“Heightened risk awareness in Indonesia is fueling more demand for insurance protection. To remain competitive in a dynamic risk environment, enhancing underwriting performance and portfolio steering are key differentiators for insurance organisations,” said Monami Mukherjee, Head P&C Analytics APAC at Swiss Re
Singapore:
Swiss Re, the world’s second-largest reinsurer, has announced a new partnership with state owned Indonesia Re (PT Reasuransi Indonesia Utama) aimed at supporting the underwriting decisions of the members of the National Insurance Data Centre Management Agency (BPPDAN).
The collaboration will provide members with access to Swiss Re’s analytics solutions and risk consulting services and will act as a catalyst for digital transformation of Indonesia’s insurance industry.
“Swiss Re is committed to building resilience as the industry faces significant global change,” said Paul Murray, Swiss Re’s Regional President and CEO Reinsurance Asia.
“As Indonesia plays an important role in Southeast Asia, we see this partnership as a great example of how we can suppport Indonesian insurers to make the country more resilient through digital solutions, beyond traditional risk transfer,” he said.
With more than 70 re/insurers as its members, BPPDAN enables fair and sustainable property insurance pricing by collecting accurate insurance information. The partnership involves development of a market dashboard for BPPDAN to offer its members premium and claims insights at a market and company level.
“Heightened risk awareness in Indonesia is fueling more demand for insurance protection. To remain competitive in a dynamic risk environment, enhancing underwriting performance and portfolio steering are key differentiators for insurance organisations,” said Monami Mukherjee, Head P&C Analytics APAC at Swiss Re.
“Our P&C analytics solutions can support our clients in this process, by consolidating relevant data and translating this into actionable insights in a timely manner.”
The partnership between Swiss Re and Indonesia Re will support the underwriting decisions of BPPDAN members, as well as their strategic planning for risk management and pricing, taking into account major loss drivers.
Delil Khairat, Technical Operations Director at Indonesia Re, said: “BPPDAN’s 30th anniversary this year is marked by the launch of BPPDAN Analytic to support its member companies by enhancing their journey toward science-based underwriting decision making and portfolio management. We would not have realised this ambition without strong partnership with Swiss Re through its world-class analytics solution. This is a vivid evidence that collaboration is the way forward in navigating an increasingly dynamic and complex risk landscape and business environment.