Jakarta, CNBC Indonesia – PT Asuransi Jiwasraya (Persero) said that it has implemented standardization of investment portfolios in accordance with the regulations. In line with that risk management is also carried out strictly in the management of investment in the company’s business processes.
Director of Compliance and Human Resources (HR) Jiwasraya R Mahelan Prabantarikso said this step was taken in terms of company transformation along with revamping all company lines to save all customer policies.
“In addition to preparing a source of funding that is a solution to Jiwasraya’s fundamental problems, this company’s transformation is also an important point in the policy rescue program, so that finally all Jiwasraya policies can be saved and transferred to IFG Life,” Mahelan said in his press release, Wednesday (18 / 11/2020).
Apart from the investment portfolio, the company has also discontinued old Jiwasraya products that promise high interest rates. The company has also consistently suppressed product sales expenses by forming a special corporate unit, revitalizing sales of retail insurance products and using a mutually beneficial agency cooperation system.
Furthermore, governance and risk management are also carried out in a transparent, accountable, responsible, independent and fair manner.
The company also reorganized its structure with the aim of achieving operational cost efficiency and optimizing human resources.
In the near future, the company will announce a restructuring program in order to save customer policies due to liquidity problems experienced by the company.
In order to save this, the government will inject Rp 22 trillion in state capital participation (PMN) which will be provided through the holding of insurance and guarantees of the Indonesia Financial Group (IFG) or previously known as PT Bahana Pembimbing Usaha Indonesia (BPUI).
This fund will be used as capital for the establishment of a new life insurance company, namely IFG Life, which will accommodate Jiwasraya’s customer policies, which will be restructured.
(hps / hps)
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