As of the first half of 2024, the value of the premiums in Indonesia’s insurance industry amounted to approximately *** trillion Indonesian rupiah. As the steady growth in premiums illustrates, the Indonesian insurance market has been growing in recent years, proving its resilience amid the challenges posed by COVID-19. The industry still has considerable potential for development, given the still low penetration rate, stimulated by rising middle-class incomes. Life insurance in Indonesia The life insurance sector leads the Indonesian insurance industry in terms of written premiums. The value of premiums in the life insurance sector amounted to ***** trillion Indonesian rupiah as of 2023, ahead of premiums in the non-life insurance sector, which were worth around *** trillion Indonesian rupiah. The life insurance market is dominated by international players such as Prudential Indonesia and Manulife Indonesia. In 2024, Manulife Indonesia had total assets of around ** trillion Indonesian rupiah, followed by Prudential Indonesia, with assets of around **** trillion Indonesian rupiah. Indonesian general insurance market In the general insurance sector, the highest premiums were recorded in property, motor, and credit insurance. Indeed, as of 2024, property insurance accounted for ** percent of premiums written in the Indonesian non-life insurance sector, followed by credit insurance with ** percent. For these general insurance products, brokers accounted for ** percent of premiums written in the country, followed by direct marketing and leasing channels.

The Indonesia Health and Medical Insurance Market Report is Segmented by Insurance Product Type (Private Medical Insurance, Public/Social Security Schemes), Term of Coverage (Short-Term, Long-Term), Distribution Channel (Brokers/Agents, Banks, Direct-To-Consumer, Employer-Sponsored, Other Channels), and End-User Segment (Individuals, Smes, Large Corporates). The Market Forecasts are Provided in Terms of Value (USD).

Indonesia Insurance TPA market was valued at USD 1.66 Bn in 2024, it is set to reach USD 5.32 Bn by 2030, fueled by growing demand for insurance policies

Indonesia Insurance Statistic: Policy Insured: Sharia Life Insurance: Market Share data was reported at 25.020 % in 2023. This records a decrease from the previous number of 26.230 % for 2022. Indonesia Insurance Statistic: Policy Insured: Sharia Life Insurance: Market Share data is updated yearly, averaging 11.115 % from Dec 2008 (Median) to 2023, with 16 observations. The data reached an all-time high of 26.230 % in 2022 and a record low of 6.430 % in 2008. Indonesia Insurance Statistic: Policy Insured: Sharia Life Insurance: Market Share data remains active status in CEIC and is reported by Indonesia Financial Services Authority. The data is categorized under Indonesia Premium Database’s Insurance Sector – Table ID.RGA004: Insurance Statistics: Market Share.

As of the first half of 2024, the value of claims in the insurance industry of Indonesia amounted to approximately ****** trillion Indonesian rupiah. In that period, the value of premiums in the reinsurance industry amounted to around ***** trillion Indonesian rupiah.

Insurance Statistic: Assets: Life & Non Life Sharia Insurance data was reported at 44.330 IDR tn in 2023. This records a decrease from the previous number of 44.840 IDR tn for 2022. Insurance Statistic: Assets: Life & Non Life Sharia Insurance data is updated yearly, averaging 29.905 IDR tn from Dec 2008 (Median) to 2023, with 16 observations. The data reached an all-time high of 45.800 IDR tn in 2019 and a record low of 1.853 IDR tn in 2008. Insurance Statistic: Assets: Life & Non Life Sharia Insurance data remains active status in CEIC and is reported by Indonesia Financial Services Authority. The data is categorized under Indonesia Premium Database’s Insurance Sector – Table ID.RGA004: Insurance Statistics: Market Share.

Insurance Statistic: Gross Claim: Sharia Non Life Insurance & Reinsurance: Market Share data was reported at 3.490 % in 2023. This records a decrease from the previous number of 4.050 % for 2022. Insurance Statistic: Gross Claim: Sharia Non Life Insurance & Reinsurance: Market Share data is updated yearly, averaging 3.120 % from Dec 2008 (Median) to 2023, with 16 observations. The data reached an all-time high of 4.080 % in 2017 and a record low of 1.820 % in 2008. Insurance Statistic: Gross Claim: Sharia Non Life Insurance & Reinsurance: Market Share data remains active status in CEIC and is reported by Indonesia Financial Services Authority. The data is categorized under Indonesia Premium Database’s Insurance Sector – Table ID.RGA004: Insurance Statistics: Market Share.

Discover the booming Indonesian motor insurance market! Our comprehensive analysis reveals a strong CAGR, market size projections, and regional breakdowns for 2025-2033. Learn about key growth drivers, challenges, and opportunities in this dynamic sector. Invest wisely in Indonesia's rapidly expanding automotive landscape. Recent developments include: November 2022: To increase consumer access to insurance, PasarPolis, an Indonesian insurtech firm, introduced TAP Insure, a direct-to-consumer vertical. The company leverages cutting-edge technology to deliver a seamless user experience from purchase to claim in an effort to democratize insurance by enabling all consumers to readily obtain reasonable insurance solutions. Customers can access embedded insurance products directly from the TAP Insure app, which can be downloaded from the AppStore and Playstore, thanks to PasarPolis' focus on end users., January 2022: The Indonesian government declares that the PPnBM automobile sales tax benefits will continue in 2022. The government plans to abolish the rules for collecting the luxury goods sales tax (PPnBM) and replace it with a value-added tax (PPN). The automotive and electronic goods entrepreneurs are still waiting and seeing. However, they are worried that changes to the tax collection policy could increase the selling price of the product.. Notable trends are: Potential Growth in the Insurance Sector.

Unlock data-backed intelligence on Indonesia Life Insurance Market, size at USD 12.8 billion in 2023, featuring industry analysis and future trends.

In 2023, Indonesia Travel Insurance Market reached a value of USD 62.0 million, and it is projected to surge to USD 143.7 million by 2030

Insurance Statistics: No of Registered Insurers: Mandatory Insurance data was reported at 2.000 Unit in 2023. This records a decrease from the previous number of 3.000 Unit for 2022. Insurance Statistics: No of Registered Insurers: Mandatory Insurance data is updated yearly, averaging 3.000 Unit from Dec 2003 (Median) to 2023, with 21 observations. The data reached an all-time high of 3.000 Unit in 2022 and a record low of 2.000 Unit in 2023. Insurance Statistics: No of Registered Insurers: Mandatory Insurance data remains active status in CEIC and is reported by Indonesia Financial Services Authority. The data is categorized under Indonesia Premium Database’s Insurance Sector – Table ID.RGA001: Insurance Statistics: Key Indicators.

Indonesia Insurance Statistic: Gross Claim: Sharia Life Insurance: Market Share data was reported at 10.610 % in 2023. This records an increase from the previous number of 10.040 % for 2022. Indonesia Insurance Statistic: Gross Claim: Sharia Life Insurance: Market Share data is updated yearly, averaging 3.085 % from Dec 2008 (Median) to 2023, with 16 observations. The data reached an all-time high of 10.610 % in 2023 and a record low of 0.990 % in 2008. Indonesia Insurance Statistic: Gross Claim: Sharia Life Insurance: Market Share data remains active status in CEIC and is reported by Indonesia Financial Services Authority. The data is categorized under Indonesia Premium Database’s Insurance Sector – Table ID.RGA004: Insurance Statistics: Market Share.

As of the first half of 2024, the assets of the insurance industry in Indonesia increased to approximately *** quadrillion Indonesian rupiah from about *** quadrillion rupiah in 2016. The total assets of the Indonesian insurance industry has fluctuated over the observed period.

In Indonesia AI in Model Insurance Market, offering valuable insights, key market trends, competitive landscape, and future outlook to support strategic decision.

Indonesia Insurance Statistic: Gross Claim: Life & Non Life Sharia Insurance: Market Share data was reported at 8.560 % in 2023. This records a decrease from the previous number of 8.570 % for 2022. Indonesia Insurance Statistic: Gross Claim: Life & Non Life Sharia Insurance: Market Share data is updated yearly, averaging 3.165 % from Dec 2008 (Median) to 2023, with 16 observations. The data reached an all-time high of 8.990 % in 2021 and a record low of 1.160 % in 2009. Indonesia Insurance Statistic: Gross Claim: Life & Non Life Sharia Insurance: Market Share data remains active status in CEIC and is reported by Indonesia Financial Services Authority. The data is categorized under Indonesia Premium Database’s Insurance Sector – Table ID.RGA004: Insurance Statistics: Market Share.

The size of the Indonesia Health and Medical Insurance Market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 5.00">> 5.00% during the forecast period. Recent developments include: June 2022: Allianz Asia Pacific and HSBC have signed a 15-year extension of their strategic partnership. As part of the partnership, HSBC will be distributing Allianz insurance products., April 2022: PT Sun Life Financial Indonesia, a subsidiary of Sun Life Financial Inc., and PT Bank CIMB Niaga Tbk are in a strategic partnership in Indonesia. This partnership combines Sun Life Indonesia's comprehensive range of insurance solutions and expert Client care across all life stages with CIMB Niaga's extensive distribution network of 427 branches serving seven (7) million customers across Indonesia.. Key drivers for this market are: Digitalization is Driving the Market. Potential restraints include: Economic Disparities are Restraining the Market. Notable trends are: Public Health Insurance is Dominating the Market.

By the end of 2024, the insurance density increased to approximately **** million Indonesian rupiah from about *** million Indonesian rupiah in 2015. Overall, the insurance density per capita in the country has been steadily increasing.

Indonesia Motor Insurance Market size was valued at USD 1.72 Billion in 2024 and is expected to reach USD 2.94 Billion by 2032, growing at a CAGR of 6.9% from 2026-2032.Indonesia Motor Insurance Market DriversRising Vehicle Ownership Across the Country: The core driver of the Indonesia Motor Insurance Market is the exponential increase in vehicle ownership, particularly among the burgeoning middle class residing in densely populated urban centers like Java and Sumatra. Driven by rising disposable incomes and rapid urbanization, the country has seen robust sales of both four-wheelers and, most significantly, two-wheelers, with the overall registered vehicle parc approaching 146 million units.Government Regulations Mandating Motor Insurance: While the mandatory status of Third-Party Liability (TPL) insurance for all private vehicles is currently under regulatory consideration by the Financial Services Authority (OJK) and the Ministry of Finance, the prospect of its implementation represents a colossal growth opportunity. Mandatory TPL coverage would instantly bring millions of currently uninsured vehicles, particularly two-wheelers, into the formal protection system, drastically narrowing the country's insurance protection gap.

In Indonesia Cyber Insurance Market , was valued at approximately USD 10.11 billion in 2022 and is projected to reach USD 12.45 billion by 2029,

Indonesia Digital Health Insurance Market valued at USD 1.5 Bn, driven by digital adoption, rising healthcare costs, and awareness, with growth in urban centers like Jakarta.