- Home
- News & Media
- Detail
JAKARTA – PT Tugu Reasuransi Indonesia (Tugure) actively participated in the 2024 Indonesia Underwriting Summit (IUS), organized by the Indonesian Life Underwriter Association (Peruji). Not only serving as a sponsor, Tugure also played a key role in discussing the ins and outs of Credit Life Insurance (AJK) products, including the challenges of implementing POJK 20/2023, which regulates these products.
Kiki Oditya, Life Group Head at Tugure, was one of the main speakers at IUS 2024, where she discussed the topic of AJK. She highlighted that the management of AJK products currently faces several challenges.
“While the AJK business offers high-profit potential, it also carries significant risk of loss,” said Kiki in her presentation at IUS 2024 in Jakarta on Thursday (August 15, 2024).
Kiki emphasized that as the implementation deadline for POJK 20/2023 approaches, insurance companies must overhaul the governance of AJK products. Key aspects that the insurance industry must address regarding AJK include the role of actuaries, who must provide precise calculations for the entire duration of the policy.
“The role of actuaries is critical in supporting underwriters,” she added.
Kiki also stressed the importance of insurance companies having a clear risk appetite, supported by strong underwriting guidelines that are regularly updated. This is to ensure that underwriters within the company have consistent standards.
“All parties, from management to actuaries and underwriters, must have a unified risk appetite. Underwriters must provide valuable insights to relevant stakeholders,” explained Kiki.
Furthermore, Kiki stated that in order to develop a healthy AJK product, commitment from all stakeholders is necessary, including business sources, brokers, insurers, and reinsurers. According to her, strong synergy among stakeholders is crucial for creating sustainable business practices. She also highlighted the need for improvements in the claims process. She stressed that insurance companies must have efficient and transparent claims systems, from document management to evaluation steps.
“The use of technology in the claims process is crucial to reduce delays and minimize manual errors,” said Kiki.
Drawing from Tugure's experience, Kiki encouraged insurance companies to have investigative capabilities, both through internal and external teams, to prevent fraud.
“This approach has proven effective in reducing claims at Tugure,” she added. Currently, at Tugure, the AJK product is still in the modeling and discussion phase with all business partners to create a product that is beneficial for both Tugure and its partners.
Jakarta - PT Tugu Reasuransi Indonesia (Tugure) has been honored with the Best Reinsurance Award at the Insurance Awa... Read More
Jakarta - PT Tugu Reasuransi Indonesia (Tugure) is proud to announce that its CEO has been awarded the Best CEO 2020 ... Read More
Jakarta - PT Tugu Reasuransi Indonesia (Tugure) has successfully maintained its IFS rating of A+(idn) with a Stable O... Read More
To our esteemed Tugure Business Partners,
In commemorating the 34th Anniversary of PT Tugu... Read More
Jakarta - PT Tugu Reasuransi Indonesia (Tugure) is delighted to announce that it has received an award in the Indones... Read More
Jakarta - PT Tugu Reasuransi Indonesia (Tugure) remains optimistic in facing the insurance and reinsurance market in ... Read More
Link Berita > Read More
Tugure meraih penghargaan Gold Award (excellent) pada “Indonesia Finance Award-IV-2021 (IFA-IV-2021), category ... Read More
Jakarta (ANTARA) – PT Tugu Reasuransi Indonesia (TuguRe) menjalankan sejumlah strategi jitu sehingga mampu memp... Read More
Gelar Kelas Diskusi, Tugure Bahas statistik poperty dan engineering
Read More
Jakarta (ANTARA) – PT Tugu Reasuransi Indonesia (Tugure) menyelenggarakan webinar ... Read More
Dear Business Partner,
In connection with Eid al-Fitr 1 Syawal 1443 H, we hereby notify th... Read More
Fitch Ratings - Jakarta - 30 Nov 2022: Fitch Ratings Indonesia has affirmed PT Tugu Reasuransi Indonesia's (Tugur... Read More
Jakarta – PT Tugu Reasuransi Indonesia (Tugure) posted positive performance throughout 2022 with growing premiu... Read More
Jakarta — Closing 2022, Tugure managed to record positive performance by maintaining Tugure's National Insu... Read More
Jakarta - PT Tugu Reasuransi Indonesia (Tugure) scored a brilliant performance throughout 2022 with a significant inc... Read More
The 2018 Insurance Award, which took place at the Le Meridien Hotel, is a prestigious event in the insurance world or... Read More
Jakarta - The national insurance industry is believed to still have the potential to grow supported by capital c... Read More
PT Tugu Reasuransi Indonesia (Tugure) held a Sharing Session event specifically discussing data center security amid ... Read More
Tangerang — PT Tugu Reasuransi Indonesia (Tugure) distributed Corporate Social Responsibility (CSR) assistance ... Read More
PT Tugu Reasuransi Indonesia (TuguRe) has commenced the transition to implement new reporting standards, namely Inter... Read More
Bali, October 17, 2019 – Tugure took the golden opportunity at the 25th Indonesia Rendezvous event, not only as... Read More
Jakarta - PT Tugu Reasuransi Indonesia (Tugure) achieved impressive performance throughout 2022 with a significantly ... Read More
Jakarta (Men's Obsession) - When Erwin Basri was appointed as the Director of Operations, he immediately faced a ... Read More
Jakarta (Obsession News) - Erwin Basri's name is well-known in the insurance business world. His career journey i... Read More
BANYUWANGI - Several business classes of liability insurance are predicted to still have potential growth in 2023. Th... Read More
JAKARTA - The reinsurance industry, both globally and nationally, is expected to remain quite challenging in 2024. Read More
JAKARTA - The global and national reinsurance industry is expected to continue facing challenges in the form of a har... Read More
Bali – PT Tugu Reasuransi Indonesia (Tugure) has reaffirmed its support for the 27th Indonesia Rendezvous ... Read More
Bali - PT Tugu Reasuransi Indonesia (Tugure) is committed to integrating sustainable practices into all of its operat... Read More
JAKARTA – PT Tugu Reasuransi Indonesia (Tugure) has achieved impressive performance throughout 2023. These posi... Read More
Jakarta - PT Tugu Reasuransi Indonesia (Tugure) has been awarded The Best Performing Reinsurance 2023 Based on Financ... Read More
Jakarta - Reinsurance company PT Tugu Reasuransi Indonesia (Tugure) has successfully maintained its national rating o... Read More
Hong Kong – In an effort to improve employee competencies in both soft and hard skills, PT Tugu Reasuransi Indo... Read More
Jakarta — The insurance business lines, both in energy and casualty globally, are still facing the trend o... Read More
Jakarta — The increase or inflation of medical costs in Indonesia is considered a challenge for health insuranc... Read More
Dear Business Partners,
In connection with the Eid al-Fitr 1 Shawwal 1445 H, we hereby inform you that our ... Read More
Jakarta – As part of PT Tugu Reasuransi Indonesia’s (Tugure) commitment to continuously transfer knowledg... Read More
Jakarta – PT Tugu Reasuransi Indonesia (Tugure) has achieved impressive performance throughout the first half o... Read More
JAKARTA – PT Tugu Reasuransi Indonesia (Tugure) actively participated in the 2024 Indonesia Underwriting Summit... Read More
BALI – The 28th edition of Indonesia Rendezvous, initiated by the Indonesian General Insurance Association (AAU... Read More
JAKARTA – PT Tugu Reasuransi Indonesia (Tugure) has once again demonstrated its remarkable achievements by rece... Read More