Personal Accident and Health Insurance in Indonesia
Synopsis
The report "Personal
Accident and Health Insurance in Indonesia, Key Trends and Opportunities to 2018''
provides in depth market analysis, information and insights into the Indonesian
personal accident and health insurance segment, including:
• The Indonesian personal accident and health insurance segment’s growth
prospects by insurance categories
• Key trends and drivers for the personal accident and health insurance segment
• The various distribution channels in the Indonesian personal accident and
health insurance segment
• The detailed competitive landscape in the personal accident and health
insurance segment in Indonesia
• Detailed regulatory policies of the Indonesian insurance industry
• A description of the personal accident and health reinsurance segment in
Indonesia
• Porters Five Forces Analysis of the personal accident and health insurance
segment
• A benchmarking section on the Indonesian life insurance segment in comparison
with other countries in the Southeast Asian region
Summary
In terms of gross written premium, the Indonesian personal accident and health
insurance segment accounted for 5.6% of the country’s total insurance industry
in 2013. The segment’s gross written premium recorded a compound annual growth
rate (CAGR) of 16.0% during the review period (2009–2013). This growth was
driven by the country’s strong economic development, increasing disposable
incomes, rising healthcare expenditure, and growing awareness of the benefits of
personal accident and health insurance. The segment’s value is projected to
increase at a CAGR of 11.5% over the forecast period (2013–2018), driven by an
increase in overall medical expenditure and strong economic growth, with
Indonesia’s GDP expected to record a CAGR of 5.8% over the forecast period.
Scope
This report provides a comprehensive analysis of the personal accident and
health insurance segment in Indonesia:
• It provides historical values for the Indonesian personal accident and health
insurance segment for the report’s 2009–2013 review period and forecast figures
for the 2013–2018 forecast period.
• It offers a detailed analysis of the key sub-segments in Indonesian personal
accident and health insurance segment, along with market forecasts until 2018.
• It covers an exhaustive list of parameters, including written premium,
incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and
crimes, total assets, total investment income and retentions.
• It analyses the various distribution channels for personal accident and health
insurance products in Indonesia.
• Using Porter’s industry-standard “Five Forces” analysis, it details the
competitive landscape in Indonesia for the personal accident and health
insurance segment.
• It provides a detailed analysis of the reinsurance segment in Indonesia and
its growth prospects.
• It profiles the top personal accident and health insurance companies in
Indonesia and outlines the key regulations affecting them.
Reasons To Buy
• Make strategic business decisions using in depth historic and forecast market
data related to the Indonesian personal accident and health insurance segment
and each category within it
• Understand the demand-side dynamics, key market trends and growth
opportunities within the Indonesian personal accident and health insurance
segment
• Assess the competitive dynamics in the personal accident and health insurance
segment, along with the reinsurance segment
• Identify the growth opportunities and market dynamics within key product
categories
• Gain insights into key regulations governing the Indonesian insurance segment
and its impact on companies and the markets future
Key Highlights
• The low insurance penetration in Indonesia encourages insurers to gain market
share and capitalize on the lucrative potential by implementing aggressive
business strategies and introducing new products.
• The Indonesian personal accident and health segment’s share of gross written
premium was the smallest in the insurance industry during the review period, and
declined from 7.4% in 2009 to 5.6% in 2013.
• Indonesia’s existing social security system primarily focuses on the country’s
low-income population and is unable to provide comprehensive coverage to all
citizens.
• Indonesia recorded the largest economy among Southeast Asian countries such as
Malaysia, Singapore, and the Philippines in 2013.
• The Indonesian personal accident and health segment is competitive, with the
10 leading insurance companies accounting for 55.1% of the gross written premium
in 2012.
• The government allows 80% foreign ownership in the industry, which has
encouraged the entry of multinational insurers such as Mapfre SA and ACE Group.