During the Pandemic, the Life Insurance Sector Pays Rp. 10.2 Trillion in COVID-19 Claims

 

 

The life insurance business has been compelled to contribute to the cost of claims resulting from the Covid-19 pandemic, which has been going on since 2020.

Claims connected to Covid-19 were paid in the sum of IDR 10.2 trillion, according to GCG AAJI Fauzi Arfan, Head of Product Division, Risk Management.

Fauzi explained, "That was accrued from March 2020 to December 2022.

According to Fauzi, the Covid-19 claims settled have been essentially flat in 2022. Keeping in mind that there won't be as many instances in 2022 as there were in the past.

In terms of the Covid-19 danger, the situation is "better than 2021," he continued.

The claims and benefits that the life insurance sector gave out between January and December 2022 totaled Rp 174.28 trillion.

Individual health claims, which rose 46.1% yearly, were one of the components with a very high increase, according to Fauzi, based on the type of claim paid.

He declared, "The life insurance business is a liquid industry.