Otoritas Jasa Keuangan (OJK) committed to advancing Asia’s insurance ecosystem and addressing global challenges by joining the Global Asia Insurance Partnership (GAIP)
The Otoritas Jasa Keuangan (OJK) has pledged to strengthen the insurance industry ecosystem across Asia and expand international collaboration by joining the Global Asia Insurance Partnership (GAIP). Mr. Ogi Prastomiyono, OJK’s Executive Head of Insurance Supervision, announced this commitment during the GAIP Summit held in Singapore on Tuesday, October 15th, 2024.
In his statement, Mr. Ogi emphasised the importance of enhancing insurance capacity in Asia, reducing protection gaps, and supporting innovative solutions in the insurance sector. “Through this membership, we are dedicated to addressing business challenges, such as climate risks, digital transformation, and financial inclusion,” he said during the event.
GAIP is an international collaboration platform that brings together regulators, global insurance industry leaders, academics, and international organisations, focusing on transforming the insurance sector across Asia. OJK’s inclusion in GAIP expands the partnership to 11 regulators from countries such as Australia, Japan, Singapore, and Indonesia.
One of GAIP’s core missions is to close the protection gap in Asia through close collaboration among stakeholders. OJK aims to play an active role in developing policies and implementing best practices that will improve access to inclusive and relevant insurance products for communities in Indonesia and the wider Asian region.
Source: Antaranews
