REPUBLIKA.CO.ID, JAKARTA -- Indonesian insurance must ready to face the ASEAN Economic Community (AEC) that will begin in 2015. Chairman of Indonesian Chamber of Commerce and Industry (Kadin), Suryo Bambang Sulisto said that insurance sector still needed more attention to be able to grow and develop well like other financial sectors.
"Certainty in insurance sector will create investment and business continuity. It will strengthen the insurance industry's role in economic development. We are need mutual trust between consumers and insurance industry," Sulisto said recently as reported by Satya Festiani.
Insurance regulation requires integration with other regulations, as well as governance of community life. Insurance can play a role in social engineering extensively. Kadin's Deputy Chairman for Banking and Financial Division, Rosan P Roeslani said that Indonesia and other ASEAN countries had large population.
"Indonesian insurance companies would try to expand to other ASEAN countries," Roeslani added.
Insurance penetration is potential to be developed in Philippines, Vietnam, Myanmar and other neighboring countries. National insurance also needs to increase human resources competency, capital and information technology support.
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