Analysis of Understanding and Belief in Interest in Becoming a Sharia Insurance Participant with Public Perception as an Intervening Variable
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Aug 27, 2025
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Abstract
This research is motivated by the low public understanding and trust in insurance, even though this insurance is very important for future life. This study aims to analyze the influence of public understanding and trust on the interest in becoming a Sharia insurance participant, with public perception as an intervening variable. The study was conducted in the rural area of Sibuhuan, Padang Lawas, considering the low penetration of Sharia insurance due to low public understanding and trust. A sample of 100 respondents was drawn from a population of 22,464 people, referring to the age distribution of BPS 2024–2025. Analysis using SmartPLS 4 showed that understanding and trust significantly influenced interest, with trust as the dominant factor. Public perception was proven to strengthen the relationship between understanding and trust on interest in participating in Sharia insurance.
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References
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Antoni, S. (2021). Comparative Analysis of Financial Performance of Sharia Insurance Companies Using Early Warning System Ratios Before and During the Covid-19 Pandemic. JAZ:Unihaz Journal of Accounting, 4(2): 243. doi:10.32663/jaz.v4i2.2448.
Aristyanto, E., Allen, P. P., & Riduwan. (2021). The Influence of Religiosity, Service and Premium Rates on the Satisfaction of Sharia Insurance Customers with Sharia Insurance Interest as an Intervening Variable in Surabaya Branch Sharia Insurance Company.
Aspan, S. S., Imsar, & Atika. (2025). Empirical Analysis of Policy Lapse Behavior Among Life Insurance Customers at PT Prudential Binjai. 8:224–29.
Asyaadatun, N. S., Muhammad, Y., & Aqwa, N. D. The Effect of Inflation, Exchange Rate, and GDP on the Profitability of Islamic Commercial Banks in Indonesia with Financing as an Intervening Variable. Journal of Intellectualita: Islam, Social and Science 12 (2): 145–56. https://doi.org/10.19109/intelektualita.v12i2.19364.
Ayu, D. A. (2022). Non-Muslim Customers' Interest in Buying Sharia Insurance Products (Case Study on Bumiputera Sharia Life Insurance 1912 Medan Branch). Arm Dent J. 33 (1): 1–12.
Ayub, T. Maryam, B., Muhammad,S. (2016). Analysis of Underwriting Methods to Increase Sharia Life Insurance Participants (Case Study of AJB Bumiputera 1912 Medan Branch) 3 (3): 1–23.
Brigham, E. F., & Joel, F. H. (2020). Fundamentals of Financial Management. Book 1, Translated by Novietha Indra Sallama and Febriany Kusumastuti. Jakarta: Salemba Empat.
Basania, N., Ahmad, S., & Wahyu, S. (2024). Analysis of Factors Affecting the Level of Public Knowledge of Sharia Bank Products. Journal of Business Management, 11(2): 999–1015. doi:10.33096/jmb.v11i2.889.
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Dita, A., Yusrizal., Wahyu, S. (2016). Analysis of the Financial Literacy Level of Sharia Insurance Agents in PT. Bumiputera 1912 Medan. 3(1): 1–23.
Ernawati. (2020). Marketing Strategy of Sharia Insurance Products at PT. Prudential Life Assurance Yogyakarta City Branch. ADL ISLAMIC ECONOMICS : Journal of Islamic Economic Studies 1(2): 99–112. doi:10.56644/adl.v1i2.14.
Imsar. (2016). The Effect of Return on Asset (Roa), Operating Costs and Operating Income (Bopo), Financing to Deposit Ratio (FDR) and Non-Performing Financing (NPF) on Capital Adequacy Ratio (CAR) in Bank Mega Syariah in 2012-2020, 1–23.
Imsar., Nurhayat., Isnaini, H., & Purnama, R. S. (2024). The Impact of the Halal Industry and Islamic Financial Assets on Indonesia's Economic Growth Using the Vector Autoregression (Var) Approach. EQUITY (Journal of Economics and Finance) 8 (2): 274–87. https://doi.org/10.24034/j25485024.y2024.v8.i2.6299.
Khumaini, S., & Muh., T. H. (2020). Public Perception and Interest in Sharia Insurance in Tangerang Regency. JESI (Indonesian Journal of Sharia Economics) 9(2): 86. doi:10.21927/jesi.2019.9(2).86-93.
Feri, W., Zuhrinal, M. N., & Wahyu, S. (2015). Analysis of Work Productivity of Sharia Marketing Unit Agents at Pt. Asuransi Jiwa Syariah Bumiputera Medan Branch.
Hernita, A. N. D., Fauzi, A. L. (2024). The Influence of the Role of Digitalization and Digital Transformation on Insurance Performance at PT. Chubb Life, 13 (04): 1393–1404.
Muhammad, B. H. M., Tri, I. F. R., & Muhammad, I. H. (2016). Analysis of Insurance Company Performance Measurement with the Concept of Balanced Scorecard (Case Study on PT. BRILife Syariah Gatot Subroto Branch) M. Αγαη, 15(1): 37–48.
Meianti, A., & Imsar. (2016). The Effect Of Good Corporate Governance On Company Value With Financial Performance As A Moderation Variable (Case Study Of Insurance Companies Listed On The Indonesia Stock Exchange) Ardhia 6 (3): 1–23.
Mudrikah, Azizah, & Imsar. (2023). The Effect of Sukuk, Sharia Mutual Funds, and Total Assets of Sharia LKNB on Economic Growth in Indonesia in 2015-2021. Author 7 (2): 1074–83. https://doi.org/10.33395/owner.v7i2.1402.
Nasution, Y. S. (2019). Analysis of Factors Affecting Customer Satisfaction of Education Fund at Pt Asuransi Takaful Keluarga in Medan City. AT-TAWASSUTH: Journal of Islamic Economics 4(2): 395. doi:10.30829/ajei.v4i2.5857.
Nia, A., & Wahyu, S. (2022). SWOT Analysis on PT. Bank Sumut Syariah Sub-Branch Binjai. Journal of Economics, Management, Accounting and Finance 3(2): 681–86. doi:10.53697/emak.v3i2.532.
Nirwansyah, Hasyaridho, Nona Jane Onoyi, Bambang Satriawan, and Trends Index Numbers. 2024. "SHARIA LISTED ON THE INDONESIA STOCK EXCHANGE." 14(1): 1–23.
Nufikha, l., Sri, R., & Wahyu, S. (2024). Analysis of Service Implementation in Claim Settlement in Mabrur Plus Sharia Life Insurance Partner Products: A Case Study of PT. AJS Bumiputera Medan Branch. El-Mal: Journal of Islamic Economic & Business Studies 5(3): 1345–56. doi:10.47467/elmal.v5i3.705.
Nur, A., Karima., & Andriati, A. S. (2022). The Influence of Sharia Financial Literacy and the Perception of Sharia Compliance of the People of Kepanjen District, Malang Regency on Interest in Becoming a Customer in Sharia Banks. Journal of Islamic Business and Entrepreneurship 1(2): 57–69. doi:10.33379/jibe.v1i2.1693.
Nurbaiti, Asmuni, Andri, Imsar, & Siti, A. (2023). Behavior Analysis of MSMEs in Indonesia Using Fintech Lending Comparative Study between Sharia Fintech Lending and Conventional Fintech Lending-NC-SA License (Https://Creativecommons.Org/Licenses/by-Nc-Sa/4.0). JPPI (Indonesian Journal of Education Research) 9 (4): 92–99.
Nurrahimah, S., Sitti, R. A., & Rahman, A. M. (2024). Sharia Insurance in Indonesia. Al-fiqh 1(3): 119–29. doi:10.59996/al-fiqh.v1i3.299.
Putra, H. Insurance Management. 2022. "Towards Buying Interest in Microinsurance Products." 9(2): 48–59.
Rahmah, A., & Tri, I. F. R. (2022). Analysis of the Implementation of Waqf Wasiar Sharia Insurance Policies in Review from Islamic Law. Journal of Indonesian Management, 2 (1): 44–48. doi:10.53697/jim.v2i1.447.
Rahmat, D. H., Imsar, Hafiz, A. R. (2023). Sharia Conformity and Profitability Index Approach in Assessing the Performance of Sharia Commercial Banks through the Growth of Third-Party Funds. Exchange: Journal of Economics and Business 2 (3): 241–59.
Rahmi, S., & Nurul, J. (2023). Profitability of Sharia Insurance Companies in Indonesia for the Period of 2017-2022. MEA Scientific Journal (Management, Economics, and Accounting) 7(3): 1305–26.
Risma, H. S., & Khairina, T. Customer Service Strategy in Increasing the Number of Customers at Bank Muamalat KCP Sukaramai. SAUJANA : Journal of Sharia Banking and Sharia Economics 4 (01): 53–70. https://doi.org/10.59636/saujana.v4i01.57.
Saidah, H. S., Imsar., Ahmad, M. B., Syarbaini. (2024). The Effect of Gender Differences and Financial Inclusion on Sharia Insurance Marketing Capabilities in the NU Padangsidempuan Saidah Organization, 7:354–66.
Salwa, K., & Nurul, J. (2022). Analysis of Factors Affecting the Lack of Public Interest in Saving at Bank Sumut Kcp Syariah Kota Baru Marelan. Regress: Journal of Economics & Management, 2 (1): 118–30. https://doi.org/10.57251/reg.v2i1.286.
Sam, F. F. A., Muhammad, N. A., Farah, F. D. H., Syifan, D.S., & Friska, E. S. (2023). Analysis of the Development of Sharia Insurance in Indonesia. Economic Media, 22(2): 59. doi:10.30595/medek.v22i2.13938.
Sri. S., Wahyu, S., Iran, E.P.P . (2016). "The Effect of Third-Party Funds and Financial Ratios on Mudharabah Profit Sharing with Return on Assets as a Moderating Variable in Sharia Commercial Banks for the Period (2017-2021)." 3(3): 1–23.
WahyU, S. (2018). The Role of Third-Party Funds in Micro, Small and Medium Enterprises in Sharia Banks. AT-TAWASSUTH: Journal of Islamic Economics 3(1): 95. doi:10.30821/ajei.v3i1.1698.
Yusrizal, Y., & Fauzi, A. L. (2020). The Potential of Sharia Insurance in North Sumatra. HUMAN FALAH: Journal of Islamic Economic and Business Studies, 7(2). doi:10.30829/hf.v7i2.8851.
Alya, N., Nurwani & Mawaddah, I. (2024). Internal and External Factors Affecting Profitability in Islamic Banks.
Alwi, A., Imsar., Purnama, R. S. (2024). Analysis Of The Application Of Fintech In Msmes In Medan City. 13 (03): 806–20.
Anjani, R. A., & Rahmi, S. (2022). Analysis of Underwriting Implementation in the Sharia Life Insurance Claim Process at PT. AJS Bumiputera KPS. Medan. Masharif Al-Syariah Journal, 7 (30): 943–52. https://journal.um-surabaya.ac.id/index.php/Mas/article/view/12619.
Annisa, Z., Imsar., & Tuti, A. (2025). The Influence Of Customer Satisfaction On Service Quality At Bank Syariah Indonesia Kcp Medan Simpang Limun Annisa, 16 (1).
Antoni, S. (2021). Comparative Analysis of Financial Performance of Sharia Insurance Companies Using Early Warning System Ratios Before and During the Covid-19 Pandemic. JAZ:Unihaz Journal of Accounting, 4(2): 243. doi:10.32663/jaz.v4i2.2448.
Aristyanto, E., Allen, P. P., & Riduwan. (2021). The Influence of Religiosity, Service and Premium Rates on the Satisfaction of Sharia Insurance Customers with Sharia Insurance Interest as an Intervening Variable in Surabaya Branch Sharia Insurance Company.
Aspan, S. S., Imsar, & Atika. (2025). Empirical Analysis of Policy Lapse Behavior Among Life Insurance Customers at PT Prudential Binjai. 8:224–29.
Asyaadatun, N. S., Muhammad, Y., & Aqwa, N. D. The Effect of Inflation, Exchange Rate, and GDP on the Profitability of Islamic Commercial Banks in Indonesia with Financing as an Intervening Variable. Journal of Intellectualita: Islam, Social and Science 12 (2): 145–56. https://doi.org/10.19109/intelektualita.v12i2.19364.
Ayu, D. A. (2022). Non-Muslim Customers' Interest in Buying Sharia Insurance Products (Case Study on Bumiputera Sharia Life Insurance 1912 Medan Branch). Arm Dent J. 33 (1): 1–12.
Ayub, T. Maryam, B., Muhammad,S. (2016). Analysis of Underwriting Methods to Increase Sharia Life Insurance Participants (Case Study of AJB Bumiputera 1912 Medan Branch) 3 (3): 1–23.
Brigham, E. F., & Joel, F. H. (2020). Fundamentals of Financial Management. Book 1, Translated by Novietha Indra Sallama and Febriany Kusumastuti. Jakarta: Salemba Empat.
Basania, N., Ahmad, S., & Wahyu, S. (2024). Analysis of Factors Affecting the Level of Public Knowledge of Sharia Bank Products. Journal of Business Management, 11(2): 999–1015. doi:10.33096/jmb.v11i2.889.
Dewi, S., Rofiatul, H., & Wiwik, F. (2024). Analysis of the Influence of Financial Literacy, Public Perception, Belief, Religiosity and Social Environment on Public Interest in Becoming a Customer of Bank Syariah Indonesia in Jember Regency (BSI) in Jember Regency. The number of people in Jember age p. 05(02): 65–85.
Dita, A., Yusrizal., Wahyu, S. (2016). Analysis of the Financial Literacy Level of Sharia Insurance Agents in PT. Bumiputera 1912 Medan. 3(1): 1–23.
Ernawati. (2020). Marketing Strategy of Sharia Insurance Products at PT. Prudential Life Assurance Yogyakarta City Branch. ADL ISLAMIC ECONOMICS : Journal of Islamic Economic Studies 1(2): 99–112. doi:10.56644/adl.v1i2.14.
Imsar. (2016). The Effect of Return on Asset (Roa), Operating Costs and Operating Income (Bopo), Financing to Deposit Ratio (FDR) and Non-Performing Financing (NPF) on Capital Adequacy Ratio (CAR) in Bank Mega Syariah in 2012-2020, 1–23.
Imsar., Nurhayat., Isnaini, H., & Purnama, R. S. (2024). The Impact of the Halal Industry and Islamic Financial Assets on Indonesia's Economic Growth Using the Vector Autoregression (Var) Approach. EQUITY (Journal of Economics and Finance) 8 (2): 274–87. https://doi.org/10.24034/j25485024.y2024.v8.i2.6299.
Khumaini, S., & Muh., T. H. (2020). Public Perception and Interest in Sharia Insurance in Tangerang Regency. JESI (Indonesian Journal of Sharia Economics) 9(2): 86. doi:10.21927/jesi.2019.9(2).86-93.
Feri, W., Zuhrinal, M. N., & Wahyu, S. (2015). Analysis of Work Productivity of Sharia Marketing Unit Agents at Pt. Asuransi Jiwa Syariah Bumiputera Medan Branch.
Hernita, A. N. D., Fauzi, A. L. (2024). The Influence of the Role of Digitalization and Digital Transformation on Insurance Performance at PT. Chubb Life, 13 (04): 1393–1404.
Muhammad, B. H. M., Tri, I. F. R., & Muhammad, I. H. (2016). Analysis of Insurance Company Performance Measurement with the Concept of Balanced Scorecard (Case Study on PT. BRILife Syariah Gatot Subroto Branch) M. Αγαη, 15(1): 37–48.
Meianti, A., & Imsar. (2016). The Effect Of Good Corporate Governance On Company Value With Financial Performance As A Moderation Variable (Case Study Of Insurance Companies Listed On The Indonesia Stock Exchange) Ardhia 6 (3): 1–23.
Mudrikah, Azizah, & Imsar. (2023). The Effect of Sukuk, Sharia Mutual Funds, and Total Assets of Sharia LKNB on Economic Growth in Indonesia in 2015-2021. Author 7 (2): 1074–83. https://doi.org/10.33395/owner.v7i2.1402.
Nasution, Y. S. (2019). Analysis of Factors Affecting Customer Satisfaction of Education Fund at Pt Asuransi Takaful Keluarga in Medan City. AT-TAWASSUTH: Journal of Islamic Economics 4(2): 395. doi:10.30829/ajei.v4i2.5857.
Nia, A., & Wahyu, S. (2022). SWOT Analysis on PT. Bank Sumut Syariah Sub-Branch Binjai. Journal of Economics, Management, Accounting and Finance 3(2): 681–86. doi:10.53697/emak.v3i2.532.
Nirwansyah, Hasyaridho, Nona Jane Onoyi, Bambang Satriawan, and Trends Index Numbers. 2024. "SHARIA LISTED ON THE INDONESIA STOCK EXCHANGE." 14(1): 1–23.
Nufikha, l., Sri, R., & Wahyu, S. (2024). Analysis of Service Implementation in Claim Settlement in Mabrur Plus Sharia Life Insurance Partner Products: A Case Study of PT. AJS Bumiputera Medan Branch. El-Mal: Journal of Islamic Economic & Business Studies 5(3): 1345–56. doi:10.47467/elmal.v5i3.705.
Nur, A., Karima., & Andriati, A. S. (2022). The Influence of Sharia Financial Literacy and the Perception of Sharia Compliance of the People of Kepanjen District, Malang Regency on Interest in Becoming a Customer in Sharia Banks. Journal of Islamic Business and Entrepreneurship 1(2): 57–69. doi:10.33379/jibe.v1i2.1693.
Nurbaiti, Asmuni, Andri, Imsar, & Siti, A. (2023). Behavior Analysis of MSMEs in Indonesia Using Fintech Lending Comparative Study between Sharia Fintech Lending and Conventional Fintech Lending-NC-SA License (Https://Creativecommons.Org/Licenses/by-Nc-Sa/4.0). JPPI (Indonesian Journal of Education Research) 9 (4): 92–99.
Nurrahimah, S., Sitti, R. A., & Rahman, A. M. (2024). Sharia Insurance in Indonesia. Al-fiqh 1(3): 119–29. doi:10.59996/al-fiqh.v1i3.299.
Putra, H. Insurance Management. 2022. "Towards Buying Interest in Microinsurance Products." 9(2): 48–59.
Rahmah, A., & Tri, I. F. R. (2022). Analysis of the Implementation of Waqf Wasiar Sharia Insurance Policies in Review from Islamic Law. Journal of Indonesian Management, 2 (1): 44–48. doi:10.53697/jim.v2i1.447.
Rahmat, D. H., Imsar, Hafiz, A. R. (2023). Sharia Conformity and Profitability Index Approach in Assessing the Performance of Sharia Commercial Banks through the Growth of Third-Party Funds. Exchange: Journal of Economics and Business 2 (3): 241–59.
Rahmi, S., & Nurul, J. (2023). Profitability of Sharia Insurance Companies in Indonesia for the Period of 2017-2022. MEA Scientific Journal (Management, Economics, and Accounting) 7(3): 1305–26.
Risma, H. S., & Khairina, T. Customer Service Strategy in Increasing the Number of Customers at Bank Muamalat KCP Sukaramai. SAUJANA : Journal of Sharia Banking and Sharia Economics 4 (01): 53–70. https://doi.org/10.59636/saujana.v4i01.57.
Saidah, H. S., Imsar., Ahmad, M. B., Syarbaini. (2024). The Effect of Gender Differences and Financial Inclusion on Sharia Insurance Marketing Capabilities in the NU Padangsidempuan Saidah Organization, 7:354–66.
Salwa, K., & Nurul, J. (2022). Analysis of Factors Affecting the Lack of Public Interest in Saving at Bank Sumut Kcp Syariah Kota Baru Marelan. Regress: Journal of Economics & Management, 2 (1): 118–30. https://doi.org/10.57251/reg.v2i1.286.
Sam, F. F. A., Muhammad, N. A., Farah, F. D. H., Syifan, D.S., & Friska, E. S. (2023). Analysis of the Development of Sharia Insurance in Indonesia. Economic Media, 22(2): 59. doi:10.30595/medek.v22i2.13938.
Sri. S., Wahyu, S., Iran, E.P.P . (2016). "The Effect of Third-Party Funds and Financial Ratios on Mudharabah Profit Sharing with Return on Assets as a Moderating Variable in Sharia Commercial Banks for the Period (2017-2021)." 3(3): 1–23.
WahyU, S. (2018). The Role of Third-Party Funds in Micro, Small and Medium Enterprises in Sharia Banks. AT-TAWASSUTH: Journal of Islamic Economics 3(1): 95. doi:10.30821/ajei.v3i1.1698.
Yusrizal, Y., & Fauzi, A. L. (2020). The Potential of Sharia Insurance in North Sumatra. HUMAN FALAH: Journal of Islamic Economic and Business Studies, 7(2). doi:10.30829/hf.v7i2.8851.