Economic History Of The Definition Of Car Insurance And Health
Auto insurance definition,Economic History Of The Definition Of Car Insurance And Health! The history of insurance in Indonesia has a very long process until finally, we can feel the benefits easily nowadays.
Knowing the history of insurance is very necessary so that we know very well the ins and outs of insurance that many of us meet today and also Auto insurance definition. By studying the history of insurance most likely will easily choose the best insurance according to our needs. Because it is impossible for an event to have no connection with the previous event, therefore the credibility or quality of an insurance company can actually be identified through its historical setting.
Auto insurance definition,knowing the history of insurance will make you observant if lately there have been a variety of various insurance products offered so you can choose products that suit your needs. Phenomena can be confusing for those who are still laying on insurance products so they are vulnerable to making funds allocation for protection, investment or ordinary savings.
The following is the history of insurance in Indonesia, which dates back to the Dutch colonial era until the era of independence until now that you can study the background so that you can find the right insurance product.
The development of insurance seen from its history globally began since the Roman Empire during the reign of King Alexander the Great. Initially, insurance was still very simple and did not yet have a sophisticated mechanism like now. In the past, the concept of insurance was more directed at joint activities carried out by a group of people to help its members when someone was sick or died. The assistance is in the form of money given directly to the person concerned.
In Indonesia insurance began since the arrival of the Dutch when colonizing Indonesia. Insurance in the colonial era was more directed at a mechanism to secure the trading activities of the colonial government in the plantation and trade sectors.
At that time Indonesia was famous for its natural commodities such as palm oil, spices, tobacco and so on. In order to exploit these commodities, the Dutch colonial government established a guarantee mechanism system so that their business had protection against the risk of harvesting until the shipment of the crop to the Netherlands.
Insurance Losses, Initial Purpose for Protection of the Dutch Colonial Government Business
The first time the Dutch colonial government established a loss insurance company in the trade and plantation sector named Bataviasche Zee End Brand Asrantie Maatschappij in 1843. The insurance covered all risks caused by fire and the risk of transporting commodities. Then in 1853 following the establishment of a loss insurance company called N.V. Assurantie Mij Nederlandsche Lloyd and Assurantie Mij Langeyeld Schroeder and Assurantie Mij Blom van der Aa loss insurance.
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Apparently, it did not stop there, N.V. Assurantie Mij Nederlandsche Llyod then opened a subsidiary that focused on taking the risk of a fire in 1916 on September 1. The insurance subsidiary was named Indische Lloyd which we can still hear its name, namely PT. Lloyd Indonesia. That is the forerunner of the first fire insurance in Indonesia.
After a period of Japanese occupation, the economy in Indonesia was so chaotic that many companies went bankrupt.
Many insurance companies also collapse. In the end, the only insurance company that survived the bad economic condition was O.L Mij Boemi Poetera. Because the name still smelled of Dutch, and the Japanese did not like it, the company changed its name in the Japanese colonial period to the Tanggoeng Company, Djiwa Boemi Poetera (PTD Boemi Poetera).
PTD Boemi Poetera, we currently know it as an insurance company Bumi Putera, has a good reputation so many people who still choose it as the preferred insurance company.
During the insurance and economic colonization in Indonesia it was still run on the basis of monopoly principles, therefore only Europeans could enjoy insurance protection. While Indonesian local residents cannot get the benefits.
In addition to life insurance (trade and kebarakan insurance) in the colonial era, life insurance has also been established. The first time was Nederlandsche Indische Levensverzekering en Lijfrente Maatschappij (NILMIJ) in 1859.
In line with the strengthening of the national awareness of the Indonesian nation which was marked by the founding of Budi Utomo in 1908, then the emergence of insurance companies by Indonesian citizens such as:
O.L Mij Boemi Poetry (1912) who is now known as the Life Insurance with Bumiputera. O.L Mij Boemi Poetry was initiated by R.W. Dwidjosewajo with his two friends M. Karto Hadi Soebroto and M. Adimidjojo.
The insurance companies were founded on the spirit of mutual cooperation and the spirit of mutual assistance among the nation’s children. Therefore these companies are established in the form of underlying or joint companies.
After Indonesia’s independence, there were important events in the world of insurance which were marked by the large nationalization of foreign insurance companies as well as the establishment and incorporation of new insurance companies. The most famous is the nationalization of the Dutch insurance company NV Assurantie Maatschappij de Nederlander and Bloom Vander EE to become PT. Benda Raya Insurance. In addition, the insurance company De Nederlanden Van (1845) was also nationalized to become PT. Jiwasraya Insurance.
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Then PT Asuransi Bendasraya and PT Internasional International Underwriters (PT UIU) were combined into one and turned into PT. Indonesian Insurance Services that are familiar with the name Jasindo Insurance. In addition to the merger, the government of the independence era formed other new insurance to improve people’s welfare. Among the insurance products in the post-independence era are:
- Perum Asabri
- Social Security
- Perum Taspen
- Jasa Raharja Insurance
- Modern Age Insurance in Indonesia
- Indonesian modern insurance
In the 1980s, was the starting point for the emergence of modern insurance in Indonesia. Some of them that still exist today are AIA Financial, Allianz, CIGNA, Avrist AXA Mandiri, Sinar Mas Insurance, and Prudential. These insurance are no longer focused on one protection but many insurance products are offered. Even not only insurance some of these companies also offer investment products.
In the government of President Susilo Bambang Yudhoyono, in 2014, the government proved its performance in serving the community, especially in the field of life protection by establishing a Social Security Organizing Agency whose products are currently the leading insurance products in Indonesia namely Health BPJS and Employment BPJS. BPJS is currently replacing the Askes and Jamsostek functions that apply in the previous period.
Insurance as Primary Personal Protection
Until now, insurance continues to grow to start from the type of use and benefits. Especially in Indonesia, not only the upper-middle-class people can use and enjoy the benefits of insurance, but even the lower class can use insurance from the government (BPJS Kesehatan) which only incurs a small fee, can feel the same benefits from ordinary private insurance in accordance with the group The selected.
Having a car is everyone’s dream. The car that we have of course must always be maintained so that it can be driven safely and comfortably. But the danger of accidents can occur anytime and anywhere. That’s why we need car insurance, so we don’t have to worry about an accident. There are many car insurance providers who are ready to provide the best service with competitive premium rates and various attractive insurance services.
There are many benefits that we get if we follow car insurance, such as avoiding losses in the event of an accident and loss when the car is stolen. To get these services, of course, we have to pay a monthly fee according to the insurance services that we follow. In line, there are several types of asuras vehicles that we can choose, including TLO car insurance (Totally Lost Only), All Risk car insurance, and combination insurance that combines All Risk and TLO.
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Car insurance Total Loss Only (TLO) is insurance that provides guarantees when a lost vehicle is stolen and damage occurs with the value of repairs equal to or more than 75 per cent of the current vehicle price. So if the damage to the car is less than 75% of the total price of the vehicle before the damage occurs, then the submission of the insurance claim that we do will be rejected. For example, if the price of a car that we have is 100 million and the cost of damage reaches 80 million, then the cost of repairs can be transferred to the insurance company. But if the repair costs only 60 million, then we cannot make insurance claims.
Then for All Risk or Comprehensive car insurance will provide full protection and financing when the car that we have is experiencing large or small damage. One of the best car insurance services also provides protection when a lost car is stolen, but with certain conditions. Unfortunately, the cost of suspended premiums every month is greater than TLO insurance. Now for those of you who are interested in participating in insurance and are confused about finding the best car insurance service provider in Indonesia, please choose one of them below.
Following are some of the best insurance companies in Indonesia:
Everyone must have heard of the name Jasaraharja, because this insurance service is very familiar with accident insurance when we ride public transportation, such as buses, trains or planes. In addition, they also become one of the best car insurance service providers in Indonesia by presenting JP-ASTOR (Motor Vehicle Insurance) services. There are two scopes of responsibilities given by JP-ASTOR, namely TLO and All Risk. All of them have premium costs which are classified as cheaper than other insurance companies, so it’s not wrong if we call it the best car insurance in Indonesia.
Sinar Mas Car Insurance
The best car insurance is then owned by Sinarmas with a superior product called Simasnet. The advantage we follow Simasnet insurance is being able to make a claim directly to the authorized workshop if there is damage to the car that we insure. In addition, there is also a 0% instalment for BCA credit card holders and 24-hour services to all Simasnet customers. In addition, Sinarmas also provides Simas Mobil car insurance services consisting of Combined (Comprehensive) + TPL, Total Loss Only + TPL, and Simas Mobil TPL (TPL Only).
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Garda Oto Insurance
Auto insurance definition of accident, Garda Oto has proven to be one of the best car insurance services in Indonesia. Because in 2013, Garda Oto won the title of the best car insurance by one of the server institutions in Indonesia. Until now, Garda Oto continues to provide its best services by presenting various types of car insurance, such as All Risk, TLO, third-party responsibilities, and expansion of riots and natural disasters. In addition, the OTO Guard is also recognized by the OJK (Financial Services Authority), so we need not fear to choose Garda Oto as the best car insurance for the vehicles we have.
Allianz Utama Indonesia Insurance
Definisi ekonomi asuransi auto quizlet allianz is an internationally recognized insurance provider. In Indonesia, they have Allianz MobilKu Insurance products that provide three comprehensive packages that we can choose as needed. The first package is Allianz MobilKu Grand which provides the most complete vehicle protection solution to damage or theft. Then there is also Allianz MobilKu ECO which offers a more economical premium fee and the last is Allianz MobilKu Suka-Suka which provides insurance packages according to our choices and desires.