BRI Insurance President Director Fankar Umran. (Beritasatu Photo)

BRINS' Greensurance Offers Boost to Eco-Friendly Automotive Industry

JULY 16, 2021

Jakarta. BRI Insurance, a subsidiary of state-controlled Bank Rakyat Indonesia and also known as BRINS, is seeking to drive Indonesia's green automotive industry to flourish with its greensurance.

Electric vehicles (EVs) are garnering more attention from the government, as well as automotive-related industries. According to BRINS chief executive officer Fankar Umar, making mobility greener requires collaboration between all parties. Insurance companies are no exception to this, as eco-friendly vehicles are still susceptible to risks.

"Collaboration between all parties is needed to advance the eco-friendly automotive industry, but we cannot forget about its protection," Fankar told a recent investment forum.

In response, BRINS offers several greensurance products — complete with a paperless policy. The company is also offering usage-based pay-as-you-drive insurance in hopes to slash private vehicle usage and air pollution. Eco-friendly vehicles can enjoy cheaper premiums or extra coverage. Also, BRINS’ Green For Old replaces total loss vehicles with eco-friendly ones by mutual agreement.

“I think we should start switching our mindset from a greed mindset to a green mindset for sustainable growth," Fankar said.

Indonesia has set an ambitious EV plan, seeking to produce 600,000 electric four-wheelers and 2.5 million electric two-wheelers by 2030. BRINS expects its Greensurance will become increasingly popular in the future as the number of EV customers rise.

The increased use of electric cars and focus on eco-friendly financing is in line with President Joko “Jokowi” Widodo's call for the industry to take advantage of the business potentials yet to be optimally exploited.

"We must find and develop potentials yet to be optimally exploited. 2021 will be our momentum to bounce back. Keep on building optimism and hope so that we are able to transform into a new and increasingly strong economic power that is tough, and independent," Jokowi said.

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