ANALISIS PERSAINGAN DAN PROSPEK INDUSTRI ASURANSI UMUM DI INDONESIA

Competition in the general insurance industry is very tight, particularly price competition. In a tight price competition, profits will be depressed. Even companies can not make a profit. It makes investments in the general insurance industry be unattractive. On the other hand, insurance companies need additional capital to meet the provisions of regulation and competition in the future. Research conducted to determine how tight the competition, opportunities and challenges, and how to win the competition ahead. By using Porter's five forces analysis, driving forces, strategic group maps, key success factors, and Calandro-Lane matrix at 20 insurance companies, combined with market potential analysis. Data obtained from the statistical data published by industry regulators and industry associations, insurance institutions in the world, and interviews. The results in this thesis states that the general insurance industry is in perfect competition. Major factor in the competition are fierce competition among companies and the high bargaining power of buyers. However, the underwriting results of 20 large general insurance companies are still positive. Industry profit is dominated by the contribution of investment. By comparing the combined ratio of several countries, competition in Indonesia is still reasonable and the general insurance industry is still run well. General insurance industry in Indonesia is still attractive to investors because its prospects are good. Great potential as seen from the insurance density and insurance penetration which are very small. Also, high growth, good profitability, increasing insurance awareness, and threat of natural disaster. General insurance companies challenges ahead are how to raise insurance awareness, the presence of foreign insurers with strong capital, excellent service, and product innovation. Large/dominant players are companies that have a captive market and have lots of branch/marketing offices, innovative, focus on selling products and services