Macroeconomic and demographic impacts on Islamic life insurance demand in Indonesia
Purpose – This study examines the influence of macroeconomics and population demographics on demand for Islamic life insurance in Indonesia. Methodology – This study uses time-series data analysis using the autoregressive distributed lag (ARDL)method. The study period is from January 2015 to Decemb...
Saved in:
| Main Authors: | , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Center for Islamic Economics Studies and Development
2025-01-01
|
| Series: | Jurnal Ekonomi dan Keuangan Islam |
| Subjects: | |
| Online Access: | https://journal.uii.ac.id/JEKI/article/view/35568 |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| _version_ | 1832589723634237440 |
|---|---|
| author | Tari Yulia Tilova Ranti Wiliasih Tita Nursyamsiah |
| author_facet | Tari Yulia Tilova Ranti Wiliasih Tita Nursyamsiah |
| author_sort | Tari Yulia Tilova |
| collection | DOAJ |
| description |
Purpose – This study examines the influence of macroeconomics and population demographics on demand for Islamic life insurance in Indonesia.
Methodology – This study uses time-series data analysis using the autoregressive distributed lag (ARDL)method. The study period is from January 2015 to December 2022.
Findings – According to the ARDL model, inflation and education levels have a positive effect on the demand for Islamic life insurance in the long run, while the Muslim population has a negative effect. In the short term, gross domestic product (GDP) per capita has a positive effect, while inflation and the Muslim population have a negative effect on the demand for Islamic life insurance in Indonesia.
Implications – This study provides valuable insights for the Islamic life insurance industry and policymakers. The industry should develop inclusive and affordable products tailored to diverse financial capacities and preferences, including those of the younger generations. Policymakers should promote public awareness and collaboration with financial institutions in order to expand access. These findings can guide strategies to enhance market penetration and financial inclusion.
Originality – This study fills the research gap by analyzing the relationship between Islamic life insurance demand, macroeconomics, and population demographics, where Muslim population has never been discussed by previous studies.
|
| format | Article |
| id | doaj-art-c0aa902dcf2047279601ece22c945155 |
| institution | Kabale University |
| issn | 2088-9968 2614-6908 |
| language | English |
| publishDate | 2025-01-01 |
| publisher | Center for Islamic Economics Studies and Development |
| record_format | Article |
| series | Jurnal Ekonomi dan Keuangan Islam |
| spelling | doaj-art-c0aa902dcf2047279601ece22c9451552025-01-24T08:56:28ZengCenter for Islamic Economics Studies and DevelopmentJurnal Ekonomi dan Keuangan Islam2088-99682614-69082025-01-0111110.20885/JEKI.vol11.iss1.art1Macroeconomic and demographic impacts on Islamic life insurance demand in IndonesiaTari Yulia Tilova0Ranti Wiliasih1Tita Nursyamsiah2Department of Sharia Economics, Faculty of Economics and Management, IPB University, Bogor, IndonesiaDepartment of Sharia Economics, Faculty of Economics and Management, IPB University, Bogor, IndonesiaDepartment of Economics, Faculty of Economics and Management Sciences, International Islamic University Malaysia (IIUM), Kuala Lumpur, Malaysia Purpose – This study examines the influence of macroeconomics and population demographics on demand for Islamic life insurance in Indonesia. Methodology – This study uses time-series data analysis using the autoregressive distributed lag (ARDL)method. The study period is from January 2015 to December 2022. Findings – According to the ARDL model, inflation and education levels have a positive effect on the demand for Islamic life insurance in the long run, while the Muslim population has a negative effect. In the short term, gross domestic product (GDP) per capita has a positive effect, while inflation and the Muslim population have a negative effect on the demand for Islamic life insurance in Indonesia. Implications – This study provides valuable insights for the Islamic life insurance industry and policymakers. The industry should develop inclusive and affordable products tailored to diverse financial capacities and preferences, including those of the younger generations. Policymakers should promote public awareness and collaboration with financial institutions in order to expand access. These findings can guide strategies to enhance market penetration and financial inclusion. Originality – This study fills the research gap by analyzing the relationship between Islamic life insurance demand, macroeconomics, and population demographics, where Muslim population has never been discussed by previous studies. https://journal.uii.ac.id/JEKI/article/view/35568ARDL approachIslamic insuranceSharia InsuranceMacroeconomic VariablesDemographic |
| spellingShingle | Tari Yulia Tilova Ranti Wiliasih Tita Nursyamsiah Macroeconomic and demographic impacts on Islamic life insurance demand in Indonesia Jurnal Ekonomi dan Keuangan Islam ARDL approach Islamic insurance Sharia Insurance Macroeconomic Variables Demographic |
| title | Macroeconomic and demographic impacts on Islamic life insurance demand in Indonesia |
| title_full | Macroeconomic and demographic impacts on Islamic life insurance demand in Indonesia |
| title_fullStr | Macroeconomic and demographic impacts on Islamic life insurance demand in Indonesia |
| title_full_unstemmed | Macroeconomic and demographic impacts on Islamic life insurance demand in Indonesia |
| title_short | Macroeconomic and demographic impacts on Islamic life insurance demand in Indonesia |
| title_sort | macroeconomic and demographic impacts on islamic life insurance demand in indonesia |
| topic | ARDL approach Islamic insurance Sharia Insurance Macroeconomic Variables Demographic |
| url | https://journal.uii.ac.id/JEKI/article/view/35568 |
| work_keys_str_mv | AT tariyuliatilova macroeconomicanddemographicimpactsonislamiclifeinsurancedemandinindonesia AT rantiwiliasih macroeconomicanddemographicimpactsonislamiclifeinsurancedemandinindonesia AT titanursyamsiah macroeconomicanddemographicimpactsonislamiclifeinsurancedemandinindonesia |