RESERVES FOR SHARIA LIFE INSURANCE CONTRIBUTIONS USING THE GROSS PREMIUM VALUATION (GPV) METHOD BASED ON VASICEK MODEL
Determining reserve for life insurance contributions has factors that influence it, such as contributions developed by participants and operational costs. Based on the financial services authority Number 71 of 2016, related to the company's financial health, one of which is that sharia insuranc...
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| Format: | Article |
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Universitas Pattimura
2023-06-01
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| Series: | Barekeng |
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| Online Access: | https://ojs3.unpatti.ac.id/index.php/barekeng/article/view/6749 |
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| author | Wahri Irawan Ramdhan Fazrianto Suwarman Muhamad Fadli Azim Budi Sudrajat Nurmaita Hamsyiah |
| author_facet | Wahri Irawan Ramdhan Fazrianto Suwarman Muhamad Fadli Azim Budi Sudrajat Nurmaita Hamsyiah |
| author_sort | Wahri Irawan |
| collection | DOAJ |
| description | Determining reserve for life insurance contributions has factors that influence it, such as contributions developed by participants and operational costs. Based on the financial services authority Number 71 of 2016, related to the company's financial health, one of which is that sharia insurance companies can make reserve for contributions. In this study, we discuss the calculation of the contribution of the initial value of return on investment which is sensitive and different calculations for the technical calculation of the contribution of sharia life insurance using the gross premium assessment method (GPV) by applying the Monte-Carlo simulation and using the vasicek model in calculating the discount factor so that with this method can recommend several possible contributions and contributions reserve from sharia life insurance products. |
| format | Article |
| id | doaj-art-78f034bfa6c54e92bfbdcbd54da7ab8f |
| institution | Kabale University |
| issn | 1978-7227 2615-3017 |
| language | English |
| publishDate | 2023-06-01 |
| publisher | Universitas Pattimura |
| record_format | Article |
| series | Barekeng |
| spelling | doaj-art-78f034bfa6c54e92bfbdcbd54da7ab8f2025-08-20T03:35:55ZengUniversitas PattimuraBarekeng1978-72272615-30172023-06-011720635064010.30598/barekengvol17iss2pp0635-06406749RESERVES FOR SHARIA LIFE INSURANCE CONTRIBUTIONS USING THE GROSS PREMIUM VALUATION (GPV) METHOD BASED ON VASICEK MODELWahri Irawan0Ramdhan Fazrianto Suwarman1Muhamad Fadli Azim2Budi Sudrajat3Nurmaita Hamsyiah4Department of Islamic Insurance, Faculty of Islamic Economic and Business, Universitas Islam Negeri Sultan Maulana Hasanuddin Banten, IndonesiaDepartment of Mathematics, Faculty of Mathematics and Natural Science, Universitas Negeri Malang, IndonesiaDepartment of Islamic Insurance, Faculty of Islamic Economic and Business, Universitas Islam Negeri Sultan Maulana Hasanuddin Banten, IndonesiaDepartment of Islamic Insurance, Faculty of Islamic Economic and Business, Universitas Islam Negeri Sultan Maulana Hasanuddin Banten, IndonesiaDepartment of Islamic Insurance, Faculty of Islamic Economic and Business, Universitas Islam Negeri Sultan Maulana Hasanuddin Banten, IndonesiaDetermining reserve for life insurance contributions has factors that influence it, such as contributions developed by participants and operational costs. Based on the financial services authority Number 71 of 2016, related to the company's financial health, one of which is that sharia insurance companies can make reserve for contributions. In this study, we discuss the calculation of the contribution of the initial value of return on investment which is sensitive and different calculations for the technical calculation of the contribution of sharia life insurance using the gross premium assessment method (GPV) by applying the Monte-Carlo simulation and using the vasicek model in calculating the discount factor so that with this method can recommend several possible contributions and contributions reserve from sharia life insurance products.https://ojs3.unpatti.ac.id/index.php/barekeng/article/view/6749contribution life insurancecontribution reservegross premium valuationmonte-carlo simulation |
| spellingShingle | Wahri Irawan Ramdhan Fazrianto Suwarman Muhamad Fadli Azim Budi Sudrajat Nurmaita Hamsyiah RESERVES FOR SHARIA LIFE INSURANCE CONTRIBUTIONS USING THE GROSS PREMIUM VALUATION (GPV) METHOD BASED ON VASICEK MODEL Barekeng contribution life insurance contribution reserve gross premium valuation monte-carlo simulation |
| title | RESERVES FOR SHARIA LIFE INSURANCE CONTRIBUTIONS USING THE GROSS PREMIUM VALUATION (GPV) METHOD BASED ON VASICEK MODEL |
| title_full | RESERVES FOR SHARIA LIFE INSURANCE CONTRIBUTIONS USING THE GROSS PREMIUM VALUATION (GPV) METHOD BASED ON VASICEK MODEL |
| title_fullStr | RESERVES FOR SHARIA LIFE INSURANCE CONTRIBUTIONS USING THE GROSS PREMIUM VALUATION (GPV) METHOD BASED ON VASICEK MODEL |
| title_full_unstemmed | RESERVES FOR SHARIA LIFE INSURANCE CONTRIBUTIONS USING THE GROSS PREMIUM VALUATION (GPV) METHOD BASED ON VASICEK MODEL |
| title_short | RESERVES FOR SHARIA LIFE INSURANCE CONTRIBUTIONS USING THE GROSS PREMIUM VALUATION (GPV) METHOD BASED ON VASICEK MODEL |
| title_sort | reserves for sharia life insurance contributions using the gross premium valuation gpv method based on vasicek model |
| topic | contribution life insurance contribution reserve gross premium valuation monte-carlo simulation |
| url | https://ojs3.unpatti.ac.id/index.php/barekeng/article/view/6749 |
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