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

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.

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

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.

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

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%.

scholarly journals Faktor-Faktor Yang Mempengaruhi Kontribusi Peserta Pada Perusahaan Asuransi Jiwa Syariah di Indonesia

2017 ◽  
Vol 4 (10) ◽  
pp. 802
Author(s):  
Risma Kartika Mulya Wardhani ◽  
Dina Fitrisia Septiarini
Keyword(s):  
Life Insurance ◽  
Positive Impact ◽  
Sampling Technique ◽  
Fixed Effect Model ◽  
Insurance Companies ◽  
Insurance Company ◽  
Life Insurance Company ◽  
Expected Return ◽  
Effect Model ◽  
Investment Returns

The aims of this study is to determine the effect of operating costs, investment and claims partially and simultaneously against the contribution to the shariah life insurance companies in Indonesia during 2013-2015. This study uses quantitative approach. The sampling technique is purposive sampling and there were 19 shariah life insurance company as subjects. The technique used is regression analysis using fixed effect model (FEM) panel data. The results study indicate that the operating expenses, investment returns and claims partially and simultaneously are significant and have positive impact on the contribution to the KP equation=67051.80+0,578102BO+2,605768HI+1,427397KLM. The results illustrate that the number of contributions have important influence in the operations of the companies. The amount of contributions received is expected to cover the costs incurred for the company's operations, they can be invested so as to achieve the company's expected return, and to pay claims.

scholarly journals ANALISIS EFISIENSI ASURANSI JIWA SYARIAH DI INDONESIA DAN TAKAFUL FAMILY DI MALAYSIA DENGAN METODE DATA ENVELOPMENT ANALYSIS (STUDI KASUS PADA KOPERASI JASA KEUANGAN SYARIAH AL ABRAR)

2020 ◽  
Vol 7 (2) ◽  
pp. 319
Author(s):  
Muhammad Iqbal Rifqi Ardianto ◽  
Puji Sucia Sukmaningrum
Keyword(s):  
Data Envelopment Analysis ◽  
Life Insurance ◽  
Value Added ◽  
Development Trend ◽  
Insurance Companies ◽  
Data Envelopment ◽  
Selection Of Variables ◽  
Total Investment ◽  
Total Profit ◽  
Input Variables

This study aims to determine the level of efficiency of Sharia life insurance in Indonesia and Malaysia during the 2015-2018 period. The sample used was 12 Sharia life insurance companies in Indonesia and 5 Sharia life insurance companies in Malaysia. The method used in this research is Data Envelopment Analysis (DEA) with the assumption of Variable Return to Scale (VRS) with input-orientation. The selection of variables uses a value-added approach with its input variables, namely capital, total expenses, and total investment as well as its output variables, namely total profit and total investment income. The results of this study indicate that the average overall value of sharia life insurance efficiency in Indonesia is relatively lower than the average efficiency of sharia life insurance in Malaysia. The development trend of the efficiency of Sharia life insurance in Indonesia and Malaysia tends to decrease during 2015-2018. Meanwhile, the cause of inefficiency in Sharia life insurance in Indonesia and Malaysia is the total expenses variable. Keywords: Efficiency, Sharia Life Insurance, DEA

scholarly journals Analisis Pengaruh Rasio Early Warning System Terhadap Financial Solvency Pada Perusahaan Asuransi Jiwa Syariah Di Indonesia

2018 ◽  
Vol 8 (1) ◽  
pp. 12-23
Author(s):  
Kris Ulfan ◽  
Sutriswanto Sutriswanto ◽  
Gaguk Apriyanto
Keyword(s):  
Life Insurance ◽  
Early Warning ◽  
Early Warning System ◽  
Linear Regression Analysis ◽  
Warning System ◽  
Sampling Technique ◽  
Insurance Companies ◽  
Insurance Company ◽  
Life Insurance Company ◽  
Growth Ratio

This study aims to examine the influence of the Early Warning System ratio which consist of surplus change ratio, claim load ratio, cost management ratio, liquidity ratio and premium growth ratio to financial solvency of sharia life insurance company in Indonesia period 2012 - 2016. The data used are secondary data obtained from the website of Asosiasi Asuransi Syariah Indonesia ( AASI ). Sampling technique used in this research is purposive sampling. The sample used in this research is 10 sharia life insurance companies . Hypothesis testing by using multiple linear regression analysis. The results of this study prove that financial solvency at the sharia fairyde 2012 - 2016, with an average value of 507.68% with a minimum financial solvency of 126.83 % and a maximum value of 2447.50 %. The variables that affect the financial solvency in this period of research are the ratio of claims expense and liquidity ratio which shows the negative and significant influence. Surplus change ratios, management expense ratios, the ratio of premium growth proved to be no significant effect on financial solvency . The ratio of Early Warning System in this study proved to have an effect on the financial solvency at the predictive ability level of 25.5% as shown in the adjusted R square value. Other variables not found in this research have influence to financial solvency equal to 74,5%.

scholarly journals DETERMINAN PERTUMBUHAN ASET PERUSAHAAN ASURANSI JIWA SYARIAH DI INDONESIA PERIODE 2013-2018

2020 ◽  
Vol 7 (5) ◽  
pp. 955
Author(s):  
Sulistio Purwaningrum ◽  
Dian Filianti
Keyword(s):  
Life Insurance ◽  
Financial Services ◽  
Secondary Data ◽  
Sampling Technique ◽  
Insurance Companies ◽  
Insurance Company ◽  
Life Insurance Company ◽  
Investment Returns ◽  
Negative Effect ◽  
Asset Growth

This study aims to examine and determine the determinants of asset growth in Sharia Life Insurance Companies in the 2013-2018 period. This study uses a quantitative approach with the data used are secondary data from the financial statement panel data of each Sharia Life insurance company. The independent variables used in this study are Participant Contributions, Investment Returns, Operating Expenses, and Claims. The dependent variable is the growth of Sharia Life Insurance Company Assets in Indonesia for the period 2013-2018.  The population in this study amounted to 30 Sharia life insurance companies registered with the Financial Services Authority. The sampling technique in this study was purposive sampling with 11 companies selected as samples. . The results of this study indicate that partially the participant contributions and claims variables have a significant negative effect. Investment returns and operating expenses have a significant positive effect on the growth of sharia life insurance company assets. Simultaneously participant contributions variables, investment returns, operating expenses, and claims show a significant influence on the growth of sharia life insurance company assets. Keywords: Participant Contributions, investment returns, operating expenses, claims, asset growth

scholarly journals PERBANDINGAN EFISIENSI PADA INDUSTRI ASURANSI JIWA SYARIAH DAN KONVENSIONAL DENGAN DATA ENVELOPMENT ANALYSIS (DEA)

2021 ◽  
Vol 4 (4) ◽  
pp. 503-521
Author(s):  
Foza Hadyu Hasanatina ◽  
Risanda Alirastra Budiantoro ◽  
Vicky Oktavia
Keyword(s):  
Data Envelopment Analysis ◽  
Economic Efficiency ◽  
Life Insurance ◽  
Scale Efficiency ◽  
Data Envelopment ◽  
Insurance Company ◽  
Life Insurance Company ◽  
Decision Making Unit ◽  
Dea Analysis ◽  
Input Variables

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.

scholarly journals ANALISIS PERBANDINGAN EFISIENSI PERUSAHAAN ASURANSI JIWA KONVENSIONAL DAN PERUSAHAAN ASURANSI JIWA SYARIAH DI INDONESIA DENGAN METODE DATA ENVELOPMENT ANALYSIS (DEA)

2020 ◽  
Vol 5 (2) ◽  
pp. 229-238
Author(s):  
Neni Zahara ◽  
Mulia Saputra
Keyword(s):  
Data Envelopment Analysis ◽  
Life Insurance ◽  
Value Added ◽  
Secondary Data ◽  
Insurance Companies ◽  
Data Envelopment ◽  
Administrative Costs ◽  
Descriptive Research ◽  
Input Variables ◽  
Quantitative Descriptive

The purpose of this study is to measure the efficiency of conventional and sharia life insurance companies in indonesia during the period 2012-2016 and to find out whether there are differences in efficiency between conventional and sharia life insurance companies. This research is a quantitative descriptive research using secondary data sourced from the company's annual financial statements. The samples used were 10 conventional life insurance companies and 10 sharia life insurance companies. Efficiency measurement in this study uses the Data Envelopment Analysis (DEA) method based on CCR model with an value-added approach. The input variables used are assets, capital, general and administrative costs, and commission expenses. While the output variable is premium and investment income. The results of this study indicate that conventional life insurance companies have a better level of efficiency than sharia life insurance companies, but there is no significant efficiency difference between conventional life insurance companies and sharia life insurance companies during the 2012-2016 period.

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