Analisis Efisiensi Asuransi Umum Syariah di Indonesia Tahun 2013-2015: Aplikasi Metode Data Envelopment Analysis (DEA)

This study aims to anlyze and comparing the efficiency of Islamic Life Insurance and Conventional Life Insurance in Indonesia. This study uses a quantitative non-parametric approach with Data Envelopment Analysis (DEA) with the assumption of Constant Return to Scale (CRS) and Variable Return to Scale (VRS) with input and output orientation. The samples are 3 Islamic Life Insurance (full fledge) and 3 Conventional Life Insurance that comply with the specified sample criteria during 2012-2019. The input variables used ared cost of commissive, operational cost, total equity, while the output variables is the premi income, and investment revenue. The results of the study indicate that the average result of DEA analysis for the entire DMU (Decision Making Unit) has not been efficient. In Conventional Life Insurance, the value of economic efficiency by 64,82 percent, technically efficiency for72,22 percent, and scale efficiency 81,4 percent, while in Islamic Life Insurance, the value of economic efficiency by 17,26 percent, technically efficiency for 53,71 persen, and scale efficiency 47,41 percent. Source of inefficiency Conventional and Islamic Life Insurance company is the sacle of operations and management of input to output is not optimal.

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Pengukuran Efisiensi Asuransi Syariah Dengan Data Envelopment Analysis (DEA)

JURNAL AKUNTANSI DAN KEUANGAN ISLAM ◽

10.35836/jakis.v4i1.27 ◽

2019 ◽

Vol 4 (1) ◽

pp. 1-23

Author(s):

Hulwah Tuffahati ◽

Sepky Mardian ◽

Edy Suprapto

Keyword(s):

Data Envelopment Analysis ◽

Life Insurance ◽

Insurance Companies ◽

Data Envelopment ◽

General Insurance ◽

Input Variables ◽

Optimal Efficiency ◽

Using Data ◽

The Cost ◽

Islamic Insurance

This research is aimed to measure the efficiency of Islamic Insurance Companies in Indonesia by using Data Envelopment Analysis (DEA). The sample used in this research are the Islamic Insurance Companies that publishes their full financial statements from the years 2012-2014. The variables in this study consists of two kinds of variables, namely input variables and output variables. The variable input is the total assets and the cost of commissions. While the variable output is the gross contribution and investment income. This study uses the intermediation approach with input orientation and use three types of measurements are the measurement of the efficiency of technical efficiency, pure technical and scale. The results of this study are in the groups of Islamic General Insurance Companies and Islamic Life Insurance Companies there are no company that achieve optimal efficiency levels in the three types of measurements.Whereas in the group Syariah General Insurance Unit are 2 companies optimally efficient in 3 measurements or by 28.57% of the total companies sampled in this group. And the group Syariah Life Insurance Unit are 4 companies optimally efficient in 3 measurements or 25% of total companies sampled in this group.

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Measuring Efficiency of Life Insurance Instution in Indonesia: Data Envelopment Analysis Approach

Global Review of Islamic Economics and Business ◽

10.14421/grieb.2017.051-02 ◽

2017 ◽

Vol 5 (1) ◽

pp. 012

Author(s):

Aam S. Rusydiana ◽

Taufiq Nugroho

Keyword(s):

Data Envelopment Analysis ◽

Life Insurance ◽

Insurance Industry ◽

Insurance Companies ◽

Data Envelopment ◽

Insurance Company ◽

Life Insurance Company ◽

Life Insurance Industry ◽

Measuring Efficiency ◽

Input Variables

This study aims to measure the level of efficiency of the life insurance industry in Indonesia. The calculation of the efficiency level in this study is relative, not absolute. The approach used is Data Envelopment Analysis (DEA). There are 8 research objects: Prudential, BNI Life, PaninDai-IchiLife, Asuransi Jiwasraya and Life Insurance Adisaranan Wanaartha, Takaful Takaful Insurance, Amanahjiwa Giri sharia insurance and Al-Amin sharia life insurance. This study consists of three input variables (cost of Commissive (X1), Operational Cost (X2), Total Equity (X3) and 2 output variables (Premium) (Y1) and Investment Revenue (Y2)). The results explain that there are 15 perfectly efficient DMUs (100%). And an inefficient of 24 DMU, consisting of 7 DMU conditions IRS and 17 DMU with DRS conditions. Of all the DMU observed, Prudential insurance is a life insurance company that is able to maintain its gradual efficiency level from 2013 to 2016 when compared to other life insurance in this observation. In general, the main factor inefficiency of life insurance industry in Indonesia (in observation) from 2012 to 2016 is from the output side. To be more efficient then life insurance companies should increase the value of premiums by 91% and investment income of 8%.

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Measuring the Efficiency of Turkish SMEs: A Data Envelopment Analysis Approach

International Journal of Economics and Finance ◽

10.5539/ijef.v8n6p190 ◽

2016 ◽

Vol 8 (6) ◽

pp. 190 ◽

Cited By ~ 3

Author(s):

Arzum Buyukkeklik ◽

Harun Dumlu ◽

Samet Evci

Keyword(s):

Data Envelopment Analysis ◽

Scale Efficiency ◽

Total Efficiency ◽

Data Envelopment ◽

Equity Structure ◽

Important Place ◽

Sales Revenue ◽

Decision Making Unit ◽

Net Profit ◽

Input Variables

<p>Small and medium-sized enterprises (SMEs) that are undertaking significant roles in the development of the economy of Turkey and in the increase of the production and employment encounter with many problems. Financial problems take an important place among them. The resources that could be used by SMEs in meeting the financing needs to be limited require the efficient use of these resources. In this study, the resource activities of SMEs have been studied with Data Envelopment Analysis (DEA). In analysis short-term liabilities, long-term liabilities and equity values of the enterprises that are quoted continuously on SME Industrial Index within 2011-2014 have been used as input variables; and the sales revenue and net profit values have been used as output variables. The total efficiency values of each decision making unit have been attained with the use of CCR model according to the years, technical efficiency values of them have been attained with the use of BCC model and the scale efficiency values of them have been attained by comparing these values to each other. As a result, it has been determined that those providing resource efficiency are only a few among the enterprises that are proceeded in the BIST SME Industrial Index; and these enterprises could reach their existent sales revenue and net profit numbers with less resources. In this respect it has been revealed that the SMEs that have problems in providing credit and not having strong equity structure are not able to make use of their own resources efficiently.</p>

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Efficiency Institution Baitul Maal Tamwill in The Westdistrict Bandung

Review of Islamic Economics and Finance ◽

10.17509/rief.v1i1.23743 ◽

2020 ◽

Vol 1 (1) ◽

pp. 18-24

Author(s):

Annisa Nur Hakim ◽

A Jajang W Mahri ◽

Aas Nurasyiah

Keyword(s):

Data Envelopment Analysis ◽

Research Method ◽

Secondary Data ◽

Data Envelopment ◽

Analysis Technique ◽

Dea Analysis ◽

Input Variables ◽

Operational Activities ◽

A Company ◽

Descriptive Method

Abstract. Baitul Maal Wat Tamwil has experienced development in recent years. However, based on BMT performance data in West Bandung regency is less optimal. It is known that there are one efficient BMTs in West Bandung Regency and three BMTs that are inefficient. The cause of BMT's less optimal performance is inefficiency in operational activities. This study aims to determine the level of efficiency of BMT in West Bandung 2011-2017 period and find out the causes of inefficiency. This study uses secondary data from four BMTs in West Bandung District which are sampled. The research method used is descriptive method with Data Envelopment Analysis (DEA) analysis technique which is to measure the level of efficiency of a company. Input variables used are operating expenses, total assets, and TPF. Furthermore, the output variables used are SHU, income, and financing. Based on the results of research conducted, the conditions of the BMT in West Bandung Regency have not been perfectly efficient. There are three BMTs that have experienced inefficiencies including BMT Dana Ukhuwah, BMT Mustama, and BMT Rabbani. Keywords. Efficiency, Baitul Maal Wat Tamwil, Data Envelopment Analysis

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A COMPARATIVE STUDY OF CONVENTIONAL AND SHARIAH LIFE INSURANCE EFFICIENCY USING DATA ENVELOPMENT ANALYSIS

Journal of Islamic Economics and Finance ◽

10.22373/share.v9i0.7595 ◽

2020 ◽

Vol 9 ◽

Author(s):

Mulia Saputra ◽

Muhammad Arfan ◽

Neni Zahara

Keyword(s):

Data Envelopment Analysis ◽

Life Insurance ◽

Value Added ◽

Sampling Technique ◽

Insurance Companies ◽

Data Envelopment ◽

Insurance Company ◽

Life Insurance Company ◽

Purposive Sampling ◽

Test Input

This study aims to analyze and compare the efficiency between conventional life insurance companies and Islamic life insurance companies in Indonesia over the period of 2014-2018. The sample of this study was taken from 10 conventional life insurance companies and 10 shariah life insurance companies that were selected based on the purposive sampling technique. Measurement of efficiency in this study was conducted using the method of data envelopment analysis (DEA) based on Bankers-Charnes-Cooper (BCC) and Charnes-Cooper-Rhodes (CCR) models of the value-added approach. This was followed by testing the hypothesis using a different Mann-Whitney U-test. Input variables used are assets, capital, general and administrative costs, and commission expenses. Meanwhile, the output variables are premiums and investment income. The results showed that conventional life insurance companies are more efficient than Islamic life insurance companies based on the BCC and CCR models. Furthermore, the results of different tests using the Mann-Whitney U-test showed an insignificant difference in efficiency between conventional life insurance companies and Islamic life insurance companies during the study period. The results of the comparison of the average efficiency value with the DEA method indicated that the efficiency level of a conventional life insurance company was better than a shariah life insurance company.========================================================================================================Studi Perbandingan Efisiensi antara Asuransi Jiwa Konvensional dengan Syariah Menggunakan Data Envelopment Analysis. Penelitian ini bertujuan untuk menganalisis perbandingan efisiensi perusahaan asuransi jiwa konvensional dengan perusahaan asuransi jiwa syariah di indonesia pada periode 2014-2018. Sampel penelitian ini adalah 10 perusahaan asuransi jiwa konvensional dan 10 perusahaan asuransi jiwa syariah yang dipilih berdasarkan teknik purposive sampling. Pengukuran efisiensi dalam penelitian ini menggunakan metode data envelopment analysis (DEA) dengan model BCC dan CCR berdasarkan pendekatan nilai tambah. dilanjutkan dengan melakukan uji hipotesis menggunakan uji beda mann-whitney u-test. Variabel input yang digunakan adalah aset. modal. biaya administrasi dan umum. dan beban komisi. Sedangkan variabel outputnya adalah premi dan pendapatan investasi. Hasil penelitian menunjukkan bahwa perusahaan asuransi jiwa konvensional lebih efisien dibandingkan perusahaan asuransi jiwa syariah berdasarkan pengukuran dengan model BCC maupun model CCR. Selanjutnya hasil uji beda menggunakan uji mann-whitney u- test menunjukkan bahwa tidak terdapat perbedaan efisiensi yang signifikan antara perusahaan asuransi jiwa konvensional dan perusahaan asuransi jiwa syariah selama periode penelitian ini. Hasil perbandingan nilai efisiensi rata-rata dengan metode DEA menunjukkan bahwa tingkat efisiensi perusahaan asuransi jiwa konvensional lebih baik daripada perusahaan asuransi jiwa syariah.

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A COMPARATIVE STUDY OF CONVENTIONAL AND SHARIAH LIFE INSURANCE EFFICIENCY USING DATA ENVELOPMENT ANALYSIS

Journal of Islamic Economics and Finance ◽

10.22373/share.v9i2.7595 ◽

2020 ◽

Vol 9 (2) ◽

pp. 110

Author(s):

Mulia Saputra ◽

Muhammad Arfan ◽

Neni Zahara

Keyword(s):

Data Envelopment Analysis ◽

Life Insurance ◽

Value Added ◽

Sampling Technique ◽

Insurance Companies ◽

Data Envelopment ◽

Insurance Company ◽

Life Insurance Company ◽

Purposive Sampling ◽

Test Input

This study aims to analyze and compare the efficiency between conventional life insurance companies and Islamic life insurance companies in Indonesia over the period of 2014-2018. The sample of this study was taken from 10 conventional life insurance companies and 10 shariah life insurance companies that were selected based on the purposive sampling technique. Measurement of efficiency in this study was conducted using the method of data envelopment analysis (DEA) based on Bankers-Charnes-Cooper (BCC) and Charnes-Cooper-Rhodes (CCR) models of the value-added approach. This was followed by testing the hypothesis using a different Mann-Whitney U-test. Input variables used are assets, capital, general and administrative costs, and commission expenses. Meanwhile, the output variables are premiums and investment income. The results showed that conventional life insurance companies are more efficient than Islamic life insurance companies based on the BCC and CCR models. Furthermore, the results of different tests using the Mann-Whitney U-test showed an insignificant difference in efficiency between conventional life insurance companies and Islamic life insurance companies during the study period. The results of the comparison of the average efficiency value with the DEA method indicated that the efficiency level of a conventional life insurance company was better than a shariah life insurance company.========================================================================================================Studi Perbandingan Efisiensi antara Asuransi Jiwa Konvensional dengan Syariah Menggunakan Data Envelopment Analysis. Penelitian ini bertujuan untuk menganalisis perbandingan efisiensi perusahaan asuransi jiwa konvensional dengan perusahaan asuransi jiwa syariah di indonesia pada periode 2014-2018. Sampel penelitian ini adalah 10 perusahaan asuransi jiwa konvensional dan 10 perusahaan asuransi jiwa syariah yang dipilih berdasarkan teknik purposive sampling. Pengukuran efisiensi dalam penelitian ini menggunakan metode data envelopment analysis (DEA) dengan model BCC dan CCR berdasarkan pendekatan nilai tambah. dilanjutkan dengan melakukan uji hipotesis menggunakan uji beda mann-whitney u-test. Variabel input yang digunakan adalah aset. modal. biaya administrasi dan umum. dan beban komisi. Sedangkan variabel outputnya adalah premi dan pendapatan investasi. Hasil penelitian menunjukkan bahwa perusahaan asuransi jiwa konvensional lebih efisien dibandingkan perusahaan asuransi jiwa syariah berdasarkan pengukuran dengan model BCC maupun model CCR. Selanjutnya hasil uji beda menggunakan uji mann-whitney u- test menunjukkan bahwa tidak terdapat perbedaan efisiensi yang signifikan antara perusahaan asuransi jiwa konvensional dan perusahaan asuransi jiwa syariah selama periode penelitian ini. Hasil perbandingan nilai efisiensi rata-rata dengan metode DEA menunjukkan bahwa tingkat efisiensi perusahaan asuransi jiwa konvensional lebih baik daripada perusahaan asuransi jiwa syariah.

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Performance of Malaysian Insurance Companies Using Data Envelopment Analysis

Indonesian Journal of Electrical Engineering and Computer Science ◽

10.11591/ijeecs.v11.i3.pp1147-1151 ◽

2018 ◽

Vol 11 (3) ◽

pp. 1147 ◽

Cited By ~ 2

Author(s):

Ng Jia Bao ◽

Rohaizan Ramlan ◽

Fazeeda Mohamad ◽

Azlina Md Yassin

Keyword(s):

Data Envelopment Analysis ◽

Insurance Industry ◽

Secondary Data ◽

Efficiency Score ◽

Equity Capital ◽

Insurance Companies ◽

Data Envelopment ◽

Insurance Company ◽

Policy Makers ◽

Using Data

The purpose of this study is to evaluate the performance of the local insurance in Malaysia for the period 2014-2015. The major challenge in the insurance industry is increasing competition in this market. Besides that, problematic in performance measurement to evaluate performance is another challenge in insurance industry. 24 local insurance companies involved in this study using quantitative method of Data Envelopment Analysis (DEA) output-orientation CCR model. This study utilizes three inputs and three outputs; operating expenses, equity capital and commission as well as net premium, net investment income, and net incurred claim. The secondary data sources were derived from official data of local insurance companies’ annual report respectively. The DEA-Solver-LV version 8 tools were used to analyze the data that have been collected to evaluate the performance of local insurance company. This DEA model allows integration of the performance for the insurance companies and provides management overall performance evaluation. The results showed that there are 8 efficient companies in 2014 and 9 efficient companies in 2015. The average efficiency score in 2014 was increased from 78.9% to 79.1% in 2015. The findings from this study will benefit the insurance associations in Malaysia, management of insurances companies and policy makers.

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Two-Stage Data Envelopment Analysis Efficiency of Indian General Insurance Companies

Global Business Review ◽

10.1177/09721509211047645 ◽

2021 ◽

pp. 097215092110476

Author(s):

Ram Pratap Sinha

Keyword(s):

Data Envelopment Analysis ◽

Asset Management ◽

Evaluation Model ◽

Insurance Companies ◽

Data Envelopment ◽

Efficiency Evaluation ◽

Two Stage ◽

Network Dea ◽

Second Stage ◽

General Insurance

The present study compares efficiency-related performance of 15 Indian general insurance companies using a two-stage efficiency evaluation model. Efficiency evaluation has been made for the span 2009–2010 to 2017–2018 using network DEA (data envelopment analysis). The results indicate that the in-sample private sector general insurance companies outcompeted the public sector insurers with regard to first-stage activity (premium mobilization), while the reverse was observed in terms of the second-stage activity (asset management and provision of claim benefits). The study also carried out regression of efficiency scores on several contextual variables. The results indicate that ownership is an influential contextual variable in both stages of productivity while solvency significantly impacts efficiency in the second stage.

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Comprehensive and Technical Efficiency of Insurance and Takaful Companies in Pakistan

COMSATS Journal of Islamic Finance ◽

10.26652/cjif.5202021 ◽

2020 ◽

Vol 5 (2) ◽

pp. 1-28

Author(s):

Adnan Malik ◽

◽

Zahoor Khan ◽

Sami Ullah Khan ◽

Malik Muhammad ◽

...

Keyword(s):

Data Envelopment Analysis ◽

Technical Efficiency ◽

Malmquist Index ◽

Labor Cost ◽

Insurance Companies ◽

Scale Efficiency ◽

Data Envelopment ◽

Output Factors ◽

The Difference ◽

A Company

Comprehensive and Technical Efficiency of Insurance and Takaful Companies in Pakistan Insurance and Takaful companies, both, are business organizations existing for the motive of profit. Large capital is required by the shareholders to establish a company; therefore, the company is expected to earn sufficient profit to meet the expectations of the shareholders. Moreover, a company also has its responsibilities towards its customers in terms of quality service. Shareholders are more concerned with their profit and customers regarding the services. Companies pay claims when the covered persons suffer a loss which can be the death of the family’s only bread earner, factory on fire, theft of business goods etc. Therefore, efficient financial performance of insurance and Takaful companies is important to fulfil the requirements of both: shareholders and clients. This study investigates financial efficiency of insurance and Takaful companies via Data Envelopment Analysis during the period 2011 to 2015. We have taken six general (non - life ) insurance & Takaful companies operating in Pakistan with input factors labor cost, assets and output factors premium / contribution received and percentage of claims paid. Results show that insurance and takaful companies are more than 80% efficient in their operations. For further increasing their efficiencies, they need to reduce their input by less than 20% to have same level of output. Comparing efficiencies of insurance and takaful companies, insurance companies are more efficient in terms of pure technical & super efficiency while takaful companies have higher scale efficiency than insurance companies, though the difference in most of the cases is less than 2%. Both types of companies need to improve their efficiencies by decreasing their assets input and labor cost while retaining the same output level of premiums and claims. Keywords: General insurance, Data Envelopment Analysis (DEA); Malmquist index, Takaful, Scale and technical efficiency

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