BIRO UMUM HUMAS & PROTOKOL

Assalamualaikum Wr. Wb,

Peace be upon us all.

Honourable:

• Chairman of the Executive Board of the Indonesian Insurance Management Experts Association, along with the entire board of management;

• Board of Commissioners of the Financial Services Authority;

• And seminar participants

First of all, I would like to express my appreciation, to the Indonesian Insurance Management Experts Association, for contributing to building a solid foundation for the insurance industry through various improvements, in the quantity and quality of services provided to the public and various stakeholders.

Finance and risk management in the insurance industry, play an important role as a foundation in navigating complexity and uncertainty to provide security and peace of mind. In addition to technological developments, the insurance industry, is also faced with the need to adapt and evolve, integrating new tools and methodologies, from big data analytics to artificial intelligence (AI) and blockchain. This opens up new opportunities for innovation and efficiency.

Ladies and gentlemen,

Insurance companies and insurance management professionals, are now faced with the challenges of climate risk, digital innovation, cybersecurity and financial inclusion. The effects of climate change cause damage to assets and property, so insurance owners file claims to repair the damage.

In addition, there are still many Indonesians who do not have insurance. However, the P2SK Law which stipulates that people can have insurance to protect themselves from various scenarios, can be an opportunity for insurance companies to increase financial inclusion. So that our insurance penetration and insurance density, which are lagging behind countries in the region, can be caught up.

Meanwhile, facing the digital transition in the insurance industry, cybersecurity must be a concern. So that people feel safer, protected and increase public confidence in insurance.

Finally, congratulations on conducting the seminar. Hopefully, new insights will emerge from here to produce innovations in the insurance industry in the future.

Thank you.

Wassalamualaikum Wr. Wb,

Yogyakarta, July 11, 2024

GUBERNUR

YOGYAKARTA SPECIAL REGION

HAMENGKU BUWONO X