Products survey in Indonesia: Life post-PAYDI regulations

In response to changing market dynamics in Indonesia, Milliman conducted a market survey in the third quarter 2023 focusing on unit-linked product changes, the future outlook of product mix, and overall product development processes. We collected responses from 31 distinct life insurance companies in Indonesia. The survey findings offer a clearer understanding of the current market conditions and highlight potential areas for improvement. This e-Alert presents a summary of our findings and strategic insights, under the following headings:

• Notable shift in portfolio mix 
• Future product development
• Outlook and strategies