Life Insurance Association Supports Launch of Policy Guarantee Programme Starting 2027

JAKARTA, KOMPAS.com - The Indonesian Life Insurance Association (AAJI) supports the launch of the policy guarantee programme being implemented next year. AAJI Board Chairman Albertus Wiryono Karsono stated that the implementation of the policy guarantee programme by the Indonesia Deposit Insurance Corporation (LPS) still faces various challenges. “I think if we work together, we can overcome them; our target remains 2027, and we can launch it,” he said after the press conference on the 2025 Life Insurance Industry Performance Report in mid-March. “It’s relative; better than nothing at all, as the important thing is that we want insurance to become part of society,” he added. Albertus further noted that this policy guarantee programme has been implemented in neighbouring countries like Malaysia. “We see this as positive if Indonesia can apply it,” he said. He believes that with this programme, public trust in the insurance industry is expected to increase. “Because in banking there is LPS, life insurance, which holds long-term public funds for long-term needs, also needs an LPS,” he explained. The contributions are hoped to be able to guarantee existing insurance policies without burdening the insurance industry. “That balance is currently being sought,” he concluded.