Al-Iqtishadiyah: Ekonomi Syariah dan Hukum Ekonomi Syariah
Vol 10, No 1 (2024): Jurnal al-Iqtishadiyah

Efficiency Analysis of Islamic Life Insurance and Islamic General Insurance with Data Envelopment Analysis (DEA) Approach 2017-2022

Karlita Anggini (IPB University)
Rizky Ayu Puspita (IPB University)
Siti Nur Alfiana Ginting (IPB University)



Article Info

Publish Date
15 Aug 2024

Abstract

The Islamic insurance industry in Indonesia has yet to reach stability. There are still numerous issues to be addressed on both the demand and supply sides. An efficiency study is required to establish the extent to which Islamic insurance companies may optimize their resource use and have a significant impact on Islamic finance in Indonesia. The goal of this study is to evaluate the effectiveness of Islamic Life Insurance and Islamic General Insurance in Indonesia from 2017 to 2022. The purposive sampling strategy was used to acquire the data for this investigation. The approach used is Data Envelopment Analysis (DEA) with VRS assumptions. According to the study's findings, Islamic Life Insurance and Islamic General Insurance achieved the maximum level of efficiency (100 percent) between 2017 and 2022. However, PT Asuransi Islam Keluarga Indonesia as Islamic Life Insurance and PT Asuransi Jasindo Syariah as Islamic General Insurance have yet to achieve efficiency. This is because the company's tabarru funds, total assets, operating expenses, and claim expenses still need to be more efficient.

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Journal Info

Abbrev

IQT

Publisher

Subject

Religion Humanities Economics, Econometrics & Finance Law, Crime, Criminology & Criminal Justice Social Sciences

Description

Al-Iqtishadiyah : Ekonomi Syariah dan Hukum Ekonomi Syariah, E-ISSN: 2621-0274; P-ISSN: 2442-2282, published by Islamic Economic Department and Islamic Economic Law Department of Universitas Islam Kalimantan Muhammad Arsyad al-Banjari Banjarmasin Indonesia. It is a peer-reviewed journal of Islamic ...