Sharing of Risk Pada Asuransi Syariah (Takaful): Pemahaman Konsep Dan Mekanisme Kerja

Agusti, Netta

doi:10.14421/jmd.2017.32-04

Cited by 1 publication

(1 citation statement)

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“…Effective regulations/policies can be realized as long as the elements involved in achieving the objectives are met, the regulations are clear making it easy for the implementers of the regulations to understand; there are the roles of law enforcement in providing a support for the implementation of these regulations in the form of evaluation and coordination with related parties; and there is an implementation result (Fitriyani, 2018). Sharia insurance is an industry including insurance/ risk management services, distribution of insurance products, consulting, reinsurance and loss assessment based on sharia principles (Agusti, 2017).…”

Section: Literature Review and Hypothesesmentioning

confidence: 99%

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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Section: Literature Review and Hypothesesmentioning

confidence: 99%