AI-Powered Credit Life Underwriting Goes Real-Time Across Indonesia
Credit life insurers are facing a surge in claims. In response, PT Seleris Meditekno Internasional (Seleris) and PT IDPay Asia Jaya (IDPay) are rolling out an AI-driven underwriting platform that operates right at the point of credit-digital, real-time, and consistent across channels.
The platform plugs directly into IDPay's All-in-One ID Card Reader/EDC devices deployed in thousands of banking and finance outlets nationwide. Underwriting that used to take days can now be triggered in seconds while customers apply for loans.
What's Changing in the Workflow
- Instant risk assessment: AI scores applications in seconds, enabling straight-through decisions or routing to manual review.
- Branch-to-core integration: Data captured via EDC flows securely into the lender's systems and insurer rules engine, reducing errors and leakage.
- Consistent decisions: Standardized criteria lower variance across branches, agents, and channels.
"We are developing artificial intelligence technology that fundamentally changes the way the industry is doing underwriting," said Rinaldi Anwar Buyung, Founder of Seleris.
Reinsurer Confidence and Standards
Seleris states its Credit Selection Platform has been recognized by global reinsurers with minimum AM Best and S&P A ratings after audits of its algorithm, methodology, and predictive accuracy. This signals alignment with international expectations on risk selection and governance.
Compliance, Privacy, and Security
The companies stress compliance with Indonesia's Personal Data Protection Law No. 27 of 2022, reinforced by layered security and encryption at the point of data entry. For teams aligning policies and DPIAs, the full law is available here.
Expect audit trails, access controls, and data minimization to be central to implementation designs across banks and insurers.
Operational Impact for Insurers
- Lower claim ratios through sharper risk selection and consistent eligibility rules.
- Cleaner credit portfolios for partner lenders, improving loss ratio stability.
- Faster decisions that lift acceptance rates for good risks and reduce friction for customers.
- Better reinsurance dialogue based on validated model performance and governance artifacts.
What Insurers Should Prepare Next
- Integration: Map data fields, scoring APIs, and decision rules; set latency targets; define offline and exception handling.
- Model governance: Approvals, documentation, challenger models, recalibration cadence, and independent validation.
- Fairness and bias checks: Segment-level monitoring and action thresholds to catch drift early.
- Compliance: PDPL-ready consent flows, retention schedules, and DPIA; align with OJK expectations for model risk.
- Reinsurance alignment: Share validation packs; agree on underwriting boundaries, exclusions, and referral thresholds.
- Product and pricing: Revisit premiums, age bands, waiting periods, and benefit triggers informed by new risk tiers.
- Branch readiness: Train frontline staff on consent capture, data quality, and exception routing.
Why It Matters for Distribution and Customers
Processing at the point of credit cuts back-and-forth and reduces manual errors. Customers get clear outcomes faster, while institutions keep risk discipline intact. "The algorithm can assess risk in seconds, trained on millions of records for accuracy and standardization," said Adrian Kurniady, Chief Business Development Officer at IDPay.
Security and Trust at Scale
Encryption and multi-layer controls protect data from the moment it's captured. Combined with transparent governance, this approach can help sustain affordability and access to credit life protection as claim ratios normalize over time.
Skills and Enablement
If you're upskilling underwriting, risk, and distribution teams on AI practices and tooling, explore focused learning paths by role here.
The companies frame this as a step toward tighter integration of financial and health services across Indonesia. The direction is clear: faster underwriting, tighter controls, and stronger portfolio outcomes-without compromising privacy.
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