Unit-Linked Customer Dispute: Financial Services Authority (OJK) Efforts to Mediate

Chairman of the Board of Commissioners of the Financial Services Authority (OJK) Wimboh Santoso revealed that disputes between customers and financial service providers are common in this industry.

However, the disputes that surfaced did not reflect the picture of the problems in the financial services sector as a whole. That's usually because there is a dispute between the customer and financial services, which is normal. But we manage it well, we sit together so that there is a solution," said Wimboh at a press conference at the 2022 Financial Services Industry Annual Meeting. If the mediation does not reach a common ground, settlement through the Financial Services Sector Alternative Dispute Resolution Institution (LAPS SJK) can be the next option. When mediation efforts through LAPS do not reach an agreement, he continued, disputed cases can be brought to court. However, he stressed that the complaints voiced by a number of people did not necessarily reflect that the whole industry was bad. Recently, there have been complaints from a group of customers who claim to feel disadvantaged by the practice of misselling unit link insurance products from three insurance companies, namely PT Prudential Life Assurance (Prudential Indonesia), PT AXA Mandiri Financial Services (AXA Mandiri), and PT AIA Financial (AIA).

|•SOURCE•| Articles :BISNIS | Image :BISNIS |

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