Insurance -- providing safety in troubled times<\/p>\n
The insurance industry in Indonesia is looking to the
\ndeveloped world, where insurance is universal and considered a
\nnecessary part of life, as a model for its future growth.<\/p>\n
Massive riots which hit Jakarta and other major cities across
\nthe country in May 1998, and the ensuing economic crisis have
\nbeen both a blessing and a curse to Indonesia's insurance
\ncompanies.<\/p>\n
The staggering amount of damage and loss suffered during the
\nriots translated into a breathtaking number of claims being filed
\nwith insurance companies. The insurance industry clearly suffered
\nsome damage during this time.<\/p>\n
The ongoing economic crisis has also hurt insurance companies.
\nMost people are too concerned with day-to-day survival to worry
\nabout their futures, leading to an increase in the number of
\npeople canceling their policies.<\/p>\n
While the industry has suffered, the May riots also served to
\nraise people's awareness on the necessity of insurance. The fact
\nhas been proven constantly and tragically over the last year that
\none's health, life and property can be destroyed without warning.<\/p>\n
While it is unpleasant to think about what would happen if you
\nwere killed or your business burned down, it is even worse to
\nconsider you and your loved ones fates if these tragedies struck
\nand you were not insured. Not only would you be struck by the
\ninitial tragedy, if you did not have insurance, you could then be
\nhit with financial ruin.<\/p>\n
While awareness of the need for insurance has risen, the
\ninsurance industry recognizes that the country still has a long
\nway to go before it is on an equal level with developed
\ncountries.<\/p>\n
That is why many insurance companies are focusing on
\nmarketing. They realize that the industry's future growth depends
\nnot on simply selling policies, but on selling the idea of
\ninsurance.<\/p>\n
Hand in hand with selling the need for insurance is selling
\nthe industry itself. In Indonesia, as in the rest of the world,
\ninsurance companies are perceived as being difficult to deal with
\nand rather reluctant to pay claims.<\/p>\n
The perception that insurance companies try to bury
\npolicyholders beneath a mountain of paperwork in order to kill
\ntheir desire to file a claim is a notion which the industry is
\nattempting to eradicate.<\/p>\n
To this end, insurance companies are streamlining the process
\nfor filing a claim and improving the quality and skills of their
\nhuman resources.<\/p>\n
Insurance today is a necessity rather than a luxury. While it
\nis impossible to insulate yourself from the harsh realities of
\nthe world, you can insure that no matter what happens, you and
\nyour loved ones will be able to pick up the pieces and resume
\nyour lives. Insurance gives you the peace of mind of knowing that
\nyour life will go on. David Eyerly<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/insurance-providing-safety-in-troubled-times-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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