MSIG Indonesia Partners with Mitsubishi HC Capital, Practical Steps to Support the Development of Electric Vehicles in Indonesia

Partnership with Mitsubishi HC Capital



In its commitment to support the government's plan to develop electric vehicles in Indonesia, MSIG Indonesia partners with PT Arthaasia Finance (AAF), a subsidiary of HC Capital in Indonesia. As partner, MSIG Indonesia provides insurance protections for two-wheeled electric vehicles for companies engaged in vehicle financing for corporate customers.

Currently, there is no distinction between electric vehicle insurance and conventional (engine-powered) vehicles insurance. Policies, rates, and statistics for electric vehicle insurance still follow the standards that apply to conventional motor vehicle insurance classes. The low penetration rate of electric vehicles means that the general insurance industry is still unable to achieve economies of scale. However, MSIG Indonesia's initial steps in carrying out its commitment can be seen from the company's business portfolio, which has insured Battery-Based Electric Motorized Vehicles (KBLBB) for passenger cars and two-wheelers, including electric vehicle batteries and Public Electric Vehicle Charging Stations (SPKLU).

Read more about MSIG Indonesia's partnership with AAF at this link.