Jakarta, CNBC Indonesia – The Financial Services Authority (OJK) will review the product savings plan owned by the insurance industry. The goal is to avoid customer losses due to companies that have the potential to do things they are not responsible for.
Financial Services Authority (OJK) Non-Bank Financial Sector Supervision Chief Executive Officer Ogi Prastomiyono revealed that this was reflected in the Wanaartha Life case, so it was necessary to look into the products savings plan or similar at the insurance company.
“So we willrevision Product savings planall insurance products. Because it’s promising Return (yields) are very high and this can have various impacts,” he said at the OJK FGD event in Bogor on Friday (2/12).
Ogi continued, unitlink products have been regulated in OJK circular (SE) number 5/SEOJK.05/2022 regarding the implementation of investment-related insurance products (PAYDI) by insurance companies and sharia insurance companies, including the corporate units of the sharia, which took effect on March 14, 2022.
“But if the liaison unit has SE, the OJK is at a standstill. Deadline (deadline) March 2023. The product is repeated again, the undervaluation process, the potential contractor is right, it must bedisk (recorded),” he explained.
OJK data records that the accumulation of premiums/contributions for January-October 2022 is IDR 255.2 trillion, an increase of 1.81%. year after year (yy).
Meanwhile, accumulated claims over the same period amounted to IDR 185.47 trillion, up 3.33% year-on-year. As for the October claims report, the OJK said it reached 72.68%.
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