- Why use an insurance broker?
- What’s the difference between an agent and a broker?
- Why choose PT Krida Upaya Tunggal ( KUT )
- How can I be sure my broker is qualified?
- How are insurance brokers licensed and what controls are there?
- How can I be sure an insurance company is financially sound?
- What insurance policies do I need?
- How much insurance is enough?
- If my circumstances change do I need to review my insurance?
- How do I make a claim?
Why use an insurance broker?
As insurance brokers, our priority is to represent your interests and to provide you with professional guidance in everything pertaining to your insurance in a market that’s forever changing in premiums, product availability and policy conditions. KUT’s staff understand the differences between various policies and are able to negotiate premiums that aren’t available to you.
Our role as brokers is to source the most appropriate policies for your circumstances and to advise on the various areas of risk for you or your company.
What’s the difference between an agent and a broker?
An insurance broker has a duty of care to you and must act in your best interests, they will attempt to source the most appropriate policy on your behalf at a competitive premium. An agent represents the insurance company and therefore has no direct responsibility to ensure that you are getting the most appropriate policy available, only to ensure that you are getting the most appropriate policy from the company’s range.
Why choose KUT ?
- We have been established since 1982
- We are one of the top twenty Insurance Brokers among 150 Brokers operating in Indonesia
- Our service is personal, and you deal with the same brokers at all times.
- We are foundation members of APPARINDO (Indonesian Insurance Brokers Association).
- We provide you with comparative terms from insurers to save you time and money, and we are always available to provide you with expert advice.
- We operate through a network of offices in Jakarta,, Bandung, Semarang, Surabaya, Denpasar and Banjarmasin.
How can I be sure KUT is qualified?
Some of of KUT’s senior staffareCertified Indonesian Insurance & Reinsurance Brokers (CIIB)and some others also have professional insurance qualifications including Ajun Ahli Asuransi Kerugian Indonesia (AAA-K).Our staffs maintain their professional status by undertakingthe required ongoing training and development
How are insurance brokers licensed and what controls are there?
KUT is licensed through the Decree of the Minister of Finance of the Republic of Indonesia Number : 507/KMK/017/1994 dated October 10, 1994.
We are registered as a member of the Association of Insurance & Reinsurance Broker Indonesia (APPARINDO).
As a member of APPARINDO, we always abide by all regulations in Insurance Broker Insurance brokers practise and code of ethics set up by the Association. The code of ethics policy usually sets the minimumstandards for business owners, managers and emplooyees to follow when completing various business.
We are abide by Law No. 40 year 2014.and our operational activities are regulated and supervised by The Financial Services Authority (OJK)
How can I be sure an insurance company is financially sound?
Most insurance companies operating in Indonesia are financially sound and OJK, maintains strict controls to ensure this continues.
OJK oversees the activities of insurance companies, banks, credit societies, superannuation companies and others in the financial arena. There are minimum Capital Adequacy levels (Risk Based Capital + RBC) fpr insures set up by OJK. Weare trained to further assist in ensuring the insurer with whom your business is placed performs to the standards you would expect.
What insurance policies do I need?
This depends on the type of business you are in. New insurance policies are being developed constantly as the world and the risks you face change. KUT’s brokers undergo regular training and remain abreast of all developments within the industry, so they are well placed to regularly review your risk areas and advise accordingly.
How much insurance is enough?
The first step in determining the answer to this question is to work with your broker to identify and define the areas of risk for you or your business. The decision then is which risks to retain (ie, not insure) and which risks to transfer through insurance. The sums insured should be relevant to the risk, taking special care not to underinsure and be subjected to co-insurance clauses. To choose to take the risk yourself to save money can leave you vulnerable and may severely affect your cash flow or assets. This is where our experience can assist you in making decisions on how much insurance you require to adequately cover your various risks.
If my circumstances change do I need to review my insurance?
Absolutely. A change of circumstances may mean the insurance you have in place is no longer current. It may be that your circumstances change in a way that means your risk is reduced and you’re paying too much, or that your risk is increased and you’re exposed to uninsured losses. Either way, advising your broker of your changes will allow them to review your insurances and ensure your policies remain relevant. It’s advisable to review your insurance regularly at the very least annually because changes may have taken place that alter your risk profile, and the policies available to cover your risks may also have changed.
How do I make a claim?
The process for lodging a claim varies depending on the type of policy, the insurer and the circumstances. KUT broker is trained to assist in the claims process to ensure you receive everything you are entitled to. You should make contact with them as soon as possible after a loss event occurs, so that no time is lost.