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All Journal Eduvest - Journal of Universal Studies
Budirachman, Ardhyanto
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Aerospace Engineering Computer Science & IT Health Professions Neuroscience Social Sciences

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Innovation Management in Insurance Brokerage Companies in The Development of Retirement Credit Life Insurance Budirachman, Ardhyanto
Eduvest - Journal of Universal Studies Vol. 5 No. 5 (2025): Eduvest - Journal of Universal Studies
Publisher : Green Publisher Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59188/eduvest.v5i5.51170

Abstract

The transformation of the financial services sector, driven by digitalization and regulatory dynamics, has placed new demands on insurance brokerage firms to act as intermediaries and innovation-driven strategic partners. This study aims to analyze innovation management within Indonesian insurance brokerage companies that develop retirement credit life insurance, particularly in the context of regulatory pressure and digital transformation. Employing a qualitative case study method, data were collected through in-depth interviews, observations, and document reviews involving strategic-level informants. Thematic analysis revealed three main findings: (1) innovation efforts are primarily focused on digitizing service processes and integrating systems with banks to enhance efficiency and customer satisfaction; (2) regulations issued by Indonesia’s Financial Services Authority (OJK) act as catalysts for innovation, pushing firms to adopt transparent, tech-based systems; and (3) ambidextrous strategies are adopted to balance service exploitation and innovation exploration. These findings validate the relevance of Open Innovation, Regulatory-Driven Innovation, and Organizational Ambidexterity in the insurance brokerage sector. Practically, this study offers strategic insights for brokerage firms to collaborate with insurtechs and banks, while also informing regulators to develop flexible policies that foster innovation without compromising consumer protection. The research contributes to bridging the gap in the literature on innovation management in insurance brokerages under strict regulatory constraints.
Digital-Based Knowledge Management Model in Improving Performance and Competitiveness Insurance Brokerage Companies in the Era of Financial Industry Transformation Budirachman, Ardhyanto
Eduvest - Journal of Universal Studies Vol. 5 No. 6 (2025): Eduvest - Journal of Universal Studies
Publisher : Green Publisher Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59188/eduvest.v5i6.51171

Abstract

The insurance brokerage industry in Indonesia faces digital disruption, regulatory shifts, and fragmented knowledge systems, necessitating integrated digital KM for strategic transformation. Despite existing studies on KM in financial services, sector-specific models for brokerages remain scarce. This research aims to (1) examine how digital KM drives strategic transformation, (2) assess the roles of digital HR, IT infrastructure, cyber risk, and regulatory adaptation, and (3) develop a validated model for brokerage firms. A deductive quantitative approach using PLS-SEM analyzed data from 300–500 Indonesian brokerage managers via structured questionnaires. The model tested hypotheses on five enablers’ influence on KM-mediated transformation. Digital KM significantly enhances transformation (β = 0.316, p < 0.001), with IT infrastructure (β = 0.301) and digital HR (β = 0.274) as primary drivers. Cyber risk (β = 0.193) and regulatory adaptation (β = 0.210) also contributed, albeit with smaller effects. The model explained 59.4% of transformation variance (R² = 0.594), demonstrating strong predictive power (Q² > 0.35). Organizations must embed KM into core processes and leadership strategies, while industry collaboration and policymakers should standardize KM governance. Future research should explore longitudinal impacts and AI-enhanced KM systems.
The Influence of Learning-Oriented Organizational Culture on Innovation and Firm Performance in The Creative Industry Felani, Herman Oddyansyah; Budirachman, Ardhyanto; Anggiani, Sarfilianty
Eduvest - Journal of Universal Studies Vol. 4 No. 12 (2024): Journal Eduvest - Journal of Universal Studies
Publisher : Green Publisher Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59188/eduvest.v4i12.1507

Abstract

The creative industry is an important sector in the Indonesian economy. This industry has great potential to increase economic growth, job creation and national competitiveness. However, to achieve this potential, companies in the creative industries need to continue to innovate and improve their performance. One of the factors that can encourage innovation and company performance is a learning-oriented organizational culture. This research aims to analyze the influence of learning-oriented organizational culture on innovation in creative industry companies. This research uses quantitative research methods. Data was collected through surveys using questionnaires and literature studies. The data that has been collected is then analyzed using a regression test using the SPSS program. The research results show that a learning-oriented organizational culture has a positive influence on innovation and company performance in the creative industries. This culture creates an environment that encourages employees to continuously learn and develop, facilitates the exchange of ideas, and adopts new approaches to their work. In addition, a learning-oriented culture also improves overall company performance by improving operational efficiency, increasing employee satisfaction, and producing better and more innovative products or services.
Co-Authors Felani, Herman Oddyansyah Sarfilianty Anggiani, Sarfilianty