New Phenomenon: Behavioural Shift Observed Among Vehicle Insurance Users

Jakarta - The President Director & Chief Executive Officer of Oona Insurance Indonesia, Vincent Soegianto, has observed a shift in the behaviour of vehicle insurance users in the country. Whereas previously the need for protection was focused solely on the vehicle, attention is now beginning to shift towards the risks faced by the vehicle user, including personal accident cover.

‘What has happened, an interesting shift on our side in the last semester, is an increase in the need for personal accident risk cover and for the borrower themselves,’ Vincent said during the Multifinance CEO Gathering 2026 with OJK, themed ‘Navigating Uncertainty: Maintaining Multifinance Business Performance Amidst Economic Challenges and a Changing Risk Landscape,’ at Parle Senayan on Tuesday (11/8/2026).

He stated that this shift in needs means protection is no longer directed only at the vehicle unit. In this context, protection is also provided to the vehicle user or the borrower. As a result, he is endeavouring to support the insurance industry in underwriting the risk of the borrower.

‘So instead of the vehicle being protected, the borrower is also protected. That is a shift that we are also trying to support the industry with, so that we can also help guarantee the risk of the borrower,’ he explained.

On the other hand, Vincent assessed that the presence of insurance companies has now evolved, no longer positioning themselves merely as vendors for multifinance companies. More than that, insurance companies must also engage with various parties to be able to create products that meet market needs.

‘Now we are more in a three-party discussion between the ATPM, the finance company, and the insurance company to be able to come up with a product that is acceptable in the market, affordably priced, and at the same time the risk is good for all parties involved. So I think we have become a strategic partner,’ Vincent clarified.

Furthermore, he added that insurance companies are fundamentally closely linked to the multifinance industry. Therefore, solid communication is the main key to maintaining growth in the industry.

‘As an insurance company, we live off our multifinance colleagues, so indeed the key is communication so that we can work together, enabling this industry to run healthily and, most importantly, customers also get the right protection,’ he concluded.