Indonesia has a huge Muslim population that has long attracted many insurance firms to develop their own sharia products, including the local arm of French multinational insurer PT AXA Financial Indonesia (AFI).

Despite the large population, awareness of sharia insurance products among Muslims is still very low as many still think that insurance goes against sharia principles. To raise the awareness, AFI president director Niharika Yadav said the firm actively offered financial literacy programs to the public.