Bancassurance, an insurance product sold in cooperation with banks, was the largest contributor, accounting for 40.4 percent with insurance agents accounting for 38.3 percent of the total premium income, the Association of Indonesian Life Insurance Firms (AAJI) Chairman Hendrisman Rahim told reporters here on Friday.
Direct marketing/telemarketing also had significant contribution accounting for 8.5 percent of the premium income with other marketing systems accounting for 12.8 percent, he said.
New premiums totaled Rp75.01 trillion in 2012, up from Rp67.40 trillion in the previous year, with the rest in premiums from old policyholders, he said.
He said unit link, which is an investment based product, accounted for 62 percent of premiums from old policy holders.
Claims paid by AAJI members reached an aggregate of Rp64.02 trillion in 2012, up 15.96 percent from Rp55.21 trillion in 2011.
He said there are around 43 million holders of life insurance policy in the country.(*)
Editor: Heru Purwanto
Copyright © ANTARA 2013
