Askrindo Insurance

What Askrindo Insurance does

PT Asuransi Kredit Indonesia (Askrindo) is a state-owned general insurer and credit guarantor established on April 6, 1971, and headquartered in Jakarta Pusat, Indonesia. The company operates as part of the Indonesia Financial Group (IFG) holding structure under Ministry of State-Owned Enterprises oversight, and ranks #1 in Indonesia's Credit Insurance, Suretyship, and On-Shore Line of Business segments. Its core function is providing credit guarantees on behalf of the Indonesian government — particularly under the Kredit Usaha Rakyat (KUR) program, where it guaranteed Rp124 Trillion covering 2,298,325 UMKM debtors in 2024 — alongside a broader portfolio that includes surety bonds, customs bonds, counter bank guarantees, marine hull insurance, and general lines (fire, property, cargo, machinery, heavy equipment, travel, liability, personal accident).

The company generates revenue through gross premiums across Financial Insurance (KUR guarantees, credit insurance, trade credit insurance, surety bonds, counter bank guarantees, customs bonds) and General Insurance (personal accident, fire, contractor, liability, cargo, property all risk, money, machinery breakdown, heavy equipment, travel), plus a growing micro insurance sub-line (Asuransi Mikro Rumahku, Usahaku, Bahari, Food Poisoning). FY2024 consolidated gross premiums totaled Rp10.2 Trillion, with Non-Program business contributing 30% of the mix, credit insurance generating Rp984 Billion, and suretyship generating Rp238 Billion. Underlying technology includes the Askrindo Core System (ACS) — a web-based microservices platform supporting acceptance, claims, subrogation, reinsurance, and finance — plus a CRM, the Askrindo Internal Rating (AIR) risk system, and the DigiAsk mobile application for personal accident insurance on iOS and Android. Distribution operates through direct enterprise sales, banking partner networks (Bank Himbara, private and regional development banks), insurance brokers (PT BGIB Insurance Brokers), co-insurance consortiums, retail channel partnership with Alfamart (10,000 SME partners), and digital self-service portals.

Name

Askrindo Insurance

Legal name

PT. Asuransi Kredit Indonesia

Website

https://askrindo.co.id

Company type

Private

Founded year

1971

Operating status

Operating

Headcount range

101–250 employees

Short description

Askrindo is a 54-year-old Indonesian state-owned general insurer and credit guarantor, part of the IFG holding, providing KUR government credit guarantees (Rp124 Trillion in 2024), surety bonds, and general insurance products to UMKM borrowers, corporate clients, and banking partners.

Ownership category

akta.pro rank

Product category

Credit Insurance and Surety Bonds

NAICS

Direct Insurance (except Life, Health, and Medical) Carriers (52412), Direct Property and Casualty Insurance Carriers (524126), Finance and Insurance (52), Direct Health and Medical Insurance Carriers (524114)

SIC

Surety Insurance (6351), Fire, Marine & Casualty Insurance (6331), Insurance Carriers, Nec (6399), Accident & Health Insurance (6321)

akta.pro primary industry

Notary / Bail / Miscellaneous Consumer Bonds (FSAJAIAK)

Keywords

• Credit insurance
• Surety bonds
• General insurance
• Credit guarantee
• Micro insurance

Headquarters

HQ city

Kemayoran

HQ country

Indonesia

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Credit Insurance Premiums: Insurance credit product generating Rp984 Billion in revenue in 2024, covering credit risk protection for lending institutions.
2. Suretyship Products: Surety bond and guarantee products generating Rp238 Billion in revenue, including Surety Bond Online (SBO) digital products.
3. Government Program Administration (KUR/PEN): Government-mandated program fees for Kredit Usaha Rakyat (KUR) and Pemulihan Ekonomi Nasional (PEN) credit guarantees. Askrindo guaranteed Rp124 Trillion in KUR and manages KMK PEN program.
4. General Insurance Products: Various general insurance products including fire, accident, cargo, property, machinery, heavy equipment, travel, contractor, and liability insurance.
5. Micro Insurance Products: Affordable micro insurance products (Asuransi Mikro Rumahku, Asuransi Mikro Usahaku, Asuransi Mikro Bahari, Asuransi Keracunan Makanan) targeting micro and small enterprises.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels6 records

Core offering

Askrindo Insurance (PT Asuransi Kredit Indonesia) is a state-owned insurance and guarantee company offering credit insurance, surety bonds, and general insurance products. It serves as the government-designated Collateral Substitution Institution for the Kredit Usaha Rakyat (KUR) program, guaranteeing loans for micro, small, and medium enterprises lacking sufficient collateral. The product portfolio includes credit insurance, trade credit insurance, surety bonds, counter bank guarantees, customs bonds, and general insurance lines such as fire, personal accident, cargo, contractor, liability, and property insurance, along with micro insurance products targeting underserved segments.

Product overview

Askrindo Insurance (PT Asuransi Kredit Indonesia) operates as a State-Owned Enterprise (BUMN) insurance and guarantee company, member of Indonesia Financial Group (IFG) holding. The company offers a comprehensive portfolio organized into Financial Insurance (KUR Guarantee, Credit Insurance, Trade Credit Insurance, Surety Bond, Counter Bank Guarantee, Customs Bond) and General Insurance (Personal Accident, Fire, Contractor, Liability, Cargo, Property All Risk, Money, Machinery Breakdown, Heavy Equipment, Travel Insurance). The company has also developed micro insurance products (Rumahku, Usahaku, Bahari, Food Poisoning) targeting underserved segments, and digital innovations including Surety Bond Online (SBO), Geber Surety Bond, and SIKEBAL. Technology infrastructure includes Askrindo Core System (ACS), Customer Relationship Management (CRM), and Askrindo Internal Rating (AIR) systems. The DigiAsk mobile app provides digital access to personal accident insurance.

Differentiator

Problem solved

Functional benefit

Brands

• DigiAsk: Mobile application for personal accident insurance
• Asuransi Mikro Rumahku
• Asuransi Mikro Usahaku
• Asuransi Mikro Bahari
• Surety Bond Online (SBO)
• SIKEBAL
• Geber Surety Bond

Quantifiable outcome

• Rp124 Trillion KUR guaranteed in 2024 supporting 2.3 million UMKM debtors and 3.3 million workers
• +2 more outcomes

Named customers8 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

14 partnerships are on record, tiered flagship, core, major and minor.

• Alfamart (PT Sumber Alfaria Trijaya Tbk)flagshipStrategic or Co-development Partner · 27 May 2025Insurance protection program for 10,000 Alfamart UMKM partners covering work accident and fire risks with total coverage up to Rp50 billion, providing protection and financial literacy to small business owners.
• PT Transcoal Pacific TbkflagshipStrategic or Co-development Partner · 19 May 2025Maritime shipping company for whom Askrindo provides Marine Hull and Machinery Insurance coverage for hundreds of vessels with coverage up to Rp591 billion.
• Indonesia Financial Group (IFG)coreStrategic or Co-development Partner · 31 March 2020Askrindo joined the Indonesia Financial Group (IFG) holding company on March 31, 2020, as part of the state-owned insurance and guarantee holding structure under the Ministry of State Enterprises.
• Bank SulutGo (PT Bank Pembangunan Daerah SulutGo)majorChannel Partner/ Reseller/ Distributor · 4 September 2019Regional development bank partnership for distribution of credit insurance (construction and non-construction) and bank guarantee products in Eastern Indonesia.
• Ministry of Finance (Kementerian Keuangan)coreStrategic or Co-development PartnerGovernment ministry providing regulatory oversight and policy support for insurance and guarantee operations in Indonesia.
• AAUI (Asosiasi Asuransi Umum Indonesia)coreStrategic or Co-development PartnerIndonesia General Insurance Association providing industry standards, regulatory guidance, and professional development for general insurance companies.
• PT BGIB Insurance BrokersmajorChannel Partner/ Reseller/ DistributorInsurance broker coordinating multi-party insurance coverage for PT Transcoal Pacific vessels including Askrindo and other insurers.
• PT Tugu Pratama IndonesiamajorChannel Partner/ Reseller/ DistributorCo-insurer in maritime insurance consortium providing coverage for PT Transcoal Pacific vessels.
• PT Jasa Raharja PuteramajorChannel Partner/ Reseller/ DistributorCo-insurer in maritime insurance consortium providing coverage for PT Transcoal Pacific vessels.
• PT Asuransi JasindomajorChannel Partner/ Reseller/ DistributorCo-insurer in maritime insurance consortium providing coverage for PT Transcoal Pacific vessels.
• PT Asuransi TripakartamajorChannel Partner/ Reseller/ DistributorCo-insurer in maritime insurance consortium providing coverage for PT Transcoal Pacific vessels.
• Bank Himbara (Bank BRI, Bank BNI, Bank Mandiri, BTN)coreChannel Partner/ Reseller/ DistributorState-owned banking group serving as primary distribution channel for KUR and PEN credit guarantee programs reaching millions of UMKM customers nationwide.
• Nasional ReminorOthersNational reinsurance company providing reinsurance support for Askrindo's insurance portfolio.
• Askrindo SyariahminorOthersSharia-compliant insurance subsidiary under the Askrindo group.

Scale indicators16 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• PT Asuransi Jasindo: Indonesian state-owned general insurer writing credit, surety, marine hull, and aviation insurance. Co-insures Askrindo on corporate accounts and competes directly in the same surety and credit insurance segments.
• PT Asuransi MSIG Indonesia: Joint venture P&C insurer offering property, marine, motor, and surety bonds across Indonesia. Competes with Askrindo in commercial lines and co-insures large corporate risks through broker networks.
• PT Asuransi Sinar Mas: Indonesian general insurer tied to the Sinar Mas conglomerate, offering property, marine, and surety lines. Direct competitor to Askrindo in the same commercial P&C segments.
• PT Asuransi Adira Dinamika: General insurer offering motor, property, marine cargo, and surety bonds. Adjacent competitor in the same P&C market with overlapping surety and credit insurance products.
• PT MNC Asuransi Indonesia: Indonesian general insurer providing property, casualty, marine, and surety products. Competes with Askrindo in commercial and surety segments and writes similar credit insurance products.
• PT Jasa Raharja Putera: General insurer providing personal accident, vehicle, and commercial lines. Co-insures Askrindo on corporate accounts and competes in similar property and casualty segments.
• PT Asuransi Tugu Pratama Indonesia: State-owned P&C insurer affiliated with Pertamina, offering surety, marine, and general insurance lines. Co-insures Askrindo on large corporate accounts such as PT Transcoal Pacific, making it the closest direct comparable in the Indonesian credit and surety market.
• PT Asuransi Tripakarta: Indonesian general insurer offering credit, surety, and property insurance. Co-insures Askrindo on corporate accounts and competes directly in surety and credit insurance.
• PT Asuransi Central Asia: Top-10 Indonesian general insurer offering property, marine, motor, and surety products. Direct competitor to Askrindo across multiple P&C lines including credit insurance and surety bonds.

Others

• PT BGIB Insurance Brokers: Indonesian insurance broker coordinating multi-party placements with Askrindo and co-insurers. Adjacent ecosystem participant enabling Askrindo's participation in large corporate accounts.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/ASKRINDO
• LinkedInlinkedin.com/company/pt-asuransi-kredit-indonesia-persero

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Askrindo Insurance