Institut Teknologi Bandung

The winning team comprises three actuary students from ITB’s 2020 batch: Ferdinand Laurencius Yonathan, Regina Elena Gunawan, and Felicia Priskilla, along with Sendy, an actuary student from Unpad’s 2020 batch. Together, they successfully addressed the challenge statement, “How do we reorganize the experience of using insurance to fulfill the needs of the next generation user?”

“The overarching theme is to change the community’s perspective on insurance, especially among Gen Z (the generation born between 1997-2012). Our proposed insurance product covers a combination of mental health and the security of Instagram accounts, resembling a business plan,” explained Regina.

Based on their research data, 42% of Gen Z individuals are diagnosed with mental health issues and approximately 500 Instagram accounts are hacked daily which are deemed critical for attention. “We perceive that social media is integrated into the lives of young generations today, which is why we opted for social media insurance,” added Felicia.

The offered insurance will be digitally sold, not conventionally through agent channels. The public can easily purchase it without the need to fill in the complicated forms. The market will leverage social media, which is an inseparable aspect of Gen Z.

Ferdinand highlighted that prior to the competition, the team conducted extensive research and produced a well-founded output covering user experience, business viability, data, facts, product introduction, required funds, and expected results. This comprehensive approach set the team to stand out apart from the 18 participating teams.

Infinite Innovators also meticulously prepared a finished deck and presentation, ensuring it was precisely on target, interactive, and adhered to the allocated time of 5 minutes.

“The competition was organized by a company which requires the consideration of all stakeholders' policies. The evaluation criteria included determining whether the proposed product or method is innovative and a viable solution, assessing the company’s capability to design and market the proposed product, aligning with the relevant business sector. The competition is suitable for beginners, although the jury’s expectations are high given its national scale. However, the jury exhibited openness to various innovative ideas presented but make sure to highlight the importance of delivering an evocative and persuasive presentation both verbally and in writing.” said Ferdinand as a key strategy to the team’s success 

Reporter: Maharani Rachmawati Purnomo (Oceanography, 2020)

Translator: Sherina Wijaya (Geological Engineering, 2019)

Editor: Anggi Nurdiani (Manajemen, 2021)