Determinants of Islamic General Insurance Market Share in Indonesia: The Influence of ROA, ROE, BOPO, and Inflation during the 2006-2021 Period
DOI:
https://doi.org/10.1229/tecempresarialjournal.v21i1.823Keywords:
ROA, ROE, BOPO, Literacy, InclusionAbstract
This study aims to determine the effect of Return on Assets (ROA), Return on Equity (ROE), the Operating Cost and Income Ratio (BOPO), and inflation on the market share of Sharia general insurance in Indonesia. This associative study utilizes a quantitative approach. The data used are secondary data in the form of Insurance Statistics from the Financial Services Authority (OJK) for 2006-2021. The COVID-19 period was eliminated to avoid bias. Multiple linear regression analysis was used, using endogenous market share variables and exogenous variables: ROA, ROE, BOPO, and inflation. The analysis tool used was EViews version 12. The results showed that ROA had a negative and significant effect on the market share of Sharia general insurance, ROE and BOPO had a positive and significant effect on the market share of Sharia general insurance, while inflation had no effect on the market share of Sharia general insurance. Sharia general insurance companies need to address these issues, including increasing public literacy and inclusion in Sharia general insurance, improving marketing human resources quantitatively and qualitatively, increasing investment in IT and human resource development, and controlling company operational costs.
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