Personal accident insurance coverage accounts for the third largest market share of the general insurance industry as a whole in Indonesia, accounting for 13% of total generated premiums. While market penetration remains low, growth in uptake and gross premiums is high, particularly from corporate clients seeking to ensure the safety of their employees in Indonesia’s booming sectors such as construction, mining, oil and gas.

Bosowa Asuransi has been quick to recognise the potential for personal accident insurance coverage in Indonesia. The company provides personal accident coverage for individuals and for corporations that offers compensation and coverage of medical expenses in the event of disability, injury or death resulting from an accident. Bosowa Asuransi takes a personalised approach to each client and creates tailored packages depending on the scope of personal accident insurance coverage required, taking into account factors such as the type of industry and occupation as well as the family dependants of the individual to be insured.

The personal accident insurance sector represents exciting growth prospects for the general insurance industry in Indonesia given the promising underwriting returns and the comparably lower risk of fraudulent claims. Bosowa Asuransi will therefore enlarge its presence in the market through extended coverage of Bosowa Group’s own employees as well as increasing its own network of external corporate clients.