Total AAJI Claims Grows 26.1 Percent

INDUSTRY.co.id - Jakarta - The life insurance industry remains committed to fulfilling its responsibilities in paying claims and benefits.

Head of Best Practice Sector AAJI Rianto Djojosugito said, in the fourth quarter of 2017, total claims and benefits grew 26.1%, to Rp. 121.08 trillion compared to the same period in 2016 of Rp. 96.05 trillion.

"Claims of the Reduced Value (Surrender), in the fourth quarter of 2017 increased by 28.6% compared to the previous year to Rp. 67.28 trillion, this claim has the largest proportion in payment of claims and benefits, which amounted to 55.6%," he said in Jakarta, Friday (16/3/2018).

He said the increase is expected because of the increasing public demand for cash to meet daily needs.

Partial Withdrawal claims, he continued, also experienced growth, increased by 28.9% over the same period in 2016, to Rp. 17.49 trillion and contributed 14.4%.

While health claims (medical), recorded increased 0.7% to Rp. 9.35 trillion, this increase is due to increased personal health claims by 5.3% in the fourth quarter of 2017.

"As many as 54.4% of medical claims come from health insurance products collection and the remaining 45.6% comes from individual health insurance products," he said.