Elderly Insurance Policyholders' Perspectives on Insurance Company Investment Decisions: A Case Study of ABC Insurance Company

This study examines the perspectives of elderly insurance policyholders regarding investment decision-making and internal control practices at PT ABC, an insurance company operating in Indonesia’s general insurance sector. As the elderly population continues to increase—projected to reach 33.7 million in 2025—health protection and financial stability become essential considerations. This study aims to explore how insurance companies manage investment portfolios prudently to ensure business sustainability and customer protection, particularly for elderly clients with limited income and high healthcare needs. Using a qualitative case study approach, data were collected through observation, in-depth interviews, and literature review. The findings reveal that elderly policyholders emphasize the importance of strong internal control mechanisms to prevent investment misuse and ensure the continuity of claim payments. PT ABC has implemented a conservative investment strategy by diversifying low-risk financial instruments, such as government securities and time deposits, in compliance with OJK Regulation No. 71/POJK.05/2016. This approach strengthens financial stability and enhances customer trust. The study concludes that sound internal control and prudent investment governance are crucial in maintaining the legitimacy and long-term sustainability of insurance companies. However, due to its single- case focus, generalization is limited. Future studies are encouraged to include broader samples and cross-country comparisons.