Great Eastern General Insurance Indonesia Targets 12% Premium Growth by 2026

Strategic Initiatives to Drive Growth

PT Great Eastern General Insurance Indonesia (GEGI) has set an ambitious target to achieve 12% growth in property insurance premiums by 2026. To accomplish this goal, the company will implement several strategic initiatives focusing on key market segments and partnerships.

Focus on Personal and SME Segments

GEGI's Marketing Director, Linggawati Tok, stated that the company will concentrate on developing the personal and Small and Medium Enterprises (SME) segments. This strategic focus is expected to drive premium growth while expanding the company's market share in Indonesia's property insurance sector.

Strengthening Partnerships

The company plans to strengthen collaborations with banking institutions and property developers. This partnership strategy is particularly focused on the mortgage (KPR) sector, where GEGI can offer tailored insurance solutions to homeowners. By aligning with major banks and developers, GEGI aims to create a more robust distribution channel for its property insurance products.

Product Innovation for Retail Customers

GEGI is also committed to developing more flexible and customer-centric insurance products for the retail segment. The company recognizes the growing demand for insurance coverage for properties valued under Rp 5 billion and is working to provide appropriate protection solutions for this market.

Market Context and Future Outlook

The Indonesian property insurance market presents significant growth opportunities, driven by increasing property ownership and rising awareness of insurance needs. GEGI's strategic focus on personal and SME segments, combined with its partnership and product innovation strategies, positions the company well to capitalize on these market trends and achieve its 12% growth target by 2026.