Kadin Highlights Sharia Micro Insurance's Huge Market Potential
27 February 2015 13:30 WIB
TEMPO.CO, Jakarta - Rosan P. Roeslani, deputy for banking and finances at the Indonesian Chamber of Commerce and Industry (Kadin), said that the sharia micro insurance businesses have enormous economic potentials from the huge number of the low income class. According to the Central Statistics Agency per September 2014, there are 27.7 million people living are below the poverty line.
"People who earn less than Rp2.5 million per month are the main market of Islamic micro insurance products," he said.
To strengthen the business' market penetration, Kadin will meet with the Financial Services Authority (OJK) and the Indonesian Islamic Insurers Association (AASI), to discuss increasing the use of technology and agents to promote sharia micro insurance.
"In the near future, the Kadin, OJK and the AASI will tour 16 cities," he said.
Rosan said the industry has invested Rp16.69 trillion with a 22.81 percent annual growth in 2014. Last year, 53 firms sold micro insurance products to 6.16 million customers, garnering a net profit of Rp108 billion.
ANDI RUSLI
