AAJI & IRSA Systematic Review Awards 2022


Life insurance plays an important role in fulfilling two prime motives of the consumers and their families (Beck & Webb, 2003). First, it reduces the financial risk in the consumer's family income stream due to the event of premature death of the primary wage earner in the family. Second, it helps the consumers to achieve long-term saving objectives, depending on their saving requirements under risk and uncertainty (Bhatia, 2021). Moreover, the life insurance sector development significantly influences a country's economic growth (Outreville, 2013). Along with providing a cover against mortality and health risk, life insurance also plays a vital role in mobilizing long-term investment (Arena, 2008; Zietz,2003). However, many developed countries that have made a significant contribution to the global economy still have low life insurance penetration. For instance, in 2020, the USA's contribution to the global economy was highest at 24% and life insurance penetration was only 3.0% (SWISS RE, 2021).

In Indonesia, life insurance has committed to supporting the national health insurance program (JKN) and strengthening household financial resilience programs, through payments on medical claims (around IDR 13 trillion) and death claims (around IDR 20 trillion) in 2021. In addition, the Indonesia life insurance industry also helps in maintaining capital market stability through investment placing in mutual fund and stock assets reaching IDR 306,5 trillion and supporting long-term national development programs through investment placing in government securities reaching IDR 123,03 trillion but still facing main challenges especially in increasing market competition. Despite its considerable potential, the position of the life insurance industry in Indonesia is still relatively behind compared to other countries. This can be seen from the penetration rate (proportion of premium income to GDP) and density (premium income divided by population) of Indonesia life insurance in 2020, which were only 1.2 percent and USD 54 per capita.

About Systematic Review Award 2022

The AAJI and IRSA Systematic Review Award (SRA) is a new initiative by the Indonesia Life Insurance Association (AAJI) in collaboration with Indonesian Regional Science Association (IRSA). The Systematic Review award is given to the two best systematic review proposals submitted to the committees from AAJI and IRSA. We welcome systematic reviews proposal from Indonesian and overseas researchers within the theme “Determinant of Life Insurance Development in Developing Countries Context and Its implication on Indonesia”, which will cover the following topics but not limited to:

  1. Development of world-class life insurance products and services by prioritizing customer centricity, customer protection, and digital experience
  2. Life insurance industry and macroeconomic environment
  3. Support from the government & regulators in encouraging and maintaining industrial growth & stability
  4. Improvement of the operational excellence of the life insurance industry through strengthening governance and risk management
  5. Reinforcement of capital and investment portfolio
  6. Accelerating digital transformation and managing human capital in Life Insurance industry
  7. Determinants of life insurance penetration
  8. Life insurance demand and customer preferences


The amount for funding that may be awarded to two successful applicants is USD 5.000, with project duration no longer than 3 months

Documents to Submit

All of registration and proposal submission process must be submited online, through https://s.id/AAJI-IRSA2022   

  1. Proposal abstract: background, objectives and methods in english no more than 500 words.
  2. Full Proposal: written in line with the PRISMA Statement, in english and no more than 15 pages. For details, please visit: https://pubmed.ncbi.nlm.nih.gov/21603045/
  3. Study Team: a team consisting 1-3 people. (CV to be attached)

Important Dates

Registration & Proposal Submission: July 20th - September 20th, 2022

Announcement of Shortlisted Proposals: September 30th, 2022

Announcement of Selected Proposals: October 15th, 2022


Further information and communication

Any queries regarding the application form or process should be directed to

  1. Mr. Indra Maulana (+62 813-2834-6341)
  2. Mrs. Riska Asri Pertiwi (+62 856-4257-1421)

or via e-mail to research & data analysis department, AAJI Secretariat: research@aaji.or.id