Insurance Industry in Indonesia

Topics: Insurance, Economics / Pages: 9 (2092 words) / Published: Oct 19th, 2012
The Rise of Indonesian Economics & Business:

Opportunities and Challenges of Insurance Industry

1. Summary

This report will provide an overview of the Indonesian economy and society, detailed insight on opportunities and challenges in the Indonesian insurance industry information. We introduced the industry’s history with great development, and it main challenges will face in Indonesia. Regulations and capital requirements are challenges. Life sector and growing GDP provide tremendous potential. Other prosperous sectors such as trade and manufacturing also indirectly help.

It is clear. With Indonesia’s enormous natural resources, cheap labor and growing middle class, the potential is exceptional. If the challenges can be handled, the opportunities are too big to neglect. Indonesia and its insurance industry is absolutely attractive and I would recommend for future investments.

The report has limitations. This provides general overview of Indonesia based on limited data. Other challenges found but not discuss here are corruption, infrastructure and the legal system. All these are critical to Indonesian development. Indonesia seems to be slowly improving on all these issues. Anti-Corruption in Indonesia are rapidly increasing in range and intensity with more democratic society.

2. Introduction of Indonesia

The country of Indonesia stretches across more than 13,000 islands between the Indian Ocean and the Pacific Ocean. With more than 220 million people, Indonesia has the fourth largest population in the world, behind China, India, and the United States.
The islands of Indonesia were formed along a line where two continental plates meet on the ocean floor. The islands are highly volcanic. The soil around the volcanoes is rich in nutrients, and the rainy, tropical climate along the equator is ideal for farming. Indonesia’s rice paddies produce crops year-round, and other crops include soybeans, sugarcane, and peanuts as well as

References: 13) UN Partnership for Development!les/UNPDF%20INDONESIA%202010-2015.pdf 14) Factsheet on Indonesia, Australian Government, 2012. 15) Background Notes on Indonesia, U.S. State Department, The United States Government 16) “Economic Oligarchy Hinders Indonesia”, September 16, 2010, Jakarta Post. 17) “Indonesia: Investing for Growth,” HSBC Global Research, March 16, 2010.

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