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The Insurance IndustryHas been witnessing a promising growth over the years..
13% Projected CAGR growth in Life Premiums (to IDR 243 Trillion)*
*Indonesia Insurance Report Q3
10% Projected CAGR growth in P&C Premiums (to IDR 81Trillion)*
*Indonesia Insurance Report Q3
This positive growth is expected to continue until the year 2020
Although withsteadygrowth, themainchallengeremain:
Increasing penetration in a condition where insurance spending is not at all priority in the mind of average Indonesians.
Micro-insurance:
> 6 MMicro-insurance policyholders
106 BTotal premiums in 2015
*KPMG Insurance Report 2016
Distribution is being tackled by several players
But they continue to face challenges What’s causing low market penetration?
Low market awareness
Insurance is hard to sell on its own
Distribution & adverse selectionchallenges, sometimes resulting in high premiums
Regulation
Humantalent
Innovation within the Industry:Players in the industry have used several product based approaches to tackle the problems
Unit-linked, bundling, digital services, micro-insurance, and even the government healthcare reform (JKN) to increase coverage
Holistic financial planning and education is requiredInsurance is a part of the bigger puzzle
Save for a purpose!
Short-term & long-term purposes! – Support customers plans for education, buying a house, retirement, etc.
Create Wealth
Store assets in higher yield products – helping customers grow their portfolio
Cover you risk!
Self, family and asset protections! – Protect and support them when it is most required
Our user needs insurance
How Kelola works now..KELOLA, INVESTASI TANPA BASA BASI
Curates safe investment product
Digital KYCEasy, fast and can be done anywhere!
Start low We let users invest with only Rp100k!
Investment Product listed
OJK
No time commitment
Cash in and cash out anytime!
We have access to financially educated audienceWe are a tech company – so we can do payment effectively!
Our users entrust us with their asset
We are taking a holistic view on our distribution, that’s how we intend to tackle distribution problem!How is Kelola relevant for the insurance industry
Engagement Sales Recurring payments
Risk Management
WhatsApp group: Kelola Investment Academy
In-app interaction with users & web-based Kelola’s financial content articles
Financial education workshops for companies/organizations
Ambassador programs for students
Direct agent for fields
Partnerships with companies to approach blue collars at scale (payroll scheme, event related bonuses, etc.)
in-app notificationto directly remind & update users
Cross-selling various financial products
Tracking on user activities & status to mitigate risks
Curate low-risk & stable financial products
Tackling problem of low awareness
Innovate on bundling financial products
Digital Market