EVENTS

About IFG International Conference 2022

Indonesia Financial Group International Conference 2022 is “The Most Progressive International Conference of Insurance and Pension Fund in Indonesia” and the first international conference organized by Indonesia Financial Group (IFG) – a State-Owned Enterprises (SOE/BUMN), strategic holding company of the insurance and underwriting companies. Under the umbrella theme of “Insurance and Pension Fund: Transiting into Digital and Green Economy Ecosystem,” IFG International Conference 2022 will present over 20 panelists from more than 9 countries worldwide.

The outbreak of the Covid-19 pandemic has inevitably caused havocs to the global economies, including Indonesia. Given the wide-base consequences of the crisis, the financial sector is among the affected one. The turbulence in the global financial sector, as evidenced by the volatilities of the capital flows and the exchange rates especially in the early 2020, has greatly influenced the returns of investment and the overall balance sheet performance of the non-bank financial institutions, particularly insurances and pension funds.

At the same time, digital penetration and global commitment to green economy have altered the ecosystem and the consumer behaviors around the globe faster than initially projected. Digitalization has become an integral part of the daily market activities including in the financial sector whereas the green economy has been part of the global commitment to ensure sustainability. Both transformations in the ecosystem require new business model and strategy of the financial industries to flexibly adapt with the changes.

Equally important, the Covid-19 pandemic and the transformations of the eco-system have further exposed the flaw in the fundamentals of the insurance and the pension fund industries. The literacy on the non-bank financial sector in general and in the insurance and the pension fund in Indonesia in particular has improved but remained very low relative to the neighboring economies. Inadequate technical expertise, particularly in the areas of actuary and investment, has contributed to the weak enterprise risk management in both industries. In addition, efforts to strengthen the market conducts highlights the need for the regulatory and supervisory reforms.