Synopsis
Timetrics Personal Accident and Health Insurance in the Indonesia, Key Trends and Opportunities to 2019 report provides detailed analysis of the market trends, drivers, challenges in the Indonesian personal accident and health insurance segment.
It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions during the review period (2010-2014) and forecast period (2014-2019).
The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of Indonesias economy and demographics, and provides detailed information on the competitive landscape in the country.
The report brings together Timetrics research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in regulatory structure.
Scope
This report provides a comprehensive analysis of the personal accident and health insurance segment in Indonesia:
It provides historical values for the Indonesian personal accident and health insurance segment for the reports 2010-2014 review period, and projected figures for the 2014-2019 forecast period.
It offers a detailed analysis of the key categories in the Indonesian personal accident and health insurance segment, and market forecasts to 2019.
It profiles the top personal accident and health insurance companies in Indonesia, and outlines the key regulations affecting them.
Summary
Timetrics Personal Accident and Health Insurance in the Indonesia, Key Trends and Opportunities to 2019 report provides in-depth market analysis, information and insights into the Indonesian personal accident and health insurance segment, including:
The Indonesian personal accident and health insurance segments growth prospects by insurance category
Key trends, drivers and challenges for the personal accident and health insurance segment
A comprehensive overview of Indonesias economy and demographics
Details of the competitive landscape in the personal accident and health insurance segment in Indonesia
Details of regulatory policy applicable to the Indonesian insurance industry
Reasons To Buy
Make strategic business decisions using in-depth historic and forecast market data related to the Indonesian personal accident and health insurance segment and each category within it.
Understand the demand-side dynamics, key market trends and growth opportunities in the Indonesian personal accident and health insurance segment.
Assess the competitive dynamics in the personal accident and health insurance segment.
Identify growth opportunities and market dynamics in key product categories.
Gain insights into key regulations governing the Indonesian insurance industry, and their impact on companies and the industrys future.
Key highlights
The Indonesian personal accident and health segments share of the overall gross written premium was the smallest during the review period.
The Indonesian insurance industry underwent a series of regulatory changes during the review period.
The Social Security Management Agency (Badan Penyelenggara Jaminan Sosial Kesehatan - BPJS) has signed a co-ordination of benefits agreement with private insurers to provide health insurance.
With Indonesia having the worlds second-largest population at 1.27 billion and with low personal accident and health insurance penetration at 0.2%, growth potential in the health insurance category over the forecast period is positive.
Personal accident and health insurances penetration rate was a low 0.16% in 2014, indicating a large uninsured population with significant growth potential for insurers.
Health insurance, which accounted for 98.2% of the segments gross written premium in 2014, is expected to be the leading category over the forecast period, despite the governments implementation of National Health Insurance system for every individual in the country by 2019.
Table Of Contents
1 Key Facts and Highlights
2 Executive Summary
3 Introduction
3.1 What is this Report About?
3.2 Definitions
3.3 Methodology
4 Economy and Demographics
5 Personal Accident and Health Insurance Outlook
5.1 Key Drivers
5.2 Key Trends
5.3 Challenges
5.4 Personal Accident and Health Insurance Growth Prospects by Category
5.4.1 Personal accident insurance
5.4.2 Health insurance
5.4.3 Non-life health insurance
5.4.4 Life health insurance
6 Competitive Landscape and Strategic Insights
6.1 Overview
6.2 Leading Companies in the Indonesian Personal Accident and Health Insurance Segment
6.2.1 PT Prudential Life Assurance - company overview
6.2.2 PT Asuransi Jiwa InHealth Indonesia - company overview
6.2.3 PT Asuransi Sinar Mas - company overview
6.2.4 PT Axa Mandiri Financial Services - company overview
6.2.5 PT Asuransi Allianz Life Indonesia - company overview
6.2.6 PT Asuransi Jiwa Manulife Indonesia - company overview
6.2.7 PT Asuransi Aviva Indonesia - company overview
6.2.8 PT Asuransi Allianz Life Indonesia - company overview
6.2.9 Asuransi Bangun Askrida - company overview
6.2.10 PT Asuransi Cigna - company overview
7 Governance, Risk and Compliance
7.1 Legislation Overview and Historical Evolution
7.2 Latest Changes in Regulations
7.3 Legislation and Market Practice by Type of Insurance
7.3.1 Life insurance
7.3.2 Property insurance
7.3.3 Motor insurance
7.3.4 Liability insurance
7.3.5 Marine, aviation and transit insurance
7.3.6 Personal accident and health insurance
7.4 Compulsory Insurance
7.4.1 Workmen compensation insurance
7.5 Supervision and Control
7.5.1 International Association of Insurance Supervisors
7.5.2 Financial Services Authority (OJK)
7.5.3 The General Insurance Association of Indonesia (Asosiasi Asuransi Umum Indonesia - AAUI)
7.6 Non-Admitted Insurance Regulations
7.6.1 Overview
7.6.2 Intermediaries
7.6.3 Market practices
7.6.4 Fines and penalties
7.7 Company Registration and Operations
7.7.1 Types of insurance organization
7.7.2 Establishing a local company
7.7.3 Foreign ownership
7.7.4 Types of license
7.7.5 Capital requirements
7.7.6 Solvency margins
7.7.7 Reserve requirements
7.7.8 Investment regulations
7.7.9 Statutory return requirements
7.7.10 Fee structure
7.8 Taxation
7.8.1 Insurance premium or policy taxation
7.8.2 Withholding taxes on premium paid overseas
7.8.3 Corporate tax
7.8.4 VAT
7.8.5 Captives
7.9 Legal System
7.9.1 Introduction
7.9.2 Access to court
7.9.3 Alternative dispute resolution (ADR)
8 Appendix
8.1 Methodology
8.2 Contact Timetric
8.3 About Timetric
8.4 Timetrics Services
8.5 Disclaimer
List Of Tables
Table 1: Indonesian Life Insurance - Key Facts, 2014
Table 2: Insurance Industry Definitions
Table 3: Indonesian Government Credit Ratings
Table 4: Indonesian Personal Accident and Health Insurance - Gross Written Premium by Category (IDR Billion), 2010-2014
Table 5: Indonesian Personal Accident and Health Insurance - Gross Written Premium by Category (US$ Million), 2010-2014
Table 6: Indonesian Personal Accident and Health Insurance - Gross Written Premium by Category (IDR Billion), 2014-2019
Table 7: Indonesian Personal Accident and Health Insurance - Gross Written Premium by Category (US$ Million), 2014-2019
Table 8: Indonesian Personal Accident and Health Insurance - Direct Written Premium by Category (IDR Billion), 2010-2014
Table 9: Indonesian Personal Accident and Health Insurance - Direct Written Premium by Category (US$ Million), 2010-2014
Table 10: Indonesian Personal Accident and Health Insurance - Direct Written Premium by Category (IDR Billion), 2014-2019
Table 11: Indonesian Personal Accident and Health Insurance - Direct Written Premium by Category (US$ Million), 2014-2019
Table 12: Indonesian Personal Accident and Health Insurance - Net Earned Premium (IDR Billion), 2010-2014
Table 13: Indonesian Personal Accident and Health Insurance - Net Earned Premium (IDR Billion), 2014-2019
Table 14: Indonesian Personal Accident and Health Insurance - Paid Claims by Category (IDR Billion), 2010-2014
Table 15: Indonesian Personal Accident and Health Insurance - Paid Claims by Category (US$ Million), 2010-2014
Table 16: Indonesian Personal Accident and Health Insurance - Paid Claims by Category (IDR Billion), 2014-2019
Table 17: Indonesian Personal Accident and Health Insurance - Paid Claims by Category (US$ Million), 2014-2019
Table 18: Indonesian Personal Accident and Health Insurance - Incurred Loss by Category (IDR Billion), 2010-2014
Table 19: Indonesian Personal Accident and Health Insurance - Incurred Loss by Category (US$ Million), 2010-2014
Table 20: Indonesian Personal Accident and Health Insurance - Incurred Loss by Category (IDR Billion), 2014-2019
Table 21: Indonesian Personal Accident and Health Insurance - Incurred Loss by Category (US$ Million), 2014-2019
Table 22: Indonesian Personal Accident and Health Insurance - Net Written Premium by Category (IDR Billion), 2010-2014
Table 23: Indonesian Personal Accident and Health Insurance - Net Written Premium by Category (US$ Million), 2010-2014
Table 24: Indonesian Personal Accident and Health Insurance - Net Written Premium by Category (IDR Billion), 2014-2019
Table 25: Indonesian Personal Accident and Health Insurance - Net Written Premium by Category (US$ Million), 2014-2019
Table 26: Indonesian Personal Accident and Health Insurance - Loss Ratio (%), 2010-2014
Table 27: Indonesian Personal Accident and Health Insurance - Loss Ratio (%), 2014-2019
Table 28: Indonesian Personal Accident and Health Insurance - Commission and Expenses (IDR Billion), 2010-2014
Table 29: Indonesian Personal Accident and Health Insurance - Commission and Expenses (IDR Billion), 2014-2019
Table 30: Indonesian Personal Accident and Health Insurance - Combined Ratio (%), 2010-2014
Table 31: Indonesian Personal Accident and Health Insurance - Combined Ratio (%), 2014-2019
Table 32: Indonesian Personal Accident and Health Insurance - Total Assets (IDR Trillion), 2010-2014
Table 33: Indonesian Personal Accident and Health Insurance - Total Assets (IDR Trillion), 2014-2019
Table 34: Indonesian Personal Accident and Health Insurance - Total Investment Income (IDR Billion), 2010-2014
Table 35: Indonesian Personal Accident and Health Insurance - Total Investment Income (IDR Billion), 2014-2019
Table 36: Indonesian Personal Accident and Health Insurance - Net Written Premium (% of GWP), 2010-2014
Table 37: Indonesian Personal Accident and Health Insurance - Net Written Premium (% of GWP), 2014-2019
Table 38: Indonesian Personal Accident Insurance - Direct Written Premium (IDR Billion), 2010-2014
Table 39: Indonesian Personal Accident Insurance - Direct Written Premium (IDR Billion), 2014-2019
Table 40: Indonesian Personal Accident Insurance - Loss Ratio (%), 2010-2014
Table 41: Indonesian Personal Accident Insurance - Loss Ratio (%), 2014-2019
Table 42: Indonesian Health Insurance - Gross Written Premium by Sub-Category (IDR Billion), 2010-2014
Table 43: Indonesian Health Insurance - Gross Written Premium by Sub-Category (US$ Million), 2010-2014
Table 44: Indonesian Health Insurance - Gross Written Premium by Sub-Category (IDR Billion), 2014-2019
Table 45: Indonesian Health Insurance - Gross Written Premium by Sub-Category (US$ Million), 2014-2019
Table 46: Indonesian Non-Life Health Insurance - Direct Written Premium (IDR Billion), 2010-2014
Table 47: Indonesian Non-Life Health Insurance - Direct Written Premium (IDR Billion), 2014-2019
Table 48: Indonesian Non-Life Health Insurance - Paid Claim (IDR Billion), 2010-2014
Table 49: Indonesian Non-Life Health Insurance - Paid Claim (IDR Billion), 2014-2019
Table 50: Indonesian Non-Life Health Insurance - Loss Ratio (%), 2010-2014
Table 51: Indonesian Non-Life Health Insurance - Loss Ratio (%), 2014-2019
Table 52: Indonesian Non-Life Health Insurance - Net Written Premium (IDR Billion), 2010-2014
Table 53: Indonesian Non-Life Health Insurance - Net Written Premium (IDR Billion), 2014-2019
Table 54: Indonesian Life Health Insurance - Direct Written Premium (IDR Billion), 2010-2014
Table 55: Indonesian Life Health Insurance - Direct Written Premium (IDR Billion), 2014-2019
Table 56: Indonesian Life Health Insurance - Paid Claim (IDR Billion), 2010-2014
Table 57: Indonesian Life Health Insurance - Paid Claim (IDR Billion), 2014-2019
Table 58: Indonesian Life Health Insurance - Loss Ratio (%), 2010-2014
Table 59: Indonesian Life Health Insurance - Loss Ratio (%), 2014-2019
Table 60: Indonesian Life Health Insurance - Net Written Premium (IDR Billion), 2010-2014
Table 61: Indonesian Life Health Insurance - Net Written Premium (IDR Billion), 2014-2019
Table 62: Indonesian Personal Accident and Health Insurance - Segment Shares (%), 2013
Table 63: PT Prudential Life Assurance, Key Facts
Table 64: PT Asuransi Jiwa InHealth Indonesia, Key Facts
Table 65: PT Asuransi Sinar Mas, Key Facts
Table 66: PT Axa Mandiri Financial Services, Key Facts
Table 67: PT Asuransi Allianz Life Indonesia, Key Facts
Table 68: PT Asuransi Jiwa Manulife Indonesia, Key Facts
Table 69: PT Asuransi Aviva Indonesia, Key Facts
Table 70: PT Lippo General Insurance Tbk, Key Facts
Table 71: PT Asuransi Bangun Askrida, Key Facts
Table 72: PT Asuransi Cigna, Key Facts
Table 73: Indonesia - Insurance Regulatory Framework Key Features
Table 74: Indonesia - Life Insurance Regulatory Framework
Table 75: Indonesia - Property Insurance Regulatory Framework
Table 76: Indonesia - Business Interruption Insurance Tariff
Table 77: Indonesia - Motor Insurance Regulatory Framework
Table 78: Indonesia - Liability Insurance Regulatory Framework
Table 79: Indonesia - Corporation Tax Rates for the Financial Year 2015
List Of Figures
Figure 1: Indonesian Real GDP, 2010-2019
Figure 2: IDR-US$ Exchange Rate, 2010-2019
Figure 3: Indonesian Consumer Price Inflation, 2010-2019
Figure 4: Indonesian Current Account Balance (% of GDP), 2010-2013
Figure 5: Indonesian Unemployment Rate, 2010-2019
Figure 6: Indonesian Population by Age Group, 1990-2025
Figure 7: Indonesian Personal Accident and Health Insurance - Gross Written Premium by Category (IDR Billion), 2010-2019
Figure 8: Indonesian Personal Accident and Health Insurance - Gross Written Premium by Category (Percentage Share), 2014 and 2019
Figure 9: Indonesian Personal Accident and Health Insurance - Gross Written Premium Dynamics by Category, 2010-2019
Figure 10: Indonesian Personal Accident and Health Insurance - Direct Written Premium by Category (IDR Billion), 2010-2019
Figure 11: Indonesian Personal Accident and Health Insurance - Direct Written Premium by Category (Percentage Share), 2014 and 2019
Figure 12: Indonesian Personal Accident and Health Insurance - Gross Written Premium Dynamics by Category, 2010-2019
Figure 13: Indonesian Personal Accident and Health Insurance - Net Earned Premium (IDR Billion), 2010-2014
Figure 14: Indonesian Personal Accident and Health Insurance - Net Earned Premium (IDR Billion), 2014-2019
Figure 15: Indonesian Personal Accident and Health Insurance - Paid Claims by Category (IDR Billion), 2010-2019
Figure 16: Indonesian Personal Accident and Health Insurance - Incurred Loss by Category (IDR Billion), 2010-2019
Figure 17: Indonesian Personal Accident and Health Insurance - Net Written Premium by Category (IDR Billion), 2010-2019
Figure 18: Indonesian Personal Accident and Health Insurance - Loss Ratio (%), 2010-2014
Figure 19: Indonesian Personal Accident and Health Insurance - Loss Ratio (%), 2014-2019
Figure 20: Indonesian Personal Accident and Health Insurance - Commission and Expenses (IDR Billion), 2010-2014
Figure 21: Indonesian Personal Accident and Health Insurance - Commission and Expenses (IDR Billion), 2014-2019
Figure 22: Indonesian Personal Accident and Health Insurance - Combined Ratio (%), 2010-2014
Figure 23: Indonesian Personal Accident and Health Insurance - Combined Ratio (%), 2014-2019
Figure 24: Indonesian Personal Accident and Health Insurance - Total Assets (IDR Trillion), 2010-2014
Figure 25: Indonesian Personal Accident and Health Insurance - Total Assets (IDR Trillion), 2014-2019
Figure 26: Indonesian Personal Accident and Health Insurance - Total Investment Income (IDR Billion), 2010-2014
Figure 27: Indonesian Personal Accident and Health Insurance - Total Investment Income (IDR Billion), 2014-2019
Figure 28: Indonesian Personal Accident and Health Insurance - Net Written Premium (% of GWP), 2010-2014
Figure 29: Indonesian Personal Accident and Health Insurance - Net Written Premium (% of GWP), 2014-2019
Figure 30: Indonesian Personal Accident and Health Insurance - Investment Portfolio (IDR Billion), 2010-2014
Figure 31: Indonesian Personal Accident and Health Insurance - Investment Portfolio (% Share), 2010 and 2014
Figure 32: Indonesian Personal Accident and Health Insurance Penetration (Ratio of Direct Premium to GDP), 2010-2014
Figure 33: Indonesian Personal Accident and Health Insurance - Density (Direct Premium per Capita), 2010-2014
Figure 34: Indonesian Personal Accident Insurance - Direct Written Premium (IDR Billion), 2010-2014
Figure 35: Indonesian Personal Accident Insurance - Direct Written Premium (IDR Billion), 2014-2019
Figure 36: Indonesian Personal Accident Insurance - Loss Ratio (%), 2010-2014
Figure 37: Indonesian Personal Accident Insurance - Loss Ratio (%), 2014-2019
Figure 38: Indonesian Health Insurance - Gross Written Premium by Sub-Category (IDR Billion), 2010-2019
Figure 39: Indonesian Health Insurance - Gross Written Premium Dynamics by Sub-Category, 2010-2019
Figure 40: Indonesian Non-Life Health Insurance - Direct Written Premium (IDR Million), 2010-2014
Figure 41: Indonesian Non-Life Health Insurance - Direct Written Premium (IDR Billion), 2014-2019
Figure 42: Indonesian Non-Life Health Insurance - Paid Claim (IDR Billion), 2010-2014
Figure 43: Indonesian Non-Life Health Insurance - Paid Claim (IDR Billion), 2014-2019
Figure 44: Indonesian Non-Life Health Insurance - Loss Ratio (%), 2010-2014
Figure 45: Indonesian Non-Life Health Insurance - Loss Ratio (%), 2014-2019
Figure 46: Indonesian Non-Life Health Insurance - Net Written Premium (IDR Billion), 2010-2014
Figure 47: Indonesian Non-Life Health Insurance - Net Written Premium (IDR Billion), 2014-2019
Figure 48: Indonesian Life Health Insurance - Direct Written Premium (IDR Billion), 2010-2014
Figure 49: Indonesian Life Health Insurance - Direct Written Premium (IDR Billion), 2014-2019
Figure 50: Indonesian Life Health Insurance - Paid Claim (IDR Billion), 2010-2014
Figure 51: Indonesian Life Health Insurance - Paid Claim (IDR Billion), 2014-2019
Figure 52: Indonesian Life Health Insurance - Loss Ratio (%), 2010-2014
Figure 53: Indonesian Life Health Insurance - Loss Ratio (%), 2014-2019
Figure 54: Indonesian Life Health Insurance - Net Written Premium (IDR Billion), 2010-2014
Figure 55: Indonesian Life Health Insurance - Net Written Premium (IDR Billion), 2014-2019
Figure 56: Indonesian Personal Accident and Health Insurance - Segment Shares (%), 2013
Figure 57: Indonesia - Insurance Supervision and Control at Various Levels
Figure 58: Indonesia - Insurance Regulatory Frameworks for Company Registration and Operation
