Yogyakarta, September 17, 2025 – In celebration of the Road to Insurance Day and Financial Inclusion Month 2025, the Indonesian General Insurance Association (AAUI) held a public lecture on financial literacy at the Department of Mathematics, Faculty of Mathematics and Natural Sciences (FMIPA), Universitas Gadjah Mada (UGM). The event, held in Meeting Room 1, 3rd floor, carried the theme “The Role of General Insurance and Reinsurance in Achieving Financial Resilience and Risk Protection in Indonesia.”
The event began with an opening prayer by M. Nur Saripudin, followed by a welcoming speech from the Head of OJK DIY (Financial Services Authority for the Yogyakarta Region), Eko Yunianto. In his remarks, he expressed his appreciation to AAUI and UGM for organizing the event and emphasized the importance of improving financial literacy and inclusion. According to the latest survey, Indonesia’s financial literacy index stands at 44.64%, while the inclusion index still shows a gap of about 15–16%.
“In the insurance sector, the literacy index has increased from 36.9% to 44.45%, while inclusion has risen from 12.21% to 28%. This means that although people are becoming more aware of insurance products, many are still reluctant to use them,” he explained. He further added that the insurance industry plays a vital role in reducing the government’s social burden while driving national economic growth.
The Chairman of AAUI, Budi Herawan, highlighted that the financial literacy program is part of the Insurance Day commemoration and marks the beginning of Financial Inclusion Month. He reminded the audience that Indonesia’s insurance penetration rate remains lower than that of other ASEAN countries, despite its demographic advantage. “Innovative and responsive efforts are needed for the insurance industry to become a regional benchmark and contribute to achieving Indonesia Emas 2045,” he said.
Representing FMIPA UGM, Dr. Nanang Susyanto emphasized the importance of collaboration between academia and industry. Beyond enhancing financial literacy, this event also opens career opportunities for students. He also mentioned UGM’s Department of Mathematics initiative to develop domestic actuarial software for OJK reporting to reduce dependency on foreign systems.
As a gesture of appreciation, plaques were exchanged between AAUI, OJK DIY, and the Department of Mathematics, FMIPA UGM.
The first session was delivered by Darmadji from AAUI Headquarters on the topic “Opportunities and Career Prospects in the General Insurance Industry.” He highlighted the strong demand for actuaries in the sector, noting that each insurance company requires at least three actuaries. “Actuaries play a crucial role in risk management, forecasting, and mitigation. Unfortunately, the insurance sector’s contribution to Indonesia’s GDP remains at only 0.53%,” he explained.
The second session, presented by Dennish Ari Putro, discussed “The Role of the Insurance Industry in the National Economy: Resilience for a Disaster-Resilient Indonesia.” He highlighted MAIPARK’s role in disaster risk modeling, particularly earthquakes, and the emerging challenges in modeling hydrometeorological disasters amid climate change. “MAIPARK’s first product was the earthquake zonation map, which has become a vital foundation for the disaster reinsurance industry in Indonesia,” he noted.
Through this event, public awareness and inclusion in financial literacy—particularly in general insurance and reinsurance—are expected to strengthen. The public lecture also served as a bridge between academia and industry to enhance national financial resilience.
Keywords: Financial Literacy, Insurance, Reinsurance
Author: Shafira Fauzia Untsa
Photo: Yehuda Dwi Yosafat