The Indonesian Insurance Marketplace – Lesson 1

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The Indonesian Insurance Marketplace

#1 the Market

Market is a regular gathering of people for the purchase and sale of provisions, livestock and other commodities #ehnclass

Market is an area or arena in whih commercial dealings are conducted #ehnsharing

Marketplace is an open space where a market is or was formerly held in a town #ehnsharing

Marketplace is the arena of competitive or commercial dealings the world trade #ehnsharing

In simple words, market is a place where the buyers meet the sellers #ehnsharing

Traditionally, the market was phisycally located in the middle of the town or near public area #ehnsharing

In Islamic (Arabic) world, market was always located nearby to the mosque #ehnsharing

In insurance, the oldest market was known as Lloyd’s of London #ehnsharing

Historically, Lloyd’s turned from a café shop into a largest insurance market in the world #ehnsharing

In Indonesia, the structure of insurance market divided into three major categories #ehnsharing

There are (1) The Buyers, (2) the Intermediaries and (3) the insurance Sellers #ehnsharing

~ to be continue ~

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