Jagandiri Insurance In Collaboration With West Java Jamkrida By Providing Financial Protection Riko Failed To Pay

Insurance Cooperation

Banking credit growth is currently increasing. Bank Indonesia (BI) noted that bank credit growth in July 2024 reached 12.40% year on year. BI also estimates that bank credit will grow in the 11-13 percent range by 2025. This growth is supported by investment credit growth, working capital credit, and consumption loans.

Bank credit growth is an opportunity for insurance companies to focus on working on the Life Insurance Credit market, one of which is Jagandiri Insurance in collaboration with PT Jamkrida West Java by providing financial protection from the risk of default due to death due to illness or accidents for bank customers in collaboration with PT Jamkrida West Java through loan life insurance products.

Jagandiri Insurance Operations Director Priska Sari Kurniawan revealed that this collaboration is a form of his commitment to provide wider protection to the community.

"We are proud to be working with PT Jamkrida Jabar to provide protection in the form of Life Insurance on Credit which can be a protection solution from the risk of default," Priska explained.

Jagandiri Insurance targets this Life Insurance Credit product to contribute 10-15% of total revenue by 2024.

"After collaborating with PT Jamkrida West Java, we will then also work with other parties to continue to expand the reach that we can protect with Jagadari's products," added Priska.

In line with Priska, the Director of Finance (Plt Direktur Utama) of PT Jamkrida Jabar, Agus Subrata, hopes that this collaboration can continue.

"We hope that in the future this cooperation can continue and increase. This is also a form of our commitment to provide the best service for debtors and creditors," said Agus.

Jagandiri insurance noted that the risk-based capital (RBC) health level was at 916.96%, in the second quarter of 2024. This figure exceeds the minimum stipulated by the Financial Services Authority (OJK) which is 120%. This indicates that the company's finances are in good health.