Investigation of Surplus (Deficit) Underwriting of
Tabarru' Fund on BNI Life Insurance Unit Syariah
Baso Akib^{1} , Muh. Takbir Gawy Al Buny MYS^{2}, Jawad Z. Salic^{3}
^{1,2}Parahikma Institude, Gowa, Indonesia, ^{3}Mindanao State University, Marawi, Philippines
Email: [email protected]^{1},� [email protected]^{2}, [email protected]^{3}
Abstract 
This study aims to examine the factors influencing the factors influencing the underwriting surplus (deficit) of tabarru' funds in BNI Life Insurance's sharia unit between June and July 2023. Utilizing a quantitative and descriptive methodology, the research relies on secondary data sourced from BNI Life Insurance's sharia unit financial reports spanning from 2015 to 2022. The sampling technique employed is a saturated sample, encompassing 32 timeseries data points extracted from quarterly financial reports. Data collection methods include observation and documentation, with analysis conducted using multiple linear regression analysis through IBM SPSS version 20. The findings indicate that participant contributions have a positive and significant influence on the underwriting surplus (deficit) of tabarru' funds, whereas investment income and claims have a negative and significant impact. Collectively, participant contributions, investment income, and claims significantly affect the underwriting surplus (deficit). The results suggest that enhancing management practices and ensuring the stability of participant contributions, investment income, and claims could improve the underwriting surplus of BNI Life Insurance's sharia unit. The research suggests that better company management and the provision of shariacompliant products can increase customer loyalty and public interest, thereby boosting the company's assets. 
Keywords: 
Surplus (Deficit), Tabarru Fund, Underwriting 
INTRODUCTION
In the current era of globalization,
the development of
Information and Technology
(IT) has had an impact on people's
lives
In a country where Muslims are the majority of the population, shariabased
insurance is needed as well as being able to influence people's desires because
it can provide the security needed by the community against certain threats
with risk management in accordance with sharia
Fatwa of the National Sharia Council (DSN) no. 21/DSN/MUI/X/2001 reveals
that shariabased insurance is an effort by a number of parties to protect and
support each other through the investment of tabarru' funds that provide a
recovery structure to manage certain risks by taking contracts that are not
contrary to sharia or sharia insurance management is said to be an idea where
customers work in the same direction, namely helping each other through asset investment
or tabarru' which provides a pattern of returns to manage certain risks through
the use of contracts that are in accordance with sharia and management is
provided by sharia insurance companies in exchange for ujrah
One of the institutions that provides guarantees to its customers with
operations in accordance with Sharia is the BNI Life Insurance Sharia unit. The
insurance company offers various products in developing companies that are run,
such as health insurance, life insurance, education, investment, and old age.
During its operation, the Islamic insurance company mentioned above cannot
be separated from the implementation of the underwriting management function
because in managing tabarru' funds, an underwriting process is required here
underwriting is a method used by insurance companies to select and categorize
risks in deciding the level of risk to be taken and the amount of contribution
to be given with the aim of providing a scheme for the process of providing
risks among insurance participants that are proportional and fair
Tabarru' fund underwriting is used as one of the standards to assess how
each Islamic insurance business handles its customers' money because it is very
important and must be taken into account
The underwriting surplus (deficit) of tabarru' funds fluctuates annually,
sometimes showing a positive change and other times a negative one. These
variations are attributed to significant changes in specific indicators. Humaemah et al.
In line with the research of Estiningsih et al.
RESEARCH
METHOD
This study employs a quantitative strategy in
conjunction with a descriptive approach. The data collected contains numerical
numbers from the financial statements of BNI Life Insurance's Sharia unit, with
an emphasis on participant contributions, investment revenue, claims, and the
underwriting surplus (deficit) of tabarru' funds. From June to July 2023, the
research was conducted at the BNI Life Insurance Sharia unit, which is located
at Jl. Gatot Subroto Kav 2425, Jakarta 12930, Indonesia.
The population in this research includes the whole set
of financial statements released by BNI Life Insurance's Sharia subsidiary,
with a focus on participant contributions, investment income, claims, and the
underwriting surplus (deficit) of tabarru funds. The sample was picked using a
nonprobability sampling approach (saturated sample), gathering timeseries
data from each quarterly report from 2015 to 2022 for a total of 32 samples.
Data collecting strategies included observation and documentation, with library
research and archive searches functioning as datagathering instruments.
SPSS (Statistical Product and Service Solution)
software was used to process and analyze the data. To answer the study
objectives, the acquired data were analyzed using a variety of methodologies,
including descriptive analysis, classical assumption tests, hypothesis testing,
and multiple linear regression analysis.
The research approval procedure required numerous
stages before the study could begin. Initially, the author applied for a
research permit to the Governor of South Sulawesi Province, Cq. Head of UPT P2T
BKPMD South Sulawesi Province, on behalf of the Dean of the Faculty of
Economics and Islamic Business, Institut Parahikma Indonesia. The letter,
104/FEBI.01/IPI/VI/2023, sought authorization to undertake the research and was
written to the Governor of South Sulawesi Province, Cq. Head of UPT P2T BKPMD
South Sulawesi Province. Following that, approval for the research was obtained
by a letter from the Acting Head of the Investment and OneStop Integrated
Service Office of South Sulawesi Province, on behalf of the Governor of South
Sulawesi, dated 18761/S.01/PTSP/2023.
RESULTS
AND DISCUSSION
Descriptive
Analysis
Table 1. Descriptive Analysis Results
Descriptive Statistics 


N 
Minimum 
Maximum 
Mean 
Std. Deviation 
Participant
Contribution 
32 
62570,00 
499902,00 
183728,0400 
126267,15106 
Investment
Income 
32 
1076,57 
49991,75 
15710,9997 
15215,97187 
Claim 
32 
16293,00 
296862,00 
88746,2544 
61233,47068 
Tabarru'
Fund Underwriting Surplus (Deficit) 
32 
19844,85 
72705,00 
3599,0009 
15250,43441 
Valid
N (listwise) 
32 




Source: SPSS 20 Output Results (2023)
The table provides the
following explanation:
a.
Participants' contributions
range from 62,570.00 to 499,902.00, with an average of 183,728.04 and a
standard deviation of 126,267.15.
b.
Investment income ranges from
1,076.57 to 49,991.75, with an average value of 15,711.00 and a standard
deviation of 15.215.97.
c.
Claims range in amount from
16,293.00 to 296,862.00, with an average of 88,746.25 and a standard deviation
of 61,233.47.
d.
Tabarru' funds' underwriting
surplus (deficit) ranges from 19,844.85 to 72,705.00, with an average of
3,599.00 and a standard deviation of 15,250.43.
Classical
Assumption Test
Data
normality test
Source: SPSS 20
Output Results (2023)
Figure 1.
Normality Test ResultsHistogram
According to Figure 1, the histogram has a bellshaped
curve, which indicates a normal distribution. This shows that the regression
model utilized in the study has a normal distribution.
Source: SPSS 20 Output Results (2023)
Figure 2.
Normality Test ResultsNormal PP Plot
The regression model used in
this study is deemed normally distributed since the points are uniformly
scattered around the diagonal line. A significance test was used to establish
whether or not the data was normal. If the significance value is less than
0.05, the data is deemed nonnormally distributed; if it is larger than 0.05,
it is considered regularly distributed. The onesample KolmogorovSmirnov test
was used to determine the normality of data distribution.
Table
2. Results of the KolmogorovSmirnov Normality Test
OneSample
KolmogorovSmirnov Test 


Unstandardized
Residual 

N 
32 

Normal Parameters^{a,b} 
Mean 
0E7 
Std. Deviation 
10047,00409293 

Most Extreme Differences 
Absolute 
0,113 
Positive 
0,113 

Negative 
0,065 

KolmogorovSmirnov Z 
0,639 

Asymp. Sig. (2tailed) 
0,810 

a. Test distribution is Normal. 

b. Calculated from data. 
Source: SPSS 20 Output Results (2023)
The results of
the onesample KolmogorovSmirnov test showed an Asymp. Sig. (2tailed) value
of 0.810, which is larger than 0.05. This suggests that the data being examined
has a normal distribution.
Multicollinearity
test
Table
3. Test Results (Multicollinearity, Multiple Linear Regression, and t/Partial)
Coefficients^{a} 

Model 
Unstandardized
Coefficients 
Standardized
Coefficients 
t 
Sig. 
Collinearity
Statistics 

B 
Std.
Error 
Beta 
Tolerance 
VIF 

1 
(Constant) 
2367,318 
3418,504 

0,693 
0,494 


Participant Contribution 
0,225 
0,038 
1,863 
5,875 
0,000 
0,154 
6,489 

Investment Income 
0,891 
0,205 
0,889 
4,346 
0,000 
0,371 
2,697 

Claim 
0,241 
0,066 
0,968 
3,665 
0,001 
0,222 
4,497 

a. Dependent Variable:
Tabarru' Fund Underwriting Surplus (Deficit) 
Source: SPSS 20 Output Results (2023)
The table shows that there is no
evidence of multicollinearity among the independent variables. This is
demonstrated by the VIF values, which are all less than 10 (6.489 for
participant contribution, 2.697 for investment income, and 4.497 for the claim
variable), as well as the tolerance values, all of which are greater than 0.1
(0.154 for participant contribution, 0.371 for investment income, and 0.222 for
the claim variable).
Heteroscedasticity test
Source: SPSS 20 Output Results (2023)
Figure
3.
Heteroscedasticity Test Results
According to Figure 3, the dots
are randomly distributed below the zero line on the Yaxis, without
establishing a discernible pattern. This implies the lack of heteroscedasticity
symptoms, allowing the regression model to forecast changes in the surplus
(deficit) underwriting of tabarru' funds using the independent variables.
Autocorrelation test
Table
4. Test Results (AutocorrelationDurbin Watson and R Analysis )
Model Summary^{b} 

Model 
R 
R Square 
Adjusted R Square 
Std. Error of the Estimate 
DurbinWatson 
1 
0,752^{a} 
0,566 
0,519 
10571,54373 
1,897 
a.
Predictors: (Constant), Claims, Investment Income, Participant Contributions 

b.
Dependent Variable: Tabarru' Fund Underwriting Surplus (Deficit) 
Source: SPSS 20 Output Results (2023)
The
DurbinWatson (DW) statistic has a computed value of 1.897, which is shown in
the table. against determine autocorrelation, compare the DW statistic against
critical values from a table. With a 0.05 significance level, the critical
values for a sample size (n) of 32 and three independent variables (k) are
DU=1.6505 and 4DU=2.3495. The DW statistic (1.897) falls within these values
(1.6505 < 1.897 < 2.3495), indicating that the regression model does not
show signs of autocorrelation.
Multiple
Linear Regression Model
The table explains the constant
(α) and β coefficients for participant contributions, investment
income, and claims in a multiple linear regression equation. These numbers are
utilized to create a regression model that predicts the surplus (deficit)
underwriting of tabarru' funds using the independent variables. The multiple
linear regression analysis findings can be described as follows:
1)
Multiple linear regression analysis resulted in
a constant value of 2,367,318. This means that when all of the independent
variables (participant contributions, investment income, and claims) are equal
to zero, the dependent variable (surplus (deficit) underwriting of tabarru'
funds) stays at 2,367,318. �
2)
The coefficient value for participant
contributions of 0.225 means that for every 1% increase in participant
contributions, the surplus (deficit) underwriting value of tabarru' funds is
predicted to rise by 0.225. Conversely, for every 1% decline in member
contributions, the surplus (deficit) underwriting value of tabarru' funds is
predicted to fall by 0.225.
3)
The 0.891 coefficient for investment income
means that for every 1% rise in investment income, the surplus (deficit)
underwriting value of tabarru' funds is predicted to fall by 0.891. Conversely,
with every 1% fall in investment income, the surplus (deficit) underwriting
value of tabarru' funds is predicted to rise by 0.891.
4)
The 0.241 coefficient for claims shows that for
every 1% rise in claims, the surplus (deficit) underwriting value of tabarru'
funds is predicted to decline by 0.241. In contrast, with every 1% drop in
claims, the surplus (deficit) underwriting value of Tabarru' funds is predicted
to rise by 0.241.
Hypothesis
Test
Ttest
(partial)
The degrees of freedom (df) for the ttest may be determined from the study
data using the formula df = n  k  1, where n is the number of samples (32)
and k is the number of independent variables (3). Thus, df = 32  3  1, which
is 28. The ttable value for df=28 is 1.701. The findings of the ttest in
Table 4 on page 7 can be read as follows:
a)
Participant contributions have a considerable
influence on the surplus or deficit underwriting of tabarru' funds, with a
tvalue of 5.875, above the essential tvalue of 1.701 at a significance level
of 0.05. With a significance level of 0.000, which is less than 0.05, the null
hypothesis (H0) is rejected, and the alternative hypothesis (H1) is accepted.
This means that participant contributions (X) have a positive and considerable
impact on tabarru's surplus (deficit) underwriting (Y).
b)
The impact of investment income on the surplus
(deficit) underwriting of tabarru' funds is substantial, as demonstrated by the
tvalue of 4.346, which is less than the crucial tvalue of 1.701 at a
significance level of 0.05. With a significance level of 0.000, which is less
than 0.05, the null hypothesis (H0) is rejected, and the alternative hypothesis
(H1) is accepted. This implies that investment income (X) has a negative and large
impact on the surplus (deficit) underwriting of tabarru' funds. �
c)
Claims have a substantial influence on the
surplus (deficit) underwriting of tabarru' funds, as evidenced by the tvalue
of 3.665, which is less than the necessary tvalue of 1.701 for a
significance level of 0.05. With a significance level of 0.001, which is less
than 0.05, the null hypothesis (H0) is rejected, and the alternative hypothesis
(H1) is accepted. This means that claims (X) greatly negatively impact
tabarru's underwriting surplus (deficit).
F test (simultaneous)
Table
6. F Test Results (Simultaneous)
ANOVA^{a} 

Model 
Sum of Squares 
df 
Mean Square 
F 
Sig. 

1 
Regression 
4080637212,848 
3 
1360212404.283 
12,171 
0,000^{b} 
Residuals 
3129211028,544 
28 
111757536.734 



Total 
7209848241,392 
31 




a. Dependent Variable: Tabarru' Fund Underwriting Surplus
(Deficit) 

b. Predictors: (Constant), Claims, Investment Income,
Participant Contributions 
Source: SPSS 20 Output Results (2023)
A significance value of 0.000 is assigned to the computed Fvalue of 12.171
derived from Table 6. To calculate the crucial Fvalue, the degrees of freedom
(df) must be established. For the numerator df (df1), which represents the
number of independent variables minus one, df1 = 4  1 = 3. The denominator df
(df2) is the total number of samples minus the number of independent variables
minus one: df2 = 32  4  1 = 27.
Looking up these df values in
the Fdistribution table at a significance threshold of 0.05 yields the crucial
Fvalue of 2.947. Because the computed Fvalue of 12.171 is more than the
crucial Fvalue of 2.947, and the significance level of 0.000 is less than
0.05, it may be inferred that the independent factors have a positive and
significant influence on the dependent variable.
Analysis
of the coefficient of determination (R^{2})
R analysis test results show a
coefficient of determination (Rsquared) of 0.519. This suggests that the
independent factors examined can explain 51.9% of the variation in the
dependent variable, surplus (deficit) underwriting of tabarru' funds. The
remaining 48.1% of the variation is due to variables beyond the scope of this
study.
CONCLUSION
The study's results indicate that participant contributions positively and
significantly impact the surplus (deficit) underwriting of tabarru' funds. This
suggests that higher contributions lead to increased surplus (deficit), while
lower contributions result in a decrease. Conversely, both investment income
and claims negatively and significantly affect the surplus (deficit),
indicating that higher investment income or claims lead to a reduced surplus
(deficit). The study also found that participant contributions, investment
income, and claims collectively significantly influence the surplus (deficit)
underwriting of tabarru' funds. Based on these findings, the author recommends
that the BNI Life Insurance Sharia unit take steps to mitigate default risks in
order to enhance the underwriting surplus. This could attract more investments
in Islamic insurance. Additionally, the author suggests introducing Hajj and
Umrah insurance products to cater to the needs of the Muslim community. It is
also recommended that the public be encouraged to engage with Islamic financial
institutions as a viable alternative to traditional financing. For future
research, the author suggests focusing on company management variables to
assess their impact on profit. In conclusion, the study suggests that effective
management and providing Shariabased products such as life protection, health,
education, investment, and retirement plans could enhance public interest and
participant contributions. This, in turn, could lead to increased investment
income, claims, and underwriting surplus in the BNI Life Insurance Sharia unit.
REFERENCE
Akib, B. (2020). Pengaruh
Pemanfaatan Teknologi Informasi dan Kualitas Sumber Daya Manusia Terhadap
Kinerja SKPD Pemerintah Kota Palopo. ElIdarah: Jurnal Manajemen Pendidikan
Islam, 6(2), 145�159.
Bahasoan, A. N., Soumena, F.
Y., Arsyad, R., & others. (2023). Identifying Increasing Poverty in
Indonesia: Does the Human Development Index and Unemployment Affect Poverty in
Indonesia? Migration Letters, 20(8), 585�605.
Dirmawati, D., Sapitri, N.
A., Soumena, F. Y., & Mustakim, D. (2023). The Influence of Islamic
Branding and Brand Ambassadors on Purchase Intention at Tokopedia.
International Journal of Engineering Business and Social Science, 1(04),
1269�1277.
Estiningsih, W., Mursito,
H., Nurranto, H., & Lestiyono, S. (2022). Pengaruh Kontribusi Bruto, Reasuransi
Dan Klaim Terhadap Surplus Underwriting Dana Tabarru Pt Asuransi Umum Mega,
Tbk Unit Syariah. SENTRI: Jurnal Riset Ilmiah, 1(2), 392�401.
Fadilah, A., & Makhrus,
M. (2019). Pengelolaan dana tabarru�pada asuransi syariah dan relasinya dengan
fatwa dewan syariah nasional. Jurnal Hukum Ekonomi Syariah, 2(1), 87�103.
Humaemah, R., &
Kurohman, T. (2018). Pengaruh Kontribusi Peserta dan Pendapatan Investasi
terhadap Surplus Underwriting Dana Tabarru�pada PT. Prudential Life Assurance
Unit Syariah Periode 20102017. Syar�Insurance: Jurnal Asuransi Syariah, 4(2),
127�152.
Kamiliyah, Z. (2022). Faktor
Investasi Klasik Peserta Asuransi pada Unit Link Syariah di Yogyakarta. AN
NUR: Jurnal Studi Islam, 14(1), 62�79.
Kembara, A., &
Kamaliyah, F. (2023). Pengaruh Hasil Investasi, Underwriting, Dan Dana
Tabarru�Terhadap Laba Perusahaan Asuransi Jiwa Syariah Di Indonesia Periode
20172021. Jurnal Literasi Akuntansi, 3(4), 177�188.
Riady, A., Farida, I.,
Husna, M., & others. (2024). Examining The Influence Of Islamic Branding,
Physical Evidence, And Relationship Quality On Customer Loyalty In The Context
Of Bank Syariah Indonesia (Bsi) Makassar Branch At Unismuh. Journal of
Economics, Technology \& Business/Jurnal Ekonomi Teknologi \& Bisnis
(JETBIS), 3(3).
Rustamunadi, R., &
Lestari, I. (2021). Pengaruh Pendapatan Investasi Dan Pendapatan Pengelolaan
Portofolio Investasi Dana Peserta Terhadap Surplus (Defisit) Underwriting Dana
Tabarru�Pada Pt Bni Life Insurance Unit Syariah Periode 20152019. Syar�Insurance:
Jurnal Asuransi Syariah, 7(2), 32�39.
Sapitri, N. A. (2018).
Pengaruh ECommerce Dan Pemanfaatan Teknologi Informasi Terhadap Minat
Berwirausaha Online Dalam Perspektif Islam Pada Pedagang Online Di Kota
Makassar Sulawesi Selatan. ElIqtishod: Jurnal Ekonomi Syariah, 2(1), 26�39.
Sapitri, N. A., Hasbi, H.,
Nurhikma, N., & Sari, L. F. Z. (2024). The Influence of Investment Returns
and Tabarru Fund Contributions on The Asset Growth of Registered Sharia Life
Insurance Companies in Ojk in The Period 20192022. International Journal of
Engineering Business and Social Science, 2(5), 1284�1296.
Siregar, A. R., Rahma, T. I.
F., & Daulay, A. N. (2024). ANALISA KINERJA PERUSAHAAN DALAM RANGKA
PERSIAPAN SPIN OFF UNIT USAHA SYARIAH PT. AXA MANDIRI. Jurnal Manajemen Terapan
Dan Keuangan, 13(02), 520�531.
Suharli, S., Idayanti, R.,
Irma, I., Wahyu, N., & others. (2024). The Impact of Sharia Working
Capital Financing and SME Investments on Economic Growth in South Sulawesi.
East Asian Journal of Multidisciplinary Research, 3(5), 1875�1898.
Suharli, S., Wahab, A.,
& Habbe, A. H. (2021). Application Of Islamic Economic Principles In
Realizing Management Banking Without Interest. Dinasti International Journal
of Education Management and Social Science, 3(2), 277�288.
Widyastuti, E., &
Sholihah, A. (2022). Faktor Penentu Surplus Underwriting Dana Tabarru�Asuransi
Jiwa Syariah di Indonesia Periode 20152020. ElJizya: Jurnal Ekonomi Islam,
10(1), 67�84.
Xu, S., Wang, J., & Cao,
N. (2024). Study on the influencing factors of fishery producers� willingness
to participate in aquaculture insurancebased on the perspective of subjective
norms and risk perception. Aquaculture and Fisheries.
https://doi.org/10.1016/j.aaf.2024.04.002
Copyright
holder: Baso Akib, Muh. Takbir Gawy Al Buny MYS, Jawad Z. Salic ^{�}(2024)^{} 
First
publication right: 
This article
is licensed under: 