Indonesia is the country with the fourth largest population in the world, while only 4% of the total population of Indonesia who already has a life insurance policy on its own behalf. So, the opportunity to be successful in this business is very large, considering there are still very few who take life insurance.
Indonesia has 133 million inhabitants of the upper middle class and its numbers are increasing. Improved living standards and improved economic levels have made many people more aware of the importance of insurance. Rising economic levels are also accompanied by higher levels of education that lead to more and more people who are aware of the importance of preparing for the future by using life insurance.
Other data that support the potential of the insurance business is almost 60% of investors in Indonesia have no retirement plan. So by targeting investors who have more funds, insurance business can grow better. In addition, the government also supports the development of the insurance industry through the Financial Services Authority (OJK) by prioritizing educational programs to provide more awareness to the public about the importance of insurance.
Insurance Business Opportunities in the Area Still Very Great
The potential of insurance business opportunities in Indonesia is higher with survey results that prove most insurance policy holders are in big cities. As for the small towns and areas are still many unspoiled.
When compared to neighboring countries such as Malaysia and Singapore, then as many as 45% to 50% of the population already hold the insurance policy. Even in Japan, where every resident on average has almost 3 insurance policies. So in the long term, insurance business in Indonesia has a very bright potential.
If some of us assume that the people of Indonesia still do not understand the importance of insurance, does not mean to be a barrier for us to run this business. Precisely with the lack of information about the importance of insurance, will be a great potential for us to enter.
Imagine, if people already understand how insure the insurance needs to be, then the company no longer need to hire agents, they just need to open a stand for information and registration services, then people will come by themselves. With the low awareness of community insurance, it becomes a great opportunity for us to earn high sales commissions and big annual bonuses.