Absorb The Complaints Of Customers, OJK ISSUEs A Strong Warning For WanaArtha And Kresna Life

Member of the OJK Board of Commissioners for Education and Consumer Protection, Friderica Widyasari Dewi. (Photo: Screenshot/Theresia Agatha)

The Financial Services Authority (OJK) emphasized that WanaArtha Life and Kresna Life must follow up on various customer complaints.

Strictly speaking, OJK will also impose written warning sanctions, if the two insurance companies are late or do not follow up on complaints from customers.

Member of the OJK Board of Commissioners for Education and Consumer Protection, Friderica Widyasari Dewi, said that OJK had also held a meeting with WanaArtha Life consumers.

"Until this morning, we were still meeting with consumer representatives from PT WAL. Before (Revolving Business Permits) CIU, we held five meetings and after CIU, we held a meeting to explain how to revoke business licenses and also impact them on consumers," he said at the Non Bank Financial Industry Development Press Conference (IKNB) monitored online, on Thursday, February 2.

OJK has also brought together Kresna Life with customers, including asking the company to explain to policyholders about the company's financial restructuring plan (RPK).

"Providing written warning sanctions to Kresna and then also together with his team Mr. Ogi, held a meeting to discuss the RPK (Financial Restructuring Plan) from Kresna," said Friderica.

To avoid recurring problems, said Friederica, his party also continues to strengthen consumer protection efforts, one of which is by issuing balanced consumer protection arrangements, through the issuance of OJK Regulation Number 6 of 2022 concerning Consumer Protection and the Community in the Financial Services Sector.

In line with this, the OJK also continues to strengthen market conduct supervision, in accordance with the mandate of Law Number 4 of 2023 concerning the Development and Strengthening of the Financial Sector.

In addition to efforts to strengthen market conduct regulations and supervision, OJK is committed to continuing to carry out massive financial education programs.

Throughout 2022, OJK has carried out 1,897 financial education reaching 9.1 million participants.

In the insurance industry, OJK continues to encourage insurance companies to be able to optimize the internal function of dispute resolution, so that consumer complaints or complaints can be handled and resolved properly in order to prevent potential reputation risks for companies and the national insurance industry sector.

As of December 30, 2022, OJK has received 315,783 services, including 14,764 complaints, 92 complaints indicated violations, and 3,018 disputes that were included in the SJK LAPS.

"From these complaints, 7,252 or 49 percent are complaints from the IKNB sector. OJK has followed up on the complaint," added Friderica.

In addition, throughout 2022, OJK has also monitored 21,373 advertisements for the financial services sector and found 460 advertisements that violate applicable regulations.

"In this regard, the OJK has issued a letter of guidance and an order to stop the inclusion of advertising materials to PUJK-PUJK whose advertising materials do not comply with the provisions," he concluded.