The insurance industry will grow 30 percent

Jakarta, Indonesia - The insurance industry in 2012 will experience growth of approximately 25 percent to 30 percent, said Department Head of Bancassurance Channel Distribution Life Insurance Association of Indonesia (AAJI), Handojo Gunawan Kusuma.

On Wednesday, he said that the increase in growth was driven by increased market share in the segment of the middle class to bottom.

"The population of Indonesia society's fourth largest in the world with 238 million inhabitants. Of this amount still many who do not use insurance," he said.

Seeing its development, he considered, insurers in various parts of the world will continue to experience growth, particularly in developing countries, including Indonesia.

With an average growth of double digits through 2014, according to him, then the total assets of life insurance industry is estimated to reach Rp 500 trillion.

"Until now the industry's total assets had reached Rp249 trillion souls," he said.

Meanwhile, Head of Distribution Channel AAJI, Oemin Handayanto, said that efforts to increase public awareness of insurance must involve all parties, including the government and the insurance company itself.

"The government could help strengthen education in the field, while the insurance companies also do not ever tired to strengthen the performance of his agent," said Oemin.