Video: Testing Insurance Readiness Towards 'Next Generation Insurance'

The Financial Services Authority (OJK) continues to drive the transformation of the insurance industry in response to the ever-evolving needs of policyholders through the development of adaptive business models, one of which is the development of Next Generation Insurance.

The General Chair of the Indonesian Insurance Council, Yulius Bhayangkara, stated that the concept of Next Generation Insurance is related to efforts by the insurance sector to become increasingly relevant to the era and generation of customers in Indonesia.

Efforts to build engagement between the insurance industry and the next generation must be established now through three key aspects. First, strengthening the insurance foundation, which includes capital, Risk Based Capital (RBC), and PSAK 117. Second, enhancing capabilities through human resource skills and technology. Third, improving the ‘engagement’ aspect of insurance in producing products that align with increasingly diverse customer needs.

What does the insurance industry look like in terms of developing next generation insurance? For more details, watch the dialogue between Shania Alatas and the General Chair of the Indonesian Insurance Council, Yulius Bhayangkara, on Power Lunch, CNBC (Wednesday, 10/09/2026).