The 13th Asia Insurance Brokers’ Summit began in Jakarta, Indonesia, on April 24, 2025, under the theme “Brokers 4.0: Getting Future Ready for the Next Decade.”
In his opening remarks, Yulius Bhayangkara, Chairman of the Association of Indonesian Insurance and Reinsurance Brokers, stressed the importance of collaboration. He said that by working together and sharing both ideas and experiences, (re)insurance brokers can better understand today’s global challenges and serve clients more effectively.
“There is a lot of uncertainty in the economy today,” said Mr. Yulius. “But when we work together and share our successes and failures, I believe it will make Indonesia stronger.”
He also pointed out a shift in the broking industry’s role. Brokers are moving away from simply completing transactions and toward becoming more consultative and strategic.
“We aim to move beyond just selling insurance products,” he said. “We want to become solution providers—for our clients, insurers, reinsurers, and even regulators.”
A Push for Industry Reform
Ogi Prastomiyono, Chief Executive for Insurance, Surety, and Pension Fund Supervision at Indonesia’s Financial Services Authority (OJK), noted that the insurance sector has fallen behind in some areas.
“This year, we want to push for real transformation,” Mr. Ogi said. “But we can’t do it alone. We need the support of associations, market players, and insurers.”
He highlighted several government-led efforts to support the industry. These include a five-year plan to grow insurer assets and new regulations to improve risk management and governance across the sector.
Mr. Ogi also addressed the evolving role of brokers. He said they could be more efficiently used in the market through better technology, innovation, and improved delivery of information, supported by strong human resources.
According to the OJK, as of December 2024, Indonesia’s (re)insurance brokers held assets totaling IDR 21.34 trillion (about $1.3 billion). The country is home to 150 insurance brokers and 41 reinsurance brokers.
The summit, organized by Asia Insurance Review, runs from April 24 to 25, 2025, in Jakarta. It brings together industry leaders to discuss the future of broking in an increasingly complex world.
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