The Analysis of Covid-19 Effect on Life Insurance in Indonesia

DOI

10.2991/assehr.k.211102.004How to use a DOI?

Keywords

Impact; Pandemic; Life Insurance

Abstract

This study aims to analyze the effect of Covid-19 on the conventional life insurance industry in Indonesia. This used quantitative research methodology by comparing data on premium income, total net premium income, comprehensive income statement 6 months before the pandemic (July 2019 - December 2019) with 6 months during the pandemic (January 2020 - June 2020) obtained from published OJK reports. Data analysis was performed by implementing the Paired Sample T Test on the SPSS program. The result is that the premium income 6 months before the pandemic is 144,904,759.2 and 6 months during the pandemic is 46,502,463.6, the t test value is 34,618 and sig <0.05. The net premium income 6 months before the pandemic was 139,630,395.4 and 6 months during the pandemic was 43,304,818.98, the t-test value was 31,418 and sig <0.05. In the comprehensive income statement 6 months before the pandemic is 497,219.67 and 6 months during the pandemic is - 3,405,878.72, the t test value is 2.853 and sig <0.036. Based on this analysis, it is concluded that there has been a decrease in value and a significant difference 6 during the pandemic in premium income, total net premium income, comprehensive income statement compared to 6 months before the pandemic.

Copyright

© 2021 The Authors. Published by Atlantis Press SARL.

Open Access

This is an open access article under the CC BY-NC license.

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TY  - CONF
AU  - Dyah Puspitasari Sunaryo Putri
PY  - 2021
DA  - 2021/11/16
TI  - The Analysis of Covid-19 Effect on Life Insurance in Indonesia
BT  - Proceedings of the 1st International Conference on Research in Social Sciences and Humanities (ICoRSH 2020)
PB  - Atlantis Press
SP  - 34
EP  - 39
SN  - 2352-5398
UR  - https://doi.org/10.2991/assehr.k.211102.004
DO  - 10.2991/assehr.k.211102.004
ID  - Putri2021
ER  -