Swiss Re has teamed up with Indonesia Re to provide members access to analytics solutions and risk consulting services of the national Insurance Data Centre Management Agency (BPPDAN).
BPPDAN is administered by Indonesia Re and counts 70 re/insurers amongst its members.
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The collaboration, which is aimed to improve data accessibility, is expected to serve as a catalyst for digital transformation in insurance industry in Indonesia.
Through the partnership, Swiss Re and Indonesia Re will support the underwriting decisions of BPPDAN members, as well as their strategic planning for pricing, risk management and, taking into account major loss drivers.
Swiss Re regional president and Reinsurance Asia CEO Paul Murray said: “Swiss Re is committed to building resilience as the industry faces significant global change.
“As Indonesia plays an important role in Southeast Asia, we see this partnership as a great example of how we can suppport Indonesian insurers to make the country more resilient through digital solutions, beyond traditional risk transfer.”
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By GlobalDataBPPDAN enables pricing of fair and sustainable property insurance by gathering accurate insurance information.
The latest partnership will also see the development of a market dashboard for BPPDAN to offer premium and claims insights for its members, at a market and company level.
Swiss Re APAC P&C Analytics head Monami Mukherjee said: “Heightened risk awareness in Indonesia is fueling more demand for insurance protection. To remain competitive in a dynamic risk environment, enhancing underwriting performance and portfolio steering are key differentiators for insurance organisations.
“Our P&C analytics solutions can support our clients in this process, by consolidating relevant data and translating this into actionable insights in a timely manner.”
