scholarly journals ANALISIS KOMPETENSI AGEN ASURANSI KASUS BUMI PUTERA SYARIAH PALEMBANG

2018 ◽  
Vol 3 (1) ◽  
pp. 71-90
Author(s):  
Sahirrudin Sahirrudin ◽  
Maya Panorama ◽  
Listiawati Listiawati
Keyword(s):  
Human Resources ◽  
Life Insurance ◽  
Government Agency ◽  
Employment Relationship ◽  
Insurance Companies ◽  
Insurance Company ◽  
Policy Holder ◽  
Islamic Insurance ◽  
The City ◽  
A Company

The success of a company needs employees who are competent, experienced and strong. Islamic insurance companies certainly require employees who have knowledge about insurance in accordance with Islamic sharia principles. In the case of the Islamic insurance company Bumi Putera Palembang in 2015 to 2016 there are 40 insurance policyholders who worked in a government agency to terminate the employment relationship between the insurance and policyholders. This is because there is no transparency related to monthly installment payments that should be proven by a deposit or proof of receipt of payment in full by the field agent to the policy holder. This is not in line with the principles of Islamic insurance, namely avoiding the elements of gharar, maysir and usury. Islam emphasizes aspects of justice, likes and likes and togetherness faces risks in every effort and investment pioneered. This aspect is the concept offer to replace gharar, maysir and riba that have been happening in conventional institutions. The focus of research is on the competency of agents (wakalah) in the sharia Islamic Bumi Putera insurance company in the city of Palembang. The result is obtained from the conclusions of six indicators and evidenced by the table of productive reports of agents related to product marketing that human resources in agents /wakalah Bumi Putera Syariah Life Insurance have not described competency and professionalism. This can be seen from the lack of insurance products sold, attitudes to field issues and the achievement of the target customers determined by the company.

scholarly journals Analisis Kompetensi Agen Asuransi Kasus Bumi Putera Syariah Palembang

2018 ◽  
Vol 3 (2) ◽  
Author(s):  
Sahirrudin Sahirrudin ◽  
Maya Panorama ◽  
Listiawati Listiawati
Keyword(s):  
Human Resources ◽  
Life Insurance ◽  
Government Agency ◽  
Insurance Companies ◽  
Insurance Company ◽  
Insurance Agent ◽  
Policy Holder ◽  
Islamic Insurance ◽  
The City ◽  
A Company

The success of a company needs employees who are competent, experienced and strong. Islamic insurance companies certainly require employees who have knowledge about insurance in accordance with Islamic sharia principles. In the case of the Islamic insurance company Bumi Putera Palembang in 2015 to 2016 there are 40 insurance policyholders who worked in a government agency to terminate the employment relationship between the insurance and policyholders. This is because there is no transparency related to monthly installment payments that should be proven by a deposit or proof of receipt of payment in full by the field agent to the policy holder. This is not in line with the principles of Islamic insurance, namely avoiding the elements of gharar, maysir and usury. Islam emphasizes aspects of justice, likes and likes and togetherness faces risks in every effort and investment pioneered. This aspect is the concept offer to replace gharar, maysir and riba that have been happening in conventional institutions. The focus of research is on the competency of agents (wakalah) in the sharia Islamic Bumi Putera insurance company in the city of Palembang. The result is obtained from the conclusions of six indicators and evidenced by the table of productive reports of agents related to product marketing that human resources in agents /wakalah Bumi Putera Syariah Life Insurance have not described competency and professionalism. This can be seen from the lack of insurance products sold, attitudes to field issues and the achievement of the target customers determined by the company. Keywords: Insurance Agent Competency, Bumi Putera Syariah

scholarly journals HUBUNGAN ANTARA LEMBAGA KEUANGAN SYARIAH DI INDONESIA PERIODE 2014-2018

2020 ◽  
Vol 7 (2) ◽  
pp. 345
Author(s):  
Maulidah Atha Mukhlifah ◽  
Sylva Alif Rusmita
Keyword(s):  
Financial Institutions ◽  
Life Insurance ◽  
Capital Market ◽  
Insurance Companies ◽  
Islamic Banking ◽  
Insurance Company ◽  
Process Data ◽  
Islamic Financial Institutions ◽  
Islamic Insurance ◽  
The Relationship

This study is to determine the relationship between Islamic financial institutions, both bank and non-bank financial institutions in Indonesia in the 2014-2018 period. This study uses the VAR method to process data. The results of this study are contributions from Islamic-based financial institutions in Indonesia. The Islamic capital market has a positive relationship with Islamic life insurance. This happens because, in developing countries like Indonesia, life insurance is more influential than Islamic general insurance. The relationship that occurs in the Islamic capital market and life insurance occurs because of the role of the insurance company that will buy shares in the Islamic capital market. Then, related to a negative relationship between Islamic banking and Islamic insurance. It is because every credit given by the bank will be charged for insurance. The greater the value of the credit, the higher the contribution paid. This will be considered by those who will take credit at the bank. Meanwhile, insurance companies themselves are not bound by two other financial institutions. This happens because insurance companies get capital from third parties or their customers.Keywords: Islamic Financial Institutions, Islamic Capital Markets, Islamic Banking, Islamic Insurance, VAR

scholarly journals Pengaruh PSAK 108, Produk Unit Linked terhadap Asumsi Going Concern Perusahaan Asuransi Syariah di Indonesia

2021 ◽  
Vol 7 (2) ◽  
Author(s):  
Nano Suyatna
Keyword(s):  
Life Insurance ◽  
Quantitative Research ◽  
Good Governance ◽  
Positive Influence ◽  
Insurance Companies ◽  
Insurance Company ◽  
Quantitative Research Methods ◽  
Customer Expectations ◽  
The Right ◽  
Islamic Insurance

It is recommended that tomorrow's risk is anticipated in Islam, the applicant can use Sharia Life Insurance. The problem is the emergence of insurance companies that fail to pay, so that customer expectations are lost. This study aims to provide input in choosing the right insurance company and add insight for those interested in insurance. The research method used is descriptive quantitative research methods. The results showed that: a. the positive influence between the application of PSAK 108 and the survival of sharia insurance companies partially, b. the positive influence between unit-linked products and the viability of sharia insurance companies partially, c. the positive influence between the application of PSAK 108 and unit-linked products with the survival of the Islamic insurance company together. The viability of sharia insurance companies will survive, if the consistent implementation of article 108 and sharia unit-linked products that are safe from the influence of the JCI in investing, and use good governance. The fact is from the data that there are companies that have large liquid assets that still survive, but there are also insurance companies with low capital that remain strong (high risk high return) in maintaining the going concen assumption.

Suicide Clause in Various Life Policies in India

IJOHMN ◽  
2017 ◽  
Vol 1 (1) ◽  
pp. 1-14
Author(s):  
Mr. Afroz Khan
Keyword(s):  
Life Insurance ◽  
The Self ◽  
Insurance Companies ◽  
Insurance Company ◽  
Insurance Policy ◽  
Law And Policy ◽  
State Of Mind ◽  
Insured Person ◽  
Indian Law ◽  
Policy Holder

Life insurance policy is a contract between the policy holder (assured) and the insurer (insurance company), where the insurer promises to pay a designated beneficiary a sum of money (a “premium”) upon the death of the insured person. In return, the policy holder agrees to pay a stipulated amount (at regular intervals or in lump sums). In nutshell, life policies are legal contracts and the terms of the contract describe the limitations of the insured events. Specific exclusions are often written into the contract to limit the liability of the insurer; common examples are claims relating to suicide, fraud, war, riot and civil commotion. Suicide means a wilful and intentional act on the part of the self-destroyer. It includes every act of self-destruction. Policies of life insurance contain conditions by which the liability of the insurer is modified and limited in case of suicide by the assured. Where there is such a clause in a policy, the insurer can avoid the policy. The position in England and in India is different on this issue. In England suicide is a crime and hence no money is payable if a person commits suicide while in a sane state of mind. On the other hand if the assured was insane at the time of committing suicide, the sum due can be recovered by his legal representatives. Under the Indian law, suicide in itself is not an offence, and as such a policy cannot be avoided on the ground of suicide, unless the policy otherwise provides. Suicide will, however, not affect the rights of assignee, if the policy holder had assigned the policy for valuable consideration. The burden of proving suicide is upon the insurers and where the cause of death is not known, the presumption is against suicide and the policy cannot be avoided. This same is followed in India. According to this approach, the claim would be barred on a contractual level because the assured cannot be the author of his own loss, and on a broader level, because the law will not allow him to benefit from his own criminal acts. This paper examines the development of law and policy in relation to claims on life insurance policy where the assured or insured has committed suicide after the commencement of the policy and the effect of suicide clause in life insurance contract. Is that the present practice of insurance companies to insert suicide clause in life policies, indirectly promotes commercial suicide in cases of intentional suicides.

Life Office Solvency and Insolvency.

1978 ◽  
Vol 22 ◽  
pp. 1-44
Author(s):  
D. G. R. Ferguson
Keyword(s):  
Life Insurance ◽  
High Order ◽  
Insurance Companies ◽  
Insurance Company ◽  
Life Insurance Company ◽  
The Law ◽  
A Company

It is quite impracticable to devise an equitable mode of winding-up an insolvent life insurance company (5).A company being found to be insolvent, what is to be done with it ?… The actuaries have unanimously recommended a reduction of the sums assured, the same premiums being paid, but the lawyers have agreed that this is impracticable … The actuaries are able to take a much higher view; they need not consider what is the law, but what is most consistent with real and substantial justice to all parties. In fact, we may sum it up by saying that the courts of this country are not courts of justice but courts of law (4).[In relation to a method of treating insolvent life insurance companies as a closed fund] Its simplicity, and the entire absence of opportunity for the kind of deception and fraud usually committed by those who manipulate the assets of insolvent companies, are its most striking merits, and are certainly merits of a high order (1).

Hr Practices And Hr Policies At Icici Prudential Life Insurance Company Ltd

Think India ◽  
2019 ◽  
Vol 22 (3) ◽  
pp. 348-354
Author(s):  
T. Krishna Veni ◽  
G. Kalyani
Keyword(s):  
Human Resources ◽  
Life Insurance ◽  
Insurance Company ◽  
Life Insurance Company ◽  
Hr Practices ◽  
Commercial Center

The job of Human Resources is changing as quick as innovation and the worldwide commercial center. Generally, the HR Department was seen as organization, kept individual documents and different records, dealt with the enlisting procedure, and gave other authoritative help to the business. Those circumstances are different. The positive consequence of these progressions is that HR experts have the chance to assume a progressively vital job in the business. The test for HR chiefs is to stay up with the latest with the most recent HR developments—mechanical, lawful, and something else.

Indian Life Insurance Market and Corporate Performances: A Study of Selected Firms

2016 ◽  
Vol 4 (1) ◽  
Author(s):  
Joy Chakraborty ◽  
Partha Pratim Sengupta
Keyword(s):  
Market Share ◽  
Life Insurance ◽  
Market Concentration ◽  
Insurance Market ◽  
Insurance Companies ◽  
Insurance Company ◽  
Life Insurance Company ◽  
Insurance Sector ◽  
Life Insurers ◽  
Company Limited

In the pre-reform era, Life Insurance Corporation of India (LICI) dominated the Indian life insurance market with a market share close to 100 percent. But the situation drastically changed since the enactment of the IRDA Act in 1999. At the end of the FY 2012-13, the market share of LICI stood at around 73 percent with the number of players having risen to 24 in the countrys life insurance sector. One of the reasons for such a decline in the market share of LICI during the post-reform period could be attributed to the increasing competition prevailing in the countrys life insurance sector. At the same time, the liberalization of the life insurance sector for private participation has eventually raised issues about ensuring sound financial performance and solvency of the life insurance companies besides protection of the interest of policyholders. The present study is an attempt to evaluate and compare the financial performances, solvency, and the market concentration of the four leading life insurers in India namely the Life Insurance Corporation of India (LICI), ICICI Prudential Life Insurance Company Limited (ICICI PruLife), HDFC Standard Life Insurance Company Limited (HDFC Standard), and SBI Life Insurance Company Limited (SBI Life), over a span of five successive FYs 2008-09 to 2012-13. In this regard, the CARAMELS model has been used to evaluate the performances of the selected life insurers, based on the Financial Soundness Indicators (FSIs) as published by IMF. In addition to this, the Solvency and the Market Concentration Analyses were also presented for the selected life insurers for the given period. The present study revealed the preexisting dominance of LICI even after 15 years since the privatization of the countrys life insurance sector.

Eksistensi Fatwa No.21/DSN-MUI/X/2001 Pada Asuransi Jiwa Syariah di PT. Prudential Life Assurance Cabang Ponorogo

2021 ◽  
Vol 1 (1) ◽  
pp. 61-73
Author(s):  
Linda Pertiwi ◽  
Atik Abidah
Keyword(s):  
Data Collection ◽  
Qualitative Methods ◽  
Life Insurance ◽  
Field Research ◽  
Insurance Company ◽  
Life Insurance Company ◽  
Life Assurance ◽  
Deductive Method ◽  
Investment System ◽  
Islamic Insurance

This article aims to review the implementation of Fatwa No. 21 / DSN-MUI / X / 2001 concerning General Guidelines for Sharia Insurance in Insurance Institutions. Sharia life insurance is a type of life insurance whose application is based on the provisions of Islam. PT. Prudential Life Assurance is a sharia life insurance company. In carrying out its activities to develop customer funds, PT. Prudential Life Assurance invests. In practice, the investment and insurance percentage determination is carried out unilaterally by the agent. Determining the percentage of this investment will affect customers' cash value claims that do not match the illustration. More specifically, in this connection, the author will analyze two aspects. First, the analysis of Fatwa No.21 / DSN-MUI / X / 2001 regarding the General Guidelines for Islamic Insurance on the implementation of the investment system at PT. Prudential Life Assurance Ponorogo Branch? Second, the analysis of Fatwa No.21 / DSN-MUI / X / 2001 regarding the General Guidelines for Islamic Insurance on the payment of cash value claims for customers at PT. Prudential Life Assurance Ponorogo Branch? The author's type of research is field research using qualitative methods, while the data collection techniques used are interviews and documentation. The analysis used uses the deductive method, namely a discussion that begins with presenting arguments, theories or provisions that are general and then put forward a specific fact. From this research, it can be concluded that the implementation of the investment system at PT. Prudential Life Assurance at the Ponorogo branch is only limited to administration. Where the agent determines the percentage of insurance and investment unilaterally to get a hefty fee, this is not following the DSN fatwa No.21 / DSN-MUI / X / 2001, which reads "investment must be made under sharia." Meanwhile, regarding the payment of cash value claims from customers that do not match the illustration, it follows the DSN fatwa No.21 / DSN-MUI / X / 2001, which reads "different claims in the amount according to the premium paid."Artikel ini bertujuan untuk mengkaji implementasi Fatwa No. 21/DSN-MUI/X/2001 tentang Pedoman Umum Asuransi Syariah Pada Lembaga Perasuransian. Asuransi jiwa syariah adalah jenis asuransi jiwa yang penerapannya berdasarkan ketentuan Islam. PT. Prudential Life Assurance adalah perusahaan asuransi jiwa syariah. Dalam menjalankan kegiatannya untuk mengembangkan dana nasabah, PT. Prudential Life Assurance berinvestasi. Dalam praktiknya, penentuan persentase investasi dan asuransi dilakukan secara sepihak oleh agen. Penetapan persentase investasi ini akan mempengaruhi klaim nilai tunai nasabah yang tidak sesuai dengan ilustrasi. Lebih khusus lagi, dalam hubungan ini, penulis akan menganalisis dua aspek. Pertama, analisis Fatwa No.21/DSN-MUI/X/2001 tentang Pedoman Umum Asuransi Syariah Tentang Penerapan Sistem Investasi Pada PT. Prudential Life Assurance Cabang Ponorogo? Kedua, Analisis Fatwa No.21/DSN-MUI/X/2001 tentang Pedoman Umum Asuransi Syariah Tentang Pembayaran Klaim Nilai Tunai Bagi Nasabah Pada PT. Prudential Life Assurance Cabang Ponorogo? Jenis penelitian penulis adalah penelitian lapangan dengan menggunakan metode kualitatif, sedangkan teknik pengumpulan data yang digunakan adalah wawancara dan dokumentasi. Analisis yang digunakan menggunakan metode deduktif, yaitu pembahasan yang diawali dengan mengemukakan argumentasi, teori atau ketentuan yang bersifat umum kemudian dikemukakan suatu fakta yang spesifik. Dari penelitian ini dapat disimpulkan bahwa penerapan sistem investasi pada PT. Prudential Life Assurance di cabang Ponorogo hanya sebatas administrasi. Dimana agen menentukan persentase asuransi dan investasi secara sepihak untuk mendapatkan fee yang besar, hal ini tidak sesuai dengan fatwa DSN No.21/DSN-MUI/X/2001 yang berbunyi “investasi harus dilakukan secara syariah”. Sedangkan mengenai pembayaran klaim nilai tunai dari nasabah yang tidak sesuai dengan ilustrasi, mengikuti fatwa DSN No.21/DSN-MUI/X/2001 yang berbunyi “beda klaim besarnya sesuai dengan premi yang dibayarkan”.

The Pioneer in American Life Insurance Marketing

1938 ◽  
Vol 12 (5) ◽  
pp. 65-75
Author(s):  
J. Owen Stalson
Keyword(s):  
United States ◽  
Eighteenth Century ◽  
North America ◽  
Life Insurance ◽  
General Public ◽  
Colonial America ◽  
The United States ◽  
Insurance Companies ◽  
Insurance Company ◽  
Fire Insurance

Colonial America gave little thought to life insurance selling. The colonists secured protection against marine risks from private underwriters, first in London, eventually at home. It has been asserted that Philadelphia had no fire insurance until 1752; Boston none before 1795. The first corporations formed in this country for insuring lives were those of the Presbyterian Ministers Fund (1759) and a similar company organized for the benefit of Episcopal ministers (1769). Neither of these corporations offered insurance to the general public. In the last decade of the eighteenth century many insurance companies were formed in the United States. At least five were chartered to underwrite life risks, but only one, The Insurance Company of North America, appears to have accepted any. There is no basis for saying that any of these early companies tried to sell life insurance.

scholarly journals AN EXPLORATORY RESEARCH STUDY OF MARKETING STRATEGIES OF IDBI FEDERAL INSURANCE CO. LTD

2021 ◽  
pp. 478-483
Author(s):  
Himanshi Goyal ◽  
Dr. Navneet Joshi ◽  
Sanjive Saxena
Keyword(s):  
Life Insurance ◽  
Coming Out ◽  
Research Study ◽  
Research Work ◽  
Marketing Strategies ◽  
Insurance Companies ◽  
Primary Data ◽  
Exploratory Research ◽  
Insurance Company ◽  
Insurance Cover

This paper is covers the exploratory research study on the marketing strategies of IDBI Federal Insurance, Company. In the Indian context, Insurance companies are playing a major role in the development of Indian economy. With the entry of many private players in the insurance industry, the competition has risen manifold and hence insurance companies are coming out with innovative marketing strategies to woo the customer. This was the reason for narrowing down the scope of the research work. The present paper is an exploratory research study on the marketing strategy of IDBI Federal Insurance Company. The paper seeks to address the following objectives (a) To determine the marketing strategies of IDBI Federal Life Insurance Co. Ltd (b) To determine the means and mechanism deployed by IDBI Federal Life Insurance Co. Ltd. Applying the marketing mix and to determine the effectiveness of the strategy and (c) to understand the reasons which provide competitive advantage to IDBI Federal Life Insurance Co. Ltd. The paper is developed on the basis of elementary primary and secondary data available in the Internet and other documents and journals. The design of the paper follows a structured approach. The literature review resulted in the generation of the research objectives. The primary data was collected by means of Google Forms and MS Excel was used for data analysis. Descriptive Statistics is used to arrive at the findings and interpretation. The findings indicate that the majority of the people seek insurance cover for the purpose of having risk cover and availing several benefits associated with the life insurance policies. Further, the findings indicate that there is a need to capitalize social media platform for generating awareness to drive the market growth. KEY WORDS: IDBI, Insurance, Marketing, Policies, Strategies

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