Frequently Asked Question

Condensed Insurance Glossary

Q: What is bancassurance?
A: Bancassurance refers to the sale of insurance products in a bank. The word is a 
combination of "bank" and "assurance", meaning both banking and insurance are provided 
by the same corporate entity.

Q: What is a claim?
A: A claim is a demand by an insured policyholder for compensation under an insurance contract.

Q: What is insurance?
A: Insurance refers to the equitable transfer of the risk of a potential loss from one entity to 
another, in exchange for a premium. It is a promise of reimbursement in the case of loss.
An insurer is the company that sells the insurance.

Q: What is the difference between general and life insurance?
A: Life insurance provides for the payment of a sum of money upon the death of the insured. 
It may also be used as a means of investment or saving. 

General insurance, or non-life insurance, provides for the payment depending on the loss 
from a particular financial event. It typically comprises any insurance that is not determined 
to be life insurance such as motor, home, construction and cargo.

Q: What is a premium?
A: A premium is the payment or one of the periodical payments that a policyholder makes 
for an insurance policy.

Q: What is a policyholder?
A: A policyholder refers to an insured person in whose name the insurance policy was written. 
A policyholder pays a premium to an insurance company in exchange for insurance 
protection provided by the policy of insurance.

Q: What is reinsurance?
A: Reinsurance refers to insurance that insurance companies take up to spread the risk of the 
direct insurer.

Q: What is risk management?
A: Risk management is a tool for comprehensive identification and assessment of risks based 
on knowledge and experience in the fields of natural sciences, technology, economics and 

Q: What is underwriting?
A: In insurance, an underwriter assesses the risk and exposures of a prospective policyholder. 
The underwriter decides how much coverage the policyholder should receive, how much the 
policyholder should pay for it, or whether the insurer should accept the risk to insure the 
policyholder. Underwriting involves measuring risk exposure and determining the premium.

COVID-19 Virus Outbreak

Updated on 1 April 2020

At MSIG, you are at the heart of all we do, and that begins with providing the best of quality service to our customers. 

In regards to the COVID-19 pandemic development announced by WHO, and considering the economic challenges both in national capacity and globally, we proactively have asked our employees to practice self-hygine and avoid any kind of travel activity in order to break the chain of virus spreading.

Further to break the chain of virus spreading, we have decided to implement full Work From Home policy for all of our employees in the Jakarta head office operation effective as from 1 April, 2020, as a precautionary measure.

We have also decisively asked and remind our employees all over the country to practice self-hygiene, avoid any kind of travel activity and to always stay at home.

During its implementation, Asuransi MSIG Indonesia are fully committed to serving all our clients and always be ready to assist you.



In related to the developing condition, you may find some explanation below for your Travel Insurance policy coverage in the case of Travel Curtailment and Travel Cancellation.

Q: Will my MSIG travel insurance policy cover my claims or any travel disruption affected by COVID-19?

A: Under the travel curtailment cover, MSIG travel insurance policy will provide cover for loss of unused travel fare and/or unused accommodation expenses, which have been paid in advance, and for which you are legally liable and which are not recoverable from any other source should you have to abandon your journey and return to Indonesia once your journey has begun due to:

  1. Serious Physical Injury or Serious Illness – including COVID-19 - of Insured, Insured’s Immediate Family Member, business partner or Travel Companion;
  2. Unexpected outbreak of strike, hijack, riot, civil commotion, severe weather condition at the planned destination which prevents the Insured Person from continuing with his/her scheduled journey;
  3. Serious damage to Insured’s principal home in Indonesia arising from fire, flood or burglary.

Q: I have an upcoming trip to China (assuming a healthy individual whose health is not affected by COVID-19). Will I be able to claim for travel cancellation expenses from my travel insurance policy bought before?

A: Travel cancellation cover will indemnify travel and/or accommodation expenses which have been paid in advance and not recoverable from any other sources if you have to cancel your journey within thirty (30) days before the date of commencement of your journey as a result of:

  1. Death, Serious Physical Injury or serious Illness – including COVID-19 -  of Insured, Insured’s immediate Family Member, business partner or Travel Companion;
  2. Witness summons, jury service or compulsory quarantine of Insured;
  3. severe weather condition at the planned destination arising out of circumstances beyond the control of Insured within one week before the departure date;
  4. Serious damage to Insured’s principal home in Indonesia arising from fire, flood or burglary within one week before the departure date.

There will be no coverage if the journey is cancelled more than 30 (thirty) days prior to the travel commencement.

Information on PT. Asuransi MSIG Indonesia

Q: What happened to PT. Aviva Insurance and PT. Asuransi Mitsui Sumitomo Indonesia?
A: PT. Aviva Insurance has transferred its Business Portfolio on 30 June 2007, and with effect from 1 July 2007, PT. Aviva Insurance has legally merged with PT. Asuransi Mitsui Sumitomo Indonesia and "PT. Asuransi MSIG Indonesia" is now our new company brand name. The registered company name is PT. Asuransi Mitsui Sumitomo Indonesia. PT. Asuransi Mitsui Sumitomo Indonesia takes all responsibilities and/or liabilities related to insurance policies issued by PT. Aviva Insurance, which are still running on the Effective Date(30 June 2007).

Q: What does MSIG stand for? 
A: MSIG stands for "Mitsui Sumitomo Insurance Group". Our group's aspiration is to be the world's No. 1 International Insurance Group and this brand name reflects the Group's current network in over 40 countries and 24,000 employees worldwide.

Q: You have gone through so many mergers and name changes. What is the main reason? 
A: Yes, we have gone through a number of mergers/name changes and each time the decision was made based on very solid business propositions. This time it is a union of two very profitable companies becoming bigger, stronger and allowing us to provide better products & services to our customers.

Q: Who am I insured with now?
A: You are insured with PT. Asuransi MSIG Indonesia. You may call us "MSIG Indonesia" for short.

Q: How will this brand name change and merger affect me as a policyholder?
A: The brand name change and merger will not affect the interests of policyholders. These will continue to be safeguarded. You are insured now with the 7th largest (1st Largest Joint-Venture) General insurance in Indonesia, belonging to one of the largest General Insurance Groups in Asia and Japan with Group Standard & Poor's rating of AA-

Q: Will there be a need to make any changes to existing policies?
A: No. Please be assured the brand name change and merger does not affect existing policies. It will not cause any variation in the period of insurance or the extent of coverage and protection you have under your existing policy.

Q: Will there be a change in the personnel servicing my account? 
A: There might be slight changes in the personnel servicing your account but please be assured that we are committed to ensuring that the level os of service is maintained and that our policyholders' interests are always safeguarded.