Improve product quality and services

Oct 13, 2025 by windailys.com 73 views

Introduction

Sharia insurance has been experiencing significant growth in recent years, with assets reaching Rp 16.66 trillion in 2014. As the Islamic economy continues to expand, it is essential to understand the factors that influence decisions to become sharia insurance customers. This study aims to determine the relationship between sharia factors, products, premiums, and promotions with community decisions to become sharia insurance customers in the city of Medan. By analyzing these factors, we can gain insights into the needs and preferences of potential customers and provide recommendations for sharia insurance companies to improve their products and services.

Methodology

This study involved 80 respondents from the city of Medan, using the SPSS 17.00 method and Spearman rank analysis. Random sampling was employed to ensure a representative sample of the population. The study aimed to identify the factors that influence decisions to become sharia insurance customers, including sharia factors, product factors, premium factors, and promotional factors.

Results

The results of the study showed that there was a significant relationship between sharia factors and decisions to become customers in Medan. This indicates that people are increasingly understanding and appreciating sharia principles in choosing insurance products. In addition, product factors also affect customer decisions, with people tending to choose products that are not only in accordance with sharia but also meet their financial needs.

The premium factor is also an essential consideration, with affordable premium costs and alignment with community ability being the main considerations in choosing sharia insurance. Finally, the promotional factor plays a crucial role in increasing public awareness of the existence of sharia insurance products. Effective promotion efforts can attract the attention of prospective customers and encourage them to make decisions.

Discussion

The results of this study highlight the importance of sharia factors, product factors, premium factors, and promotional factors in influencing decisions to become sharia insurance customers in Medan. The study's findings suggest that sharia insurance companies should focus on delivering clear information about sharia insurance products and improving the quality of products and services. This will not only increase the number of customers but also strengthen the position of sharia insurance in the financial industry in Indonesia.

Conclusion

In conclusion, this study has provided valuable insights into the factors that influence decisions to become sharia insurance customers in Medan. The study's findings suggest that sharia insurance companies should prioritize delivering clear information about sharia insurance products, improving the quality of products and services, and strengthening promotional strategies. By doing so, sharia insurance companies can attract more customers and strengthen their position in the financial industry in Indonesia.

Recommendations

Based on the study's findings, the following recommendations are made:

Improve product quality and services: Sharia insurance companies should focus on delivering high-quality products and services that meet the needs of customers.
Strengthen promotional strategies: Sharia insurance companies should invest in effective promotional strategies to increase public awareness of the existence of sharia insurance products.
Deliver clear information about sharia insurance products: Sharia insurance companies should provide clear and concise information about sharia insurance products to attract more customers.
Align premium costs with community ability: Sharia insurance companies should ensure that premium costs are affordable and aligned with community ability to increase customer satisfaction.

Limitations

This study has several limitations, including:

Sample size: The study involved a relatively small sample size of 80 respondents.
Sampling method: The study employed random sampling, which may not be representative of the entire population.
Data collection method: The study used a self-administered questionnaire, which may be subject to biases and limitations.

Future Research Directions

Future research should aim to:

Investigate the impact of sharia insurance on the financial industry in Indonesia: This study should explore the impact of sharia insurance on the financial industry in Indonesia and identify areas for improvement.
Examine the role of technology in sharia insurance: This study should investigate the role of technology in sharia insurance and identify opportunities for innovation and improvement.
Analyze the relationship between sharia insurance and economic growth: This study should explore the relationship between sharia insurance and economic growth and identify areas for improvement.

Conclusion

Introduction

Sharia insurance has been gaining popularity in recent years, particularly in Medan City. As the Islamic economy continues to expand, it is essential to understand the basics of sharia insurance and how it can benefit individuals and businesses. In this article, we will address some of the most frequently asked questions about sharia insurance in Medan City.

Q: What is Sharia Insurance?

A: Sharia insurance, also known as Takaful insurance, is a type of insurance that operates based on Islamic principles and is designed to provide financial protection to individuals and businesses while adhering to Islamic values.

Q: What are the benefits of Sharia Insurance?

A: The benefits of sharia insurance include:

Halal investment: Sharia insurance provides a halal investment opportunity for individuals and businesses.
Financial protection: Sharia insurance provides financial protection to individuals and businesses against unforeseen events.
Compliance with Islamic principles: Sharia insurance operates based on Islamic principles, making it a suitable option for individuals and businesses that adhere to Islamic values.

Q: How does Sharia Insurance work?

A: Sharia insurance works by pooling funds from policyholders to provide financial protection against unforeseen events. The funds are invested in halal investments, and the returns are used to pay claims to policyholders.

Q: What types of Sharia Insurance are available?

A: There are several types of sharia insurance available, including:

Life insurance: Sharia life insurance provides financial protection to policyholders and their beneficiaries in the event of death or disability.
General insurance: Sharia general insurance provides financial protection to policyholders against unforeseen events such as accidents, theft, and natural disasters.
Health insurance: Sharia health insurance provides financial protection to policyholders against medical expenses.

Q: How can I choose the right Sharia Insurance policy?

A: To choose the right sharia insurance policy, consider the following factors:

Coverage: Ensure that the policy provides adequate coverage for your needs.
Premium: Compare the premium rates of different policies to ensure that you are getting the best value for your money.
Reputation: Research the reputation of the insurance company to ensure that it is reliable and trustworthy.
Islamic compliance: Ensure that the policy is compliant with Islamic principles and values.

Q: Can I cancel my Sharia Insurance policy?

A: Yes, you can cancel your sharia insurance policy, but you may be subject to penalties or fees. It is essential to review the policy terms and conditions before canceling to understand the implications.

Q: How can I make a claim on my Sharia Insurance policy?

A: To make a claim on your sharia insurance policy, follow these steps:

Notify the insurance company: Inform the insurance company of the claim as soon as possible.
Provide documentation: Provide documentation to support your claim, such as medical records or police reports.
Wait for processing: Wait for the insurance company to process your claim and provide a decision.

Conclusion

In conclusion, sharia insurance is a type of insurance that operates based on Islamic principles and provides financial protection to individuals and businesses. By understanding the basics of sharia insurance, you can make informed decisions about your insurance needs and choose the right policy for your needs. If you have any further questions or concerns, consult with a sharia insurance expert or contact a reputable insurance company.