Several Indonesian life insurance companies, including PT MSIG Life Insurance Indonesia and PT Asuransi Ciputra Indonesia, have reported an increase in health claim payments in the first quarter of 2025. This rise occurred despite the industry’s overall claim ratio declining to 71.2% by the end of 2024, as recorded by the Financial Services Authority (OJK).
PT MSIG Life Insurance Indonesia saw its claim payments reach IDR257 billion, representing a 63% increase from the previous year. The company emphasized its commitment to customer financial resilience and highlighted the importance of collaboration and data usage in strengthening the health insurance industry.
Similarly, Ciputra Life reported health claim payments of Rp8.1 billion and noted that corporate health insurance contributed nearly 20% to its total premium income. The company focused on multi-party collaboration to address claim risks effectively.
The Financial Services Authority (OJK) suggested that the industry needs continued product innovation, service digitalization, and strengthened risk management to move forward. The increase in claim payments by individual companies contrasts with the overall industry trend of a declining health claims ratio.
The Indonesian insurance sector is navigating through challenges while maintaining financial resilience for its customers. The industry’s ability to manage claims effectively while innovating and adapting to changing market conditions will be crucial for its future growth and stability.
