54th Anniversary, Askrindo Optimizes Business And Is Ready To Face Industrial Challenges

Photo: Doc. Askrindo

JAKARTA - PT Asuransi Kredit Indonesia or Askrindo, a member of Holding Indonesia Financial Group (IFG) held the peak celebration of Askrindo's 54th Anniversary by holding Tasyakuran and Halal Bihalal activities with employees. With the theme 'Together We Achieve Gemilang' Achievement, Askrindo continues to prepare for the existing business challenges.

This theme reflects Askrindo's commitment to strengthening synergy and collaboration for extraordinary achievements in the insurance industry which is in line with Askrindo's vision to become the best and strongest insurance company (Best & Strong), as well as its main strategy and emphasize strong market position and operational excellence.

Askrindo's President Director, M Fankar Umran, said Askrindo's achievements in 2024 were the result of effective strategies and disciplined implementation.

"Companies optimize the Program business as part of a commitment to carrying out government assignments, while increasing non-program business portfolios is an important key and one of the Company's strategic initiatives," said Fankar, in a written statement, Thursday, April 10.

During its 54 years of existence, Askrindo managed to record an impressive achievement with a Gross Premium of IDR 10.2 trillion on a consolidated basis in 2024, and managed to achieve the RKAP target of up to 97 percent despite a decrease of 11 percent compared to the previous year.

The Non-Program business line has shown a significant contribution over the past two years, with a gross premium composition of 30 percent, marking a positive move in accordance with the Company's aspirations to strengthen the Non-Program business portfolio.

Fankar menambahkan Askrindo dengan tantangan semakin complex, lingkungan yang terus berubah, juga exosure terhadap arah kebijakan Pemerintah bidang UMKM dan perubahan regulasi dari Otoritas.

"We have strategic initiatives and transformations in various fields, business transformation and work culture are strengthened by simultaneous rearranging of the organization (organizational design) and restructuring of human capital (workforce restructuring)," added Fankar.

People's Business Credit Guarantee Products (KUR) and Credit Insurance products dominate the Company's performance. Throughout 2024, Askrindo has guaranteed KUR worth IDR 124 trillion, with the number of debtors reaching 2,298,325 MSMEs, which has a direct impact on the absorption of 3,333,866 workers in Indonesia. In addition, Askrindo is also working on Credit Insurance, Suretyship and General Insurance Products, which contribute significantly to the Company's revenue.

He explained, in 2024, the Company's revenue from Credit Insurance products was IDR 984 billion and a certaintyship of IDR 238 billion, which had a positive impact on the development of credit insurance and suretyship in Indonesia.

"This also confirms Askrindo's position as market player by ranking 1 in the Credit Insurance segment, Suretyship, and making him a major player in the general insurance industry," explained Fankar.

Askrindo continues to establish Business synergies to expand its market share and continue to innovate in product development and services in order to boost business performance and expand access to insurance protection for various segments of society.

Askrindo launched micro insurance as a solution by offering more affordable and accessible protection, including My House Micro Insurance, Micro Business Insurance, Maritime Micro Insurance and Food Toxic Insurance. In addition, Askrindo also innovated several products, namely Sure Bond Online (SBO), Geber Surety Bond and SIKEBAL (FLEXAS Fire Insurance for Developers).

As a form of gratitude at the age of 54 years, Askrindo also pays attention to employee welfare. At the celebration of the Peak of the Anniversary, Management provided Education assistance to 117 non-admin and 15 non-administrative power transfer employees, as proof of the Company's commitment to the world of education.

Askrindo must move forward and maintain a commitment to give his best.

With challenges that always exist, but with dedication, innovation, and togetherness, Askrindo will be even stronger. Together, not only preserving Askrindo's legacy, but also building a more brilliant future for this company, customer and country," concluded Fankar.