Ciputra Life Expands Reach to Informal Workers Amid Dominant Group Insurance Premiums

Strategic Shift in Insurance Product Focus

Ciputra Life is strategically focusing on capturing the informal worker segment despite the majority of its premium income coming from group insurance products. The company's Director, Listianawati Sugiyanto, revealed that nearly 80% of premium income comes from credit life insurance products, which are part of group insurance.

Addressing Indonesia's Informal Workforce

The Indonesian labor market remains dominated by informal workers, constituting 57.80% of the workforce. In response, Ciputra Life is implementing several key strategies: enhancing accessibility, simplifying insurance products, and conducting education campaigns in collaboration with local communities.

Product Development and Market Trends

In mid-2024, Ciputra Life launched Ciputra Medical Insurance, targeting corporate clients and providing health coverage complementary to BPJS. This product aims to offer comprehensive protection to employees and their families, enhancing corporate welfare programs. The industry trend shows significant growth in group insurance products, with premium income reaching Rp17.68 trillion in the first half of 2025, representing a 4.68% growth.

Financial Performance and Industry Outlook

Ciputra Life reported Rp365 billion in premium income from January to September 2025, achieving 83% of their annual target. Although this represented a 16.63% contraction compared to the previous quarter, the company's comprehensive profit for the same period increased by 99.87% to Rp77.79 billion. Industry expert Julian Noor noted that the decrease in unemployment doesn't directly translate to increased insurance penetration as formal workers remain the primary target market for life insurance products.