Health insurance restrictions tightened

Finance Ministry to tighten supervision of the financial soundness of insurance and reinsurance. Beleid is contained in the latest, the Ministry of Finance (PMK) No. 53 of 2012 on Health Insurance and Reinsurance Company. This rule is effective from next year. Many new things in the beleid. One of them, related to risk-based management application in calculating solvency. Solvency is the difference between the amount of assets to liabilities of the company's total operating expenses. The amount of solvency is at least 100% of the minimum risk-based capital. Later, the company must set a target of the lowest solvency of 120%. If the target is not reached, they were forbidden to carry out the plan change in strategy, business development even. Minimum risk-based capital is the amount of funds in anticipation of the risk of loss arising from the deviation of the asset and liability management. In other words, companies must be prepared to provide funds to pay claims even if it is losing customers. For unitlink sell insurance, minimum capital should be greater. You see, there is an additional burden to be taken into account in order to anticipate minimum capital case of default as in PT Bakrie Indonesia Insurance in 2009. In addition, this rule also details the investment system. Investments in time deposits limited to a maximum of 15%, whereas previously 20%, the maximum stake of 10% per issuer and a maximum of 40% overall. While the funds may only be trimmed 15% per investment manager with a total maximum of 50% of the total investment. This rule also cut investments in affiliated companies at most 10%, prior to 20%. Interestingly, beleid recently given permission to invest in pure gold, at most 10% of the total investment. Head of Insurance Bureau of Bapepam-LK, Rachmatarwata Isa said it is issuing this rule from now on to the insurance industry can learn. Thus the business has time to adjust to the new beleid. "The bottom line this year to see the readiness of first offender," said Isa, last weekend. Jesus also promised, immediately invited the parties to socialize these rules.

TIPS TO CHOOSE A GOOD INSURANCE COMPANY

Choosing a good insurance company is not easy. Moreover, in the midst of intense competition among insurance companies today.
Many insurance companies claim they are the best. It can be seen that there is an insurance product offered to the public through advertisements, almost none the less. Similarly, the performance they do, always accentuate the fine. Management of insurance companies rather rarely express their weaknesses are natural.

However, there are several factors that should be considered in the process of selecting an insurance company, especially for life insurance and loss.
The thing to keep in mind that in choosing a private insurance company, then that should be considered in general are three factors: First, the financial strength (security). Second, the service (service). And third, the cost.
Financial strength of insurance related to the company's financial ability to fulfill its promise if the situation requires. It is important to know, because not a few insurance companies are looking at the flashy exterior. For example storey building, vehicle good directors. But when there claims of customers, the company can not afford to pay.
In assessing the financial strength of these there are several benchmarks that need attention.
1. Assets and liabilities. This can be seen from the consolidated balance sheet is published in the newspaper. See also, whether the investment is planted in the current or longterm. In terms of liability (ability to pay off liabilities) will look at the balance sheet, how the debts to the reinsurer, how he fulfilled his obligation to pay claims, and so forth.
Indicators of net liabilities include equity (own capital) divided by net premiums (net premiums) of at least 50%. Equity divided by gross premium (gross premium) of at least 20%. Limit the level of solvency, as seen from its own capital divided by net premiums of at least 10% and investment funds technical reserves divided by a minimum of 100%.
2. Underwriting Policy. On the balance sheet and annual report will be seen that the insurance is still a profit, or profit growth. This means underwiting polcy was good.
3. Its underwriters. Insurance has personnel qualified or not. It is known from a company profile that includes the underwriters it.
Services (service) is a reflection of the extent of human resources at the company's qualified or not. Moreover, the insurance company is selling a service, so excellent service is the key. For example, the extent to which the speed of service in both the policy issue especially in the payment of compensation or claims. In addition, about the service can actually be felt by the customer. Is this insurance company was absolutely the best service for its customers.

In this connection it should also be questioned, whether the insurance company in reinsurance mereasuransikan class safety. This can be seen from its annual report. It is important to note, because if the company is not in - backed up by reinsurance, the company is likely to be speculative in receiving the premiums.
The problem is how much the cost incurred by insurance companies in operation. If it is greater than the cost of income, then obviously the company is not efficient. If it's not efficient, it will end up losing money. And if you continually lose money, certainly not healthy.
In this connection may also see the price premiums. Compare prices of insurance premiums with other insurance. Where the quality is really good.
Today the government has set a benchmark of health insurance (not the only one) is through mekanime RBC (risk capital base). If the number of RBC, this means the company is valued in good condition. But we should not be fixated solely with RBC numbers. Therefore, it could also be a large company that is doing a major expansion like to open many branches, then the RBC numbers would be small.
In contrast, there is a small insurance company but never to expand, the RBC number was probably much greater.
Thus, RBC numbers can not be used as the sole measure of whether the insurance company is healthy or not.
In this case, also noteworthy is the company's performance in two or three years. How big profits every year, how much gross premiums they receive each year, how much additional capital and assets every year.
And last but not least is how the behavior of the management company for this. Is there a management company for this broken promise? Has the management of these companies have defaulted, and so forth.

Aviva Insurance Indonesia hoist the retail portion

After becoming the focus of work on the corporate segment length, Aviva Insurance PT Indonesia finally targeting the retail segment. This year, Aviva Indonesia retail terkerek target contribution of 30% from the previous year only 15%. Vice President Director of Indonesia Albert Wanandi Aviva, said they wanted to balance the product portfolio.

To support this plan, Aviva plans to add two new types of products unitlink and health insurance. Planned for the second semester of this year rolled products on the market. "It can license from Bapepam-​​LK, this flagship product to boost premiums," said Alberth, on Friday (13/4).

The presence of these two products are expected to hoist the retail premium. For all this, the contribution of premium retail is still miniature in Aviva Indonesia. Because they rely on a single new product launched unitlink the middle of last year.

Aviva Indonesia not only rely on new products to hoist the premium. Albert said, they are also planning to increase the distribution channels through direct marketing. During these products still rely on Aviva retail banking channels. Aviva recorded already established cooperation with 12 banks. "Now is exploring with 4 new bank," he continued.

With the addition of co-operation, retail sales growing demand. Understandably so far, the contribution of corporate and broker distribution channels dominate, ie 85% of the total acquisition premium. Additional new bank is expected to help increase the contribution of banking.

In addition, Aviva corporate segment in a big way because they rely on products employ benefit. Last year, employ benefit contributed 85%, whereas 10% of credit life insurance and unitlink 5%. Albert explained, employ a large benefit because since 1998 has been developed.

Unfortunately Albert was not ready to disclose the acquisition of this insurance premiums last throughout 2011. But he sure contributed Aviva Indonesia is relatively small. But economic growth in Indonesia as well, Albert optimistic about the better.

This insurance company that recorded a decrease in premiums

Fierce competition of motor vehicle insurance business throughout 2011 casualties. Last year, the acquisition of premium vehicles in the four insurance companies that take the floor at the stock dwindled. Motor vehicle insurance premiums Safe Assets Pratama (AHAP) fell 17% to Rp 75.82 billion, compared to Rp 90.98 billion the previous year.

President of AHAP, Sunyata Wangsadarma admitted, competition is increasingly severe. In fact, the management of difficult motor vehicle premiums. They have to manage the garage to the client. While the premium is small and very high-risk claims. As a result, players are not high growth businesses. "In our automobile insurance only to decline, others continued to grow well," Sunyata, Monday (9/4).

Although decreased, the total contribution of motor vehicle premiums AHAP still dominates 46% of total premiums last year of about Rp 165 billion. The rest of the property 21%, miscellaneous 29%, and transport of 4%. Sunyata targeting, increased automobile insurance premiums in order to pursue a target total of Rp 250 billion. After all, if hard up, they've got a recipe to rely on personal accident insurance. "Let the small, from many, personal accident insurance can be a mainstay," he said.

Insurance Services Tania same fate. Acquisition of motor vehicle insurance premiums shrank 35.6% to Rp 38.73 billion, from USD 59 billion a year earlier. As a result, total premiums last year to be Rp 171 billion, down 4.5% than the previous year to Rp 179 billion. Financial Services Director Tania, Slamet Solikhun said, competition is tight motor insurance last year. "The risk of motor vehicle claims too high," said Solikhun.

In 2012, Tania Sale of motor vehicles are still hoping to get up. If it does not happen, Tania Services will rely on a variety of insurance, personal accident insurance. In the first quarter of 2012, personal accident insurance premiums accounted for Rp 45 billion.

Tania service to pursue new personal accident insurance this year. According Solikhun, hard to expect a motor vehicle insurance. "Hopefully still growing, but the personal accident insurance is quite helpful," he explained.

Two other insurance companies have similar conditions. Ramayana insurance premium income recorded a decrease in motor vehicle 7.7% to Rp 131 billion from Rp 142 billion the previous year. Only the premium contributions of motor vehicles declined. Property insurance, transportation, order ships, engineering, insurance, and miscellaneous printing premium contributions increase, with total premium of Rp 533 billion last year.

Insurance Partners Dayin record 4.6% decline in motor vehicle insurance premiums to $ 48 billion compared to USD 50 billion in 2010. Dayin Partners scored a total premium of Rp 405 billion.

Competition to be the cause of decline in four insurance. General Insurance Association of Indonesia (AAUI) records, motor vehicle insurance premium of Rp 10.23 trillion last year, growing 13.8% in 2010 compared to Rp 8.9 trillion. This means that there are other companies that made the market the other players.


source : keuangan.kontan.co.id

Micro-insurance more appealing

Although the terms of the amount of the premium was as high as other types of insurance, microinsurance lure more appealing. You see, insurance is targeting the middle to bottom, that exceeded half the population of Indonesia. Not surprisingly, insurance companies too busy to enlarge the income from a business niche on this one.

Just a reminder, a micro-insurance protection products with low prices and limited coverage. As in Chartis Insurance Indonesia, market micro insurance package, ranging from Rp 50,000 per year with a maximum of Rp 30 million of coverage. "This year we are targeting micro-insurance premium income grew 20% compared to the year 2011 amounting to Rp 16 billion," said Muwafick Hidayat, Head of Micro Insurance, Chartis Indonesia, last weekend.
Referring to World Bank study in 2011, there were approximately 77 million people in Indonesia who do not have the financial protection and savings. As a result when to die, fall ill, crop failure, or loss of employment was forced to seek bail. They became the target market is Chartis Insurance. "They need protection, but at an affordable price," said Muwafick.

Chartis is preparing the appropriate technology to develop micro-insurance market segments. This is a technology that allows the owners of grocery stores, food stalls entrepreneurs, artists, or other micro entrepreneurs can access. You see, they are micro-insurance market segments. "In order to hook new customers, we will also market these products in conjunction with micro-credit offerings by other companies," said Muwafick.

Hendrisman Rahim, Managing Director of PT BNI Life Insurance recognizes, is a small micro-insurance premiums. However, because the market is large, the potential revenues could also rise.

Throughout the year 2011, the contribution of micro-insurance premiums in the new BNI around
Rp 200 billion. Most were from outside the market Jawa.Tahun 2012, insurers are targeting the red plate micro-insurance premiums contributed Rp 300 billion to Rp 400 billion.

To achieve these targets, relying Jiwasraya via cooperative marketing. This strategy is more effective than relying on agents. You see, the more cooperative approach to the community in small towns.


source : keuangan.kontan.co.id

BIP Thinking that Parking Insurance for Visitors Comfort

Mal management of Bandung Indah Plaza (BIP) approved insurance claims applied the parking manager for the convenience of park visitors. However, the BIP did not know about the lack of insurance regulation in the parking of vehicles in the newly enacted Perwal 5 April 2012.

"As we leave the building management arrangements with third parties (business park). Which they have coordinated with the government. There Perwal After this, it does not regulate insurance issues. Then from the secure parking formulate any separate insurance. The management approve, "said mall Marketing Communications Bandung Indah Plaza (BIP) Tubagus Feisal Joseph.

He told reporters at the mall BIP, Jalan Merdeka, Monday (04/09/2012). For details on insurance, says Good, a secure parking management affairs. "In essence we would not be against the rules. It's just a miscommunication between managers BIP parking management," said Good.

From the first, in the mall parking lot BIP no vehicle insurance. So, continued good, it wants to offer a convenience for visitors to determine the cost of insurance.

"It now seems to not need insurance. But when it's gone, regardless of insurance must be willing to pay," said Good.

On 5 April 2012 then, the City Government Mayor of London sets the rules (Perwal) No 163/2012 on Rent, Parking Management and Technical Guidelines for parking at the Court House and Parking in the city of Bandung. That is, all parking in the city of Bandung uniform.

However, while the implementation in the field, BIP mal insurance costs would apply to motorists who park. Insurance is set at Rp 1,000 per hour for cars and $ 500 per hour applies to motorcycles.

Chairman of the Parliament of Bandung Erwan Setiawan furious with the rule. Erwan assess the cost of insurance that does not fit Perwal and illegal.


source : bandung.detik.com

CREDIT INSURANCE: Askrindo ready to receive premium Rp382, 15 billion

PT Indonesian Credit Insurance will guarantee loans with a value of Rp23 trillion in premiums estimated at up to Rp382, 15 billion in cooperation with PT Bank Rakyat Indonesia Tbk, PT Bank State Savings Insurance Agency Ltd. and Export Indonesia.

Director of Credit Insurance Indonesia (Askrindo) Anthony CS Napitupulu disclose such cooperation related to underwriting small loans (KUR), housing finance liquidity facility (FLPP) and import-export credit guarantee.

"The cooperation with BRI [Bank Rakyat Indonesia] is related to automated underwriting KUR. This year KUR target total is expected to reach Rp30 trillion, we hope to guarantee about half, it be fair for two with Jamkrindo [Public Enterprise Credit Guarantee Indonesia], less is more Rp15 trillion, "he said, today, 9 April 2012.

Automated underwriting KUR is a computerized system that connects the data KUR Askrindo BRI with a data system to facilitate the verification process guarantees recipients a prospective customer. Anthony continued, through underwriting KUR Rp15 trillion, Askrindo obtain a premium estimated Rp341, 25 billion or equal to 2.275% of the total value of loans guaranteed.

Meanwhile, cooperation with the State Savings Bank (BTN) through the company's FLPP program to get a premium of 0.37% of the total value of Rp 7 trillion ataus underwriting ebesar Rp25, 9 billion. With a total value, Askrindo projected to guarantee loans to 200,000 homes throughout Indonesia.

Furthermore, Anthony added, cooperation with Indonesia Export Insurance Agency (LPEI) has so far not guarantee a certain target value. But he projected the first phase, the company can guarantee Rp500 billion to Rp1 trillion, export credits.

Meanwhile, the first phase expected to last for 1 year - 2 years is projected premium of 1% - 1.5%. So the company is estimated to earn a premium of up to Rp15 billion.

"For the BTN and BRI, because this program FLPP and KUR, there is a fixed rate that has been allocated to it, with LPEI is because trade with the private sector, then there has been no allocation of the fixed rate," he explained.

However, Anthony is optimistic target of LPEI can guarantee to increase with a positive export outlook. He added 500 billion - Rp 1 trillion is a minimum target for the export conditions are still depressed due to the instability of the world economy.

He believes Europe and America after the crisis passed, the volume of credit guaranteed by the company will increase along with growth in exports.



source : www.bisnis.com