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As of May, the payment of claims and benefits of BCA Life reached Rp. 48.10 billion

ILLUSTRATION. Activities at PT Asuransi BCA (BCA Life) Office

Reporter: Ferrika Sari | Editor: Herlina Kartika Dewi

KONTAN.CO.ID – JAKARTA. The trend of claims and benefits paid by life insurance companies continued to surge in the first five months of this year. The increase in claim payments was in line with the increase in the company’s premium income.

PT Asuransi Jiwa BCA Life, which recorded claims and benefits payments of Rp. 48.10 billion until May 2018. This number is up 22% from the same period in 2017 which was Rp. 39.46 billion.

“The increase in claim and benefit payments is in line with the increase in premium income obtained by BCA Life until May 2018,” said Head of Marketing Department Lely Pekih to Kontan.co.id, Monday (7/9).

In the same period, BCA Life earned premium income of Rp 286.81 billion, an increase of 24% on an annual basis. One of the reasons for the increase in premiums was traditional insurance products.

“The premium grows according to what we have targeted and planned. This is because the life insurance market in Indonesia is still very large and is also in line with business development at BCA Life, “he said.

With the increase in premiums, BCA Life is increasingly optimistic that the company’s premiums can grow by 30% by the end of the year.

To achieve this target, BCA Life implements a strategy that focuses on offering traditional insurance products through distribution networks such as telemarketing, bancassurance, credit life and corporate solution.

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