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Since the end of the 20th century , the development of the global Islamic economics began to rise . More and more banks apply Islamic sharia principles , namely the banking system does not lend or charge a loan with the loan interest ( usury ) and have the prohibition to invest in businesses that have category haram in Islam .
This positive development is also seen in the development of Islamic economics in Indonesia with the growing Islamic banking assets of Rp49,6 trillion in 2008 to Rp223 trillion in August 2013. With the tremendous potential of these Islamic products , many insurance companies in Indonesia offering Islamic products .
Islamic insurance industry growth target of 35 % per year . In fact , the growth of Islamic insurance premiums reached 43 % in 2013. This is greater than the increase in conventional insurance which is in the top 20 % .
Therefore , the future of Islamic insurance in Indonesia, it is still wide open . Strong economic growth combined with higher levels of savings and economic development of the middle class , is a good sign for the life insurance industry sharia .
In a sense , Islamic insurance is insurance based on Islamic principles to the business of mutual help ( ta'awuni ) and protect each other ( takafuli ) among the participants through the establishment of a collection of funds ( Tabarru ' ) which is managed according to Islamic principles to deal with certain risks .
Principles of Islamic insurance itself is not much different from Islamic banking , which collects funds from the customer to be managed in accordance with Islamic law . In addition , the system also uses a system of Islamic insurance for results .
Placement of customer funds Islamic insurance participants also clear and not invested in prohibited business of religion , such as gambling or doubtful validity . Means Islamic insurance guarantee funds held or acquired kosher .
Scheme relationship insurer ( the company ) and the insured ( customers ) in the Islamic insurance is also different from conventional insurance . If the conventional insurance scheme is the transfer of risk , in Islamic insurance system to share risk ( risk sharing ) . Core relationship insurer and the insured is please- help , not the removal of the risk of participants insurance to the insurance company .
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