Swiss Re has partnered with Indonesia Re, administrator of the National Insurance Data Centre Management Agency (BPPDAN), to provide the latter’s members with access to the former’s analytics capabilities and risk consulting services.
The collaboration will act as a catalyst for digital transformation in Indonesia's insurance industry, Swiss Re said.
BPPDAN, which has more than 70 members from across the insurance industry, collects insurance data to guide its members in “fair and sustainable” property insurance pricing. The partnership will involve the creation of a market dashboard for BPPDAN, which can offer its members premium and claims insights at a market and company level.
“Swiss Re is committed to building resilience as the industry faces significant global change,” said Paul Murray, Swiss Re's regional president and CEO for reinsurance, Asia. “As Indonesia plays an important role in Southeast Asia, we see this partnership as a great example of how we can support Indonesian insurers to make the country more resilient through digital solutions, beyond traditional risk transfer.”
The partnership between Swiss Re and Indonesia Re will support the underwriting decisions of BPPDAN members, as well as their strategic planning for risk management and pricing, taking into account major loss drivers.
“BPPDAN's 30th anniversary this year is marked by the launch of BPPDAN Analytic to support its member companies by enhancing their journey toward science-based underwriting decision making and portfolio management,” said Delil Khairat, technical operations director at Indonesia Re. “We would not have realised this ambition without strong partnership with Swiss Re through its world-class analytics solution. This is vivid evidence that collaboration is the way forward in navigating an increasingly dynamic and complex risk landscape and business environment."
