Webinar: Digital Insurance in Indonesia

1. Digital Insurance in Indonesia
24th February 2021

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Disclaimer
Presentations are intended for educational purposes only and do not replace independent
professional judgment. Statements of facts and opinions expressed are those of the
participants individually and, unless expressly stated otherwise, are neither the opinion nor
position of The Digital Insurer. The Digital Insurer do not endorse or approve, and assume
no responsibility for, the content, accuracy or completeness of the information presented.

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Working together to accelerate the digital transformation of insurance
Key Questions

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Today’s Panellists
Working together to accelerate the digital transformation of insurance

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Working together to accelerate the digital transformation of insurance
Opening Remarks

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Discussion Agenda
90
Minutes
Opening remarks
Global trends & Indonesia InsurTech map
Returning to a new reality
Insurer perspectives x2
Insurtech perspectives
Panel discussion including Q&A
TDI updates & wrap up
Working together to accelerate the digital transformation of insurance

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How to participate:
If you have a question please type into the Q&A area
If you have a comment please type into the chat area
Session format:
The moderator will use a combination of their own questions and those from the
audience
Working together to accelerate the digital transformation of insurance
How to participate

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Global Trends & Perspective
1. Pace is picking up - change is urgent
2. 2 speeds / dimensions - VCI and NDBM
3. Its OMNI – not Digital only vs face-to-face .
4. Risk reduction through tech
5. Ecosystem impacts – new channel + new products.
Embedded insurance
Value Chain
Innovations
New Digital
Business
Models
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Improving
Today
Reinventing
Tomorrow
1
2 3
4 5

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Launch of Dynamic Indonesia InsurTech Map
https://www.the-digital-insurer.com/dynamic-insurtech-maps/indonesia/

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Working together to accelerate the digital transformation of insurance
Returning to a new reality

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Poll 1 – What do you think?
Q. Which area will be the one your company is focusing on most in
the next 12 months?
Response options
1.Making distribution more digital
2.Focus on digital marketing
3.Moving operations to be more paperless
4.Data collection and using analytics

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Working together to accelerate the digital transformation of insurance
Insurer Perspective

19. Teguh Aria Djana
CEO PT Asuransi Simas insurtech
Indonesian Insurer
Creating Digital Insurance
Ecosystem with Insurtech

20. As Insurance companies enter the future,
digital technology is evolving from an
advantage to a basic expectation and
yesterday's best practices are turning into
today's shortcomings.
Source : Technology for Insurance 2020 | accenture.com/insurancetechnology/vision
#TechVision2020

21. People Are Changing, Why Aren't You?
To move forward, insurers
must first acknowledge the
essential role technology
plays in people's lives today
and how that relationship is
changing people's needs and
expectations.
Source : Technology for Insurance 2020 | accenture.com/insurancetechnology/vision
#TechVision2020

22. Where Insurtech Best Positioned
in the Insurance Industry ?

23. Advisory
• Aggregator – Lead Generator
• Specific Product (e.g. Healthcare) – Lead Generator

24. Distribution Channel
• Multi Product – Multi Insurer
 Licensed Insurance Broker
• Single/Multi Product – Single Insurer
 Licensed General insurance Agent

25. Tech Enabler on Certain
Business Process
• AI based application assessment and verification
(e.g. for credit insurance)
• Policy Management (CRM, Filing, upselling and cross selling tool)
• Agency Management System
• Claim Management (for travel, motor and / or health insurance)
• Using AI/Machine Learning
• Usage Based and Parametric Insurance Tool
• Actuarial Services
• Back End and Management Information System

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Working together to accelerate the digital transformation of insurance
Insurer Perspective

27. 24 February 2021
FWD Insurance
Indonesia
Adopting Technology

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• Easy Apply
• SIO approach and
fulfilled online
• Sales completed online
• Engage customers in a
fun and user-friendly way
Simple and Seamless - Online Sales Journey
Get Quote

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Simple Personal Information & U/W Questions
 No upload KYC documents
 3 health statements
 Only one click to confirm

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Your summary….Let’s finish your journey
Website
navigation
button to
motivate users
to complete the
online sales

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 Finish the journey in 10
mins and 6 clicks
 Send e-policy as soon
as complete the
payment
Complete Online Journey

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FWD Max & Agency TV
 FWD Max
One stop solutions
application for
insurance related
activities for customers
and non-customers
 "AgencyTV"
Digital communication
platform to ensure that
all agents stay
connected and
enables them to be
more professional,
productive, and
responsive.

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Poll 2 – What do you think?
What do you think the future for life insurance advisors will
be in Indonesia in a digital world?
Response options
1. Smaller number – more full-time, more productive, digital presence for Business
development and digital tools for conversion
2. Broadly the same as now – part-time with some digital tools to help sales
3. Sharp decline as other channels prove more attractive

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Working together to accelerate the digital transformation of insurance
InsurTech Perspective

35. Indonesia
• 268.2 mio total population
• Insurance penetration: < 2%
PasarPolis is here to provide
Insurance For All
Improving insurance literacy
& inclusion
INSURANCE FOR ALL
ASURANSI UNTUK SEMUA
Asuransi untuk Semua
The Digital Insurer
“Digital Insurance in Indonesia”
Thursday, 24 February 2021

36. Strictly
Private
&
Confidential
80+ active insurance products from
30 insurance partners
Ecosystem Partner Platform
Deep strategic partnerships with
27 industry market leaders
Full fledge Insurance Brokerage License to
comply with Indonesian regulator (OJK)*
Deployed to 30mn+ unique users through...
Best in Class Technology
Scalable and flexible cloud-based platform
Fast integration - 1 day product onboarding
Instant Claim - 80% done in 18 seconds
AI based risk assessment - fraud detection
Dynamic pricing technology
Partner dashboard - enhanced client servicing
656 million policies
sold in 2019
Strong GWP growth
track record and outlook
CAGR 109%
Delivering Exceptional Results
Positive and sustainable
unit economics across all products
Agent Platform PasarPolis Mitra
Revolutionizing insurance sale for
40,000 agents and growing
Home grown local company
with international presence
and developing Employee Benefit Platform
Well positioned for regional expansion as the
leading Insurtech in SE Asia
* OJK Circular Letter no.19 /SEOJK.05/2020 for Insurance Product Marketing, requires
brokerage license to sell insurance
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PasarPolis the #1 Insurtech in Indonesia
Redefining Insurance through Connective Ecosystems and Technologies

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Private
&
Confidential
3
7
PASARPOLIS: THE UNDISPUTED INSURTECH LEADER IN INDONESIA
25Strategic
partners
10,000
agent partners
70million
policies/month
30insurance
partners
83active
products
1stinstant
claim in Indonesia
with 80% done at 18
seconds

38. Strictly
Private
&
Confidential
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PasarPolis Removes Daily Worries by Harnessing Technology
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Book a flight ticket
protected by PasarPolis’ Flight
Delay and Cancellation Insurance
Travel home from
work
protected by PasarPolis’ Go-
Passenger Insurance
Phone damaged but
fully insured
with PasarPolis’ Crack Screen
Insurance
Purchase a new phone
from e-commerce
protected by PasarPolis’ Shipping
Return and Original Guarantee
Insurance and purchase
PasarPolis’ Complete Mobile
Protection
Enjoying afternoon
snack ordered online
Without worrying thanks to
PasarPolis On Time Guarantee

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Poll 3 – What do you think?
What do you think are the two most attractive areas for
InsurTech in Indonesia?
Response options
1. New digital business models – aggregators
2. New digital business models - ecosystem owners
3. New digital business models – health and corporate employee benefits
4. Value chain innovations – sales & marketing
5. Value chain innovations – claims & underwriting
6. Value Chain innovations – full stack admin for new digital products

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Time to talk
Working together to accelerate the digital transformation of insurance

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Poll 4 – What do you think
Where is Indonesia on its digital insurance journey?
Response options
1. A bit behind but great potential and needs to be move quickly to catch up
2. About the same as India but behind China
3. Not sure

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https://www.the-digital-insurer.com/search-insurtech-directory/#
Working Together to Accelerate the Digital Transformation of Insurance
INSURTECH DIRECTORY

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https://www.the-digital-insurer.com/search-insurtech-directory/#
Working Together to Accelerate the Digital Transformation of Insurance
INSURTECH DIRECTORY

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Dynamic InsurTech Maps
Hong Kong, China, SG, India & Portugal Maps now live – more launching soon
https://www.the-digital-insurer.com/dynamic-insurtech-maps/
Hong Kong’s Dynamic InsurTech Map IT’S DYNAMIC - CLICK AWAY!
Value Chain Innovations New Digital Business Models
InsurTech Supporters
Learning
Ecosystems
Comparison Sites
Source: FTAHK & TDI Analysis using TDI InsurTech Directory. Disclaimer : Not claiming to be exhaustive and may include InsurTechs that are no longer active. Please let us know if you think we need to make a change.
Sales
Industry / Govt Bodies
P2P & Community
Financing Hubs & Events
Underwriting & Risk Mgt
Administration / Systems
Analytics
Product Development Health & Wellness Commercial Platforms
Direct
Q3 2020
Marketing
MicroInsurance Risk Assessment
Working Together to Accelerate the Digital Transformation of Insurance

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Users are able to click through map logos to access digital booths on ITD
https://www.the-digital-insurer.com/dynamic-insurtech-maps/
Hong Kong’s Dynamic InsurTech Map IT’S DYNAMIC - CLICK AWAY!
Value Chain Innovations New Digital Business Models
InsurTech Supporters
Learning
Ecosystems
Comparison Sites
Source: FTAHK & TDI Analysis using TDI InsurTech Directory. Disclaimer : Not claiming to be exhaustive and may include InsurTechs that are no longer active. Please let us know if you think we need to make a change.
Sales
Industry / Govt Bodies
P2P & Community
Financing Hubs & Events
Underwriting & Risk Mgt
Administration / Systems
Analytics
Product Development Health & Wellness Commercial Platforms
Direct
Q3 2020
Marketing
MicroInsurance Risk Assessment
Working Together to Accelerate the Digital Transformation of Insurance

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InsurTech Analysis – deeper dive
TDI Academy – learning for the digital age
https://www.the-digital-insurer.com/dia/

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Poll 5 - Do you want to volunteer?
Would you like to volunteer to help to analyse InsurTechs
and improve InsurTech maps?
Response options
1. Yes, I’m interested
2. Possibly, please send me more information
3. Not at the moment

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TDI 2021 Insurer & InsurTech Innovation awards
Applications are open until 31st March, 2021
https://www.the-digital-insurer.com/tdi-2021-awards/home/

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TDI Academy – virtual L&D platform on digital insurance
Common Core Curriculum
of 56 hours
Interactive: Click on lesson title to get more info
7 x 8 one-hour lessons On-demand 24x7 MCQs for each Range of Industry Experts
= Participant rating (out of 10)
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https://www.the-digital-insurer.com/tdi-academy/prime-lessons/
1. OUR CHANGING
WORLD
2. TECH ENABLERS
3. DATA &
ANALYTICS
4. VALUE CHAIN
INNOVATIONS
5. NEW DIGITAL
BUSINESS
MODELS
1.1 4th Industrial
Revolution
1.2 Our Connected
World
1.3 Power
of Social
1.4 Changing
Consumer
Behavior
1.5 More Change
Coming
1.6 Why Data
is King
1.7 Cloud
Crushes Costs
1.8 Insurance
Re-booted
2.1 Tech Trends in
Insurance
2.2 AI, Machine
Learning & RPA
2.3 Blockchain
2.4 IoT
2.5 Chat &
Voice
2.6 Immersive
Technologies
2.7 APIs &
Microservices
2.8 Tech Architecture
Best Practices
3.1 The Power
of Data
3.2 Python
Basics
3.3 Python
Intermediate
3.4 Data Visualization
& Example Tools
3.5 Machine Learning
3.6 D&A Use Cases
- P&C
3.7 D&A Use Cases
- Life & Health
3.8 Predictive
Modelling
4.1 Sales Tools for
insurance Agents
4.2 Underwriting
- Life & Health
4.3 Underwriting
- P&C
4.4 Product
Development
4.5 Service &
Administration
4.6 Claims
- Life & Health
4.7 Claims - P&C
4.8 Implementing
Value Chain
Innovations
5.1 Platforms &
Ecosystems
5.2 Microinsurance
5.3 On-demand
Insurance
5.4 Comparison
Sites
5.5 Peer-to-peer
& Community
5.6 Health &
Wellness
5.7 Commercial
5.8 Building New
Digital Business
Models
6. MARKETING &
CUSTOMER
EXPERIENCE
7. STRATEGY &
TRANSFORMATION
6.1 Data-led
Marketing
6.2 Direct Digital
Marketing
6.3 Digital Marketing
for Advisors
(O2O)
6.4 Power of
Content
6.5 Omni Sales
& Servicing
6.6 Customer
Lifetime Value &
Customer Advocacy
6.7 Customer
Experience
6.8 Out-of-industry
Use Cases
7.1 Why Strategy
Beats Execution
7.2 Regulations &
Ethics in a Digital
World
7.3 Transforming
the Old vs
Building the New
7.4 Partnership in
a Digital World
7.5 Change
Management as a
Discipline
7.6 Agile & Lean
Basics
7.7 Cultural Change
for a Digital World
7.8 How to Succeed
When Most
Transformation Fail
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9.0

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www.the-digital-insurer.com
TDI Academy – virtual L&D platform on digital insurance
Digital insurance L&D Platform
Virtual
On-Demand
Preferential
Membership Certificate Mini-MBA
TDI PRIME – affordable annual membership – bring digital insurance to all your team
TDI Academy programmes

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Poll
Q. How interested are you in virtual learning & development programs
on digital insurance?
Response options:
1. Yes - for me & my company
2. Yes - for me
3. Yes - for my company
4. No - I think we know enough in this space
Poll 6 – Interest in TDI Academy
Working together to accelerate the digital transformation of insurance

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Poll
Next TDI Webinar coming up
Working together to accelerate the digital transformation of insurance
https://www.the-digital-insurer.com/tdi-
webinars/
Digital Marketing in China
18th March
5:30pm SG/HK

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Poll
TDI Webinars – Now available on-demand
Working together to accelerate the digital transformation of insurance
https://www.the-digital-insurer.com/events/
Partnering for
success in a digital
world
L&D in a Digital
Age
Insights to Solutions
Digital Underwriting
Partnering for
success in a digital
world
Talking Insurance
Tech
Omni Advisor – The
Future of Agency

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Feedback please!
Three ways
 At end of webinar using survey
 When you receive the recording link
 To TDI individually

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Contact Details
TDI Academy – learning for the digital age
Hugh Terry hugh.terry@the-digital-insurer.com
Paul Brenchley paulbrenchley@kpmg.com.sg
Tris Rasika tris.Rasika@fwd.com
Cleosent Randing cleosent@pasarpolis.com
Budi Tampubolon budi.tampubolon@inhealth.co.id
Hastanto SM Widodo hsm.widodo@asuransibintang.com

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Thanks for your time!
(feedback please)
Digital Insurance in Indonesia
24th February 2021