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TRIBUNMANADO.CO.ID, JAKARTA – The transport insurance activities started in 2018. This positive trend is the growth of the macro-economy in the country.
The improvement in the economy is increasing demand and delivery of goods this year. The Indonesian Association of General Insurance (AAUI) noted that in the first quarter of 2012, insurance business posted a premium of 1.17 trillion Rp, up 13 , 5% compared to the same period in 2017, of 1.03 trillion Rp.
AAUI Executive Director, Dody AS Dalimunthe, said that growth is in line with the increase in economic activity and the increase in freight volume during the first quarter of 2018.
The strongest growth occurred in rail freight transport, reaching 11.1 million tonnes, or 17.1%. Behind, there is air transport of 7.8% to 89,000 tonnes. Meanwhile, seaborne shipping increased by 7.1% annually to 8.5 million tonnes.
Although the insurance business posted a positive performance earlier this year, insurance companies remain selective in choosing companies to reduce risk.
This is reflected in the loss ratio of this business segment in the first quarter of 2018, which went from 21.2% to 19.3%. Dody said the number of claims on the carrier insurance business is indeed increasing. But the increase is much lower than premium growth.
Of course, the growth in the value of claims is only 2% to 226 billion Rp between January and March 2018. "The increase in the number of claims is reasonable because consistent with the growth of the portfolio. Activities, "says Dody.
On the other hand, Dody rate, the industry continues to undertake cleaning underwriting to remove the rate of loss. Including the one carried out in the line of cargo insurance business. The goal is to reduce the loss ratio in order to obtain better underwriting results.
By the end of the year 2018, estimates Dody, the prospects for this business sector remain excellent. "We think the growth of freight insurance premiums could remain in the double-digit range throughout the year," he said.
The insurance PT Asuransi Sinar Mas (ASM) is also stretched. ASM Director Dumasi MM Samosir said, for several years, this sector of activity shows an encouraging trend. Last year, the ASM premium for this activity increased by 52% to Rp 459 billion.
This year, the ASM is targeting two-digit transportation insurance premiums.
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