Pergulatan Asuransi Syariah di Indonesia

The Struggling of Sharia Insurance in Indonesia

Muhammad Nizar

MPRA Paper from University Library of Munich, Germany

Abstract: This paper aims to examine the struggle for shari'ah insurance in Indonesia. By using a qualitative-descriptive approach and time series data in the period 2010 - 2017, it is known that the struggle for sharia insurance in the national insurance market is indeed not easy. This is indicated in a number of indicators, namely (i) minimal regulatory and regulatory support; (ii) institutional support indicated by the relatively small number of insurance companies; (iii) asset development, although the growth is quite high, the value is still far below conventional insurance assets; (iii) ability to fulfill claims from Islamic insurance contribution funds is still low; (iv) with a limited portfolio choice, sharia insurance investments are still profitable (profitable investments); and (v) sharia insurance density and penetration are still far below conventional insurance. Shari'ah insurance struggle in the future is certainly more difficult because it must be able to win the opportunities that exist amid various challenges that also accompany it.

Keywords: conventional insurance; investment fund; risk fund; gharar; maysir; riba; takaful; ta’awun (search for similar items in EconPapers)
JEL-codes: A13 C81 G22 G28 G32 (search for similar items in EconPapers)
Date: 2018-11-30
New Economics Papers: this item is included in nep-ias, nep-isf and nep-sea
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