7 Sharia (Takaful) Insurance

3. Market Segments Analysis

3.1 Motor Insurance
3.2 Property Insurance
3.3 Personal Accident & Health Insurance
3.4 Marine Cargo Insurance

4. P&C Market Players

4.1 Sinar Mas
4.2 Jasa Indonesia
4.3 Astra Buana

5. P&C Market Players - Focus on Direct Marketing

5.1 Cigna Indonesia
5.2 AIA Indonesia
5.3 Allianz Indonesia

6. Mandatory Requirements - General Insurers

List of Graphs and Tables:

Indonesia: Economic Growth (2009-2012F)
Indonesia: Automobile Exports (2005-2010)
Indonesia: Car & Motorcycle Statistics, 2010
Visitors Arrival to Indonesia (2001-2009)
Gross Premiums of Non-Life Insurance Industry (2007-2010)
Key Statistics of Non-Life Insurance Industry in Indonesia (2006-2010)
Key Ratios - Indonesian Non-Life Insurance Fund Business (2006-2009)
P&C Insurance Industry Line of Business (2009)
Key Statistics by Line of Business- Indonesia (2009)
Incurred Loss Ratios of Indonesian Insurance Fund Business by Line in % (2005-2009)
Commission of P&C Industry by Line of Business: (2010)
Gross Contribution of Sharia General Insurance and Reinsurance: (2006-2010)
Net Premiums of Motor Insurance in Indonesia: (2005-2009)
Market Share of Motor Insurers in Indonesia (2009)
Net Premiums of Property Insurance in Indonesia: (2005-2009)
Market Share of Top 5 Property Insurers in Indonesia (2009)
Net Premiums of Personal Accident & Health Insurance in Indonesia: (2005-2009)
Market Share of Top 5 Personal Accident & Health Insurers in Indonesia: (2009)
Net Premiums of Marine Cargo Insurance in Indonesia: (2005-2009)
Market Share of Top 5 Marine Cargo Insurers in Indonesia: (2009)
Direct P&C Insurers Market Share in Indonesia (2010)
Sinar Mas: Products Offered
Gross Premiums of Sinar Mas- Indonesia: (2005-2010)
Jasa Indonesia: Products Portfolio
Gross Premiums of Jasa Indonesia: (2005-2010)
Jasa Indonesia: Corporate Business Segment Portfolio in 2010
Jasa Indonesia: Retail Business Segment Portfolio in 2010
Astra Buana: Products Offered
Gross Premiums of Astra Buana- Indonesia: (2005-2010)
Cigna Indonesia: Products Portfolio
AIA Indonesia: Products Portfolio
Allianz Indonesia: Products Portfolio