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ABOUT DAYIN MITRA

Good Corporate Governance

PT Asuransi Dayin Mitra Tbk as a company that is publicly listed on the stock exchange, always applies the principles of good corporate governance for Issuers or Public Companies.

Insurance Companies are required to implement a remuneration policy for members of the Board of Directors, members of the Board of Commissioners and employees that encourages prudent behavior that is in line with the long-term interests of the company and fair treatment of policyholders, insured, participants, and / or parties entitled get the benefits.

In accordance with the Financial Services Authority Regulation Number 34 / POJK.04 / 2014 concerning the Nomination and Remuneration Committee of Issuers or Public Companies, and in order to improve the application of the principles of good corporate governance for Issuers or Public Companies related to the transparency of the Nomination and Remuneration process and to increase quality, competence, and responsibility of the Board of Directors and the Board of Commissioners, the Company has decided through the Decree of the Board of Commissioners Number 003 / SK-Dekom-ADM / X / 2015 dated 9 October 2015 regarding the Implementation of the Company’s Nomination and Remuneration Functions.

The Decree stipulates that the implementation of the Nomination and Remuneration function of the Company is carried out by the Board of Commissioners and / or by other appointed parties, with the following duties and responsibilities:

Nomination Function:

  1. Provide recommendations regarding:
    • Composition of the positions of members of the Board of Directors and / or members of the Board of Commissioners
    • Policies and criteria required in the Nomination process
    • Performance evaluation policy for members of the Board of Directors and / or members of the Board of Commissioners.
  2. Assess the performance of members of the Board of Directors and / or members of the Board of Commissioners based on benchmarks that have been prepared as evaluation materials.
  3. Provide recommendations regarding capacity building programs for members of the Board of Directors and / or members of the Board of Commissioners.
  4. Provide proposals for candidates who meet the requirements as members of the Board of Directors and / or members of the Board of Commissioners to be submitted to the GMS.

Remuneration Function:

  1. Provide recommendations regarding:
    • Remuneration Structure;
    • Remuneration Policy; and
    • Amount of Remuneration;
  2. Conduct performance appraisals in accordance with the remuneration received by each member of the Board of Directors and / or members of the Board of Commissioners.

INVESTMENT COMMITTEE

In accordance with the Financial Services Authority Regulation Number 2 / POJK.05 / 2014 concerning Good Corporate Governance for Insurance Companies, article 11, the Board of Directors of an Insurance Company is obliged to form an Investment Committee.

The investment committee is tasked with assisting the Board of Directors in formulating investment policies and overseeing the implementation of established investment policies.

In the same regulation, article 57, regarding Investment Governance, Insurance Companies are required to prepare investment policies and strategies in writing, periodically evaluated, at least 1 (one) time in 1 (one) year, and reported to the Chief Executive no later than 1 (one) month after being determined by the Board of Directors.

PT Asuransi Dayin Mitra Tbk as a general insurance company and a public company has obeyed and formed an Investment Committee in accordance with applicable regulations through the Decree of the Board of Directors Number 090-1 / DIR / PD / X / 2014 dated October 6, 2014.

The company has also made Investment Policies and Strategies through the Decree of the Board of Directors Number 091-1 / DIR / PD / X / 2014 dated 29 October 2014 and has also been submitted to the Financial Services Authority through Letter Number B.132 / Dir-Keu / XI / 2014 dated November 28, 2014.

Structure, Membership and Expertise

Investment Committee member structure:

Person in Charge: Purnama Hadiwidjaja

Members:

– Hanny Dumalang

– Sunarto

Based on the Regulation of the Financial Services Authority Number 2 / POJK.05 / 2014 concerning Good Corporate Governance for Insurance Companies, article 61, in addition to having an Investment Committee, the Insurance Company is also required to have a work unit or employee who performs investment management functions that meet the requirements as following:

  1. Carry out analysis functions and carry out, monitor, and report investment management.
  2. Have and implement internal control systems and procedures to ensure that investments are made in accordance with investment policies and strategies and do not violate laws and regulations.
  3. Have integrity and expertise and experience in the investment field.

The company has also established a work unit that carries out the investment management function that was previously established through the Decree of the Board of Directors Number 090-2 / DIR / PD / X / 2014 dated 6 October 2014.

Investment Policy and Strategy

The company prepares written investment policies and strategies, which are legalized through the Decree of the Board of Directors Number 091-1 / DIR / PD / X / 2014 dated 29 October 2014, adherence to investment policies and strategies is evaluated periodically, at least 1 (one) time in 1 (one) year.

Investment policies and strategies include:

  1. Wealth and liability profile of the Company.
  2. The match between the duration of the assets and the duration of the Company’s obligations.
  3. Investment objectives.
  4. The target level of expected investment returns, including the yield benchmarks used.
  5. The basis for valuation and qualitative limits for each type of investment asset.
  6. Maximum limit of investment allocation for each type of investment asset.
  7. The maximum limit of the proportion of company assets that can be placed on one party.
  8. The maximum limit for the number of assets that are not placed (idle assets) in the form of investment.
  9. Investment objects that are prohibited from placing investments.
  10. The minimum liquidity level of the company’s investment portfolio to support the availability of funds for payment of insurance benefits.
  11. System for monitoring and reporting the implementation of investment management.
  12. Provisions regarding the use of investment managers, investment advisors, experts, and other service providers used in investment management.
  13. Terms of use of derivative instruments and other structured financial products for hedging purposes.
  14. The limitation of authority for investment transactions for each level of management and its accountability.
  15. Actions to be applied to the Board of Directors for violations of investment policies.

Investment policies and strategies are determined by the Board of Directors, disseminated to employees involved in investment management and submitted to the Financial Services Authority.

The Board of Directors prepares an annual investment management plan that contains:

  1. Investment type composition plan.
  2. The estimated rate of return on investment for each type of investment.
  3. The considerations underlying the investment type composition plan.

The annual investment management plan must reflect investment policies and strategies.

In managing investments, the Board of Directors must:

  1. An analysis of investment risk, which includes market risk, credit risk, liquidity risk and operational risk, as well as plans to overcome them in the event of an increase in investment risk.
  2. Adequate and documented studies in placing, maintaining and releasing investment.

The Board of Directors makes investment decisions in a professional manner and optimizes the value of the Company for Stakeholders, especially policyholders, the insured, participants, and / or parties entitled to benefit.

The company has a work unit or employee that carries out investment management functions that meet the following conditions:

  1. Carry out analysis functions and carry out, monitor, and report investment management.
  2. Have and implement internal control systems and procedures to ensure that investments are made in accordance with investment policies and strategies and do not violate laws and regulations.
  3. Have integrity and expertise and experience in the investment field.

Companies that invest in capital market investment instruments are required to administer securities to parties that are not affiliated with the Company.

The company has investments in shares traded on the stock exchange and has access to information that allows it to directly monitor the mutation of its investment portfolio.

The company has investment experts who have passed the examination as investment manager representatives.

PRODUCT DEVELOPMENT COMMITTEE

In order to comply with the Financial Services Authority Regulation No. 2 / POJK.05 / 2014 Companies are required to establish a Product Development Committee.

Directors through Directors Decree No. SK: 086-2 / DIR / PD / IX / 2014 has established a Product Development Committee and its working guidelines to support the principles of good corporate governance, namely transparency, accountability, responsibility, independence and equality.

The Work Guidelines contain, among others, the background, vision and mission, aims and objectives, structure, term of service, membership requirements, duties of responsibility and authority, code of ethics and others.

Structure, Membership and Expertise

Structure, Membership and Expertise
Person in Charge: Woen Subianto
Member : Andre Dharma

Responsible Profile

Indonesian citizen, born in Jakarta. He earned a Bachelor of Economics degree in Accounting from the YAI School of Economics, in 1996.

He started his career in Insurance at PT Asuransi Rama Satria Wibawa in 1991 – 1996 and handled the fields of Underwriting, Claim, and Reinsurance. Then he joined PT China Insurance Indonesia in 1997 to handle the field of Reinsurance, Finance, until he was appointed as Vice Manager of the Underwriting Center until 2005. After that he joined PT Asuransi Bina Dana Arta Tbk and served as Senior Manager from 2005 to 2007 In 2007, he joined PT Asuransi Buana Independent as a Reinsurance Manager. Subsequently, he joined PT Asuransi Umum Mega as a Reinsurance Manager in 2008 until he was appointed as Technical General Manager in 2011. He continued his career at PT Bess Central Insurance and PT Asuransi Reliance Indonesia as Technical General Manager until January 2018.

Started joining PT Asuransi Dayin Mitra Tbk in January 2018 as General Manager Technical.cc

The duties and responsibilities of the Insurance Product Development Committee are:

  1. Prepare a strategic plan for the development and marketing of insurance products as part of the strategic plan for the Company’s business activities.
  2. Conducting surveys and analysis of market needs for the products to be marketed.
  3. Evaluating the suitability of new insurance products that will be marketed with strategic plans for the development and marketing of insurance products.
  4. Evaluate the performance of insurance products and propose changes or discontinuation of their marketing.
  5. Making reports on the results of research carried out as well as other reports related to product development that must be submitted to the Financial Services Authority.

Description of the implementation of duties

Insurance products which are the development of existing insurance products

  1. The Product Development Committee will check whether this product development is already on the market.
    • The Product Development Committee will check whether this product development is already on the market.
    • If it is not yet in the market, the Product Development Committee will seek information from related parties who have data / information about the new feature
  2. The Product Development Committee will analyze whether the addition of these additional features can be done internally by the Company or requires third party services / services.
    • If it can be done internally, there will be no additional costs which will later add additional premiums so that it will no longer be competitive in the market.
    • If you need third party services / services, the Product Development Committee will look for third parties who have the said services / services. These third party service fees must be kept as low as possible so that the premium remains competitive.
  3. The Product Development Committee will check whether this expansion does not deviate from the existing Company Policy and is not excluded from the Company Reinsurance Treaty.
    • If you deviate from the Policy and are excluded from the Treaty, the process will stop
    • If you do not deviate from the Policy and are not excluded from the Treaty, the process will continue.
    • If you need facultative reinsurance support, the Product Development Committee will work with the Reinsurance Department to get facultative reinsurance support.
  4. The Product Development Committee will prepare all documents for submission to the OJK in order to get approval for the addition of related insurance features, including:
    • Risk & Loss Profile to get formulas and assumptions
    • Wording Endorsement for additional insurance features
    • Fill out the Assessment Form
    • Make a projection of underwriting results for the next 3 years
    • Create a Marketing Brochure for additional features
    • Make SPPA and Claim Form
    • Create a Marketing Description
    • Prepare a Reinsurance Support Letter
  5. After obtaining permission from the OJK, the additional insurance features can be sold to the market by the Company
  6. The Product Development Committee will continue to monitor the progress of the sales of this product whether it is in accordance with the initial projection.

Insurance products that are completely new and have never been marketed by the company

  1. The Product Development Committee will check whether this new product plan is already on the market.
    • If it is already in the market, the Product Development Committee will look for information on the market for this product, who is selling it, how the underwriting and loss records were, its market share and future prospects.
    • If it is not yet in the market, the Product Development Committee will seek information from related parties in the market, especially to obtain statistical data to formulate the premium amount, additional features that are of interest to the market.
  2. The Product Development Committee will analyze whether this new product can be carried out internally by the Company or requires third party services / services.
    • If it can be done internally, there will be no additional costs which will later add additional premiums so that it will no longer be competitive in the market.
    • If you need third party services / services, the Product Development Committee will look for third parties who have the said services / services. These third party service fees must be kept as low as possible so that the premium remains competitive.
  3. The Product Development Committee will check whether this new product does not deviate from the existing Company Policy and is not excluded from the Company’s Reinsurance Treaty.
    • If you deviate from the Policy and are excluded from the Treaty, the process will stop
    • If you do not deviate from the Policy and are not excluded from the Treaty, the process will continue.
    • If you need facultative reinsurance support, the Product Development Committee will work with the Reinsurance Department to get facultative reinsurance support.
  4. The Product Development Committee will prepare all documents for submission to OJK in order to get approval for this new insurance product, including:
    • Risk & Loss Profile to get formulas and assumptions
    • Wording Policy and Endorsement
    • Fill out the Assessment Form
    • Create an Underwriting Result Project for the next 3 years
    • Create a Marketing Brochure
    • Make SPPA and Claim Form
    • Create a Marketing Description
    • Prepare a Reinsurance Support Letter
  5. After obtaining permission from the OJK, this new insurance product can be sold to the market by the Company
  6. The Product Development Committee will continue to monitor the progress of the sales of this product whether it is in accordance with the initial projection

Meeting frequency and attendance rate

The meeting is divided into two, namely internal and external.

The internal meeting is a meeting between the Chair and Members of the Product Development Committee. The meeting was held 4 (four) times and was attended by all committee members.

External meetings are meetings between some committee members and outside parties, including the Freight Forwarder Association, Portal Service Providers, Road Assistance Service Providers, Insurance Agents and Brokers. The meeting was held 10 (ten) times.

RISK MANAGEMENT UNIT

Insurance Companies are required to apply risk management by identifying, assessing, monitoring and managing business risks effectively and must also be adjusted to the objectives, business policies, size and complexity of the business as well as the Company’s capabilities.

The company faces various risks in each division and department, whether it appears in every transaction, work flow, policy, procedure or business decision. It is recognized that these risks are the responsibility of all employees which must be identified, analyzed and monitored with effective mitigation so that they can be minimized.

The Risk Management Unit is responsible for policy making, risk management framework and monitoring business process activities. The risk management unit determines the level and limits of risk by evaluating the likelihood and impact level of the risk, then determining the level of risk that can be tolerated according to the Company’s business strategy with reference to the risk management policies that have been made.

Structure, Membership and Expertise

The company already has a Risk Management Unit which carries out the process of identification, analysis, evaluation, handling, monitoring and review and communication.

The company has decided to appoint an employee who is responsible for the Risk Management Unit through the Decree of the Board of Directors Number 084 / DIR / PD / IX / 2019 by appointing:

Person in Charge: Dawidju Widjaja
Member: Christi Yanti

The risk management system implemented by the Company.

The company makes Risk Management Guidelines as a guide in the implementation of risk management which is the implementation of GCG.

The company implements risk management through the following processes:

Risk identification:

The process is carried out systematically to identify any risks that have the potential to hinder the achievement of company goals and objectives.

Risk analysis:

The risk assessment process is carried out to ensure that all risks have been assessed for likelihood and consequence.

Risk evaluation:

The process is carried out to compare the level of risk so that it is known the risks that require further treatment / mitigation.

Handling of risks:

The process for determining the most appropriate, effective, efficient and implementable risk treatment options.

Risk monitoring and review:

The process used to review risks, the effectiveness of risk management, risk management processes and monitoring of risk management implementation plans.

Communication and consultation:

The process undertaken to plan, communicate and manage the ongoing risk management process.

Risk Management Unit Work Guidelines

As a company that always carries out the principles of Good Corporate Governance as regulated by the Financial Services Authority through the Financial Services Authority Regulation Number 2 / POJK.05 / 2014 concerning Good Corporate Governance for Insurance Companies, the Company has formed and compiled the Risk Management Unit Work Guidelines. which includes among others the objectives, powers and responsibilities of the Risk Management Unit.

Through the Decree of the Board of Directors Number 089-1 / DIR / PD / IX / 2014 dated 24 September 2014, the Company established the Work Guidelines for the Risk Management Unit of PT Asuransi Dayin Mitra Tbk which includes:

  1. Background
  2. Vision and mission
  3. Purpose and objectives
  4. Formation
  5. Risk Management Unit Structure
  6. Service Period
  7. Risk Management Unit Membership Requirements
  8. Evaluation
  9. Duties and Responsibilities of the Risk Management Unit
  10. Risk Management Unit Authority
  11. Risk Management Unit Meeting
  12. Reporting
  13. Code of Ethics
  14. Risk Management Unit Monitoring
  1. Background
    • That every company faces various risks in each of its operational activities.
    • That these risks must be identified, assessed, monitored and managed effectively
  2. Vision and mission
    Vision:
    To become a unit with integrity and dedicated in carrying out risk management for the Company.
    mission:
    Identify, assess, monitor, and manage risk management in the Company.
  3. Purpose and objectives
    The Risk Management Unit Guidelines are formulated as a reference in carrying out duties to support the principles of Good Corporate Governance, namely Transparency, Accountability, Responsibility, Independence and Equality.
  4. Formation
    This Risk Management Unit was formed based on the Financial Services Authority Regulation No.2 / POJK.05 / 2014 concerning Good Corporate Governance for Insurance Companies and ratified by a decision of the Board of Directors.
  5. Risk Management Unit Structure
    Risk Management Unit members are appointed and dismissed by the Board of Directors.
  6. Service Period
    • The term of service of the Risk Management Unit is determined by the Board of Directors and is valid until the appointment letter is revoked.
    • The Board of Directors can terminate members of the Risk Management Unit at any time if they are deemed not carrying out their duties as stated in the decision letter to appoint members of the Unit.
  7. Risk Management Unit Membership Requirements
    • Have high integrity, ability, knowledge and sufficient experience in accordance with their educational background, and are able to communicate well.
    • Have sufficient knowledge to read and understand financial reports and other reports related to risk management.
    • Have a good knowledge of risk management.
    • Have adequate knowledge of the applicable laws and regulations and insurance regulations
  8. Evaluation
    The performance of the Risk Management Unit is evaluated annually in the form of a risk management report.
  9. Duties and Responsibilities of the Risk Management Unit
    • Perform risk identification.
    • Conduct an assessment of the risks that occur in the Company.
    • Monitoring the parts that have a high risk potential.
    • Manage business risk effectively.
    • Create reports related to risk management.
    • Maintain the confidentiality of Company documents, data and information.
  10. Risk Management Unit Authority
    The Risk Management Unit has the authority to access information regarding the Company’s risks relating to the implementation of its duties.
  11. Risk Management Unit Meeting
    • The Risk Management Unit holds a meeting to make decisions on determining risk tolerance.
    • Each Risk Management Unit meeting is outlined in the minutes of the meeting signed by all members of the Risk Management Unit present.
  12. Reporting
    • The Risk Management Unit reports to the Board of Directors on the results of the implementation of its duties.
    • The Risk Management Unit prepares certain reports if a significant risk is found that could affect the Company’s operations.
    • The Risk Management Unit prepares reports to be submitted to third parties, such as the Financial Services Authority in accordance with applicable regulations
  13. Code of Ethics
    • Upholding integrity, professionalism in carrying out duties as a Risk Management Unit.
    • Carry out every task and responsibility honestly, objectively and independently for the benefit of the Company.
    • Avoid activities that are against the law, ethics and norms prevailing in society as well as activities that are contrary to the interests and objectives of the Company.
    • Not receiving compensation for anything other than what has been determined as a reward for his duties.
    • Maintain the confidentiality of Company information and will not disclose information unless justified by applicable laws and regulations.
    • Conduct an assessment using strong evidence and do not use information relating to the Company for other purposes.
    • Continuously developing professional skills and expertise.
  14. Risk Management Unit Monitoring
    The Risk Monitoring Committee monitors the Risk Management Unit on the implementation of its duties. The risk management unit submits a report on the results of the implementation of its duties to the Risk Monitoring Committee which can further provide advice on reducing risk from a high level to a lower level acceptable to the Company.

Considering whereas in order to comply with the Financial Services Authority Regulation No. 01 / POJK.07 / 2013 dated 26 July 2013 concerning Consumer Protection in the Financial Services Sector as stipulated in article 36 paragraph (1), Financial Services Business Actors are required to have a work unit and / or function to handle and resolve complaints submitted by consumers.

Financial Services Business Actors have the right to ensure there is good faith of consumers and obtain accurate, honest, clear, and not misleading information and / or documents regarding Consumers.

Financial Services Business Actors are required to provide updated and easily accessible information to consumers regarding products and / or services.

Structure, Membership and Expertise So based on the Decree of the Board of Directors SK: 054 / DIR / PD / II / 2015 PT. Asuransi Dayin Mitra, Tbk stipulates the formation and preparation of the Consumer Protection, Literacy and Financial Inclusion Unit Work Guidelines by appointing:

Person in charge: Sabbath Wibisana

Members:

– Efran DM Sinaga

– Sanna Lauwandy

Duties and Responsibilities of the Consumer Protection, Financial Literacy and Inclusion Unit

  1. Implementing service mechanisms and resolving consumer complaints through cooperation with related departments
  2. Notifying the service mechanism and complaint resolution to consumers.
  3. Making all reports on Consumer Protection submitted to the Financial Services Authority (“OJK”).
  4. Deliver information about products that is accurate, honest, clear and does not mislead consumers.

Regarding the Work Guidelines for the Consumer Protection Unit, Financial Literacy and Inclusion

Purpose and objectives

The Consumer Protection Unit Guidelines are formulated as a reference in carrying out duties to support the principles of consumer protection in the financial services sector, namely transparency, fair treatment, reliability, confidentiality and security of consumer data / information, as well as handling complaints and resolving consumer disputes in a simple, fast and affordable cost.

Background

  1. To protect consumers from fraud, deviation, misleading and obfuscation of information committed by Financial Service Business Actors.
  2. Financial Services Business Actors (PUJK) are required to submit information about products that are accurate, honest, clear and not misleading

Formation

The Consumer Protection Unit was formed based on Financial Services Authority Regulation No. 01 / POJK.07 / 2013 concerning Consumer Protection in the Financial Services Sector and ratified by a decision of the Board of Directors

Vision and mission

Vision : To become a unit that has integrity and is competent in handling and resolving complaints properly to improve customer satisfaction.

Mision : Deliver information about products that are accurate, honest, clear, not misleading, and accept consumer complaints and try to resolve them.

Structure of the Consumer Protection Unit, Financial Literacy and Inclusion

Members of the Consumer Protection, Literacy and Financial Inclusion Unit are appointed and dismissed by the Board of Directors

Service Period

  1. The term of service of the Consumer Protection Unit is determined by the Board of Directors and is valid until the appointment letter is revoked.
  2. The Board of Directors can terminate members of the Consumer Protection Unit at any time if they are deemed not carrying out their duties as stated in the decision letter to appoint unit members.

Requirements for membership in the Consumer Protection, Financial Literacy and Inclusion Unit

Have high integrity, ability, knowledge and experience that are adequate in accordance with their educational background and able to communicate well.

Evaluation

The performance of the Consumer Protection, Literacy and Financial Inclusion Unit is evaluated annually in the form of a self-assessment report.

The Authority of the Consumer Protection Unit, Financial Literacy and Inclusion

The Consumer Protection, Literacy and Financial Inclusion Unit has the authority to access information in the Company relating to the implementation of its duties.

  • Consumer Protection Unit Meeting, Financial Literacy and Inclusion
    1. The Consumer Protection, Literacy and Financial Inclusion Units hold meetings to make high impact decisions
    2. Every Consumer Protection Unit meeting is outlined in the minutes of the meeting signed by all members of the Consumer Protection Unit who are present.
  • Reporting
    1. The Consumer Protection Unit reports to the Board of Directors on the results of each of its duties
    2. The Consumer Protection Unit makes certain reports if there is a case that has a major impact both in material and reputation on the Company regarding consumer protection
    3. The Consumer Protection Unit prepares reports to be submitted to third parties, such as the Financial Services Authority in accordance with applicable regulations.
  • Code of Ethics
    1. Upholding integrity, professionalism in carrying out duties as a Consumer Protection Unit.
    2. Carry out every task and responsibility honestly, objectively and independently for the benefit of the Company.
    3. Avoid activities that are against the law, ethics and norms prevailing in society as well as activities that are contrary to the interests and objectives of the Company.
    4. Not receiving compensation for anything other than what has been determined as a reward for his duties.
    5. Maintain the confidentiality of Company information and will not disclose information unless justified by applicable laws and regulations.

CONSUMER PROTECTION UNIT GUIDELINES

GENERAL REQUIREMENTS

These guidelines contain provisions and procedures aimed at realizing a national economy capable of growing sustainably and stably, activities in the financial services sector that are organized regularly, fairly, transparently and accountably, and capable of realizing a financial system that grows sustainably and stably, and is capable of protect the interests of consumers and society.

The Financial Services Authority (OJK) issued Regulation Number: 01 / POJK.07 / 2013 concerning consumer protection in the financial services sector to protect consumers from fraud, irregularities, misleading and obfuscation of information committed by Financial Service Business Actors.

Good Corporate Governance is to create and implement good responsibility to society. Financial Services Business Actors are required to provide or convey information about products / services that are accurate, honest, clear and not misleading. In addition, Financial Services Business Actors must submit information that is up to date and easily accessible, in addition to the obligation to use terms, phrases and sentences in Indonesian that are easy for consumers to understand.

• DEFINITION

¬ Consumer

Are parties who place their funds and / or take advantage of services available at the Financial Services Institution, including customers / policyholders in insurance based on the laws and regulations in the financial services sector.

¬ Financial Services Actors

Are commercial banks, people’s credit banks, securities companies, investment advisors, custodian banks, pension funds, insurance companies, reinsurance companies, financing institutions, pawn companies and insurance companies, both of which carry out their business activities conventionally and in sharia.

¬ Loss Insurance Company

Is an insurance company that provides services in dealing with the risk of loss, loss of benefits, and legal liability to third parties, which arise from uncertain events.

5 (five) Principles of Consumer Protection in the Financial Services Sector:

a. Transparency b. Fair treatment c. Reliability d. Confidentiality and security of consumer data / information e. Handling complaints and resolving consumer disputes in a simple, fast and affordable cost.

Ad. a. Transparency :

It is the obligation of the Financial Services Institution to provide information about products and / or services to consumers, either in writing, electronically and orally, in a clear, complete, timely manner and in an understandable language so that consumers can use it to make decisions. The company also organizes education in order to improve financial literacy for consumers and / or the public.

The information provided is applied in documents or other means that can be used as evidence. Information is conveyed when providing an explanation to consumers regarding their rights and obligations, submitted when making agreements with consumers, containing requirements and can be legally binding on Consumers, current and easily accessible to consumers regarding products and / or services.

Financial Service Providers are required to use simple terms, phrases, symbols, diagrams and / or sentences in Indonesian that are easy for consumers to understand. The use of foreign languages ​​in making a document must be juxtaposed with Indonesian.

A summary of the information and / or services as intended must be made in writing and contain information:

  • Benefit from the product offered
  • The risks that must be borne.
  • Costs of products / services that must be borne by consumers.
  • Consumer rights and obligations.
  • Service procedures and settlement of complaints in case of dissatisfaction with product use.
  • Other terms and conditions.

Ad. b. Fair treatment:

It is the obligation of the Financial Services Institution to treat consumers fairly, politely (respectful) and not discriminatory (discriminatory is treating other parties differently based on ethnicity, religion and race).

Financial Services Business Actors are required to provide equal access to each Consumer according to the Consumer classification of the products and / or services provided, the consumer classification by the Financial Service Providers is based on:

  • Consumer background.
  • Information regarding work.
  • Average income.
  • The purpose and purpose of using the product and / or service.
  • Other information used to determine Consumer classification.

Financial Services Business Actors must also pay attention to the compatibility between the needs and abilities of consumers, it is prohibited to use marketing strategies that are detrimental to consumers by taking advantage of the condition of consumers who have no other choice in making decisions.

Financial Services Business Actors are required to fulfill the principles of balance, fairness and fairness in making agreements with consumers.

The agreement in question is prepared in accordance with statutory regulations, can be in digital / electronic form, and is prohibited from:

  • Declare the transfer of responsibility or obligation of the Financial Service Business Actors to the Consumers.
  • Declare that Financial Services Business Actors have the right to refuse refunds of money paid by consumers, if there is an error in the production of goods or services offered to consumers.
  • Declare the granting of power from the consumer to the Financial Service Business Actors, either directly or indirectly, to take unilateral action on goods that have been pledged by the consumer.
  • Regulates the obligation of proof by the Consumers, if the Financial Service Business Actors declare that the loss of the use of the products and / or services purchased by the Consumers is not the responsibility of the Financial Services Business Actors.
  • Give rights to Financial Service Business Actors to reduce the use of products and / or services.
  • Declare that the Consumers are subject to new regulations, additions, continuation and / or changes made unilaterally by the Financial Services Business Actors during the period when the Consumers take advantage of the products and / or services they purchased.
  • Declare that the Consumers authorize the Financial Services Business Actors to impose liability, lien, or security rights for products and / or services purchased by the Consumer in installments.

Financial Service Business Actors are required to avoid conflict of interest between Financial Service Providers and Consumers, and provide information if there is a potential or conflict of interest. Financial Services Business Actors are also required to provide special services to consumers with special needs.

Ad. c. Reliability :

It is the obligation of the Financial Services Institution to provide accurate and timely services through reliable systems, procedures, infrastructure and human resources.

Financial Service Business Actors guarantee service quality and maintain the security of deposits, funds or assets that are under the responsibility of Financial Services Institutions.

Financial Services Business Actors provide proof of product ownership and / or service utilization to consumers on time according to the agreement with the consumer.

Financial Service Providers provide reports to consumers regarding the position of balances and movements of consumer deposits, funds, assets, or liabilities accurately and on time according to the agreement with the consumer.

Financial Services Business Actors are required to carry out Consumer instructions in accordance with the agreement with the Consumers and are also responsible for losses arising from the negligence of the Financial Services Institution, management, employees or third parties working for the Financial Services Institution.

Financial Services Business Actors must be able to arrange their management, supervisors and employees to:

  • Do not enrich or benefit oneself or other parties at the expense of consumers.
  • Not to abuse the power, opportunity, or means available to him because of his position or position, which may harm the consumer.
  • Comply with the code of ethics in serving consumers, which has been determined by each Financial Service Business Actor.
  • Responsible to consumers for actions taken by third parties acting in the interests of Financial Service Business Actors

Ad. d. Confidentiality and security of consumer data / information:

It is the obligation of the Financial Services Institution to provide protection, maintain the confidentiality and security of consumer data / information, and only use it according to the interests and purposes agreed by the consumer.

Financial Services Business Actors are prohibited in any way, providing data and / or information regarding their Consumers to third parties, except in the following cases:

  • Consumers give written consent to provide personal data and / or information to any party, including Financial Service Business Actors.
  • Required by laws and regulations (for example regulations regarding Know Your Customer Principles (PMN) in each registration application to become a Customer for Financial Service Business Actors)

The cancellation or partial change of approval for data and / or information disclosure shall be made in writing by the consumer in the form of a statement letter.

Ad. e. Handling complaints and resolving consumer disputes in a simple, fast and affordable cost:

It is the obligation of the Financial Services Institution to handle consumer complaints and resolve disputes in an effective, efficient, responsive and timely manner.

Financial service actors are required to have and implement a service and complaint resolution mechanism for consumers, have a work unit and / or function to handle and resolve complaints submitted by consumers and also be notified of the mechanism or method of reporting to consumers.

Financial Service Providers are required to appoint 1 (one) employee at each Financial Service Provider office to handle the settlement of consumer complaints.

Financial Services Business Actors are prohibited from imposing any fees for complaints submitted by consumers. Periodically report the existence of consumer complaints and follow-up services and settlement of consumer complaints to the Financial Services Authority (OJK) no later than the 10th (tenth) of every 3 (three) months.

Financial Services Business Actors must immediately follow up and resolve complaints no later than 20 (twenty) working days after the date of receipt of the complaint, and the time period can be extended up to no later than 20 (twenty) working days, in the following conditions:

  • There are communication problems or differences in complaints between the offices of the Financial Service Business Actors.
  • Financial transactions that are complained by consumers require special research on documents of Financial Service Business Actors.
  • There are other matters beyond the control of the Financial Service Providers, for example the involvement of third parties outside the Financial Services Business Actors in financial transactions conducted by consumers.

The extension of the period for completing complaints must be notified in writing to the consumer who submits the complaint before the end of the first 20 (twenty) working days.

After receiving a consumer complaint, the Financial Service Provider must:

    • Internal examination of complaints in a competent, correct and objective manner.
    • Conduct analysis to ensure the truth of the complaint.
    • Deliver an apology and offer compensation or repair of products and / or services, if the consumer’s complaint is true.

If the settlement of the complaint does not reach an agreement, the consumer can resolve the dispute outside the court (alternative dispute resolution institution) or through the court.

However, if not through a court or alternative dispute resolution institution, the consumer can submit a request to the Financial Services Authority to facilitate the settlement of complaints from consumers who have suffered losses.

Complaint Resolution Facilities by the Financial Services Authority (OJK):

Consumers can submit complaints indicating disputes between Financial Service Business Actors and consumers or violations of the provisions of laws and regulations in the financial services sector to the OJK.

Consumers will be facilitated by the resolution of complaints by the OJK that indicate disputes in the financial services sector, if they meet the following conditions:

    1. Consumers suffer financial losses
      • Financial services business actors in the general insurance sector, a maximum of IDR 750,000,000 (seven hundred and fifty million rupiah).
      • Financial services business actors in the banking sector, capital market, pension funds, life insurance, financing, pawn companies, or guarantor, with a maximum of IDR 500,000,000 (five hundred million rupiah).
    2. The consumer submits a written application accompanied by supporting documents relating to the complaint.
    3. Financial Services Business Actors have made efforts to resolve complaints but the consumers cannot accept the settlement and have passed the limit set by OJK regulations.
    4. The complaint submitted is not a dispute that is in process or has been decided by an arbitration institution or court or other mediation institution.
    5. The complaint submitted is civil in nature.
    6. Complaints have never been facilitated by OJK.
    7. Such submission does not exceed 60 (sixty) working days from the date of the result of the Complaint resolution letter submitted by the Financial Service Provider to the Consumers.

The provision of complaint resolution facilities carried out by the OJK seeks to bring together consumers and financial service business actors to review fundamental problems in order to obtain a settlement agreement.

OJK appoints a facilitator to carry out the complaint resolution function, starting the facilitation process as outlined in the form of an agreement which contains:

      • An agreement to choose a complaint resolution facilitated by the OJK.
      • Obey and comply with the facilitation rules set by the OJK.

Implementation of the facilitation process until the signing of the Agreement Deed is carried out within a maximum period of 30 (thirty) working days from the time the Consumer and Financial Service Businesses sign the facilitation agreement, and can be extended up to the next 30 (thirty) working days.

The agreement that resulted from the facilitation of the OJK was stated in the Agreement Deed signed by both parties. If in this case there is no agreement, then the disagreement will be stated in the minutes of the OJK facilitation results which are also signed by both parties.

• Internal control

      1. The Board of Directors and management of Financial Service Business Actors are responsible for complying with the implementation of OJK regulations on Consumer Protection in the Financial Services Sector.
      2. The Board of Commissioners or supervisors of the Financial Services Business Operators shall supervise the responsibilities of the Board of Directors or management regarding the provisions of this rule.
      3. Financial Services Business Actors establish a reporting system to ensure the optimization of supervision by the Board of Directors or management towards compliance with the implementation of this rule.
      4. Financial Service Providers have and implement written consumer protection policies and procedures (including in this Standard Operating Procedure) and must also be obeyed by the management and employees of the Financial Service Providers.

OJK will supervise the compliance of Financial Service Businesses with the provisions of implementing this regulation, OJK is authorized to request data and information from Financial Service Businesses related to the implementation of Consumer protection provisions and this is done periodically or at any time if needed.

• Penalty

Financial Services Business Actors and / or parties who violate the provisions in this OJK regulation are subject to administrative sanctions, including:

      1. Written warning.
      2. Fines / Obligation to pay a certain amount of money.
      3. Restrictions on business activities.
      4. Freezing of business activities.
      5. Revocation of business activity license.

Administrative sanctions can be imposed with or without prior written warning sanctions, fines can be imposed individually or together with other sanctions.

The amount of fines determined by OJK is based on the provisions on administrative sanctions in the form of fines that apply to each financial service sector. OJK can announce the imposition of sanctions on Financial Service Business Actors to the public.

Publikasi Penanganan Pengaduan
Periode : Juli – September 2021
PT Asuransi Dayin Mitra Tbk

No. Jenis Transaksi Keuangan Selesai Dalam Proses Tidak Selesai Jumlah Pengaduan
Jumlah Persentase Jumlah Persentase Jumlah Persentase
1 0 0 0 0
Total 0 0 0 0

Based on the Financial Services Authority Regulation Number 2 / POJK.05 / 2014 concerning Good Corporate Governance for Insurance Companies, article 7, Insurance Companies and Reinsurance Companies are required to have members of the Board of Directors who are in charge of the compliance function.

A member of the Board of Directors who is in charge of the compliance function cannot be concurrently held by a member of the Board of Directors who is in charge of the insurance engineering function, marketing function and financial function, except for the main director.

The Insurance Company and Reinsurance Company are required to have a work unit or employee that performs the compliance function. Work units or employees who carry out the compliance function are tasked with assisting the Board of Directors in ensuring compliance with laws and regulations in the insurance business sector and other laws and regulations.

Work units or employees who carry out the compliance function are responsible to the members of the Board of Directors who are in charge of the compliance function.

Structure, Membership and Expertise

That in order to comply with the Financial Services Authority Regulation Number 2 / POJK.05 / 2014 concerning Good Corporate Governance for Insurance Companies dated March 28, 2014, the Company has established a work unit or employee that carries out compliance functions through the Decree of the Board of Directors Number 067 / DIR / PD / V / 2019 dated May 7, 2019 appointed:

Person in Charge: Efran Sinaga

Member: Rio Tanandi

The company performs the function of compliance with laws and regulations, internal policies and agreements with other parties.

COMPLIANCE UNIT WORK GUIDE

As a commitment to implementing the compliance function with laws and regulations as well as regulations issued by the Financial Services Authority, the Company established a Work Guidelines from the Compliance Unit which was formed and approved by the Decree of the Board of Directors Number 083-1 / DIR / PD / VIII / 2014 dated 14 August 2014 which includes:

1. Background

2. Vision and Mission

3. Purpose and Objectives

4. Formation

5. Compliance Unit Structure

6. Service Period

7. Compliance Unit Membership Requirements

8. Evaluation

9. Duties and Responsibilities of the Compliance Unit

10. Compliance Unit powers

11. Compliance Unit Meeting

12. Reporting

13. Code of ethics

  1. Background
    • That every company needs to run its business in accordance with the prevailing laws and regulations.
    • Companies need to collect and submit reports to OJK and other third parties in a timely manner.
    • The application of applicable regulations and laws and their updates requires the handling of a separate unit
  2. Vision and Mission
    Vision:
    To become a unit with integrity and high dedication in obedience to the implementation of the prevailing laws and regulations.
    Missions:
    Carry out the task of monitoring every regulation or renewal of the applicable Insurance Law and coordinating its implementation in the Company.
  3. Purpose and Objectives
    This Compliance Unit Work Guidelines was prepared as a reference in carrying out duties to support the principles of Good Corporate Governance, namely Transparency, Accountability, Responsibility, Independence and Equality.
  4. Formation
    This Compliance Unit was established based on Financial Services Authority Regulation Number 2 / POJK.05 / 2014 and ratified by a Board of Directors Decree.
  5. Compliance Unit Structure
    Compliance Unit members are appointed and dismissed by the Board of Directors.
  6. Service Period
    • The term of office of the Compliance Unit is determined by the Board of Directors and is valid until the appointment letter is revoked.
    • The Board of Directors can terminate the Compliance Unit member at any time if he / she is deemed not carrying out the task as stated in the member appointment decision letter.
  7. Compliance Unit Membership Requirements
    • Have high integrity, ability, knowledge, and sufficient experience in accordance with their educational background and are able to communicate well.
    • Have adequate knowledge of the applicable insurance company laws and regulations as well as the renewal of each of these regulations.
    • Have a good coordination ability to every part of the implementation of applicable laws and their renewals.
  8. Evaluation
    Unit members’ performance is evaluated annually in the form of self-assessments.
  9. Duties and Responsibilities of the Compliance Unit
    • Conduct periodic monitoring of the applicable Insurance regulations and laws and their renewal of these laws.
    • Coordinating with each division regarding the submission of reports required by the OJK so that report submission is carried out according to the specified time.
    • Monitor the various parts of the Company to ensure that the Company has carried out its business in accordance with the prevailing laws and regulations
    • Submit reports on the results of the implementation of their duties to the Board of Directors and the Company secretary
  10. Compliance Unit powers
    The Compliance Unit is authorized to access information in the Company relating to the implementation of its duties.
  11. Compliance Unit Meeting
    • The Compliance Unit holds a meeting to discuss regulations including the renewal of regulations and laws that will be applied to the Company
    • Each Compliance Unit meeting is outlined in the minutes of the meeting signed by all members of the Compliance Unit present.
  12. Reporting
    • The Compliance Unit reports to the Compliance Director and Corporate Secretary on the results of the implementation of their duties
    • The Compliance Unit makes certain reports if there is a case that has a major impact on the Company related to compliance with applicable laws.
  13. Code of ethics
    • Upholding integrity, professionalism in carrying out duties as a Compliance Unit.
    • Carry out every task and responsibility honestly, objectively and independently solely for the benefit of the Company.
    • Avoid activities that are against the law, ethics, conflicts of interest and norms prevailing in society as well as activities that are contrary to the interests and objectives of the Company.
    • Do not receive a reward for anything outside of what has been determined as a reward for his duties.
    • Maintain the confidentiality of Company information and will not disclose such information unless justified by applicable laws and regulations.
    • Continuously developing professional skills and expertise.

Know Your Customer Principles are principles that are applied by the Non-Bank Financial Institution (LKNB) to determine the background and identity of the Customer, monitor Customer Accounts and transactions, and report Suspicious Financial Transactions and Financial Transactions conducted in Cash, including financial transactions related to Terrorism Activities Funding. .

Based on the Regulation of the Minister of Finance Number 30 / PMK.010 / 2010 concerning Application of Know Your Customer Principles for Non-Bank Financial Institutions, article 2, LKNBs are required to apply Know Your Customer Principles (PMN).

The Know Your Customer Principles are mandatory in the case of:

a. Establish policies and procedures for customer acceptance.

b. Establish policies and procedures for identifying customers.

c. Establish policies and procedures for monitoring Accounts and implementation of Customer transactions.

d. Establish risk management policies and procedures relating to the application of Know Your Customer Principles.

Structure, Membership and Expertise

In the framework of implementing Know Your Customer Principles, LKNB is obliged to establish a special work unit or assign a member of the board of directors or management or an officer at the same level as the board of directors or management who is responsible for implementing Know Your Customer Principles.

Therefore, the Company formed a special work unit named the Know Your Customer Principles Implementation Unit which was ratified by the Decree of the Board of Directors Number 055 / DIR / PD / II / 2015 dated 9 February 2015 by appointing:

Person in Charge: Maudia Abdulkadir

Member: Hanny Dumalang

Prior to forming the Unit, the Company had previously appointed or assigned a member of the board of directors or management or an officer at the same level as the board of directors or management who was responsible for implementing Know Your Customer Principles and after the unit was formed the responsibility for Know Your Customer Principles was fully the responsibility of the unit.

The company also always implements PMN for each customer who closes insurance, PMN is done at the time of acceptance of the risk that will be assessed from each customer. PMN is implemented by creating a specific form for each type of customer, namely agent customers, individual customers / individuals, and customers in the form of a legal entity / company.

The company is always consistent every year in disseminating PMN and reporting socialization activities to the Financial Services Authority in accordance with the applicable provisions, namely 15 after the financial year ends, in accordance with the Regulation of the Minister of Finance Number 30 / PMK.010 / 2010 concerning the Application of Know Your Customer Principles For Non-Bank Financial Institutions, article 33, paragraph 4, where NBFIs are required to submit reports on the implementation of Know Your Customer Principles training program to the Minister of Finance through the Head of the Capital Market and Financial Institution Supervisory Agency on January 15 of the following year.

WORK GUIDELINES FOR KNOWING CUSTOMER PRINCIPLE UNITS

On February 9, 2010, the Minister of Finance issued Regulation of the Minister of Finance Number 30 / PMK.010 / 2010 concerning Application of Know Your Customer Principles for Non-Bank Financial Institutions (LKNB).

The objective of this Regulation of the Minister of Finance is an effort to create a healthy non-bank financial industry that refers to international best practices and is protected from the possibility of being misused for financial crimes, including money laundering and financing of terrorism activities, both those carried out directly or indirectly by the perpetrator of the crime.

This Regulation of the Minister of Finance requires each LKNB to prepare an Implementation Guidelines for Know Your Customer Principles (P4MN).

The preparation of P4MN is intended as a guideline for all elements of management and staff of PT Asuransi Dayin Mitra Tbk (the Company) including the Company’s agents in implementing Know Your Customer Principles.

In this P4MN regulates several things as follows:

  1. Person in charge of implementing Know Your Customer Principles (PMN).
  2. Customer acceptance policies and procedures.
  3. Policies and procedures for identifying and verifying customers.
  4. Policies and procedures for monitoring accounts and execution of customer transactions.
  5. Risk management policies and procedures relating to the implementation of PMN.

The purpose of the P4MN preparation is to provide the Company with standard guidelines to be able to identify the profiles of its customers so that in turn the Company can identify any unusual transactions that could become Suspicious Transactions and Cash Transactions.

Based on the identification results, the Company submits a Suspicious Transaction Report (STR) and / or Cash Transaction Report (CTR) to the Financial Transaction Reports and Analysis Center (PPATK). In addition, P4MN is also intended for the Company to also submit reports on transfer of funds to and from abroad to PPATK.

Suspicious Financial Transactions, abbreviated as TKM, are:

  1. Financial transactions that deviate from the profile, characteristics, or pattern of transactions of the Customer concerned;
  2. Financial transactions that are reasonably suspected of being carried out with the aim of avoiding compulsory reporting by the Company;
  3. Financial transactions carried out or canceled by using assets suspected of originating from the proceeds of crime; or
  4. Financial transactions requested by PPATK to be reported because they involve assets suspected to be the proceeds of criminal acts.

Cash Financial Transactions, abbreviated as TKT, are transactions of withdrawals, deposits, or deposits made with cash or other payment instruments made through the Company.

Unreasonable Transactions are transactions including but not limited to unusual financial transactions in large quantities, transactions carried out by parties who do not have a clear economic relationship, transactions that are suspected of being used to commit illegal acts, and / or transactions that are not in accordance with the account activity pattern.

The company has a Know Your Customer Principles Implementation Guidelines (P4MN) which have been adjusted to the Minister of Finance Regulation Number 30 / PMK.010 / 2010 concerning Application of Know Your Customer Principles for Non-Bank Financial Institutions (LKNB).

The company is committed to implementing and implementing Know Your Customer Principles, one of them is during the acceptance process, which is by requiring any new business or policy extension where the customer has not filled out the Know Your Customer Principles (PMN) form, which must fill in the form and acceptors ensure that the P4MN Form has been filled completely and correctly by the customer.

The PMN or Customer Identity form is made based on business sources, for example through direct individual customers or customers with legal / institutional entities, customers from agents, customers from brokers, and customers from banks.

In 2015, the Company made adjustments to the Implementation Guidelines for the Application of Know Your Customer Principles (P4MN) regarding Categories of Use of Services that have the Potential to Commit Money Laundering, based on the Regulation of the Head of the Financial Transaction Reports and Analysis Center Number PER-02 / 1.02 / PPATK / 02/15 dated February 3, 2015, concerning the Category of Service Users with the Potential to Commit the Crime of Money Laundering.

Based on this regulation, the Company has adjusted the Implementation Guidelines for Know Your Customer Principles (P4MN) and reported the adjustment to the Financial Services Authority.

In 2015 the Financial Services Authority issued the Financial Services Authority Regulation Number 39 / POJK.05 / 2015 concerning the Implementation of Anti-Money Laundering and Counter-Terrorism Funding Programs by Financial Service Providers in the Non-Bank Financial Industry Sector which came into effect on 28 December 2015.

Anti Money Laundering (APU) and the Prevention of Terrorism Financing (PPT) are efforts to prevent and eradicate the crimes of Money Laundering and Terrorism Financing.

The Know Your Customer Principles Implementation Unit that has been established will be responsible for compiling and updating the guidelines for implementing the AML and CFT programs, ensuring that there is an adequate information system and customer identification procedures, including ensuring that forms relating to Customers have accommodated the data required in program implementation. APU and PPT.

The guidelines for implementing AML and CFT will be adjusted to the existing Know Your Customer Principles guidelines and will be reported to OJK in 2016.

Audit Work Scope:

Internal control is established after considering the control environment which includes the attitudes of management and employees to the importance of management control, namely management’s philosophy and operating style, organizational structure and overall staffing practices carried out together with adequate assessment of relevant risks and effective monitoring mechanisms. .

However, it should be realized that the existing internal controls can only provide adequate assurance and do not provide full assurance against material misstatement or loss.

The scope of the audit includes management functions, with coverage covering financial and non-financial fields.

Financial Audit:

  • More oriented to financial problems. The objective of a financial audit is the fairness of the financial statements presented by management.

  • At this time the internal audit orientation is more focused on the operational audit in the company. This is because the audit of the company’s financial statements has been carried out by the External Auditor during the annual general audit. General audits are carried out by the Public Accounting Firm (KAP).

Operational Audit:

  • The objective of an operational audit is an assessment of efficiency, effectiveness and economic problems. Audit results are not merely a matter of formal correctness, but to improve organizational performance.

Compliance / Compliance Audit:

  • Aims to test whether the implementation / activity is in accordance with the prevailing rules and regulations.

The regulations / provisions that are used as criteria in a compliance audit include:

  • Regulations / Laws stipulated by Government Agencies or other related Agencies / Agencies; and

  • Policies / Systems and Procedures established by company management (Directors).

Fraud audit:

Intended to reveal cases that indicate corruption, collusion and nepotism that have the potential to harm the company and benefit individuals or groups or third parties.

The structure or position of the internal audit work unit

Chairman: Budi Waluyo
Members: Woen Tay Cun
Member: Kadek Wisnu Bhuana
Member: Steven Wijaya

The Internal Audit Unit is the Company’s internal control unit that is under the President Director and consists of 4 personnel. The Internal Audit Unit is led by a Head of Internal Audit Unit. The Head of the Internal Audit Unit is responsible and reports to the President Director.

Independence of the Internal Auditor:

Reliable internal control is needed to ensure a clear separation of duties, lines of authority and related policies and procedures, including safeguarding Company assets.

The chairman and members of the Internal Audit work independently, namely:

  • Not direct or indirect shareholders.
  • Has no affiliation with members of the Board of Commissioners, members of the Board of Directors or major shareholders of the Company.
  • Has no business relationship, either directly or indirectly, related to the Company’s business activities.
  • Not a person who works or has the authority and responsibility to plan, lead, control, or supervise the Company’s activities within the last 6 (six) months.

Job Description of the Work Unit:

Duties and Responsibilities of the Internal Audit Unit:

  • Develop and implement an annual Internal Audit plan based on risk priorities in accordance with the Company’s objectives.
  • Test and evaluate the implementation of internal control and risk management systems in accordance with Company policy.
  • Examining and assessing the efficiency and effectiveness of finance, accounting, operations, human resources, marketing, information technology and other activities.

The inspection stages are carried out as follows:

Audit Assignment Preparation:
In this stage, it begins with the appointment of a team that will be involved in an assignment by Internal Audit. This is evidence that the audit was carried out on orders from the superior and not because of personal will.

Preliminary Audit Survey:
The process of obtaining an in-depth understanding of the risks of a department / branch that will be examined.
The preliminary survey includes the steps to analyze the risks that occur in a department / branch to be audited.
A preliminary survey is carried out to obtain and analyze information relevant to risk assessments efficiently and effectively.

Conducting Testing

After that the team determines the scope and extent of the audit to be tested.
At this stage the team looks for evidence that corroborates the information obtained in the preliminary survey.
Audit evidence can be preliminary evidence as legal evidence if it is found to be accurate, accurate and appropriate in connection with the audit findings or audit conclusions.

Completion of Audit Assignments:

  • This is the last stage of the fieldwork process. The team finalizes the findings summarized during the fieldwork process.

  • The team obtained sufficient confidence that the findings it summarized were carried out in accordance with procedures, objectively and independently.

  • When confirming the findings to the party being examined, the team has prepared various data needed to support the proposed findings along with the recommendations suggested to the parties being examined.

  • After that the team asked for answers in written form along with the ability to follow up on recommendations.

  • In the written response, it also states the limit for follow-up on the recommendation to be implemented as well as the responsible personnel.

  • At the final stage, the Team submits the main results of the examination to the Department / Branch that is being examined / representing.

  • The party being examined can find out the findings and recommendations resulting from the audit process. This is because the audit report will be very useful in the decision-making process in the future.

Reporting on Audit Results:

After completing the field testing, based on the Audit Working Paper documentation (from planning / preparation of the audit to the findings and recommendations that have received responses from the parties being examined), the Team Head and team members then compile a report on the audit results to be submitted to the President Director and Board of Commissioners.

Monitoring:

As a follow-up to monitoring, the analysis is carried out based on an agreement approved by the party being examined in relation to the implementation of the recommendations that have been given.

In collaboration with the Audit Committee:

  • Develop a program to evaluate the quality of internal audit activities that have been carried out.

  • Carry out special examinations when needed.

  • Number of employees in the internal audit work unit:

The Internal Audit Unit is the Company’s internal control unit which is domiciled under the President Director and consists of 3 people.

The Internal Audit Unit is led by a head of the Internal Audit Unit. The Head of the Internal Audit Unit is responsible and reports to the President Director.

The Head of the Internal Audit Unit has sufficient expertise in conducting internal audits. He actively participates in various trainings and seminars held by several insurance agencies and the Financial Services Authority (OJK).

In addition, he also participated in the socialization and discussion of the preparation of insurance regulations under the coordination of the Indonesian General Insurance Association (AAUI) and the Financial Services Authority (OJK).

Internal Audit works independently and objectively through examinations as well as suggestions and recommendations for improvements by making a report to the President Director.

Report on the results of the implementation of Internal Audit duties

The internal audit unit carries out its duties in examining branches, marketing offices and departments at the Company’s Head Office.

The report on the results of the implementation of the internal audit task is submitted to the President Director and then follow-up is carried out on recommendations and matters that need to be corrected.

Internal Audit Unit Charter

Internal Audit provides independent and objective assurance and consultation, with the aim of increasing the value and improving the company’s operations, through a systematic approach, by evaluating and improving the effectiveness of risk management, control and corporate governance processes.

The Company’s Internal Audit Unit Charter was made based on the Financial Services Authority Regulation Number 56 / POJK.04 / 2015 dated 19 December 2015 concerning the Formation and Guidelines for the Preparation of the Internal Audit Unit Charter and was ratified in the Decree of the Board of Directors number 065-2 / DIR / PD / VI / 2016 .

The Internal Audit Unit Charter which is used as a guideline for the Internal Audit Unit in carrying out its duties and functions, the Internal Audit Unit is a work unit within an Issuer or Public Company that carries out the Internal Audit function.

Matters contained in the Internal Audit Charter are:

  1. Purpose of Internal Audit
  2. Structure, Position and Accountability of the Internal Audit Unit
  3. Requirements for auditors who sit in the Internal Audit Unit
  4. Duties and Responsibilities of the Internal Audit Unit
  5. Authority of the Internal Audit Unit
  6. Internal Audit Unit Code of Ethics
  7. Prohibition of Multiple Duties and Positions
  8. Other

This Internal Audit Unit Charter is determined by the Board of Directors after obtaining approval from the Board of Commissioners and will be periodically evaluated for improvement.

The company already has a work unit or officer in charge of implementing the Anti Money Laundering Program (APU) and the Prevention of Terrorism Funding (PPT) which was formed based on POJK Number 39 / POJK.05 / 2015 concerning Implementation of the Anti Money Laundering and Prevention of Terrorism Funding Programs by Financial Service Providers In the Non-Bank Financial Industry Sector, the composition of members has been adjusted to the POJK Number 12 / POJK.01 / 2017 concerning the Implementation of the Anti Money Laundering and Prevention of Terrorism Funding Program in the Financial Services Sector. This work unit replaces the Know Your Customer Principles Unit (PMN) which was previously established.

With the issuance of POJK Number 12 / POJK.01 / 2017 which canceled POJK Number 39 / POJK.05 / 2015, the Company has also made changes to the APU and PPT Program Implementation Guidelines which are based on a risk-based approach as recommended by international standards The Financial Action Task Force (FATF) Recommendation.

Guidelines for the Implementation of the Anti Money Laundering (APU) and Prevention of Terrorism Financing (PPT) Programs include:

  1. Active supervision of the Board of Directors and the Board of Commissioners.
  2. Policies and procedures.
  3. Control inter
  4. Management information system.
  5. Human resources and training.

The company has appointed the person in charge for implementing the AML and CFT programs with the Decree of the Board of Directors number 066 / DIR / PD / V / 2019 dated May 7, 2019, namely:

Person in Charge: Dawidju Widjaja

The Anti Money Laundering (AML) and Terrorism Funding Prevention (PPT) Program is part of the Company’s overall risk management implementation. The AML and CFT Program implementation seeks to create a healthy company, which refers to international best practices. ) and protected / protected from possible abuse by the perpetrator of a criminal act in committing financial crimes, including Money Laundering and Terrorism Financing, whether carried out directly or indirectly.

ACTIVE SUPERVISION OF THE BOARD OF DIRECTORS AND BOARD OF COMMISSIONERS

The Board of Directors and the Board of Commissioners are responsible for actively supervising all implementation of the AML and CFT programs in accordance with applicable regulations and ensuring that the Company has and implements policies and procedures for implementing the AML and CFT programs.

PERSON IN CHARGE OF APU AND PPT PROGRAM IMPLEMENTATION

The person in charge for implementing the AML and CFT program is determined by the Board of Directors in the form of a Board of Directors Decree, namely through the establishment of a special work unit and / or the appointment of an official who is responsible for implementing the AML and CFT program which is adjusted to the conditions and developments of the Company.

The implementation of the AML and CFT programs at the Branch Offices is carried out by the Branch Heads under the coordination of the person in charge of implementing the AML and CFT programs at the Head Office.

The person in charge must have high integrity, ability, knowledge and sufficient experience according to his educational background, as well as being able to communicate well and have the authority to access all customer data and other related information.

DUTIES, RESPONSIBILITIES AND AUTHORITIES

Duties and responsibilities

  1. Periodically analyze the risk assessment of Money Laundering and / or Terrorism Funding related to its Customers, country or geographic area, products, services, transactions or distribution networks (delivery channels).
  2. Compile, update, and propose policies and procedures for implementing AML and CFT programs that have been prepared to manage and mitigate risks based on risk assessment, for consideration and approval of the Board of Directors.
  3. Ensure that there is a system that can identify, analyze, monitor and provide reports effectively on the characteristics of transactions carried out by customers.
  4. Ensure that the policies and procedures formulated are in accordance with changes and developments which include, among others, products, services and technology in the financial services sector, the Company’s business activities and complexity, the Company’s transaction volume, and the mode of Money Laundering and / or Terrorism Funding.
  5. Ensure that the forms relating to the customer have accommodated the data required in implementing the AML and CFT programs.
  6. Evaluating the results of monitoring and analysis of customer transactions to ensure whether or not there are Suspicious Financial Transactions, Cash Financial Transactions and / or financial transactions of fund transfers to and from abroad.
  7. Administering the results of monitoring and evaluation.
  8. Ensure updating of customer data and profiles as well as customer transaction data and profiles.
  9. Ensure that business activities with a high risk of Money Laundering and / or Terrorism Funding are identified effectively in accordance with Company policies and procedures as well as provisions as referred to in the OJK Regulations.
  10. Ensure that there is a good communication mechanism from each related work unit to the person in charge of implementing the AML and CFT programs by maintaining the confidentiality of information and paying attention to anti-tipping-off provisions.
  11. Supervise the implementation of the AML and CFT programs on related work units.
  12. Ensure the identification of high risk areas associated with the implementation of AML and CFT programs by referring to the provisions of laws and regulations and adequate sources of information.
  13. Receiving, analyzing, and preparing Suspicious Financial Transaction reports and / or financial transactions made in cash submitted by the work unit.
  14. Prepare reports on Suspicious Financial Transactions, Cash Financial Transactions, and / or financial transactions of fund transfers from and to abroad.
  15. Ensure that all activities in the context of implementing the AML and CFT programs are carried out properly.
  16. Monitor, analyze, and recommend training needs regarding the implementation of AML and CFT programs for officers and / or employees of the Company.

Authority

  1. Get access to the required information in all organizational units of the Company.
  2. To coordinate and monitor the implementation of AML and CFT programs by related work units.
  3. Propose officials and / or employees of related work units to assist in implementing the AML and CFT programs.
  4. Report Suspicious Financial Transactions, Cash Financial Transactions, and / or financial transactions of fund transfers from and to foreign countries conducted by the Board of Directors, the Board of Commissioners, and / or parties affiliated with the Board of Directors or the Board of Commissioners, directly to PPATK.

POLICIES AND PROCEDURES

Policies and procedures for implementing the AML and CFT programs include:

  1. Customer identification and verification.
  2. Beneficial Owner Identification and verification.
  3. Termination of business relationship or transaction rejection.
  4. Continuous management of the risk of Money Laundering and / or Terrorism Funding in relation to Customers, countries, products and services as well as distribution networks (delivery channels).
  5. Maintenance of accurate data relating to transactions, administering the CDD process, and administering policies and procedures.
  6. Updating and monitoring.
  7. Reporting to senior officials, the Board of Directors and the Board of Commissioners regarding the implementation of policies and procedures for implementing the AML and CFT programs.
  8. Reporting to PPATK and other agencies in accordance with applicable regulations.

Policies and procedures for implementing the AML and CFT programs must be applied consistently and continuously.

IMPLEMENTATION OF RISK-BASED APU AND PPT PROGRAMS (RISK-BASED APPROACH)

The implementation of risk-based APU and PPT programs (risk based approach) supports the Company in implementing identified risk prevention and mitigation measures commensurate with the risks of Money Laundering (TPPU) and Terrorism Financing (TPPT). The company can then allocate resources according to the risk profile faced by the Company, manage internal control, internal structure, and implement policies and procedures to prevent and detect Money Laundering and Terrorism Funding.

Companies must refer to and consider the risks of national concern listed in the NRA (National Risk Assessment) and SRA (Sectoral Risk Assessment) in implementing the risk-based AML and CFT program (Risk Based Approach). The implementation of the Company’s AML and CFT programs must be responsive to developments and changes in risks listed in the NRA and SRA.

In implementing a risk-based approach, the company must carry out 6 (six) steps as follows:

  1. Identify inherent risk.
  2. Establish risk tolerance
  3. Formulating risk reduction and control measures
  4. Evaluating the risk of risk (residual risk)
  5. Implementing a risk-based approach
  6. Review and evaluate existing risk-based approaches

INTERNAL CONTROL

The purpose of the internal control system is to ensure the effectiveness of the implementation of the AML and CFT programs by the Company. The internal control system consists of:

  1. The existence of adequate internal policies, procedures and monitoring.
  2. There are limits on the authority and responsibility of work units related to the implementation of the AML and CFT programs.
  3. An examination is carried out to ensure the effectiveness of the implementation of the AML and CFT programs by the internal audit work unit.

MANAGEMENT INFORMATION SYSTEM

A management information system is required to be able to identify, analyze, monitor, and provide reports effectively on the characteristics of transactions carried out by customers by using adjusted parameters on a regular basis and taking into account the complexity of the business, transaction volume, and the risks of the Company.

HUMAN RESOURCES AND TRAINING

This active role is carried out by the Human Capital Department (HCD) in the procedures for hiring employees and monitoring employee profiles:

  1. Carry out the recruitment procedure according to the applicable Operating Standards & Procedures.
  2. Monitor employee profiles at least once a year. Employee profile monitoring includes employee behavior and lifestyle.

The person in charge of implementing the AML and CFT programs coordinates with the Human Capital Department (HCD) in carrying out training programs for the implementation of the AML and CFT programs for all employees related to the implementation of the AML and CFT programs.

Appointment and Determination of the Audit Committee PT Asuransi Dayin Mitra Tbk     ______________ see details
Audit Committee Charter PT Asuransi Dayin Mitra Tbk                                           ______________ see details

Appointment and Determination of the Risk Monitoring Committee PT Asuransi Dayin Mitra Tbk ______________ see details
Risk Monitoring Committee Charter PT Asuransi Dayin Mitra Tbk                           ______________ see details

CORPORATE SECRETARY

Name and brief curriculum vitae

  • Name: Purnama Hadiwidjaja
  • Brief curriculum vitae: See the profile of the Board of Directors.

Training program in order to develop the competence of the Corporate Secretary:

• Attend seminars, workshops, or other similar activities.

• Attending courses, training, or similar educational programs.

Description of the implementation of the duties of the Corporate Secretary:

• The Corporate Secretary acts on behalf of the Board of Directors as a liaison officer and may be assigned by the Board of Directors to administer and keep all Company documents including but not limited to the list of shareholders and minutes of the Board of Directors’ meeting and General Meeting of Shareholders.

• The Corporate Secretary has access to material and relevant information relating to the Company and is familiar with the laws and regulations in the capital market, particularly those relating to transparency issues, and must ensure that information provided to stakeholders is timely and accurate.

• In addition, it also provides services to the public for any information needed by investors relating to the Company.

• The Corporate Secretary ensures that the Company complies with the regulations in the capital market and stock exchange as well as other regulations applicable in the insurance industry, especially general insurance as the main business of the Company.

• The Corporate Secretary is also obliged to provide information related to his duties to the Board of Directors periodically and to the Board of Commissioners based on needs.

Policies Regarding Supplier Selection and Creditors’ Rights        ______________ see details

Board of Directors and Board of Commissioners Work Guidelines

The company has members of the Board of Directors who manage and manage the Company with high ability and integrity and have members of the Board of Commissioners who supervise and provide advice to members of the Board of Directors in order to manage the Company properly.

In order to comply with the regulatory provisions of the Government and the Financial Services Authority (OJK) and the Company, the Company has prepared a Work Guidelines for the Board of Directors and the Board of Commissioners, which are stipulated and approved in the Decree of the Board of Directors.

This guideline is formulated as a reference in regulating the appointment, implementation of duties, authorities and responsibilities as well as dismissal / resignation of the Company Management.

This Board of Directors and Board of Commissioners Charter is adjusted to the line of business (General Insurance) and is applied to the Company without any contradiction from these regulations and follows whichever is more stringent.

Guidelines are made based on regulatory provisions from the Government and the Financial Services Authority (OJK) which are contained in:

  • UU no. 40 of 2014 dated 17 October 2014 concerning Insurance.
  • POJK No.2 / POJK.05 / 2014 dated 8 April 2014, as amended by POJK Number 73 / POJK.05 / 2016 dated 28 December 2016, and revised again with POJK Number 43 / POJK.05 / 2019 dated 31 December 2019 concerning Amendments to POJK Number 73 / POJK.05 / 2016 concerning Good Corporate Governance for Insurance Companies.
  • POJK No.4 / POJK.05 / 2013 dated 21 November 2013 concerning Capability and Compliance Assessment for the main parties in Insurance Companies, Pension Funds, Financing Companies, and Guarantee Companies, as amended by POJK Number 34 / POJK.03 / 2018 in effect on January 28, 2019 concerning Revaluation for Main Parties of Financial Services Institutions.
  • POJK No.32 / POJK.04 / 2014 dated 8 December 2014 concerning the Plan and Implementation of General Meeting of Shareholders of Public Companies and amended by POJK Number 10 / POJK.04 / 2017 concerning Amendments to POJK Number 32 / POJK.04 / 2014.
  • POJK No.33 / POJK.04 / 2014 dated 8 December 2014 concerning the Board of Directors and Board of Commissioners of Issuers or Public Companies.
  • Decision Statement of the Company’s Extraordinary General Meeting of Shareholders number 20 dated September 14, 2015 concerning Amendments to the Company’s Articles of Association to be adjusted to the provisions of POJK No.32 / POJK.04 / 2014 and POJK No.33 / POJK.04 / 2014.

The guidelines were prepared including:

  1. General / Preliminary Terms
  2. Terms and Conditions for Appointment of Company Management
  3. Duties, Responsibilities, Authorities, Working Time, and Dismissal / Resignation / Resignation of Management
  4. Meetings of the Board of Commissioners and Meetings of the Board of Directors
  5. Reporting
  6. Multiple Positions
  7. Cover

Code of Ethics

The code of conduct describes the Company’s values ​​and business ethics in conducting business so that it becomes a guide for the Company’s organs and all employees of the Company.

This guideline was made to comply with the provisions of POJK No.2 / POJK.05 / 2014 dated 8 April 2014, as amended by POJK Number 73 / POJK.05 / 2016 dated 28 December 2016, and amended again with POJK Number 43 / POJK. 05/2019 dated 31 December 2019 concerning Amendments to POJK Number 73 / POJK.05 / 2016 concerning Good Corporate Governance for Insurance Companies, article 74 states that Insurance Companies are required to make guidelines on ethical behavior, which contain business ethical values, as a guide for Organ Insurance Companies and all employees of Insurance Companies.

This guideline is made to comply with the provisions of the Financial Services Authority Regulation (POJK) No.33 / POJK.04 / 2014 Article 35 paragraph 1 (The Board of Directors and the Board of Commissioners are required to compile guidelines that bind each member of the Board of Directors and members of the Board of Commissioners), Article 36 paragraph 1 ( The Board of Directors and the Board of Commissioners must compile a code of ethics that applies to all members of the Board of Directors and members of the Board of Commissioners, employees / employees, as well as supporting organs owned by Issuers or Public Companies) and these guidelines are posted on the Company’s website.

The objectives of the Code of Business Conduct and Ethics are:

  • Uphold the importance of compliance and business ethics issues and provide guidance to help make better decisions.
  • Developing business ethical standards that are in line with the principles of GCG in order to create and maintain a positive work environment that supports ethical behaviors so as to encourage the creation of a Company culture, which will enhance the Company’s values.
  • Developing harmonious, synergic and mutually beneficial relationships between customers, agents, brokers, business partners, employees and other stakeholders based on the principles of business ethics.

The company establishes a Code of Business Conduct and Ethics policy that regulates the following behaviors:

  • General policy towards government
  • Policy for Company Organs
  • Policy for employees
  • Policy for customers / policyholders
  • Policy for business partners
  • Policy for fellow insurance and reinsurance companies
  • Competition and antitrust policy

Each member of the Board of Commissioners, the Board of Directors makes a statement that they have no conflict of interest in any decisions they make and have implemented the Code of Business Conduct and Ethics established by the Company.

The Code of Conduct and Business Ethics is socialized and must be understood by all Company employees with the aim of increasing awareness to all employees that this Code is an integral part of business practices and performance appraisals for all employees.

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