Tap Insure Officially Appoints Muhammad Ichsan As President Director

JAKARTA - Tap Insure, a leading digital insurance provider company in Indonesia, is very enthusiastic about the joining of Muhammad Ichsan as the new President Director.

This appointment marks Tap Insure's strategic steps in accelerating growth in the Indonesian insurance market which is projected to reach IDR 623.2 trillion by 2025 according to Mordor Intelligence with low insurance penetration rates below 3 percent.

Muhammad Ichsan brings more than 30 years of experience in the Indonesian insurance industry, including leadership at PT Mitra Sentosa Parama Abadi Insurance Broker, PT Asuransi Umum Vvei as Technical Director, and various key positions in well-known insurance companies such as PT Asuransi Tugu Kresna Pratama and PT Estika Jasatama.

In addition to extensive operational experience, he is also active in various insurance associations such as APPARINDO and AAUI, which strengthens deep understanding of industry governance and regulatory standards.

He is ready to lead Tap Insure towards a further growth phase with a focus on product development, operational efficiency, and a more effective, affordable, and easy customer insurance experience - as simple as #TapINAJa.

Muhammad Ichsan's presence is in line with the growth momentum of the general insurance segment which is projected to grow 11 percent during the 2024-2029 period, driven by the increasing adoption of digital platforms growing by 14 percent and public awareness of insurance protection.

"I joined Tap Insure at the right time when the Indonesian insurance industry underwent a fundamental transformation. With insurance penetration which is still below 4% of GDP, there is a great opportunity to reach the generation of Millennials and Gen-Z who are digitally literate but require a simple, affordable, fast, and reliable insurance solution," said Muhammad Ichsan, in his statement, Thursday, May 29.

He announced that the first year his leadership would focus on strengthening the company's digital foundation as well as improving customer experience. He also emphasized the importance of developing digital platforms that are more responsive to consumer needs, expanding distribution channels based on strategic partnerships, and increasing insurance literacy through an educational and inclusive approach.

"The changes I bring will be highly oriented towards customer / policyholder needs, as well as encouraging Tap Insure to become a pioneer in opening access to affordable and adaptive insurance protection in the digital era," he added.

Responding to the increasingly fierce competition challenges in the digital insurance industry, Muhammad Ichsan said that Tap Insure will continue to prioritize innovations based on a deep understanding of consumer needs and behavior.

"Belief, speed, and convenience are the three main pillars in winning the hearts of the people in the midst of the intense competition in this digital era," he said.

Tap Insure is committed to developing technology-based solutions that facilitate access, as well as providing personal, transparent, and relevant experiences. In addition, the company will also continue to collaborate with strategic partners from various sectors to expand distribution and increase the added value of digital insurance services.

In facing the challenges of the times, Tap Insure will integrate advanced technologies such as Artificial Intelligence (AI) and automation, to improve operational efficiency and provide faster, safer, effective, and personal experiences for customers/middleholders.

"We will optimize AI and machine learning for product personalization, improve customer service through smart chatbots, as well as detect suspicious claims to reduce fraud risk," explained Ichsan.

In the future, Tap Insure will focus on three key factors in its business growth in the next one to three years, namely product innovation, expansion of the digital ecosystem, and strengthening public literacy and trust in digital insurance.

"With a strategy that focuses on developing relevant and affordable products, synergies with digital partners, as well as inclusive education for the community, we are optimistic that Tap Insure can continue to grow sustainably and become the main choice for the Indonesian people in meeting their insurance protection needs as simple as #TapInAja," concluded Muhammad Ichsan.