Citation:

Roby Ashari, Subiakto Sukarno. "Assesment Financing Insurance, Whether the Bank Carry Out its Own Insurance or Use an Insurance Company" International Research Journal of Economics and Management Studies, Vol. 3, No. 8, pp. 99-106, 2024.

Abstract:

BUR Sharia, serving families aspiring to prosperity, offers financial services such as the BUR Sharia Financing Group Loan, specifically designed to empower women. To guard against loan repayment failures due to customer mortality, BUR Sharia currently collaborates with an insurance vendor, with the bank covering the insurance premiums, thus protecting both customers and the institution. In the context of slowing macroeconomic growth and intense competition, BUR Sharia is compelled to enhance its operational efficiency. BUR Sharia must operate more effectively. Hence, it is assessing the possibility of using its own funds to cover the risk of customer defaults due to death and providing compensation in the event of a customer’s spouse’s death while still considering prudence and regulatory compliance by contemplating cost reductions without compromising the quality of service to its customers. This study aims to assist in evaluating the bank’s decision on whether it is better to use its own funds or to employ life insurance services to manage or bear the risk of customer defaults due to death and to investigate the advantages and challenges that will arise. This research employs a qualitative methodology, including interviews with heads of projects. Leaders and senior experts, followed by analysis using Cost & Benefit methods and SWOT analysis.

References:

[1] Alijoyo, A. W. (2021). Cost/Benefit Analysis. CRMS (Center for Risk Management Studies)
[2] Christine Namugenyi, S. L. (2019). Design of a SWOT Analysis Model and its Evaluation in Diverse Digital Business Ecosystem Contexts. Science Direct Procedia Computer Science.
[3] Djumhana, M. (2012). Hukum Perbankandi Indonesia. Bandung: PT. Citra Aditya Bakti.
[4] HABIBIE, B. J. (1998). Undang-undang Nomor 10 Tahun 1998 tentang perubahan Undang-Undang Nomor 7 Tahun 1992 tentang Perbankan (UU Perbankan).
[5] Haryo Limanseto, H. o. (2022, March). Retrieved from www.ekon.go.id: https://ekon.go.id/publikasi/detail/4065/coordinating-minister-airlanggagovernment-continues-to-encourage-strengthening-economic-foundations-by-establishing-digital-transformation-of-msmes-as-one-of-the-priorities
[6] Ida Ayu Meisthya Pratiwi, I. G. (2022). Regional Economic Development, Information Technology, and Sustainable Business. Yogyakarta: Jejak Pustaka.
[7] Indonesia, C. (n.d.). Risk Assessment based on ISO 31010.
[8] Kasmir. (2011). Manajemen Perbankan. Jakarta: PT.Raja Grafindo Persada.
[9] Keuangan, O. J. (2021). Peraturan Otoritas Jasa Keuangan No.13 /pojk.03/2021 Tentang Penyelenggaraan Produk Bank Umum.
[10] Keuangan, O. J. (2022). Peraturan Otoritas Jasa Keuangan No.2/ POJK.03/2022 Tentang Penilaian Kualitas Aset Bank Umum Syariah.
[11] Keuangan, O. J. (2023). Peraturan Otoritas Jasa Keuangan No.22 /pojk.12/2023 Tentang Pelindungan Konsumen dan Masyarakat Di sector Jasa Keuangan.
[12] Regulation, M. o. (2015). PMK No. 207/PMK.010/2015, Article 2.
[13] Rothaermel, F. (2017). Strategic Management. Third Edition. United States of America: McGraw-Hil.
[14] Sammut-Bonnici, T. (2015). SWOT Analysis.
[15] Snelling, J. (2012). The Influence of the SWOT Analysis in Organizational Development Strategic Planning. GRIN Verlag.
[16] YUDHOYONO, D. H. (2008). Undang-undang Republik Indonesia Nomor 21 tahun 2008 tentang Perbankan Syariah.
[17] YUDHOYONO, D. H. (2014). UU No. 14 Tahun 2014 tentang Perasuransian.
[18] Zackoff, M. W.-T. (2018). Enhancing Educational Scholarship Through Conceptual Frameworks: A Challenge and Roadmap for Medical Educators. Academic Pediatrics Elsevier

Keywords:

Financing Insurance, Self Insurance, Cost & Benefit analysis, SWOT analysis.