Efforts to Prevent Insurance Companies from Defaulting

Please note that this article was automatically translated using Microsoft Azure AI, Open AI, and Google Translation AI. We cannot ensure that the entire content is translated accurately. If you spot any errors or inconsistencies, contact us atThe launch of a collaborative effort to utilize the Integrated Multi-Investment System by KSEI and insurance company IFG Life, at the Indonesia Stock Exchange , Jakarta, on Tuesday .industry.

To support this regulation, the Financial Services Authority recently allowed the insurance industry to make use of the transaction administration system and investment asset data in the capital market from one of the market regulators, PT Kustodian Sentral Efek Indonesia . The system is called the Integrated Multi-Investment System .

KSEI first launched S-Multivest in 2021, as a development of the Integrated Investment Management System which aims to improve the efficiency of mutual fund transactions since 2016. PT Asuransi Jiwa IFG , a subsidiary of Indonesia Financial Group , has life insurance products. Currently, the company manages 439,000 individuals and life insurance policies, and has paid out claims worth Rp 9.1 trillion to policyholders.

"IFG Life is the first insurance company to use this system, proof of our seriousness in maintaining the mandate of our customers," said Mufri.

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