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.

In 2006, Head of Indonesia Insurance Council, Hotbonar Sinaga predict that International insurance company shall dominate Indonesia insurance market share in another 5 years. And I think he is right. Now, the name of International Insurance company such as “Prudential” or “Manulife” is very common to Indonesian people and I see that more and more Indonesian people became the holder of their insurance policy.

Personally, I am glad that more and more Indonesian people is realizing the importance to have insurance policy, not only for their life insurance but also other insurance product such Health, House, Car, and Child educations. But as a moslem, I hope that Indonesian Islamic or Sharia Insurance industry can also cope with this condition and play their role to offer their exceptional Insurance products to the Moslem community in Indonesia. As one of moslem resident in the biggest moslem country in the world, it is my personal hope that Islamic or Sharia insurance industry became the major player in Indonesia Insurance industry market share. I do hope this can be materialized in the not so distant future.