Evaluasi Kriteria Spin off: Proyeksi Nilai Kecukupan Dana Tabarru Industri Asuransi Syariah Pendekatan ARIMA

doi:10.34203/jimfe.v8i1.4902

Cited by 1 publication

(3 citation statements)

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“…Regarding the criteria for this spin-off, which regulate the achievement of Tabarru funds and an investment of 50% of the parent company’s insurance premium funds, this has been proven by previous research that has projected the achievement of Tabarru funds until the end of 2024. The results of this study proved that there is no Islamic insurance unit that can achieve value of 50% by the end of 2024 (Yustiani et al , 2022; Nurhayat, 2021). The Tabarru fund in this case represents the value of the premium received by the sharia insurance unit from the public, and then some of the premium are invested and reinsured into a larger insurance entity as a risk reduction strategy.…”

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confidence: 72%

“…Yunus (2019) and Nurhayat (2021) investigated the spin-off criteria using the ARIMA method, but the object studied was only limited in which Yunus did the research only for life insurance and Nurhayat only took the object of a sharia public company. The results of the two studies showed that a 50% of the adequacy of Tabarru funds and investment will not be achieved until the end of 2024 (Yunus, 2019; Nurhayat, 2021; Yustiani et al , 2022).…”

Section: Literature Review and Hypothesesmentioning

confidence: 99%

“…A number of researches related to spin-offs in sharia insurance have been conducted to measure the efficiency level in the sharia insurance industry using the data envelopment analysis (DEA) method (Sunarsih, 2018; Ghoni, 2021) and research related to the measurement of spin-off criteria using the ARIMA method (Yunus, 2019; Nurhayat, 2021; Yustiani et al , 2022). Whereas, this research raises the topic of effectiveness of the spin-off during its implementation and during its legal formulation as well as the form of monitoring and evaluation from the government and regulations.…”

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confidence: 99%

See 2 more Smart Citations

The case study of the sharia insurance industry: how far is the spin-off policy being effectively implemented in Indonesia?

Arianty,

Utami,

Yustiani

et al. 2023

JIABR

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Purpose This study aims to analyze the effectiveness of the spin-off policy which includes clarity of objectives and criteria, implementation and monitoring and evaluation functions. Design/methodology/approach The method used is a qualitative method with a theme approach and the analytical hierarchy process (AHP). Data were obtained from the results of focus group discussions and AHP questionnaires with informants from Indonesian Sharia Insurance Association (AASI), the sharia life and general insurance industry, the Sharia Supervisory Board, the government and regulators. Findings The results of the research are the effectiveness of the clarity of goals and criteria has not been realized optimally, the effectiveness of increasing profitability has not been realized, and the effectiveness of the monitoring and evaluation functions by the government and regulators has been realized. The supporting factor that has the highest level of importance is the role of the government and regulator. Research limitations/implications The limitation of this research is that it has not used a wider range of profitability test tools and projections. The theoretical implication of this research is as a reference for robust research in identifying spin-off success factors because this study uses a mixed method where qualitative methods are used in the study using data from theory and expert informants from three parties: regulatory parties, associations (AASI) and the insurance company (life insurance and general insurance). These results form the basis for compiling a questionnaire with a quantitative method so that the data is become relevant based on theory (design) and practical side. Practical implications Practical implication of the study is that the Islamic insurance industry has to prepare to achieve condition of Tabarru funds and the investment reaches 50% of the main insurance fund. AASI, as the sharia insurance industry organization, continues innovating the most suitable form of spin-off that can be achieved by the Sharia business unit and also continues to coordinate with regulators to discuss existing problems. The government and regulators also support the implementation of the spin-off by providing convenience in various aspects such as spin-off period relaxation and government incentive and relaxation to enhance sharia insurance industry. Originality/value The contribution of the results of this research for the government and regulatory agencies is as input in setting policies and regulations related to spin-offs, for the industry is expected to be more prepared in terms of resources, commitment and strategy.

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confidence: 72%