Efisiensi Biaya Industri Asuransi Jiwa di Indonesia dengan Metode Stochasic Frontier Approach (SFA) tahun 2010-2014

WICAKSONO, RISKI (2017) Efisiensi Biaya Industri Asuransi Jiwa di Indonesia dengan Metode Stochasic Frontier Approach (SFA) tahun 2010-2014. Other thesis, Universitas Sebelas Maret.

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    Abstract

    ABSTRACT COST EFFICIENCY OF LIFE INSURANCE INDUSTRY IN INDONESIA USING STOCHASTIC FRONTIER ANALYSIS (SFA) METHOD IN 2010-2014 Riski Wicaksono F1114034 Life insurance industry plays an important role in insurance industry in Indonesia with contribution of 49% to investment and 46% to insurance premium in 2014. At least a half the insurance industry dominated by life insurance industry. Thus, the efficiency of life insurance industry will determine the efficiency of insurance industry. This research aims to measure cost efficiency of local versus joint venture-owned life insurance companies in 2010-2014. Cost efficiency are defines as those capable to attain minimum cost to produce given output. Stochastic frontier Analysis (SFA) is utilized to measure cost efficiency under parametric approach. This study estimates the cost frontier of life insurance companies. This research employs production approach (value-added) in determining input and output in life insurance companies. The input variable are labor and business service, debt capital and equity capital. Input price variable selected are price of labor and business service, price of debt capital and price of equity capital. Then the output variable are claim and claim reserve and total investment. Sampling technique used in the study was purposive sampling. The sample of research 35 companies, consisted of 19 domestic and 16 joint-venture life insurance companies. Then, the data is collected the financial report of life insurance companies from “Satistik Perasuransian” Otoritas Jasa Keuangan (OJK). The findings, the average cost efficiency score of life insurance industry is 0,3563. The average cost efficiency score of domestic life insurance companies is 0,4793. Meanwhile, The average cost efficiency score of joint-venture life insurance companies is 0,2102. In addition, the result of hypothesis testing using independent sample t-test show that t-statistic greater then t-table value (3,39 > 1,69) and p-value is 0.00. This indicates that there is a significant difference of cost efficiency between domestic life insurance companies and joint-venture, in which domestic life insurance companies was more efficient compared with the joint-venture life insurance companies. Keywords: Life insurance Industry, Cost Efficiency, Stochastic Frontier Analysis (SFA).

    Item Type: Thesis (Other)
    Subjects: H Social Sciences > H Social Sciences (General)
    H Social Sciences > HB Economic Theory
    H Social Sciences > HC Economic History and Conditions
    Divisions: Fakultas Ekonomi
    Fakultas Ekonomi > Ekonomi Pembangunan
    Depositing User: faizah sarah yasarah
    Date Deposited: 06 Feb 2017 09:21
    Last Modified: 06 Feb 2017 09:21
    URI: https://eprints.uns.ac.id/id/eprint/31611

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