KONTAN.CO.ID - JAKARTA. The Financial Services Authority (OJK) is working on new rules for insurance products related to investment (PAYDI), including unit link. This time the OJK will regulate the management of the insurance industry's investment portfolio.
OJK stated that currently there is a demand to close or a moratorium on the sale of unitlink products which was triggered by the emergence of cases of failure to pay a number of insurance companies.
However, as a regulator, OJK cannot immediately implement a moratorium because in fact there are still market segments that require unitlink products.
In addition, selling unitlink products is also a common practice that is widely applied in various countries. Therefore, tightening the rules for selling unitlink products is a middle way to accommodate the interests of customers and the insurance industry.
Responding to this, the life insurance industry players assess the need for standardization regarding the transparency of the sale of insurance products related to investment (PAYDI).
PT BNI Life Insurance claimed to continue to coordinate both internally and with associations regarding this policy. So far, BNI Life has prioritized the performance and security of customer funds in its unitlink products.
GM of Corsec, Legal & Corcomm BNI Life, Arry Herwindo, said that the obstacle in marketing unitlink insurance products was the lack of public understanding of insurance products related to investment.
"BNI Life always provides insurance education through our digital communication channel, with the aim that more people understand unitlink products and are aware of the importance of having insurance products," Arry said to Kontan.co.id, Monday (13/9).
As of August 2021, BNI Life's premium achievement of Rp 998 billion has decreased compared to the same period last year.
"Along with the improving conditions of the pandemic in Indonesia, we are optimistic that the investment climate will also improve so that it will have a positive impact on unitlink product sales in the future," said Arry.