Sales of Life Insurance Products in Indonesia: InsurTech and Traditional Insurance Agents

Debrina Ferezagia

2019

Abstract

This study aims to overview life insurance market development in industry 4.0. It also attempts to examine the utilization of insurance technology and what competencies must be owned by insurance agents. The authors collected literature on insurance technology, which is used in Indonesia. Then, the author interviewed 15 respondents who often use the insurTech application to see what factors influence the response of the portal. The data found is processed using descriptive statistical methods. Based on the results, the insurance market has implemented the “4.0”. Insurance sales distribution in Indonesia with the hybrid method is to combine the internet and face to face. Futuready has a portal with attractive, user-friendly, complete product sales, whereas the online portal provides complete premium simulation, namely Cekpremi. Insurance agents are still needed as an intermediary between customers and the insurance industry. The competencies of insurance agents are knowledgeable of law/regulation, skills in implementing codes of ethics, knowledge of life insurance, knowledge of products, skills/expertise of marketers, and personal development. This paper contributes to marketing insurance management. The use of Insuretech in the insurance marketing process will increase, but currently, Insuretch will not replace the role of the insurance agent.

Paper Citation

in Harvard Style

Ferezagia D. (2019). Sales of Life Insurance Products in Indonesia: InsurTech and Traditional Insurance Agents. In Proceedings of the 4th International Conference of Vocational Higher Education - Volume 1: ICVHE, ISBN 978-989-758-530-2, pages 59-63. DOI: 10.5220/0010029700002967

in Bibtex Style

@conference{icvhe19,
author={Debrina Ferezagia},
title={Sales of Life Insurance Products in Indonesia: InsurTech and Traditional Insurance Agents},
booktitle={Proceedings of the 4th International Conference of Vocational Higher Education - Volume 1: ICVHE,},
year={2019},
pages={59-63},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0010029700002967},
isbn={978-989-758-530-2},
}

in EndNote Style

TY - CONF

JO - Proceedings of the 4th International Conference of Vocational Higher Education - Volume 1: ICVHE,
TI - Sales of Life Insurance Products in Indonesia: InsurTech and Traditional Insurance Agents
SN - 978-989-758-530-2
AU - Ferezagia D.
PY - 2019
SP - 59
EP - 63
DO - 10.5220/0010029700002967