Supporting the Insurance Industry Readiness in Facing EV Risks, Tugure Holds Sharing Session

Seoul, August 19th, 2025 – PT Tugu Reasuransi Indonesia (Tugure), through Tugure Academy, once again held an international Sharing Session—this time in Korea, following previous successful sessions in Thailand and Japan. The event, which involved 21 business partners, carried the theme “Charging The Future: Managing Risks in the EV Industry” as a manifestation of Tugure’s commitment to supporting the transformation of the insurance industry in line with advancements in technology and renewable energy.

In his opening remarks, Tugure’s Finance Director, Dradjat Irwansyah, expressed appreciation to business partners for their consistent support of the Sharing Session. He emphasized that this forum serves as a collaborative discussion platform, not only for the general insurance segment but also for life insurance.

Furthermore, Dradjat highlighted the establishment of the Operation Support Department (OSD) as Tugure’s strategic step to enhance services tailored to partner needs. OSD is a newly formed unit focused on improving the accuracy of premium and claims data. It functions to conduct periodic reconciliations, monitor SLA acceptance, and oversee claim aging to ensure faster and more transparent settlements.

“With OSD, reconciliations are conducted from the outset, making the claims process easier and more measurable, ensuring liquidity remains strong, and financial reporting under IFRS 17 becomes more accurate,” he explained.

In the main session, Tugure’s Property & Engineering Group Head, Aries Karyadi, presented various risks associated with the growth of the Electric Vehicle (EV) industry. He stressed that the global push through the Paris Agreement 2018 and the Indonesian government’s incentives for the EV industry bring major challenges, particularly concerning lithium batteries as the core component.

Aries outlined risks such as overcharging, overheating, thermal runaway, and battery fires that are difficult to extinguish with conventional methods.

“More than 50% of an EV’s value lies in its battery. A single damaged cell can be fatal. Therefore, these factors must be given special attention in both policy drafting and risk surveys,” he emphasized.

He also addressed risks in the EV logistics chain, including the need for third-party loss insurance during transportation, such as with RORO vessels. He underlined the importance of adjusting premiums according to risk levels and providing additional protection where needed.

“The insurance industry plays a crucial role in supporting the energy transition, including through risk education on green energy and the implementation of strict mitigation standards,” he added.

Closing the session, Tugure’s Technical Director, R. Djoko Slamet Prasetiyo, stressed the importance of close collaboration among industry players and regulators to achieve win-win solutions in managing EV risks.

“The EV phenomenon is both an opportunity and a challenge. Tugure is here to ensure that Indonesia’s insurance industry does not miss the momentum, learning from EV-producing countries such as Korea, and preparing the right mitigation strategies,” he concluded.

Through this Sharing Session, Tugure reaffirmed its role as a reinsurance company that not only provides protection capacity but also actively delivers insights, education, and innovative solutions for the insurance industry amid the ongoing transformation in energy and technology.