Academic literature on the topic 'Business Conduct of Non-Life Insurance Company'
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Journal articles on the topic "Business Conduct of Non-Life Insurance Company"
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Abiyyu, Ikhwan, Mukhamad Najib, and Alla Asmara. "Bancassurance Business Strategy in Life Insurance: a Case Study One of Joint Venture Company in Indonesia." Jurnal Dinamika Manajemen 11, no. 1 (2020): 103–15. http://dx.doi.org/10.15294/jdm.v11i1.21868.
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This research will conduct bancassurance business strategy for one of life insurance company. Bancassurance business in Indonesia is wide open and needed the right strategy for every company. Life insurance companies in the bancassurance business hold an important roles as a party that providing the product for bank customers. The mapping is carried out for the current business conditions run by the company using BMC tool and will be deepened with a SWOT analysis for each component in BMC. To present a new market, the company need to apply a new strategy that has never been carried out by competitors, with the perspective of BOS, a write off-reduce-increase-create scheme will be implemented to produce BMC alternatives. The result showed three strategic issues for the company, there are product development by collaborating with general incurance, customer segmentation development especially for High Net Worth customers also offering product with foreign currency, and digital competency strengthening in selling and internal process. These three strategies can be used as extra ammunition for the life insurance companies to compete in the bancassurance business.
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Pathmananathan, P. Ravindran, and Khairi Aseh. "Identifying Predictors of Perceived Claims of Insurance Fraudulance." Archives of Business Research 9, no. 6 (2021): 68–76. http://dx.doi.org/10.14738/abr.96.10343.
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Insurance fraud affects nearly every industry in the world, costing companies and others that pay insurance premiums billions of dollars per year. Insurance fraud can be found in almost any area of business where liability insurance is carried and intended to protect consumers; illegal activity can be detected in almost any field of business where liability insurance is carried and intended to protect consumers. The aim of this study is to study the predictor/s of anti-insurance fraud among non-insurer companies in Vietnam. This study was conducted using a questionnaire that was completed by 51employees who are currently working in the 11 non-life insurance company in Vietnam. It can be concluded that there exists a significant relationship between all the three independent variables which are namely claim procedure as well as business operation management and the dependent variable which is anti fraud procedure.
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Albrecht, Thomas. "Interest-Rate Changes and the Value of a Non-life Insurance Company." ASTIN Bulletin 33, no. 02 (2003): 347–64. http://dx.doi.org/10.2143/ast.33.2.503697.
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How does a change in the risk-free interest-rate affect the value of a non-life insurance company or portfolio? Risk managers typically argue that there should be little impact as long as assets and liabilities are properly matched. However, the risk-management perspective focuses on existing assets and liabilities, while neglecting the value of future business potential. This paper argues that interest-rate changes can have a significant impact on the appraisal value of a non-life insurance company, even if assets and liabilities are matched. This impact can be positive as well as negative, depending on the underlying parameters. Relevant parameters include reserving intensity, combined ratio, business growth-rate, asset allocation, risk-capital relative to premium income and the correlation between interest-rate and technical insurance results.
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Albrecht, Thomas. "Interest-Rate Changes and the Value of a Non-life Insurance Company." ASTIN Bulletin 33, no. 2 (2003): 347–64. http://dx.doi.org/10.1017/s0515036100013507.
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How does a change in the risk-free interest-rate affect the value of a non-life insurance company or portfolio? Risk managers typically argue that there should be little impact as long as assets and liabilities are properly matched. However, the risk-management perspective focuses on existing assets and liabilities, while neglecting the value of future business potential. This paper argues that interest-rate changes can have a significant impact on the appraisal value of a non-life insurance company, even if assets and liabilities are matched. This impact can be positive as well as negative, depending on the underlying parameters. Relevant parameters include reserving intensity, combined ratio, business growth-rate, asset allocation, risk-capital relative to premium income and the correlation between interest-rate and technical insurance results.
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Kerr, A., and I. Rogers. "Repackaging the Life Office." Journal of the Staple Inn Actuarial Society 32 (March 1990): 117–44. http://dx.doi.org/10.1017/s2049929900010436.
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Traditionally the interest of actuaries and many other life assurance specialists in the ‘corporate structure’ of life offices has largely been limited to questions surrounding the distinctions between mutual and proprietary companies. More recently, attention has also been paid to composite insurance companies—principally to protect the interests of the long term business policyholders.Developments over the past ten years or so have led many life offices to reappraise their corporate structure. A number of companies have decided to set up a (non-insurance) group holding company, the principal subsidiary of which would be the established life assurance company. This paper will consider some of the pressures which have resulted in these reorganizations, in particular:(a) the impact of Section 16 of the Insurance Companies Act 1982 which restricts insurance companies to only conducting activities in connection with insurance;(b) the various provisions in the Insurance Companies Regulations 1981 which limit the admissibility of particular assets and specify minimum accounting standards which must be adopted when writing down certain fixed assets;(c) the additional flexibility with regard to marketing and the financing of marketing costs which a revised structure will allow;(d) the purchase of companies for sums substantially in excess of their net asset value which may give rise to difficulties in accounting for the ‘goodwill element’ in the purchase price;(e) the potential tax advantages (and, in some cases, disadvantages) which may result from the creation of a non-insurance holding company.
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Sinha, R. K., M. M. Nizamuddin, and Ameer Hassan. "A Statistical Distribution for the Solvency Ratio of Indian Non-life Insurers." SDMIMD Journal of Management 3, no. 2 (2012): 97. http://dx.doi.org/10.18311/sdmimd/2012/2745.
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The Indian Insurance Industry, which was privatized in the year 1999, has witnessed steep growth in terms of its business statistics, such as number of insurance companies, number of policies issued, aggregate premium underwritten, etc. However, many of the insurers are still struggling to break even after a decade of their business operations. The insurance companies are different from other companies, which take longer time to stabilize. The progress of stabilization of the new companies can be measured in many ways. One way is to analyze the level of volatility in the various financial ratios, in addition to their average levels. It may be generally expected that an older company will have lower volatility in its financial ratios than the new ones. This is because of better understating of business and knowledge gained over years of business. This is one of the indicators for judging the stabilization status of the company. The solvency ratio is one of the most important financial ratios for an insurer, which signals the overall health of the company. Accordingly, it is an important figure, which any stakeholder in the industry would like to watch closely. It is generally monitored either on a quarterly or an annual basis depending on the regulatory requirements of the specific country. Insurance companies which may be in a good financial position at a given point of time may fall short of the solvency margin requirement in the next period because of uncertainties and unforeseen factors. Although it is difficult to assess when such a situation for an insurance company could happens, it remains an important task to get best estimates possible with the available data and other factors. The paper attempts to study and analyze the solvency ratio of the non-life insurance companies in India and model it through a statistical distribution. It examines the differentials in its trend and movement in the public and private insurance companies (as public sector companies are very old companies, as compared to the private ones), amongst the private insurers and across the time. It does not find significant difference in the public and private insurers, as the public sector companies too appears to struggle with high level of volatility in their solvency ratios despite their long years of business experience. It is found that the 3- parameter Burr distribution explains our quarterly time-series dataset of solvency ratio appropriately. Given the observations are independently and identically distributed and the Burr distribution explains the dataset appropriately, the paper reveals that the default cases are expected to be more than the actual cases, as observed so far. In the last, the paper suggests further studies on this, which may be taken up. For example, it suggests that a multiple linear regression analysis could be carried out to explain the variation in the solvency ratios through few independent variables and identifies them, which are likely to impact the solvency ratio of non-life insurance companies.
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Muyengwa, Goodwell, Partson Dube, Kimbelry Battle, and Errol Masinga. "An Enterprise Development Initiative: Incubation In The South African Motor Body Repair Sector." Balkan Region Conference on Engineering and Business Education 1, no. 1 (2014): 41–46. http://dx.doi.org/10.2478/cplbu-2014-0009.
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AbstractThe paper investigates motivations, challenges and success factors experienced by an incubator company and panel shop owners during transformation from a non-registered to a registered panel shop. Since 2006 the company has assisted six black owned panel shops in upgrading their businesses through an annual grant of R1.5 million per business. The objective is to develop and empower disadvantaged black owned motor body repairers. The study was conducted through multiple case studies and in-depth interviews with owners and staff of these panel shops including incubator company personnel. The study revealed that noticeable improvements were in better infrastructure, improved management skills, registration with the repair authority, access to work from the insurance industry and better turnover. Challenges faced were in building of trust among panel shop owners and support agencies seconded to their businesses by the incubator company during the incubation process.
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Dina Manolache, Aurora Elena. "Stress and scenario tests in the context of a Romanian non-life insurance company." Proceedings of the International Conference on Business Excellence 13, no. 1 (2019): 149–61. http://dx.doi.org/10.2478/picbe-2019-0014.
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Abstract The main aim of the article is to assess the vulnerabilities and resilience of a Romanian non-life insurance company in the context of different predefined insurance stress scenarios: natural catastrophe scenario and business scenario. The natural catastrophe scenario consists in two distinct scenarios: earthquake and flood, which were carried out separately and aggregated based on three stress factors: increasing by 15% of PML, increasing by 5% of the gross best estimate claim provisions and reinsurer’s incapacity to pay. The business stress scenario was based on four stress parameters: increasing by 3 % of the claims provisions due to the inflation impact, increasing by 10% of the gross earned premium for MTPL due to the legislative changes, increasing by 15% of the claims provisions for MTPL due to the increase of frequency and severity of the losses induced by the exposure growth as a result of the lower premiums and decreasing by 10% of the ceded best estimate. The results of the stress testing shown that the insurer is more sensitive to business scenario compared to natural catastrophe scenario due to the significant exposure on the MTPL line of business. High exposure to earthquake risk is a characteristic for Romania and the stress testing results confirm the vulnerability of the insurer to the earthquake scenario (non-compliance of the solvency capital requirements), due to the biggest impact of the factor: reinsurer’s incapacity to pay. Therefore, the quality of reinsurance is very important for Romanian insurance companies to be able to manage the risks arising from the seismic events and to be compliant with the regulatory solvency capital requirements.
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Kumar, N. Senthil, and K. Selvamani. "LIFE INSURANCE INDUSTRY IN INDIA-AN OVERVIEW." International Journal of Research -GRANTHAALAYAH 4, no. 10(SE) (2016): 30–36. http://dx.doi.org/10.29121/granthaalayah.v4.i10(se).2016.2466.
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The first insurer of life was the marine insurance underwriters who started issuing life insurance policies on the life of master and crew of the ship, and the merchants. The first insurance policy was issued on 18th June 1583,on the life of WILLIAM GIBBONS for the period of 12 months. The oriental life insurance company is the first insurance companies in India which is started on 1818 by Europeans at Kolkata. The Indian Life Assurance Companies Act, 1912 was the first statutory measure to regulate life business. In 1928, the Indian Insurance Companies Act was enacted to enable the Government to collect statistical information about both life and non-life business transacted in India by Indian and foreign insurers including provident insurance societies. In 1938, with a view to protecting the interest of the Insurance public, the earlier legislation was consolidated and amended by the Insurance Act, 1938 with comprehensive provisions for effective control over the activities of insurers. In 1956 the life insurance companies was nationalized. The LIC absorbed 154 Indian, 16 non-Indian insurers as also 75 provident societies—245 Indian and foreign insurers in all. The LIC had monopoly till the late 90s when the Insurance sector was reopened to the private sector.
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Olszewska, Dorota, and Jadwiga Synowiec. "INNOVATIVE POTENCIAL IN INSURANCE – THE INDIVIDUAL AND INSTITUTIONAL CUSTOMERS EVALUATION." Zeszyty Naukowe Wyższej Szkoły Humanitas Zarządzanie 19, no. 1 (2018): 139–50. http://dx.doi.org/10.5604/01.3001.0012.0523.
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Dynamically changing insurance market and the growing expectations of customers and business partners, intensified competition cause the need of constant introduction or improvement of modern solutions. It is highly connected to innovations. It should be stressed that the transformation of Polish economy and the process of emerging of more and more new private companies caused, on the one hand the reduction of government role in economy and on the other hand it forced companies to obey free market rules, which characterizes the adjusting to environment and the growing share in the market. For the positive creation of corporate image the open attitude of managers and directors becomes extremely important. They are aware of the importance of innovation in company life. This novelty is being spotted by the surroundings of the company, and specifically by its business partners. The positive assessment of innovation is often the starting point of making new business relations. The negative assessment can make them difficult. A good company image is nowadays one of the most basic company aims, and the condition of business success. The creation of good company image by emphasizing the high level of innovation among potential customers (insurance agents, brokers) became one of the basic tasks for insurance companies, because the growth of the company depends on customers. Insurers being aware of the importance of innovation are forced to create such systems, which allows the introduction of new technologies in the process of selling new policies in every distribution channel. The aim of this article is to present the essence of the innovation on the insurance market and to show its significance in the customers appreciation. This article consists of two parts. The first part is theoretical and presents the characteristic of insurance market innovation and its significance in the development of branch. The second part of this publication contains empirical material such as data taken from survey studies conducted in 2016, in the field of innovation evaluation seen from main insurance participants perspective (individual and institutional customers). The research was conducted in Wielkopolska area on the sample of 180 individual and 151 institutional customers (MSP).
Dissertations / Theses on the topic "Business Conduct of Non-Life Insurance Company"
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Huang, Yun-Wen, and 黃韻紋. "The Study of Business Strategy of Commercial Health Insurance in Non-Life Insurance Industry Case Study : A Non-Life Insurance Company." Thesis, 2010. http://ndltd.ncl.edu.tw/handle/87905636560451586433.
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碩士<br>淡江大學<br>保險學系保險經營碩士在職專班<br>98<br>Non-life insurance companies start to launch commercial health insurance products in 2007, since Article 138 of Insurance Law has been approved by Legislation Yen. This essay not only aim to address the tough situation of non-life insurance industry when they faced the competition from life insurance but also cover the experiences of non-life industry on diversified health products development, customer need fulfillment, underwriting /claim skill improvement, marketing strategy and performance management in the new segment.
The main contains of this thesis include:
1.To provide marketing strategy and products handling supervisory following deeply research in the external market analysis on the segments of politics, economics, society and technology as well as study the internal challenges including rival competitions, products pricing, underwriting and claim practices.
2.To focus the potential targets throughout a comprehensive study in managing performance, marketing strategy and risk management compared to life-insurance industry.
3.To recommend the planning procedures and guidelines after study the managing performance and experience from drive planning, products developing, channel placing and underwriting / claim performance appraising.
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KoLien and 連克. "From Agency to Insurance Company: Taiwanese Merchants in the Business of Non-life Insurance, 1862-1947." Thesis, 2014. http://ndltd.ncl.edu.tw/handle/93705564714181100863.
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碩士<br>國立成功大學<br>歷史學系<br>102<br>Insurance, an industry attaching to western trade, was introduced to East Asia in the wake of the arriving of western merchants. Following the 1860s when Taiwan opened up ports to western trade, foreign firms came to Taiwan as agencies for insurance companies. The early stage of the development of insurance industry in Taiwan focused mainly on Non-life Insurance, closely related to trade and shipping; nonetheless, the past researches affiliated to the history of insurance have highlighted more on life insurance. In the studies pertaining to the history of economics and of the sea transportation, the Non-life Insurance, tightly related to the subjects, has rarely been mentioned. Nevertheless, that Chinese merchants of trading ports played a pivotal role in doing business with the foreign firms has been found in former studies related to compradors; this can also be displayed from the perspective of industry of Non-life Insurance.
Accordingly, this study puts a spotlight on the Taiwanese merchants who operated Non-life Insurance after the late Qing dynasty when Taiwan ports opened to western trade. It attempts to point out that, during the late Qing dynasty, there were virtually myriads of Taiwanese merchants partaking in the operating of foreign-capital insurance, which has hardly been mentioned in the studies of the history of insurance. On the one hand, Taiwanese merchants, collaborating with foreign firms, served as the compradors for them to partake in the operation of Non-life Insurance when they tackled the import and export goods for foreign firms. On the other hand, Taiwanese traditional trading companys had become the agencies for Chinese insurance companies. This has exhibited the multi-faceted features of Taiwanese merchants in commercial activities.
The flexibility of Taiwanese merchants on the running of Non-life Insurance not only made it possible for Taiwanese merchants to cooperate with foreign firms, but also made it feasible for them to collaborate with Japanese merchants during Japanese colonial rule. Taiwanese merchants established insurance companies with the joint venture between Taiwanese companies and Japanese companies. It is seen that 1900 Taiwan Livestock Ins. Co.（臺灣家畜保險株式會社） and 1920 Taisei Fire ＆ Marine Ins. Co.（大成火災海上保險株式會社） were derived from Non-life Insurance, running from the late Qing dynasty to the period of Japanese rule. Following the political, judicial, and industrial transitions, Taiwanese merchants, able to keep abreast of the changing events of the time in operating the Non-life Insurance, was highly flexible and adaptable. This proved the tenacity of Taiwanese capital.
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Chen, Hsuan-Tso, and 陳炫佐. "The study on the business model of non-life insurance company joining the conglomerate." Thesis, 2019. http://ndltd.ncl.edu.tw/handle/q65jm2.
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碩士<br>國立政治大學<br>經營管理碩士學程(EMBA)<br>108<br>This study analyzes the current situation of the non-life insurance industry, discusses the business model of H non-life insurance company after joining conglomerate, finds out the key advantages of H non-life insurance company and proposes suggestions for its future. Interviews were conducted with managers of all levels of H non-life insurance company. Literature analysis and semi-structured interviews were used for data collection and integration. After analysis and summary, the current business model of H non-life insurance company is based on the car dealer distribution channel of the conglomerate, which generates stable car insurance business and drives the growth of other insurance types. In terms of business strategy, it is necessary to grasp the growth period of the conglomerate resources and develop non-car insurance business to create sustainable business conditions. Finally, the operation of industrial insurance is highly dependent on people. Finding professionals with competence and enthusiasm to build solid customer relationship can provide good services that exceed customers’ expectations. In the result, it will add value to the conglomerate, generate brand synergies, and achieves sustainable growth.
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Tsai, Tsung-Liang, and 蔡宗梁. "Analysis on the Marketing Strategy of Business Insurance of Taiwanese Non-Life Insurance Industry--A Case Study of F Company." Thesis, 2008. http://ndltd.ncl.edu.tw/handle/44883671661210866524.
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碩士<br>元智大學<br>管理研究所<br>96<br>Facing a highly competitive environment after the full deregulation of insurance policy in 1994, a non-life insurance company must measure the comparative performance of the entire insurance industry to understand its own strengths and weaknesses for formulating a competition strategy.
This study adopts the external macro-environment analysis, competitive industrial environment analysis (five-forces approach), internal analysis, competitor analysis and critical success factors analysis. In addition, the SWOT analysis is conducted for the case study to identify the opportunities and threats in the external environment it may face in the course of its business operation with the company’s weaknesses and its strengths. This article also introduces the matching process facilitated by the construction of a Weihrich’s SWOT matrix to prescribe the feasible marketing strategies to be taken in response.
The research results indicate that the key success factors: organizational innovation, differentiation strategy, overall cost strategy, focus strategy and customer relationship management do have significant influence on business insurance performance. In addition, the research results indicate five main implications as follows:
1. Non-life insurance companies should offer more diversified products and innovative services in order to fulfill the needs of their customers.
2. Non-life insurance companies should make the best use of their customer relationship management systems to develop convenient electronic transaction processing platforms in order to create a win-win situation for their customers and themselves.
3. Non-life insurance companies should improve the quality of their customer service staff in order to provide better services to their customers, and in turn earn the trust of the customers.
4. Non-life insurance companies should equip themselves with VIP claim services centers that provide 24-hour, timeless services to their most important customers in order to better fulfill the needs of these customers.
5. To establish and develop the core brand value of a non-life insurance company through understanding its overall service quality, product feature, corporate image and customer brand loyalty.
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LAI, WENT-TANG, and 賴文堂. "A Business Performance Analysis of Financial Channels–Exemplified by Bank Channels of M Non-Life Insurance Company." Thesis, 2009. http://ndltd.ncl.edu.tw/handle/45425533829054880205.
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碩士<br>逢甲大學<br>經營管理碩士在職專班<br>97<br>As the market for insurance commodities through door-to-door sales is ‘saturated’, insurance companies now resort to bank channeled sales as bank employees are professional in financing, have access to a large number of clients, and are well trusted. Moreover, banks’ accessibility and prevalent internet services also make it easier for customers to select products, channels, prices, and promotional sales strategies that suit their needs. This new bank-mediated insurance market is now regarded as an important means to ensure flourishing development in the insurance sector.
In this research, information of financial/insurance market business environments, interviews, newspaper/magazine/journal reports etc., were collected and verified through literature references, theoretic basis, and in-depth research and discussion with the interviewees. The data collected (3 months) was then complied, analyzed, classified, and compared with related researches to derive at the following research conclusions:
1. Banks’ inclusion of insurance sales in performance evaluation will attribute to higher performance. In other words, a higher Key Performance Indication(KPI) ratio will mean better performance.
2. Bank channels provide one-stop services that ensure customers’ loyalty, customized insurance commodities/packages, and marginal revenues for banks.
3. Bank employees’ insurance commodity referral to clients (targets) will attribute to higher performance, reduced risks on the part of the insurance company as the targets have been screened, and greater business opportunities.
4. Insurance companies collaborate with banks in integrating resources and formulating incentives/promotional sales activities. Exclusive commodities are released annually to increase banks’ marginal revenues and insurance companies’ profits.
5. Insurance salespersons’ communication skill, sense of humor, and talents developed to help them approach customers (e.g. wine tasting, Qi Gong (Induced Psychosis), and ball sports) are preferable in addition to their sales skills, professionalism, enthusiasm, and high-quality services.
6. Insurance companies’ image, credit standing, credit rating, and technological administrative processing systems are prerequisites for insurance agents.
7. Integrated performance bonuses and promotional activities combined with banks’ incentive/penalty system will achieve instant results.
8. Supervisors’ visitations and mutual bonding will help them understand the commodity sales results and take prompt actions when problems arise. Performance will fall short of expectations without follow-up packages and quality services.
Keywords: financial channeling、rate liberation、promotional sales strategies、 business performance
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Chao, Mao-sung, and 趙茂松. "A Study On Oversea Business Strategy In Taiwan Non-Life Insurance Industry- A Case of M Company." Thesis, 2010. http://ndltd.ncl.edu.tw/handle/61000807414432572325.
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碩士<br>逢甲大學<br>經營管理碩士在職專班<br>98<br>After 1992, Taiwan non-life insurance companies extend their insurance service to coordinate the Taiwan business and the foreign companies they set up the office in Southeast Asia and China as well. Taiwan non-life insurance companies become international enterprise by operating “reinsurance” function and enhancing management domain and competitiveness, but insurance laws and the insurance investment limit are different in every country, Taiwan non-life insurance is still the beginning stage in the international market
In this study, I will discuss the operation of non-life insurance companies in overseas and China insurance market. This analysis is the reference of the future development of Taiwan industry. It includes economic growth, local insurance market, laws of foreign insurance company and Taiwanese investors’ condition.
In order to study “Multination Enterprise & Overseas Market Entry Model”, I take Mitsui Sumitomo Insurance Group as the model to analyze how the non-life Japanese insurance company expand their international business and achieve their global perspective.
Taiwan’s non-life insurance companies shall utilize their advantage and resource to makes the management strategy in different countries. At this stage, the future of Taiwan’s non-life insurance should center on “market” instead of “cost”.
Key word: Reinsurance, Strategic alliances, Multination enterprise, Market entry model, Global strategy.
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Tang, Jasy, and 譚貞文. "On the Study of Correlation between business performanceand organization’s cultural risk perception arising fromsalespersons of Taiwan’s non-life insurance companies.-A case study on a Taiwan’s property insurance company-." Thesis, 2005. http://ndltd.ncl.edu.tw/handle/87w8xd.
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碩士<br>銘傳大學<br>經濟學系碩士在職專班<br>93<br>A significant profit source of property insurance company
comes from business performance of salespersons.
Furthermore, organization’s cultural risk will influence of
people’s risk perception. So, the relationship between
business performance of salespersons and their
organization’s cultural risk perception is noteworthy.
This study investigates the correlation between them. In
terms of a survey questionnaire method, some findings are
as follows:
The results revealed that two dimensions, including the
delay or immediacy of consequence and understanding,
will influence organization’s cultural risk perception of
salespersons. Furthermore, factors of sex, age, and
working experience significantly impact on the correlation
between business performance and organization’s cultural
risk perception of salespersons. Finally, factors of age,
education, working experience, and marriage will make
the difference of perception coming from salespersons.
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Weng, Chi-Jung, and 翁啟容. "An Investigation of the Relationship between the Form of the Management Control System , Financial Performance and Business Performance on Non-life Insurance Industry under Financial and Non-financial Holding Company." Thesis, 2011. http://ndltd.ncl.edu.tw/handle/38956190584223639118.
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碩士<br>國立中山大學<br>企業管理學系研究所<br>100<br>This study focuses on what impact the Management Control System of Non-life Insurance Industry under Financial and Non-financial Holding Company has on a company’s financial and business performance. (Management Control System, hereinafter referred to as MCS) . The scope of the MCS is not conclusive, it consists of management accounting and other control methods. This study adopts Simons’s Diagnostic Control Systems and Interactive Control Systems as a yardstick, and the indicators of the financial and business performance are collected from Taiwan Insurance Institute.
This study is based on the exploratory study --- in-depth interviews in case studies. In order to understand what types of the MCS a Non-life Insurance Industry company choices , and each respondent’s feedback on the MCS , the study is followed by semi-structured interviews.
By the comparison of multiple-case designs and a more in-depth discussion , this study has found that:
(1) There is no special relationship of the MCS selection between Non-life Insurance Industry under Financial and Non-financial Holding Company .
(2) Both Non-life Insurance Industry under Financial and Non-financial Holding Company have Strategic Alliances in marketing .
(3) Only Non-life Insurance Industry under Financial Holding Company could take the advantage of the joint-marketing in the distribution channel of a bank.
(4) Non-life Insurance Industry under Non-financial Holding Company tends to have better business performance when using Interactive Control Systems .
Therefore, the study suggests that when Non-life Insurance Industry under Non-financial Holding Company tries to design the control system of an organization, it is better to use the Interactive Control System to help the performance of a company.
Book chapters on the topic "Business Conduct of Non-Life Insurance Company"
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Weems, Robert E. "Business Titan." In The Merchant Prince of Black Chicago. University of Illinois Press, 2020. http://dx.doi.org/10.5622/illinois/9780252043062.003.0005.
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This chapter examines how Anthony Overton dramatically diversified his financial interests during the 1920s. In 1922, Anthony Overton assumed the presidency of Chicago’s Douglass National Bank (the second black-owned bank to receive a national charter). Two years later, Overton started the Chicago-based Victory Life Insurance Company. In 1927, Victory Life became the only black-owned insurance company granted the right to conduct business in New York State. Following this business coup, Overton, in some circles, became regarded as “the merchant prince of his race.” To further enhance his growing status as a business magnate during the 1920s, Overton built two major commercial structures in the heart of black Chicago’s commercial district (the Overton Building and the Chicago Bee Building).
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du Toit, Adeline, and Carina Human. "Formulating a Knowledge Management Strategy." In Service Science Research, Strategy and Innovation. IGI Global, 2012. http://dx.doi.org/10.4018/978-1-4666-0077-5.ch027.
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This chapter presents a systematic approach that can be followed to formulate a Knowledge Management (KM) strategy. The management of knowledge should be integrated into the other management activities in the enterprise and linked to the business strategy. An empirical survey was conducted to investigate the current situation with regard to KM activities in a life-insurance company and to determine the relationship between the KM activities and the business strategy. The results indicated that there is a clear understanding of the importance of KM and steps are recommended to formulate a KM strategy for the enterprise.
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Verhoef, Grietjie. "Setting down the footprint: from war to war, 1919–1945." In The Power of Your Life. Oxford University Press, 2018. http://dx.doi.org/10.1093/oso/9780198817758.003.0002.
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The first quarter of a century of Sanlam in the long-term insurance business was characterized by strong centralized bureaucratic management, an unmistakeably Afrikaner cultural hub at Head Office, and attention to the professional training of agents. The company growth was solid and slowly gained market share through innovative products and attention to service. A close connection between Afrikaner cultural and political leadership was prevalent throughout this period. Sanlam used this nationalist allegiance to grow its business, and to develop a presence for Afrikaners outside of insurance in other sectors of the economy. By the end of World War II non-exclusive production positioned the company to benefit from strong economic growth after 1945.
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Verhoef, Grietjie. "Managing change: diversification and transformation, 1993–2003." In The Power of Your Life. Oxford University Press, 2018. http://dx.doi.org/10.1093/oso/9780198817758.003.0005.
Full textAbstract:
As global insurance markets experienced a shift out of life assurance into new wealth products, Sanlam faced the same trend. Demutualization required more free capital than commanded by Sanlam, leading to an extended capital building programme, which ultimately fed into demutualization. Sanlam focused business operations on restructured business units, new distribution channels, and non-traditional markets. Serious attempts at bancassurance absorbed attention under severe market competition. Internationalization strategies failed to deliver to expectations. After listing in 1998, operational, management, and functional transformation occurred in a new South Africa. Statutory sanctioned empowerment policies chartered future company strategies. Implementation was delayed by the death of the CEO and an inexperienced successor. The company remained hamstrung by too-large exposures to a handful of big investments.
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Verhoef, Grietjie. "Affirming the roots." In The Power of Your Life. Oxford University Press, 2018. http://dx.doi.org/10.1093/oso/9780198817758.003.0006.
Full textAbstract:
Sanlam returned to insurance and the delivery of value-adding financial services by disposing of a large investment in a banking company, thereby freeing up its capital for financial services diversification at last. Aggressive pruning of non-performing operations in the domestic and international markets, business operational restructuring, and a new management philosophy put Sanlam on the road to improved efficiency. With a focus of value-adding financial services to the entry-level market, as well as established markets in the UK, Sanlam improved return on equity employed, and positioned itself for global expansion. From an emerging market the path dependence of empowerment strategies were reinforced in new markets. From a strong strategy directing central management platform, optimal operational authority at the level of transacting positioned the company as a global player.
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Verhoef, Grietjie. "Searching the soul." In The Power of Your Life. Oxford University Press, 2018. http://dx.doi.org/10.1093/oso/9780198817758.003.0004.
Full textAbstract:
Growing divisions along political lines, and personal differences in management on different levels of Sanlam operations, landed the life office to engage in more non-life investment restructuring than actual insurance business. Sanlam addressed complex inter-personal Afrikaner business contestation, causing negative publicity to the company. Building down its strategic investments began in 1985 and was almost completed by 1996. Unexpected management changes and seriously underperforming strategic investments curtailed the life office’s market position. The transformation of Sanlam in response to the domestic political changes, and re-entry into the international markets, led to organizational, managerial, and business adjustments. Strategic refocusing followed, but diversification into financial services remained compromised by illiquidity. Sanlam did the first Black Economic Empowerment transaction and commenced a capital building process with the aim of a fundamental functional overhaul, following the international trend to demutualize.
Conference papers on the topic "Business Conduct of Non-Life Insurance Company"
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Stepchenko, Darja, and Irina Voronova. "Investigation Of Insurance Company Financial Stability: Case Of Baltic Non-Life Insurance Market." In The 8th International Scientific Conference "Business and Management 2014". Vilnius Gediminas Technical University Publishing House Technika, 2014. http://dx.doi.org/10.3846/bm.2014.042.
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Zariņa, Ilze, Irina Voronova, and Gaida Pettere. "Internal model for insurers: possibilities and issues." In Contemporary Issues in Business, Management and Economics Engineering. Vilnius Gediminas Technical University, 2019. http://dx.doi.org/10.3846/cibmee.2019.026.
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Purpose – solvency II framework regulates how much capital the European Union insurance companies must hold. The amount of necessary capital can be calculated using a standard formula or an internal model. On the basis of the review of other authors’ empirical research, the present paper aim at identifying factors that influence necessary capital and propos-ing necessary areas of improvement for the methodology of an internal capital model. Research methodology – to conduct the paper, the authors have used the extended literature review. Analytical methods and comparative methods have been used for the Baltic non-life insurance market analysis. Findings – the Baltic market does not use an internal model even for a major risk – premium and reserve risks. A review of the current literature findings shows that the main weakness of the standard formula is risk aggregation. Research limitations – identified factors apply to non-life insurance companies under the Solvency II framework with a focus on reserve risk. Practical implications – factors are identified that should be implemented in the internal model methodology. The paper will help avoid using internal models as only a modern risk management tool and improve risk profile accuracy. Originality/Value – improvements of the internal model methodology are proposed based on a literature review. The au-thors have identified the main directions, issues and improvement possibilities for reaching modern risk management.