Build Public Awareness, IFG Stimulates Financial Inclusion Through Micro And Digital Insurance Innovations

Photo: Doc. IFG

JAKARTA - Indonesia Financial Group (IFG) continues to strengthen its commitment to increasing insurance literacy and inclusion in Indonesia in order to expand long-term financial protection for all levels of society, especially the lower middle class.

Currently, IFG houses 10 holding members consisting of PT Asuransi Kredit Indonesia (Askrindo), PT Bahana Sekuritas, PT Bahana TCW Investment Management, PT Bahana Artha Ventura, PT Grahaniaga Tatatama, PT Bahana Kapital Investa, PT Asuransi Jiwa IFG (IFG Life).

IFG Corporate Secretary Denny S. Adji said that the strategy for increasing inclusion was carried out through a holistic approach that included three main pillars, namely empowering education, affordable and accessible product innovation, and sustainable collaboration with various stakeholders.

He conveyed that in the educational pillar, IFG actively organizes literacy programs that directly target young family groups, MSME players, the younger generation in the strategic sector, and sharia-based communities.

According to him, education is given not only in the form of theory, but also through practical simulations that are easy to understand, such as how insurance can protect food stalls from losses due to disasters, or how life insurance plays a role in maintaining the sustainability of the family's economy.

Next to the innovation pillar, IFG presents various micro insurance products or sachets with affordable premiums through holding members such as IFG Life and Jasa Raharja Putera.

Denny gave an example, such as LifeSAVER products that provide protection against injuries due to accidents with premiums ranging from IDR 25,000 per month, as well as the Third Party Liability (TPL) which protects drivers from the risk of loss due to accidents to third parties.

Furthermore, the third pillar, he said, was realized through a strategic partnership with regulators, companies, universities, and local communities.

According to him, this collaboration not only supports the spread of education, but also the development of simple, inclusive, and in accordance with people's purchasing power.

"These products are adjusted to people's purchasing power and specific needs, ensuring that financial protection can be accessed widely and easily. An example is micro insurance offered by holding members such as Askrindo, which guarantees convenience for MSMEs with affordable premiums," he told VOI, Saturday, October 4.

In supporting digital transformation, IFG develops the One by IFG application, which integrates life insurance services, general insurance, investments, to online health consultations.

Denny said that this application is designed to reach the wider community by overcoming geographical obstacles and providing easier access to financial services.

"This application integrates various financial products and services from IFG holding members, both life insurance, general insurance, investment, and access to digital health services, even to online consultations with doctors," he explained.

In addition, IFG also relies on internal research institutions, namely IFG Progress, as a data-based policy study center and formula. This institution routinely conducts research to identify literacy and inclusion gaps, as well as evaluate the effectiveness of the program being implemented.

"IFG Progress is a eye and ear' as well as a map maker'' for our strategy. This research institute has a crucial role. IFG Progress routinely conducts scientific research and studies that serve as the basis for evaluating the level of insurance literacy in Indonesia, identifying the gap between literacy and inclusion and analyzing the factors that influence it," he said.

Denny said that IFG contributed to improving the national insurance literacy and inclusion index.

Based on the National Survey of Financial Literacy and Inclusion (SNLIK) by the OJK, the insurance literacy index increased from 36.90 percent to 45.45 percent in 2025, while the inclusion index rose from 12.21 percent to 28.5 percent.

"IFG and holding members continue to strive to overcome misconceptions around insurance in the community. Although it is not a target number, this is an important qualitative indicator that supports increasing long-term insurance inclusion," he said.

He conveyed that by increasing understanding, it is hoped that more people will be willing and able to access insurance products.

In the future, IFG targets that in 5 years there will be a significant increase in penetration of insurance products, strengthening financial literacy, developing digital solutions, and cross-sector strategic cooperation.

According to him, all of these efforts will continue to be monitored and evaluated by IFG Progress to ensure its effectiveness and impact on society.

"The IFG will continue to monitor these indicators through continuous research from IFG Progress to ensure the effectiveness of its strategy. Each of these targets is closely monitored by IFG Progress, and becomes a compass for all holding members to move together," he concluded.