Just recently, I read a news that there are still a lot of Indonesian citizen who do not hold any single insurance policy. Despite the fact that there are a lot of penetration in Indonesian market by a local and Internatioal Insurance company, in one of the article that I read, if we compares to Indonesian inhabitants which is estimated to 220 million people (www.Menkokesra.go.id), the insurance policy holder is just 12 millions people. So it is only 6 percent from total Indonesia population. Even if we compared to Indonesia neighbour countries like Malaysia and Singapore, this number is really really small. In those countries, the number of Insurance policy holder is reaching 30-40 percent (www.republika.co.id).
Since Indonesia market potential for Insurance is really big, there is no wonder Indonesia became a target by many International Insurance company. This situation is very different when we look back around 5-10 years ago. In those days, Indonesian Insurance company rule the market share. But I think now the situation is changing.
