PT Asuransi Jiwa Generali Indonesia (Generali Indonesia) is ready to implement the regulations of the Financial Services Authority (OJK) to create a healthy insurance company. Chief Marketing Officer Vivin Arbianti Gautama stated that Generali Group, as part of the global insurance industry, has a strong capital as an essential element in conducting business operations. Generali Indonesia is currently studying the OJK roadmap in detail to improve the domestic insurance industry. The roadmap is seen as beneficial for the future growth of the insurance industry, and Generali hopes that with OJK's policies and support from various parties, the public will have a better understanding of the selected insurance companies, their protection products, and the importance of insurance for their future.
OJK is developing a roadmap to improve the domestic insurance business, including regulations on capital classification, actuaries, and credit insurance. The capital classification rule differentiates between Class 1 and Class 2 insurance companies, allowing smaller companies to sell only simple products. The requirement for actuaries is already stipulated in the Insurance Law No. 40 of 2014, mandating insurance companies to have an actuary. However, there are still 30 insurance companies without actuaries, and the regulator urges the industry to fulfill this obligation by the end of the year. Additionally, the regulator is designing OJK regulations regarding credit insurance, aiming to address issues such as premium levels, market share, coverage duration, and excessive acquisition costs that burden the insurance industry.

Source: https://keuangan.kontan.co.id/news/generali-indonesia-kaji-roadmap-perbaikan-bisnis-industri-asuransi-ojk