Depok-In an era that increasingly emphasizes the importance of financial literacy, insurance has become a crucial aspect in people’s financial planning. However, the level of understanding of insurance among Indonesian people is still relatively low. Based on the National Survey of Financial Literacy and Inclusion (SNLIK) report by the Financial Services Authority (OJK) in 2022, the insurance literacy index of the Indonesian people was recorded at 31.72%. Seeing this phenomenon, one of the students of the Insurance and Actuarial Administration study program, Vocational Education Program, Universitas Indonesia (UI), Andrew Jhosua Huttua Silaban, managed to answer this challenge through his achievements as 3rd Place in the Insurance & Actuarial Olympiad and Insurance Literacy Competition held by STMA Trisakti on February 24, 2025.
Andrew delivered insurance literacy aimed at fellow students through a video themed “Insurance: Preparing a Safer Future”. The literacy highlights the importance of insurance in financial planning for the young generation of Indonesia, namely generation z, whose population currently reaches the highest number among other generations. The insurance literacy brought by Andrew to students as one of the target groups in accordance with the Indonesian National Financial Literacy Strategy (SNLKI) is very relevant. Other target groups are employees, farmers and fishermen, MSMEs, and housewives.
The six best participants from each category—students, lecturers, teachers, and practitioners—were selected to advance to the final round. In this final stage, Andrew was asked to present insurance literacy material directly in front of a panel of judges. “On this occasion, I would like to invite the younger generation to improve their insurance literacy. Starting from improving financial understanding, better financial planning, minimizing financial risks, protecting assets and income, to a culture of saving and short-term and long-term investment,” said Andrew.
Andrew emphasized that he had done thorough preparation before competing. Andrew conducted in-depth research on insurance literacy materials, collected data and real cases on the level of insurance penetration in Indonesia, and designed an effective communication strategy. This research was conducted on Andrew’s campus friends who were not from the Insurance Administration and Actuarial study program. The object of the research focused on the younger generation so that they understand the importance of insurance and financial planning. As a result, Andrew found that many of them still did not understand the concept of insurance, and were even reluctant to have insurance because of misperceptions and having a bad stigma about insurance. Andrew added, “Classroom learning also became a provision for me in preparing for this competition. One of them is the Introduction to Insurance course, as well as the Operational Principles of Insurance Companies. Through these courses, I gained a deep understanding of the concept of insurance, how insurance companies work, and the importance of good financial planning.”
Director of UI Vocational Education Program, Padang Wicaksono, S.E., Ph.D, said that the competition that Andrew participated in not only provided valuable experience, but also opened up opportunities to contribute to improving financial literacy in the community. “I congratulate Andrew on his achievements. Hopefully, the message that Andrew wants to convey regarding insurance literacy can be a learning platform for him before entering the industrial world. I hope that other students will also have the courage to participate in competitions according to their respective fields,” said Padang.
The Insurance & Actuarial Olympiad held by STMA Trisakti carries the theme “Building a Smart Generation in Facing Financial Risk Through Insurance and Actuarial Olympiad”. Meanwhile, the 2025 National Insurance Literacy Competition was held with the theme “Realizing a Smart Insurance Society Towards Golden Indonesia 2045”. Entering its second year, this competition has succeeded in attracting 318 participants from four categories, namely high school/vocational school/Islamic high school teachers, students, lecturers, and insurance practitioners. This competition aims to develop creative and effective insurance education methods for the community.
