Social Business and Real Estate

The insurance industry has asked the government to realize its plan to use data prepared by the Central Management Board of the National Insurance Data (BPPDAN). BPPDAN data application can reduce the loss ratio reinsurance companies.
BPPDAN is an institution that manages the statistics of fire insurance. This body was established by the Decree of the Indonesian Insurance Council is now called the Federation of Indonesian Insurance Associations (FAPI).
The main function of this institution is to collect various statistical information. BPPDAN published data contains detailed information on the industry received a total coverage for every type of building, the claims ratio, until the development of the claim under the underwriting year.

Currently, the property insurance premium rates are considered not reflect a fair price. If the tariff calculation reflects a reasonable cost, large tariff could rise three times more than current rates. The applicable rate for the current building average of about 1.5 per mil. Actually, added Kocu, General Insurance Association of Indonesia (AAUI) once made a reference rate of the property in 2001 and 2002. However, these reference prices are also not utilized.
Vice President Director of PT Asuransi Bumiputeramuda 1967, Julian Noor, said the improvement could be done simultaneously with the tariff revision earthquake premiums will be arranged in the near future. Julian suggested that regulators could also issued Regulation of the Minister of Finance (PMK) to stop the war in property insurance rates, such as when to stop a similar phenomenon has ever occurred in motor vehicle insurance.
Head of Insurance Bureau of Bapepam-LK Rachmatarwata Isa rate, industry players are still able to resolve their own issues. Data BPPDAN they could make reference,
For that, we need an independent party BPPDAN process data and make it into a kind of reference tariffs. In other countries, such as Japan and South Korea, there is an independent institution funded jointly by all insurance companies

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