BAREKENG: Jurnal Ilmu Matematika dan Terapan
Vol 17 No 2 (2023): BAREKENG: Journal of Mathematics and Its Applications

RESERVES FOR SHARIA LIFE INSURANCE CONTRIBUTIONS USING THE GROSS PREMIUM VALUATION (GPV) METHOD BASED ON VASICEK MODEL

Wahri Irawan (Department of Islamic Insurance, Faculty of Islamic Economic and Business, Universitas Islam Negeri Sultan Maulana Hasanuddin Banten, Indonesia)
Ramdhan Fazrianto Suwarman (Department of Mathematics, Faculty of Mathematics and Natural Science, Universitas Negeri Malang, Indonesia)
Muhamad Fadli Azim (Department of Islamic Insurance, Faculty of Islamic Economic and Business, Universitas Islam Negeri Sultan Maulana Hasanuddin Banten, Indonesia)
Budi Sudrajat (Department of Islamic Insurance, Faculty of Islamic Economic and Business, Universitas Islam Negeri Sultan Maulana Hasanuddin Banten, Indonesia)
Nurmaita Hamsyiah (Department of Islamic Insurance, Faculty of Islamic Economic and Business, Universitas Islam Negeri Sultan Maulana Hasanuddin Banten, Indonesia)

Article Info

Publish Date
11 Jun 2023

Abstract

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.

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Journal Info
BAREKENG: Jurnal Ilmu Matematika dan Terapan
Website

Abbrev

barekeng

Publisher

Universitas Pattimura

Subject

Computer Science & IT Control & Systems Engineering Economics, Econometrics & Finance Energy Engineering Mathematics Mechanical Engineering Physics Transportation

Description

BAREKENG: Jurnal ilmu Matematika dan Terapan is one of the scientific publication media, which publish the article related to the result of research or study in the field of Pure Mathematics and Applied Mathematics. Focus and scope of BAREKENG: Jurnal ilmu Matematika dan Terapan, as follows: - Pure ...