|Competition in Indonesian general insurance market is going tighter and tighter. Some players are trying to push their revenue up in this soft market, some are maintaining the position while many are struggling from marginal profitability.
Obviously, as a short cut, pricing strategy is the most prone element to expose in growing tight competition market. Eventually, after few cycles, all players scream for insufficient premium received compared to the risks taken which actually is a normal supply-demand insurance cycle.
This year, we will approach such classic problem through different angle and out of the box thinking instead of compromising traditional supply and demand. Most likely, current new wave competition with borderless information drives the market into a dangerous zone if the players resist to consolidate themselves.
It is not exaggerating if we choose "OUT OF THE BOX THINKING TO ESTABLISH HEALTHY INSURANCE INDUSTRY IN NEW WAVE COMPETITION" as the theme of this three-day rendezvous.
Having explored these, Tariff or non-tariff policy as a hot issue is remain interesting to discuss. People say there is no one instant solution for thousand problems. Does this policy become a quo vadis ? We will discuss about it in a panel discussion on day two. It is expected, all participants get an update of other countries experience in implementing such policy.
Day three will be enriched by more insightful and inspiring experience to approach such dilema situation as we see two sides of a coin.
Last but not least, please allow me to extend my warm and hearty welcome to 19th Indonesia Rendezvous participants and I hope all participants enjoy and find this rendezvous fruitful.
Thank you and see you all in Bali.