OJK Launches Voluntary Credit Insurance Program To Strengthen P2P Lending Ecosystem

Jakarta – In a strategic move to bolster the stability and credibility of Indonesia's rapidly growing digital finance sector, the Financial Services Authority (OJK) has officially launched a credit insurance support program for Technology-Enabled Joint Funding Services, commonly known as Peer-to-Peer (P2P) lending or Pinjaman Daring (Pindar). The initiative, unveiled at a ceremony on Tuesday, December 16, 2025, is designed to act as a risk mitigation tool for lenders and enhance overall trust in the ecosystem.

Kepala Eksekutif Pengawas Perasuransian, Penjaminan, dan Dana Pensiun OJK, Ogi Prastomiyono, emphasized that while the program is not mandatory, it is expected to become a critical alternative for protecting lenders who channel funds through Pindar platforms. "The presence of insurance is hoped to increase public confidence and encourage the growth of a healthy, integral, and sustainable Pindar industry," Ogi stated in his address. This program forms a key part of the *Roadmap for the Development and Strengthening of Technology-Enabled Joint Funding Services 2023-2028*.

Recognizing the inherently higher risk profile of P2P lending, OJK officials underscored that the program's success hinges on prudent management and strict regulatory adherence. Key regulatory aspects for the insurance products include imposing premiums on the party facing the risk, implementing risk-sharing provisions, using reliable information systems, conducting comprehensive risk assessments, and ensuring accurate claims analysis.

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A critical operational detail mandated by the OJK is that the insurance premium must be incorporated into the Pindar platform's economic benefit cost structure, with a policy tenure of approximately twelve months. Furthermore, Ogi Prastomiyono clarified that any increase in the insurance premium can only be implemented at the time of policy renewal, not during an active coverage period.

The rollout will be phased, initially targeting institutional lenders before expanding to include retail participants. Agusman, Kepala Eksekutif Pengawas Lembaga Pembiayaan and other financial entities at OJK, highlighted the program's importance for the industry's long-term viability. "With this insurance, the Pindar industry is expected to grow well and hopefully resolve various issues we still face," Agusman explained during the same event.

The initiative has received a measured welcome from the insurance industry. Budi Herawan, Chairman of the Indonesian General Insurance Association (AAUI), acknowledged it as an important first step that opens a new, measurable market segment for insurers. He noted that several general insurance companies have already formed a consortium to participate in this new scheme, though development must be gradual and prudent to align with industry capacity and risk profiles.

By introducing this voluntary layer of financial protection, the OJK aims to strike a balance between encouraging innovation in alternative financing for non-bankable communities and ensuring responsible risk management. The program represents a significant step in the maturation of Indonesia's fintech landscape, aiming to integrate traditional financial safeguards with modern digital lending practices.

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Credit Insurance Financial Regulation Fintech Indonesia OJK P2P Lending Risk Mitigation Voluntary Program