Nearly 30% of Indonesians say that they engage more with their insurance policies when loyalty programmes are offered according to a new survey by FWD Insurance.
The new survey conducted in collaboration with Kadence International highlights the growing role of loyalty initiatives in shaping policyholder behaviour, driving renewals and encouraging additional coverage. The survey included both existing policyholders and non-policyholders, exploring the types of programmes that boost participation, retention, and overall engagement.
Indonesia’s Financial Services Authority has reported an insurance literacy index of 45.45% for 2025 up 8.55% from last year. FWD Insurance Indonesia chief HR and Marketing officer Rudy F Manik said, “Currently, there is no definite formula for the insurance industry to maintain loyalty and engagement among individual policyholders. We’re collaborating with Kadence International on the customer programme research to identify the types of programmes that can maintain customer loyalty and engagement, while also enhancing their appeal to policyholders with relevant needs.”
The survey revealed that external influences remain significant in insurance decisions. Personal experiences shared by family, friends, or relatives influenced 64% of respondents, while 39% cited social media and influencers as key sources.
When it comes to customer programme expectations, respondents showed strong interest in wellness initiatives, promotional offers, and exclusive insurance experiences. The study also confirmed that loyalty programmes are highly valued: 93% of existing policyholders expressed satisfaction with loyalty initiatives, and non-policyholders indicated such programmes strongly impact their decision to purchase insurance.
The research looked into both respondents’ financial priorities and the range of financial products they hold. It showed that 93% of respondents prioritised financial security and stability, while 55% focused on having insurance and medical funds, including emergency health savings.
Age differences were evident: respondents aged 25-35 prioritised savings for future needs, whereas those aged 45-50 emphasised medical funds, insurance, and business capital.
Kadence International head of business acceleration Saifuddin Alwi said, “The findings of this study are expected to provide valuable insights to improve financial inclusion in the life insurance industry. Customer aspirations are an important aspect that must be considered to run a sustainable, long-term business.”