PT BNI Life Insurance (BNI Life), a state-owned life insurance company, recorded premiums amounting to Rp5.4 trillion.

This figure increased by 7.6% compared to the previous year in 2022 due to an increase in premiums from the employee benefits channel. The amount rose to Rp1.8 trillion in 2023 from Rp1.2 trillion in 2022.

Acting President Director of BNI Life, Eben Eser Nainggolan, stated that traditional premiums dominated the company's overall premium income with a contribution of Rp4 trillion throughout 2023.

"Traditional premiums dominate BNI Life's insurance premiums with an achievement of Rp4 trillion in 2023. The contribution of traditional premiums in 2023 amounted to 73.5%, and the contribution of unit-linked premiums amounted to 26.5% of BNI Life's total premiums," said Eben when contacted by Bisnis on Monday (12/2/2024).

Although its contribution was only Rp1.4 trillion, BNI Life's unit-linked sales throughout 2023 increased by 9.4% compared to the achievement in 2022, which was Rp1.3 trillion.

For this year, BNI Life targets unit-linked premium income to reach Rp1.49 trillion, with a 4.4% year-on-year growth compared to the achievement in 2023.

To achieve this target, there are several things to be done, including making changes to products to adjust to the latest regulations and customer segmentation for young families.

According to Eben, unit-linked products tend to attract those who want to combine life insurance with investment components in the hope of growing their investment value.