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All Journal Algebra : Jurnal Pendidikan Sosial dan Sains
Rizky Basir
Universitas Islam Negeri Sumatera Utara
Education Environmental Science Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Mathematics Neuroscience Physics Social Sciences Other

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ANALYSIS OF THE CONTRIBUTION OF SHARIA MOTOR VEHICLE INSURANCE PREMIUMS TO THE TOTAL PREMIUM CONTRIBUTION OF THE SHARIA INSURANCE INDUSTRY IN INDONESIA Andika Saputra; Rizky Basir; Mhd Hafiz; Fikri Ariga; Yudi Paruhum; Nurhayati Harahap
Algebra : Jurnal Pendidikan, Sosial dan Sains Vol. 6 No. 1 (2026): Algebra : Jurnal Pendidikan Sosial dan Sains
Publisher : Yayasan Amanah Nur Aman

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58432/thz25y49

Abstract

The development of the Islamic insurance industry in Indonesia continues to grow as the public becomes more aware of financial products that adhere to Islamic principles. Among the various business sectors within Islamic general insurance, Islamic motor vehicle insurance offers significant potential. This study aims to determine the contribution of Islamic motor vehicle insurance premiums to the total premiums of the Islamic insurance industry in Indonesia and to understand its role within the overall structure of the industry. This study uses a descriptive quantitative method by analyzing secondary data derived from reports from the Financial Services Authority (OJK) and the Indonesian Islamic Insurance Association (AASI).The research results show that Sharia motor vehicle insurance premiums contribute significantly to the Sharia general insurance category, but their contribution to the total premiums of the Sharia insurance industry remains relatively small compared to Sharia life insurance, which dominates the market. This is because Sharia life insurance products are well-known and widely accepted, while Sharia general insurance still has a limited market share. It is hoped that this research will assist stakeholders and industry regulators in designing Sharia motor vehicle insurance development strategies to increase its contribution to the national Sharia insurance industry.
Co-Authors Andika Saputra Fikri Ariga Mhd Hafiz Nurhayati Harahap Yudi Paruhum