Indonesia’s insurance and reinsurance market is entering a decisive phase. Regulatory strengthening, economic ambition and shifting risk dynamics are pushing the industry to evolve beyond traditional models.

At the centre of this transition is a clear message from industry leaders: the future of insurance in Indonesia will be defined not just by capacity, but by capability, relevance and collaboration. Few voices carry as much weight in this conversation as Pak Yulius Bhayangkara (Pak Billy).

Chairman of the Indonesian Insurance Council (Dewan Asuransi Indonesia) and CEO of SedanaRe, he has spent more than three decades in the industry, spanning underwriting, broking and leadership across major global and local firms.

As Chairman of APPARINDO, representing nearly 200 broking firms, and a key liaison with regulators including OJK, Pak Yulius is widely regarded as one of the country’s most influential insurance leaders; a practitioner deeply embedded in both the strategic and operational realities of the market.

From transaction to advice: redefining the broker’s role

A defining shift in Indonesia is the evolution of brokers from transactional intermediaries to strategic advisors. Regulatory reforms aimed at strengthening capital, governance and market discipline are accelerating this transition.

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