Analisis Faktor-Faktor yang Memengaruhi Perolehan Underwriting Dana Tabarru’ pada Asuransi Umum Syariah di Indonesia

Abstract

Underwriting merupakan salah satu indikator penting dalam menilai kinerja keuangan perusahaan asuransi. Penelitian ini bertujuan untuk menganalisis perkembangan dan faktor-faktor yang memengaruhi perolehan underwriting dana tabarru' pada 10 perusahaan dan unit usaha asuransi umum syariah di Indonesia periode 2019–2024 dengan menggunakan analisis regresi data panel. Hasil penelitian dengan pendekatan Random Effect Model menunjukkan bahwa seluruh variabel secara simultan berpengaruh signifikan terhadap perolehan underwriting. Secara parsial, pendapatan kontribusi dan rasio beban klaim berpengaruh negatif signifikan dan hasil investasi berpengaruh positif signifikan terhadap perolehan underwriting dana tabarru', sedangkan Risk Based Capital (RBC), rasio perimbangan investasi dengan liabilitas, inflasi, dan suku bunga tidak berpengaruh signifikan. Penelitian ini diharapkan dapat menjadi bahan pertimbangan dalam mengoptimalkan strategi investasi dan pengelolaan dana tabarru' guna menjaga stabilitas underwriting pada perusahan dan unit usaha asuransi umum syariah.

Underwriting was one of the key indicators in assessing the financial performance of insurance companies. This study aimed to analyze the trend and factors that influenced underwriting income from tabarru' funds at 10 Islamic general insurance companies and business units in Indonesia for the period 2019–2024 using panel data regression analysis. The results of the study, using the Random Effects Model, indicated that all variables simultaneously had a significant effect on underwriting income. Partially, the contribution and claims expense ratio had a significant negative effect, and investment returns had a significant positive effect on tabarru' fund underwriting income, while Risk Based Capital (RBC), the investment to liability ratio, inflation, and interest rates did not have a significant effect. This study was expected to serve as a basis for consideration in optimizing investment strategies and the management of tabarru' funds to maintain underwriting stability in sharia general insurance companies and business units.