Prudential Indonesia Empowers More Than 20 Million Indonesian Women Smart Financial Management

Photo: Doc. Prudential Indonesia

JAKARTA - During 29 years of travel in Indonesia to strengthen her commitment to become a trusted partner and protector for today's generation and later and in line with her commitment to encourage financial literacy and encourage Indonesian women to be financially strong, PT Prudential Life Assurance (Prudential Indonesia) collaborates with the Financial Services Authority (OJK) and the Sharia Economic Community (MES) to hold a Financial Literacy for Women'' activity in Jakarta, with the title Financial Management, Age Safe'.

This activity managed to reach more than 1,000 participants who attended, both in person and online through the Zoom and YouTube platforms.

This activity is a series of 'Financial Literacy for Women' programs that have been taking place in several major cities in Indonesia since August 2024, including Kendal, Pekalongan, Bogor, Tangerang, Purwakarta, Batam, and Jakarta, the Financial Literacy for Women program has reached more than 6,000 participants. Since its launch in 2009, this program has reached more than 65 thousand female participants and more than 20 million awareness on social media.

Through this activity, it is hoped that it can encourage financial literacy and insurance for Indonesian women, so that women can be more economically independent, plan the future better, and strengthen family financial resilience in the long term.

Karin Zulkarnaen, Chief Customer & Marketing Officer, Prudential Indonesia, said Prudential believed that Indonesian women have a very important role to play in encouraging the economy of families and countries.

"Indonesian women who are financially literate, including insurance, as well as smartly planning the finances of individuals and their families, will be more resilient in facing various challenges and risks of life. Prudential consistently collaborates with various parties, including OJK and the Islamic Economic Community this time, to reach more and more Indonesian women to be financially literate so that they can be more financially empowered," Karin said, quoted Thursday, November 20.

This initiative is also in line with the GENERANK (National Financial Smart Movement) program from the OJK in order to increase financial literacy and insurance evenly in Indonesia. We believe insurance should not only be seen as a financial product, but as an important safety net that protects families from various risks in the future. So that with people who have the ability to manage their finances, they can realize a more resilient and prosperous financial condition," Karin added.

In addition to encouraging women to be smarter and more economically independent, financial education activities also aim to continue to improve financial literacy and inclusion for women. Data shows that Indonesian women currently have a slightly higher financial understanding than men.

Based on the results of the 2024 OJK National Literacy and Financial Inclusion Survey (SNLIK), the Indonesian Women's Financial Literacy Index reached 66.75 percent, higher than men by 64.14 percent. Meanwhile, the Indonesian Women's Financial Inclusion Index reached 76.08 percent, higher than men by 73.97 percent.

Cecep Setiawan, Director of Financial Literacy and Education, Financial Services Authority (OJK) appreciates Prudential Indonesia's commitment to increasing financial literacy, especially for women.

"We believe that women who are intelligent in managing finances from an early age will become financial literacy ambassadors in society, which can start from educating their family members to be smart in managing finances. In addition, we realize that even though the Financial Literacy Index has shown improvement, understanding of financial products such as insurance still needs to be strengthened. Insurance is a very important tool to provide long-term financial protection, and a good understanding will help the community, especially women in realizing their future in a safer and more prosperous manner," he explained.

Furthermore, Rista Zwestika, Certified Financial Planner MES in the Financial Literacy for Women Jakarta activity today stated that financial literacy education is the first step towards financial independence, especially for women.

"With a better understanding of finance, every woman can plan the future and realize financial security, both for herself and her family. Financial literacy provides them with control over wiser financial decisions, and this is one of the keys to achieving long-term prosperity," he said.

In addition to educating Indonesian women through the 'Financial Literacy for Women' program, during November 2024 Prudential Indonesia also carried out a series of financial education to various groups, including teachers and young people.

On November 2, Prudential Indonesia collaborated with the Teacher Teaching Foundation in providing education to more than 5,000 teachers from all over Indonesia who participated in the activities of the Nusantara XI Educators in Jakarta who were present in person and online. As an effort to encourage the welfare of teachers, in this activity teachers are given insight into the importance of financial planning, ranging from managing savings, investment, to protection through insurance.

Teachers who are able to manage their finances more wisely are expected to improve their quality of life, so that they can continue to have a positive impact through their professions and be ready to face various financial challenges in the future.

In addition, Prudential Indonesia also collaborated with Great Nusa by Bina Nusantara University (Binus) on November 8, 2024, which reached more than 240 students. In this session Prudential Indonesia provides financial education in the digital era, ranging from various tips on managing finances for young people, such as smart ways to regulate finances in the midst of a high lifestyle, the importance of managing budgets, investing, getting to know insurance, planning early retirement, to tips for entrepreneurship.

"Predential Indonesia is committed to continuing to contribute in building a society that is increasingly financially resilient. One of the efforts made is to increase financial literacy, for women, young people, and various other groups, so that they can manage personal finances more intelligently. This year Prudential Indonesia has reached more than 240,000 participants, both women and housewives, the MSME community, students, students, and disability groups. We will continue to collaborate with various parties because only with strong literacy, we can create people who are more prepared to face financial challenges in the future," Karin concluded.