Advanced

Indonesia

James Smouse, Head of Insurance, IFC

Strengthening Indonesia’s Insurance Sector: Highlights from the 28th Rendezvous

9
Oct
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
Read More
Product Detail Brochure for Earthquake Index Insurance (EQII)

Product Detail Brochure for Earthquake Index Insurance (EQII)

Content owner:
Global Index Insurance Facility
Topics:
Earthquake data
A newly designed product detail brochure for Earthquake Index Insurance (EQII) is available for digital viewing. Since 2014, PT Reasuransi MAIPARK and GIIF have been developing EQII, a new insurance product that triggers an automatic payout based on pre-determined earthquake parameters. EQII is designed to protect the lending portfolios of banks and microfinance institutions (MFIs) from liquidity crises in the aftermath of an earthquake. The intended insured party of this product is a bank/MFI. Also available in Bahasa Indonesia.
Read More
IFC session panel participants
22
Oct

Toward Sustainable Future and Inclusive Growth, The 26th INDONESIA RENDEZVOUS

The Asosiasi Asuransi Umum Indonesia, the General Insurance Association of Indonesia, brought together regulators, practitioners, local and international (re)insurance companies at the 26 th Indonesia Rendezvous conference held in Indonesia between 12-15 October. The theme of this year's gathering ‘Toward Sustainable Future and Inclusive Growth’ is in line with the main theme of G20 Presidency of Indonesia ‘Recover Together, Recover Stronger.’ The G20 Presidency theme is a reflection of the pressure the world has been under due to the COVID-19 pandemic, and it emphasizes the importance of
Read More
Launch of Soil Moisture Index Insurance Product in Indonesia

Launch of Soil Moisture Index Insurance Product in Indonesia

Financial Inclusion and Sustainability in Indonesia through introducing Cocoa Soil Moisture Index (SMI) Insurance product Following receipt of OJK’s approval of the listing of the Cocoa Soil Moisture Index insurance product, a first of its kind flagship product of IFC’s Indo Agri Insurance project, FIG AS Indonesia team was invited to attend the Cocoa Sustainability Partnership (‘CSP’) General Assembly meeting to observe a soft launch of the SMI. The SMI will contribute to increased investments in agriculture and rural communities by introducing insurance solutions to reduce the risks faced by
Read More
Fay Fay Choo
11
Dec

Cocoa Soil Moisture Index Agriculture Insurance

Despite the importance of the agricultural activities to the Indonesian economy ([13%] of GDP), livelihoods ([34%] of labor force), food security, and poverty reduction, the multiple risks associated with agricultural production – coupled with the general lack of knowledge and outreach to farmers/agriculture sector by financial institutions – have limited the needed levels of investment flows into the sector. Agri-lending in Indonesia accounts for a small portion of total lending, at [5.8%]. The risks aversion towards lending to farmers are well documented, including price fluctuations and
Read More
RIICE – Remote sensing-based Information and Insurance for Crops in Emerging economies

RIICE – Remote sensing-based Information and Insurance for Crops in Emerging economies

Date:
Author:
GIZ
The core objective is to provide better information on rice crop growth for food security policy and to reduce the vulnerability of smallholders in rice production caused by natural catastrophes.
Read More
Press Release: IFC and MAIPARK Support Rural Indonesian Banks in Earthquake-Prone Areas

Press Release: IFC and MAIPARK Support Rural Indonesian Banks in Earthquake-Prone Areas

Published on:
Topics:
Earthquake data
Country:
Indonesia
Yogyakarta, Indonesia, October 29, 2018 — IFC, a member of the World Bank Group, and PT. Reasuransi MAIPARK Indonesia, a special-risk reinsurance company, today hosted an event to present Earthquake Index Insurance (EQII) policies to three rural banks in Yogyakarta. The aim is to protect banks providing loans to individuals and micro, small, and medium enterprises from losses following earthquakes. More than 12 million Indonesians live and work in earthquake-prone zones, with economic exposure reaching an estimated $80 billion. These risks are especially high in Java, Sumatra, and Sulawesi
Read More
Illustrated Comic Book for Earthquake Index Insurance

Illustrated Comic Book for Earthquake Index Insurance

Content owner:
Global Index Insurance Facility
Author:
Asosiasi Asuransi Umum Indonesia, PT Reasuransi MAIPARK, dan Global Index Insurance Facility
Topics:
Earthquake data
Other
A 24-page illustrated comic book on Earthquake Index Insurance in Bahasa Indonesia.
Read More
"Fundamentals of Named Peril Index Insurance Risk Transfer Process" Workshop in Asia

"Fundamentals of Named Peril Index Insurance Risk Transfer Process" Workshop in Asia

Content owner:
Global Index Insurance Facility
Author:
Pavis Devahasadin
Topics:
General
Product design
More than 30 participants across Asia gathered in May 2017 in Jakarta to attend a regional workshop focusing on index insurance fundamentals and to discuss best practices in the development of the innovative financial product. The week-long workshop entitled “Fundamentals of Named Peril Index Insurance Risk Transfer Process” was sponsored by the Global Index Insurance Facility (GIIF) as part of its capacity building activities aimed at the development and enhancement of index insurance products in developing countries. Managed by the World Bank Group’s Finance & Markets Global Practice, GIIF
Read More
Sompo Japan Nipponkoa Insurance to Release Weather Index Insurance in Indonesia

Sompo Japan Nipponkoa Insurance to Release Weather Index Insurance in Indonesia

Published on:
Topics:
Weather index
Country:
Indonesia
Sompo Japan Nipponkoa Insurance will start selling insurance products that compensate farmers hit by drought in Indonesia as early as this fall, Asian Nikkei Review reports. With a premium of 50,000 rupiahs ($3.76), contract farmers will be entitled to be compensated 500,000 rupiahs if a drought occurs, the newspaper also details.
Read More