Not Bored, Erick Thohir Reminds Moral Principles To Insurance BUMN: To Be Trusted By The Public

JAKARTA - State-Owned Enterprises (BUMN) Minister Erick Thohir welcomed the formation of the IFG Progress think tank for the development of the financial services sector.

According to him, the institution established by the insurance holding and guarantee holding of the Indonesia Financial Group (IFG) can accelerate the transformation process of state-owned companies.

"The formation of IFG is a form of comprehensive BUMN transformation based on morals, trustworthiness, competence and adaptability," he said in a virtual press conference some time ago.

According to Erick, the presence of IFG and IFG Progress is a solution as well as a concrete step in creating a conducive business climate in the financial services industry sector.

"This is a comprehensive sectoral reform for a financial services industry that is professional, strong, trusted by the public, and also follows the times that are globally competitive," he said.

On that occasion, the Mahaka boss also said that domestic BUMNs did not need to hesitate to imitate foreign companies that were proven to be able to carry out corporate principles well.

"Like Ping An (an insurance company from China) who could be in the top ranks of the Fortune 500. They can be so advanced thanks to their professional administration, innovation, and the ability to use technology," said Erick.

Especially technology, he revealed that these elements are strategic enough in developing business today and in the future.

"Technology makes us more adaptive to be able to understand and in line with changes in consumer behavior," he added

Erick hopes that IFG and the financial services sector in Indonesia as a whole can transform and innovate following the times so that they become pillars of economic strength.

"These benefits will not only be felt by customers, but also provide value to shareholders and society," he said.

For information, the Indonesia Financial Group itself is a state-owned insurance and underwriting holding consisting of PT Jasa Raharja, PT Indonesian Credit Guarantee (Jamkrindo), PT Asuransi Kredit Indonesia (Askrindo), PT Jasa Asuransi Indonesia (Jasindo).

Then, PT Bahana Sekuritas, PT Bahana TCW Investment Management, PT Bahana Artha Ventura, PT Bahana Kapital Investa and PT Graha Niaga Tata Utama.

IFG is a holding that was formed to play a role in national development through the development of a complete and innovative financial industry through investment, insurance and guarantee services.

"The journey of transforming our economy, our BUMN, and our financial services industry to get stronger requires comprehensive thinking, synergy, and good governance,"

"God willing, we can overcome all challenges, maximize potential, and achieve the progress that Indonesia aspires to," concluded Erick Thohir.