Universitas Indonesia Conferences, The 4th International Conference of Vocational Higher Education

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Developing Life Insurance Marketing Systems in Indonesia: InsurTechs and Competencies of Agents
debrina vita ferezagia

Last modified: 2019-09-19



Manuscript type: Research Paper

Research aims: This study aims to overview life insurance market development in industry 4.0. It also attempts to examine utilization of insurance technology and what competencies must be owned by insurance agents.

Design/ methodology/ Approach : The authors collected literature on insurance technology, which is used internationally. This innovation is described as an invention, who subsequently collected data in Indonesia. The data found is processed using descriptive statistical methods. After that, The author analyzes what competencies insurance agents should have using a fishbone diagram.

Research findings: Based on the results, insurance market has implemented the “4.0”. The same thing has happened in Indonesia, insurance technology called "insurTechs", includes Cermati, Asuransi88.com, Cekpremi, Futuready, DuitPintar.com, Pasar Polis, Premiro, and RajaPremi. The weakness of InsurTech is that this business model cannot stand alone. Insurance agents are still needed as an intermediary between customers and the insurance industry. Based on the fish bone diagrams, the competencies of insurance agents are knowledge of law / regulation, skills in implementing codes of ethics, knowledge of life insurance, knowledge of products, skills / expertise of marketers, and personal development.

Theoretical contributions/ Originality: This paper contributes to marketing insurance management. The use of Insuretech in the insurance marketing process will increase, but currently Insuretch will not replace the role of the insurance agent.

Practicioner/ Policy Implications: The findings of this study suggest making a policy that agents have licenses as evidence of their competencies.

Research limitation: This research is limited to descriptive and general analysis.

KeyWords: Technology, Insurance, Agent, Competencies



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