The 28th Indonesia Rendezvous, held from October 9-12 in Bali, brought together leading voices in Indonesia’s insurance sector to address the dynamic challenges and opportunities facing the industry today. Building on the foundation laid at the 26th Rendezvous, where discussions focused on “Recover Together, Recover Stronger” in alignment with Indonesia’s G20 Presidency, this year’s event took a step forward in exploring deeper aspects of climate resilience, regulatory collaboration, and innovative capital strategies under the theme, “Securing Stability & Unraveling Risk Impacting the Insurance Landscape.”

Since 2022, the International Finance Corporation (IFC) has been invited regularly to participate in the Indonesia Rendezvous, where our insurance team shares IFC’s global perspective on the transformative potential of the insurance sector for economies and communities. This year, IFC’s participation was led by Head of Insurance, James Smouse, and Head of Insurtech, Zeeshan Vazeer, with a focus on climate adaptation and resilience. IFC’s sessions highlighted how insurance can drive sustainable economic transformation in Indonesia, presenting the Building Resilience Index—an innovative tool designed to measure climate resilience, facilitate access to location-specific hazard information, provide resilience measures to mitigate applicable risks, and improve transparency for disclosing a building’s resilience information among sector stakeholders—alongside expert insights from MunichRe and the OECD. This collaboration aimed to address the risks posed by a challenging global reinsurance market, underscoring the importance of adaptability and proactive risk management.

The 28th Rendezvous also saw active participation from Indonesia’s insurance regulatory body, OJK, and AAUI, the national insurance industry association. Both organizations engaged with IFC on the findings from a recent Upstream study led by Sedef Gunsur, which examined alternative capital instruments to support the insurance sector's resilience and stability. With regulatory capital increases anticipated, OJK and AAUI recognized IFC’s thought leadership and expressed a commitment to working closely together to foster sustainable growth in the sector. This strong spirit of collaboration promises to open new avenues for investment and joint initiatives, further strengthening the foundations of Indonesia's insurance market. The IFC team’s role as a partner underscores a shared vision of a resilient, inclusive, and adaptive insurance sector, with each gathering serving as a platform to drive meaningful change across Indonesia’s insurance landscape.