Lippo General Insurance CEO Benjamin Agus becomes an ANZIIF Fellow

Benjamin Agus, CEO of Lippo General Insurance (LGI) since 2011, has spent more than twenty-five years shaping Indonesia’s general insurance landscape.

With a background that combines engineering precision and business acumen, he has built a career defined by curiosity, persistence and a deep commitment to developing people.

Having recently received his ANZIIF Fellowship, Agus sees the honour not as a reward for past achievements but as a support for the leadership journey still ahead.

“I prefer the word support rather than influence,” he says. “Insurance is an evolving science and continuous learning keeps us ready for a dynamic industry landscape.”

Fighting spirit

From his earliest years in Bandung, Agus drew inspiration from his parents and the surrounding community where resilience and grit were part of daily life.

“I grew up in a humble environment where a fighting spirit was prevalent,” he recalls. “Those circumstances shaped my personality and strengthened my creativity, which has been part of my DNA since childhood.”

Fascinated by technical concepts, he pursued engineering while simultaneously studying management, determined from a young age to become “a leader in a technical area with superb soft skills to foster problem-solving attitudes and getting things done".

Adversity shapes a new pathway

His entry into insurance came at a moment of national upheaval. After starting out in the building materials industry, the 1998 financial crisis halted infrastructure projects and forced Agus to rethink his career path.

Insurance offered stability and intellectual challenge. “I heard about an opportunity as a trainee and took it,” he says. 

"After completing the program, I became a branch manager at a joint venture life insurer. That opened the door to a career as an insurance executive.”

This mixture of technical depth and people-focused leadership now defines his vision for LGI. Under his guidance, the company has built what he describes as “triple-core strengths in financials, market positioning and technical capabilities", a combination he believes will underpin long-term competitive advantage.

People focus driving the future

But for Agus, organisational culture is equally critical.

“LGI has a distinctive working atmosphere shaped by the professional interactions of its people,” he says. “People drive the future and people lead the change.”

Digital transformation has been an important part of that future. LGI is widely recognised for its innovation, much of which Agus attributes to clarity of purpose and mindset management.

“Innovation keeps an organisation relevant,” he explains. “At LGI we follow four stages: automation, digital customer platforms, machine learning and now AI to resolve customer pain points.”

He says the universal language to drive change in the insurance industry is future values. The clearer those values are, the better the support.

Innovation vs financials

Balancing innovation with financial resilience remains one of his central leadership challenges.

Agus believes sound risk management requires not only analytical clarity but also judgement. “Customer-centric innovation sometimes moves in the opposite direction from financial metrics,” he says.

“From my perspective, momentum matters. Managing the right momentum is crucial. It is all about the right timing.”

Following LGI’s integration with Hanwha Life, Agus has guided the organisation through a period of rapid alignment with global standards. He notes that any challenges were part of the natural adaptation curve.

“LGI had been preparing to become a world-class insurance company long before Hanwha Financial acquired it,” he says. “Now the organisation is running well, and we expect to achieve all-time highs in the top and bottom lines in 2025, with hopes to repeat these achievements at least three times over the next five years.”

Honoured as a leader

Named one of Indonesia’s most innovative CEOs, Agus grounds his leadership philosophy in authenticity and courage.

“I try to say what I mean and mean what I say,” he reflects. “It is not easy to lead at the front line of the battle, but doing so engages the team with guts and fire in the belly.”

That philosophy extends to his views on technology. He considers AI and big data transformative tools for underwriting, claims and customer experience.

“AI and big data separate raw information into structured, effective insights,” he says. “With more advanced information, our estimates become more accurate.

“With efficient data processing, LGI is ready to make major shifts in underwriting and claims. A seamless customer experience is no longer just a hope.”

A significant milestone

Becoming an ANZIIF Fellow marks a significant milestone in his career, one he views as a commitment to advancing Indonesia’s insurance capability.

“LGI is recognised as a market leader, but more than that I am proud of LGI as a source of qualified insurance professionals,” he says.

He adds a line that captures his thinking as both a leader and mentor: “Capability is achieved when capacity meets qualification.”

For Agus, working in insurance has never been simply a profession. It is a calling grounded in service and responsibility.

“Working is progressive self-development, but it is also a calling to make an impact on others’ lives,” he says.

His passion for knowledge sharing, his investment in talent development and his belief in purposeful leadership have helped shape LGI for more than a decade.

And as the organisation moves into its next era, those values remain his compass.

Join the leadership community. Become an ANZIIF Fellow.