Asuransi MAG

M. Reza Putra, General Manager Group Health & Surgical

PT Asuransi Multi Artha Guna, Tbk (AMAG) is one of the leading general insurance companies in Indonesia. In its 2025 financial report, AMAG reported insurance revenue of IDR 2.8 trillion, reflecting an 8.5% increase from the previous year, and total assets of IDR 5.7 trillion. The implementation of Good Corporate Governance and Risk Management as part of the company culture has established AMAG as a trusted reference for selling and managing insurance products under its holding company, Fairfax Asia Ltd. This strong foundation has enabled the company to consistently deliver value to its stakeholders while maintaining resilience amid economic uncertainty and industry challenges.

One product that has significantly contributed to the company's success is health insurance, which continues to show strong growth in line with rising public awareness of healthcare protection. Currently, AMAG offers two flagship products in Indonesia: MAGna Sehat, catering to local individuals, families, and SMEs, and International Private Medical Insurance (IPMI) – Precious Medicare. The Precious Medicare product offers a higher coverage limit of up to IDR 35 billion per year and extensive worldwide coverage, positioning it as a premium solution for customers who require broader and more comprehensive healthcare protection beyond domestic boundaries.

Since its launch in 2021, Precious Medicare has generated premiums of approximately IDR 260 billion (equivalent to USD 15.8 million), achieving a remarkable growth rate of 1,274% over the last two years and a policy retention rate of 98%. This strong performance reflects not only the competitiveness of the product but also a high level of customer satisfaction and trust. This indicates that the market is well acquainted with this product, making it a preferred choice for high-net-worth individuals (HNW) and senior-level management in large companies who seek greater protection and global coverage than general health insurance products aimed at the medium segment.

The introduction of Precious Medicare into the IPMI market offers an alternative to similar products that have become saturated since their emergence in the 1990s and 2000s. While many legacy products tend to offer rigid structures, Precious Medicare differentiates itself through competitive premiums and customizable options tailored to customer needs. These include specific membership requirements, flexible coverage items, and adjustable annual limits. Backed by direct international reinsurance partners and a reputable Third-Party Assistance (TPA), Precious Medicare is well equipped to meet market needs and deliver reliable quality service on a global scale.

The product’s resilience has also been proven through various global challenges. It has also been tested during the Covid-19 pandemic, adapted to the pressures of global health inflation from 2023 to 2025, and remained relevant amid anticipated health insurance regulatory changes between 2025 and 2026. At the same time, it continues to respond to evolving customer preferences, including the need for more seamless policy renewals, flexible benefit structures, and direct appointment arrangements from originating companies abroad. These capabilities further reinforce its position as a future-ready insurance solution.

In response to the evolving dynamics of the global health insurance industry, AMAG continues to strengthen its position through an adaptive and customer-centric approach. Rising medical inflation and shifting customer expectations toward more personalized and flexible services have become key drivers for continuous innovation in Precious Medicare. Beyond providing financial protection, the product is designed to deliver peace of mind through access to a wide international healthcare network, seamless claims processes, and responsive customer support. This has become increasingly relevant amid the growing global mobility of professionals and business leaders, who require comprehensive health protection solutions without geographical limitations.

Furthermore, the success of Precious Medicare is also driven by a focused and strategic distribution approach. AMAG consistently builds long-term relationships with corporate partners, brokers, and professional communities, enabling the company to effectively reach high-net-worth individuals. This strategy is reinforced by continuous market education on the importance of comprehensive international health protection, helping customers better understand the long-term value of investing in premium healthcare coverage. By combining competitive product offerings, strong global reinsurance support, and a service model centered on customer experience, Precious Medicare not only stands out as a flagship product but also reflects AMAG’s commitment to delivering relevant and sustainable insurance solutions in a rapidly evolving industry landscape.

Looking ahead, AMAG remains committed to further enhancing its health insurance portfolio by leveraging digital innovation and data-driven insights. The integration of technology into customer service, claims management, and policy administration is expected to improve efficiency and elevate overall customer experience. As digital adoption accelerates across industries, AMAG recognizes the importance of staying ahead by providing solutions that are not only comprehensive but also convenient and accessible.

To date, more than 2,500 participants have trusted Precious Medicare as their IPMI health insurance product, a testament to its strong value proposition and consistent performance. As the demand for international-standard healthcare protection continues to rise, AMAG is well positioned to capture further growth opportunities while maintaining its commitment to excellence, innovation, and customer-centricity.