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All Journal I-Finance Journal Jurnal Ekonomi dan Bisnis Islam al-Afkar, Journal For Islamic Studies Jurnal Istiqro' MALIA NISBAH: JURNAL PERBANKAN SYARIAH OIKOS: Jurnal Kajian Pendidikan Ekonomi dan Ilmu Ekonomi Jurnal Tabarru': Islamic Banking and Finance Iqtishodia: Jurnal Ekonomi Syariah Journal of Islamic Economics and Finance Studies Indonesian Journal of Business Analytics (IJBA) Al-Kharaj: Jurnal Ekonomi, Keuangan & Bisnis Syariah El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam Journal of Ekonomics, Finance, and Management Studies
Khusnudin
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Religion Agriculture, Biological Sciences & Forestry Humanities Civil Engineering, Building, Construction & Architecture Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Industrial & Manufacturing Engineering Law, Crime, Criminology & Criminal Justice Social Sciences Other

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Journal : Indonesian Journal of Business Analytics (IJBA)

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Comparative Analysis of the Efficiency of Sharia and Conventional Life Insurance Industries in Indonesia Jannara Dewaji; Khusnudin
Indonesian Journal of Business Analytics Vol. 5 No. 2 (2025): April 2025
Publisher : PT FORMOSA CENDEKIA GLOBAL

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55927/ijba.v5i2.14244

Abstract

This study compares the efficiency of sharia and conventional life insurance in Indonesia using data envelopment analysis (DEA). Annual financial data from 24 sharia life insurance companies and 17 conventional life insurance companies for the period 2019–2023 were analyzed using the CRS, VRS, and SE approaches using MAX DEA 8 and Microsoft Excel. The results showed that based on the CRS and SE methods, 14 sharia life insurance companies and 6 conventional life insurance companies were efficient for five consecutive years. Meanwhile, based on the VRS method, there were 15 sharia life insurance companies and 9 conventional life insurance companies that were efficient in the same period. The main factors causing inefficiency are liabilities and operational expenses. This study emphasizes the importance of efficiency analysis in the life insurance industry to improve sustainability, support economic growth, and community welfare.
Co-Authors Al Maulud Anis Tri Rahmawati AUNUR ROFIQ Dinda Ruliana Dewi Egie Nugraha, Diki Eko Suprayitno Emiliani Hilmi Maulana, Muhammad Hisnidah, Mukaromatul Jannara Dewaji Jauharudin, Fahmi Kevin Junjung Miharta Maimuna, Islamiyah Muhammad Iqbal Fatoni Muhammad Mashduqi Muhtadi Ridwan Rahmad Kurniawan Riska Widya Abiba Rofiq , Aunur Rofiq, Mokhammad Ainur Rosyidi, Laily