Dissertations / Theses on the topic 'Insurance companies – Botswana – Management'

This thesis addresses the need to reduce inefficiencies in management of insurance company risk capital. The laxity in managing the cost of capital is a result of dysfunctional property/casualty risk classification and capital accumulation practices in the insurance industry. We reclassify risk based on both peril and financial functional features, in order to capture all the facets of risk affecting a firm and ultimately to achieve optimal capital allocation. With the purpose of reducing inefficiencies in mind, we explore and isolate the impact of regulation on insurance company profitability. We use barrier option pricing models to mimic the impact of solvency requirements on firm-wide risk. This methodology of measuring risk is better than plain vanilla option pricing models, in that, through the option to an early default, we are able to capture the economic significance of financial distress, and allocate firm-wide risk capital. The firm-wide risk is incidentally used to empirically test the impact of risk on the cost of carry, the quality of operational profitability and forward asset commitment per unit of liabilities. Our empirical test confirms a strong relationship between firm-level risk, and the cost of carry, return on policyholders' surplus and the cost of capital per contract underwritten. The results are better than previous results obtained using plain vanilla option-pricing models and reveal the importance of incorporating solvency requirements in defining the economic significance of insolvency. The results also points to the importance of advised risk classification procedures to the whole process of integrated risk measurement and financing, which we explore in this study.

This thesis reviews some fundamental risk measurement and management concepts that insurance companies will face in the following years. The first chapter evaluates the theoretical and practical framework of the different approaches with respect to the determination of regulatory capital held by insurance companies. A critical assessment and substantial interpretation of these approaches is performed. Moreover, a number of new approaches is brought forward in order to add a more thorough and clear way of evaluating the level of the regulatory capital. Then, we provide evidence of the presence of the underwriting cycle in the UK. The underwriting cycle has been identified in a number of OECD and non-OECD countries and highlights the different stages and maturity of the insurance market. A number of reasons for the presence of this cycle is presented and evaluated in contrast with the reasons behind the underwriting cycle in other countries. The level of profitability of the insurance companies is used to determine the presence of the cycle. In the third chapter, profitability and cost of capital are connected with the credit rating assigned by credit agencies to insurance companies. The credit risk that insurance companies face is explained by the use of financial ratios that explicitly explain the particular credit rating. The credit rating is implicitly connected with the cost of capital, which in turn is explained by the level of the credit spread between the Treasury Yield and European bonds. Finally, securitisation as an alternative method of minimizing credit and market risk is analyzed. Different structures of securitised deals are presented and evaluated. The benefits of securitisation are presented in a systematic way.

This thesis studies the change process of risk management practices associated with the implementation of Enterprise Risk Management (ERM) and the extent to which it can lead to changes in capital allocation practices. The study develops a theoretical framework to study risk management changes, which draws on structuration theory (Giddens, 1979, 1984) and institutional theory, particularly the institutional framework of Burns and Scapens (2000), as well as new institutional sociology theory. A two-stage empirical study was undertaken in non-life insurance companies. The first stage was a field study of 10 listed non-life insurance companies, while the second stage was a case study of a large non-life insurance company. Multiple data collection methods were used including semi-structured interviews, documentary evidence, annual reports, and publicly available data. Findings show internal, coercive, and normative pressures have mainly driven the ERM adoption decision. The literature supports the impact of coercive, mimetic, and normative pressures on the trend toward ERM in financial industries. However, the study finds that internal pressures related to achieving the company's objectives are either equal to or surpass the external pressures. The study also provides empirical evidence of the changes in risk management practices, which include capital allocation change process associated with ERM implementation. Effective capital allocation requires the incorporation of ERM elements in the whole process of allocating capital. Furthermore, new capital allocation routines and institutions are produced. The study shows that the risk-based capital allocation method is intra- and extra-institutionalised at the company level. The main contribution of this thesis is to identify the nature of ERM adoption and implementation in insurance companies. More specifically, this study provides a better understanding of the institutional forces driving ERM adoption and offers empirical evidence on ERM implementation and the change in risk management practices (routines) within nonlife insurance companies. Moreover, this study avoids the limitations of previous research that was based on surveys, and it does so by conducting an exploratory field study and explanatory case study to address the changes in risk management practices. Practices and process need to be located in their institutional context and hence cannot be reflected in surveys.

Thesis (MBA)--Stellenbosch University, 2001.
A database on South African industrial companies listed on the Johannesburg Stock Exchange called FIN01 was created by the Graduate School of Business (USB), University of Stellenbosch, to capture the various companies' financial data from 1970 to date. FIN01 database is being updated to capture financial data of listed companies from other African countries. Against the background, the purpose of the study project was to update the University database (FIN01) by creating a database for listed Botswana Stock Exchange companies. The creation of the database required gathering and analysis of information of the various Botswana companies. Before the information from the Annual Reports could be captured into the main database, it was captured into Excel created spreadsheets. This information was captured under the respective workbooks as created for the cash flow statements, income statements and balance sheet items. To conform to the requirements of the FIN 01 database, the Botswana companies were allocated codes. The summarised data was then transferred to the main USB database (FIN01). A thorough analysis on performance of the various companies was then carried out. This was done through trend analysis, common size analysis and ratio analysis. Problems were encountered during the process of data capturing and analysis. These included unavailability of Annual Reports, various different reporting formats and the standard Excel spreadsheets provided. The various companies' inconsistency in reporting was further reflected in the non-reporting of turnover and share prices by most of the listed companies. However, the creation and incorporation of the listed Botswana companies was a success. It is recommended that the project be continued as an ongoing process. The information should be updated on a yearly basis. Companies should be encouraged to continue sending the Annual Reports to the University. The companies should in return get regular feedback on key performance indicators as reflected in the database.

The study aimed to investigate and critically analyze claims management, an ethical issue in insurance companies in Nigeria, to find out if these insurance companies recognize it to be an ethical issue and also to find out how they handle insured’s claims. A qualitative research method was used in carrying out this study; data was sourced through interviews and by secondary data using literatures from books, journals, articles, and electronic websites. The researchers used purposive sampling to select some top insurance companies in Nigeria; in these insurance companies basically personnel working in the claims department were interviewed, also sales agents from two of these insurance companies were interviewed. Data was sourced from two insurance broking firms in Nigeria by interviewing their top personnel, and also some of the insuring public with and without insurance policies was interviewed. The analytical strategy adopted in this research work was to rely on theoretical propositions. This study made use of Jones (1991) moral intensity model. Based on the analysis of data collected during the interview, the study revealed that insurance personnel in claims administration who take decision on insured’ claims in Nigeria recognize that there is a moral dilemma in their act and they discharge this responsibility professionally and ethically sticking to the rules of the business. Also the characteristics that constitute moral intensity model; proximity, social context, probability of effect, concentration of effect and magnitude of consequence offered by Jones (1991) influence the moral decision making process and moral behavior of claims personnel in Nigeria insurance companies. But due to some challenges faced by these personnel in discharging their duty and some lapses from their side and the insured’s there have always been complaint on claims. However they acknowledge that no one is perfect therefore they are open to getting feedbacks from their clients on the way they feel about their claims which they look into and make necessary amendments where needed. This study concluded with proposition for future researchers to look into how the challenges encountered by personnel managing insured’s’ claims in insurance companies in Nigeria can be dealt with and to find out how insurance companies in Nigeria can gain the awareness of the insuring public and make them understand the terms and conditions of insurance service.
kemi987@yahoo.co.uk, +46760825772

The study aimed to investigate and critically analyze claims management, an ethical issue in insurance companies in Nigeria, to find out if these insurance companies recognize it to be an ethical issue and also to find out how they handle insured’s claims. A qualitative research method was used in carrying out this study; data was sourced through interviews and by secondary data using literatures from books, journals, articles, and electronic websites. The researchers used purposive sampling to select some top insurance companies in Nigeria; in these insurance companies basically personnel working in the claims department were interviewed, also sales agents from two of these insurance companies were interviewed. Data was sourced from two insurance broking firms in Nigeria by interviewing their top personnel, and also some of the insuring public with and without insurance policies was interviewed. The analytical strategy adopted in this research work was to rely on theoretical propositions. This study made use of Jones (1991) moral intensity model. Based on the analysis of data collected during the interview, the study revealed that insurance personnel in claims administration who take decision on insured’ claims in Nigeria recognize that there is a moral dilemma in their act and they discharge this responsibility professionally and ethically sticking to the rules of the business. Also the characteristics that constitute moral intensity model; proximity, social context, probability of effect, concentration of effect and magnitude of consequence offered by Jones (1991) influence the moral decision making process and moral behavior of claims personnel in Nigeria insurance companies. But due to some challenges faced by these personnel in discharging their duty and some lapses from their side and the insured’s there have always been complaint on claims. However they acknowledge that no one is perfect therefore they are open to getting feedbacks from their clients on the way they feel about their claims which they look into and make necessary amendments where needed. This study concluded with proposition for future researchers to look into how the challenges encountered by personnel managing insured’s’ claims in insurance companies in Nigeria can be dealt with and to find out how insurance companies in Nigeria can gain the awareness of the insuring public and make them understand the terms and conditions of insurance service.

Thesis (MComm)--Stellenbosch University, 2003.
ENGLISH ABSTRACT: Much research has been done on risk coverage within the field of the traditional insurance market, but the concept of alternative risk transfer is fairly new to the world of risk management. The need for more innovative, multi-faceted approaches to meet possible losses, together with the growing resistance to the cross-subsidisation inherent in traditional insurance, has initiated the development of the captive insurance industry as an alternative risk transfer mechanism. The objective of this research was to study the application of captive insurance as a risk management mechanism for managers. The objective comprised a modelling approach for managers to handle the strategic implications of establishing and operating a captive insurer. The tasks that were required for this assignment were as follows: • The completion of a literature study of the basic theory available on captive insurance as an internal risk financing mechanism for management; • The collection of relevant empirical information on the subject by means of questionnaires, which had to be based on the literature study; • The critical analysis of the collected data; and • The development of a decision-making model based on the outcome of the available information, that could provide a practical guideline for management to decide on the establishment and operation of a captive insurer. Twenty-five questionnaires were sent out during February 2003 to cover all the registered onshore and cell captive insurance companies in South Africa. Offshore insurance companies could not be included in this study due to article 33 of the Reserve Bank's Act no. 90 of 1989 regarding confidential information. Of the 25 captive insurance companies, 21 companies completed the questionnaires, and three respondents declared that they did not perform captive insurance activities anymore. A response rate of over 95 per cent is therefore achieved. The information obtained from the questionnaires was summarised on a SPSS spreadsheet and subjected to a statistical analysis to form the bases for the empirical investigation. The results of the empirical study for onshore and cell captive insurers leads to conclusions regarding the importance of the objectives needed for establishing and operating the captive Insurer. The three most importantfactors which should determine the decision of a holding company to establish an onshore captive insurer were identified as the financial commitment of the holding company, the spreading of the risks of the holding company, and the retention capacity of the holding company. The three most importantfactors which should determine the decision of a holding company to operate an onshore captive insurer are the retention capacity of the holding company, the financial commitment of the holding company, and the management commitment of the holding company. The three most importantfactors which should determine the decision of a holding company to establish a cell captive insurer were identified as the spreading of the risks of the holding company, the retention capacity of the holding company, and the financial commitment of the holding company. The three most importantfactors which should determine the decision of a holding company to operate a cell captive insurer are the financial commitment of the holding company, the spreading of the risks of the holding company, and the management commitment of the holding company. A decision-making model for both onshore and cell captive insurers was developed as a tool for risk managers when deciding on the establishment and operation of a captive insurer as part of their risk management programme. The resulting conclusions and recommendations of this assignment are largely based on the personal viewpoints of the captive insurers active in the South African captive insurance industry. It is therefore recommended that future research also includes the role and views of the holding companies.
AFRIKAANSE OPSOMMING: Heelwat navorsing is alreeds oor die tradisionele versekeringsmark ten opsigte van risikodekking gedoen, maar die konsep van alternatiewe risiko-oordrag is nog redelik nuut in die vakgebied van die risikobestuur. Die behoefte aan meer innoverende multivlak benaderinge om moontlike verliese te beperk, tesame met die toenemende weerstand teen kruissubsidiëring inherent aan tradisionele versekering, het tot die ontwikkeling van die gebonde (gevange) versekeringsbedryf as 'n wyse van alternatiewe risiko-oordrag gelei. Die doelstelling van hierdie navorsing was om die toepaslikheid van gebonde versekeraars as 'n risikobestuursmeganisme vir bestuurders te bestudeer. Die doelstelling omsluit 'n modelboubenadering vir bestuurders om die strategiese implikasies van die stigting en bedryf van 'n gebonde versekeraar te beheer. Die voortvloeiende take van die werkstuk is soos volg: • Die voltooiing van 'n literatuurstudie van die basiese teorie wat oor gebonde versekering, as 'n wyse van interne risikofinansiering vir bestuur beskikbaar is; • Die versameling van relevante empiriese inligting oor die onderwerp deur middel van vraelyste wat op die literatuurstudie gebaseer is; • 'n Kritiese ontleding van die versamelde inligting; en • Die ontwikkeling van 'n besluitnemingsmodelop grond van die resultate van die beskikbare inligting wat as 'n praktiese gids vir bestuur kan dien met betrekking tot besluitingneming oor die stigting en bedryfvan 'n gebonde versekeraar. Vyf en twintig vraelyste is gedurende Februarie 2003 gepos om al die geregistreerde binnelandse gebonde versekeringsmaatskappye, asook gebonde versekeringsmaatskappye wat uit verskillende selle bestaan ("cell captive insurance companies"), in Suid-Afrika te bereik. Buitelandse gebonde versekeringsmaatskappye kon nie deel van hierdie studie vorm nie vanweë artikel 33 van die Reserwebank se Wet nr. 90 van 1989 insake vertroulike inligting. Van die 25 gebonde versekeringsmaatskappye het 21 maatskappye die vraelyste voltooi en drie respondente het aangedui dat hulle nie meer by die aktiwiteite van gebonde versekering betrokke was nie. 'n Reaksiekoers van meer as 95 persent is gevolglik behaal. Stellenbosch University http://scholar.sun.ac.za Die inligting vanuit die vraelyste is opgesom deur middel van 'n SPSS-sigblad en 'n aantal statistiese ontledings is gedoen, wat die basis van die empiriese studie gevorm het. Die resultate van die empiriese studie ten opsigte van binnelandse gebonde versekeraars, asook gebonde versekeraars wat uit verskillende selle bestaan, het tot gevolgtrekkings gelei met betrekking tot die belangrikheid van die verlangde doelstellings vir die stigting en bedryf van gebonde versekeraars. Die drie belangrikste faktore wat die besluitneming van 'n houermaatskappy behoort te beïnvloed om 'n binnelandse gebonde versekeraar te stig, is geïdentifiseer as die finansiële verbintenis van die houermaatskappy, die spreiding van die risiko's van die houermaatskappy en die retensiekapasiteit van die houermaatskappy. Die drie belangrikste faktore wat die besluitneming van 'n houermaatskappy behoort te beïnvloed om 'n binnelandse gebonde versekeraar te bedryf, is geïdentifiseer as die retensiekapasiteit van die houermaatskappy, die finansiële verbintenis van die houermaatskappy en die bestuursverbintenis van die houermaatskappy. Die drie belangrikste faktore wat die besluitneming van 'n houermaatskappy behoort te beïnvloed om 'n gebonde versekeraar wat uit verskillende selle bestaan, te stig, is geïdentifiseer as die spreiding van die risiko's van die houermaatskappy, die retensiekapasiteit van die houermaatskappy en die finansiële verbintenis van die houermaatskappy. Die drie belangrikste faktore wat die besluitneming van 'n houermaatskappy behoort te beïnvloed om 'n gebonde versekeraar wat uit verskillende selle bestaan, te bedryf, is geïdentifiseer as die finansiële verbintenis van die houermaatskappy, die spreiding van die risiko's van die houermaatskappy en die bestuursverbintenis van die houermaatskappy . 'n Besluitnemingsmodel is as hulpmiddel vir risikobestuurders ontwikkel, vrr beide binnelandse gebonde versekeraars asook gebonde versekeraars wat uit veskillende selle bestaan, om met besluitneming ten opsigte van die stigting en bedryf van 'n gebonde versekeraar as deel van hul risikobestuursprogram te help. Die voortvloeiende gevolgtrekkings en aanbevelings van die werkstuk was grootliks gebaseer op die persoonlike menings van die gebonde versekeraars wat aktief in die Suid-Afrikaanse gebonde versekeringsbedryf is. Dit word gevolglik aanbeveel dat toekomstige navorsing ook die rol en menings van die houermaatskappye insluit.

Thesis (M.B.A.)--Massachusetts Institute of Technology, Sloan School of Management, 2000.
Also available online at the DSpace at MIT website.
Includes bibliographical references (leaves 95-97).
Since China began its "open door" policy in the late 1970s, this huge undeveloped market has attracted the attention of investors from all over the world. The fast growing economy has also stimulated demand in the insurance business. China opened its insurance market to foreign entrants in 1992. However, this is only a gradual step due to numerous restrictions on licensing, geographical scope, product scope and operation. In the US-China WTO agreement, China has committed to more fully open the insurance market, and this will provide some opportunities for foreign companies. This thesis attempts to examine the life insurance industry in Mainland China and to identify the opportunities and challenges for foreign entrants. In addition to describing the current industrial environment by investigating regulatory issues, the major players, competition, market factors, and the dynamics of foreign and domestic companies, this thesis will also discuss the market potential, the impacts of the WTO agreement, and changes and opportunities for the future. Some critical non-market factors associated with the market are also addressed including political and economic issues, the legal framework and administrative system, working relationships, cultural differences, and investment issues. There is no intention for a conclusion in this thesis, since for most foreign insurers, multinational insurance groups in particular, it is not likely that they can refuse becoming involved in this market. Therefore, the main purpose of this thesis is to describe an overview of this market, to point out the risks, and to provide some suggestions for foreign companies to take into account before they enter China.
by Deh-Yen Weng.
M.B.A.

The study examines the effects of internal factors, made up of firm specific variables, and the external factors, consisting of industry and macroeconomic variables, on the financial performance of insurance companies in Mauritius. In particular, the study investigates the impact of firm size, leverage, gross written premiums, reinsurance, combined ratio, market concentration, foreign exchange, inflation and GDP growth on the profitability of insurers in both the life and the nonlife markets. Profitability was proxied by return on assets (ROA) and the underwriting profit ratio (UWPR). The study employs an unbalanced panel data sample of twenty non-life and seventeen life insurers from 2008 to 2016, with one hundred and twenty-two (122) non-life and ninety-eight (98) life firm-year panel observations obtained from the Financial Services Commission (FSC) of Mauritius. The models were estimated using the sandwich estimator by White, (1980) and Eicker, (1963) within pooled OLS, fixed and random effects panel estimation techniques. The findings show that, a unit increase in the combined ratio and leverage of life insurers impact negatively on the return on assets (ROA), while an increase in reinsurance dependence and firm size impact underwriting profit ratio positively. In the non-life sector, the findings show that insurance companies' profitability is positively impacted by increases in the combined ratio and gross written premium, while market concentration and foreign exchange negatively impacted non-life insurers' profitability. The findings of the study help us to understand firm pricing behaviour within the insurance industry and help to protect consumer interests in the pricing of policies. The findings also have implications on the growth strategies and risk management activities of insurance companies in Mauritius.

Thesis (S.M.)--Massachusetts Institute of Technology, Sloan School of Management, 2011.
Cataloged from PDF version of thesis.
Includes bibliographical references (p. 52).
The Korean life insurance industry has rapidly grown over the past decades. The CAGR (Compounded Annual Growth Rate) of asset from 1978 to 2008 is 22.8%. As the asset size increases very fast, risk management plays a vital role in the Korean life insurance industry. Before the financial crisis in 1998, the risk management system was very weak in Korea. It was because the government controlled and protected the life insurance companies. However, the financial crisis brought changes in risk management. 7 of 30 insurance companies were bankrupt in financial crisis. The survivors also suffered from the absence of risk management system. But the financial crisis fostered the ability to propagate in the wild. Korean insurance companies started to realize the risks and built up a risk management system with their experiences. With this effort, they quickly overcame the recent global financial crisis. But there is still room for improvement. Especially, they have not dealt with the risk allocation which is an essential part in risk management. In this paper, I will discuss the current risk management system and capital allocation in the Korean life insurance industry.
by Jungmoo Huh.
S.M.

Thesis (S.M.)--Massachusetts Institute of Technology, Sloan School of Management, 2010.
Cataloged from PDF version of thesis.
Includes bibliographical references (p. 74).
The Korean insurance industry has rapidly grown over the past decade, and at the same time the asset size of Korean insurance companies increases very fast. So the effective and scientific asset management becomes very essential for these companies to stay profitable. Korean insurance companies are also expanding their business platforms abroad including emerging countries, and consequently the appropriate currency management becomes a very important issue in asset management. In this paper, various hedging instruments for managing currency risk were reviewed with the focus on Korean specific financial market conditions, and the researches on the optimum hedge ratio of foreign investments were also discussed. Based on the practice of leading companies and the academic approach of the currency management, I suggested the effective currency management strategy for foreign investments of Korean insurance companies.
by Sung-Jin Choi.
S.M.

In 2008, the world experienced a global financial crisis, highlighting concerns over a lighttouch financial regulatory system such as currently used in South Africa. Even though the South African financial system weathered the storm, nearly a million jobs were lost as a result of the global contagion that originated from the crisis in the First World s banking and financial systems. Consequently, the Financial Services Board, the South African regulator responsible for the non-banking financial services industry, started reforming its regulatory system in the aftermath. The Solvency Assessment and Management framework is currently being developed to establish a risk-based regime for the prudential regulation of long-term insurers and shortterm insurers in South Africa. Solvency Assessment and Management is developed as a risk-based supervision framework replicating the multi-year European project called Solvency II. The Financial Services Board established a Solvency Assessment and Management governance structure to provide it with recommendations from all stakeholders for the risk-based framework underlying the Solvency Assessment and Management regulatory regime. The Solvency Assessment and Management governance structure consists of three main committees overseeing quantitative aspects (Pillar I), risk management and governance (Pillar II) and reporting and disclosure (Pillar III). The study focused on the Pillar II impact of Solvency Assessment and Management on the role of risk management in an insurance company. Furthermore, the study evaluated the current self-assessed readiness of insurers for the future Solvency Assessment and Management risk management requirements. A quantitative data analysis approach was applied to the Solvency Assessment and Management Pillar II Readiness Survey, which the Financial Services Board conducted in 2012 as part of the journey to prepare insurers for Solvency Assessment and Management. The survey was mandatory for all registered South African insurance companies with the primary focus of gaining a better understanding of how insurers prepared themselves for the requirements of Pillar II. The questionnaire consisted of seven parts and in each part, there were specific questions related to the Pillar II requirements followed by a self-assessed readiness question. The purpose of the data analysis was to identify which aspects of the risk management section of the questionnaire were significant predictors of whether insurers rated themselves as ready for the Solvency Assessment and Management Pillar II risk management requirements. The relationship between the responses to each question and the insurer s self-assessed readiness for the Solvency Assessment and Management risk management requirements was tested using Pearson s chi-squared test and Fisher s exact test. Key predictors of readiness identified in the analysis were compared with literature on the attributes required for a robust risk management system. The study provided insight into insurers perception of a relevant risk management framework compliant with the Solvency Assessment and Management requirements. Results from the analysis of individual relationships for life insurers indicated that there was a significant relationship between having in place a risk management system documenting the risk management strategy, an explicit asset-liability management policy, an investment policy and a risk transfer policy and assessing themselves as ready for the Solvency Assessment and Management requirements. Therefore, life insurers who had these components of the risk management framework in place were more likely to assess themselves as ready for the future Solvency Assessment and Management Pillar II risk management requirements. For non-life insurers, the results indicated that there was a significant relationship between having in place a risk management system documenting the risk management strategy, an explicit asset-liability management policy, a risk transfer policy and a remuneration committee and assessing themselves as ready for the Solvency Assessment and Management requirements. Therefore, non-life insurers who had these components of the risk management framework in place were more likely to assess themselves as ready for the future Solvency Assessment and Management Pillar II risk management requirements.
Dissertation (MCom)--University of Pretoria, 2015.
Financial Management
MCom
Unrestricted

The study has sought to examine knowledge management practice in the Old Mutual, Buffalo City Metropole. The study has been conducted against the backdrop of measuring how far South African companies are in applying Knowledge Management (KM) tools and techniques to improve their competitive advantage. The study was conducted based on the assumption that insurance companies in South Africa are at the forefront in the use and application of technology. Various concepts are defined throughout the study. In reviewing literature for example, the study introduces the reader to various theories, views and approaches to KM. The most significant of these are the cultural and social systems approach on one hand and the product or process approach on the other. The study relied on the use of a variety of data collection methods such as questionnaires, interviews and participant observation for the purposes of collecting primary data. From the primary data collected, it was discovered that the largest number of responses came from marketing, sales and customer services departments. The employees have limited flexibility in terms of decision making and team work, due to the rigidity of tasks. The findings revealed that the company has a loosely structured infrastructure, where each strategic business unit (SBU) manages its own IT tools and documents. All these underlying aspects are not conducive to the promotion of and growth of KM in any company. The final chapter concludes with a model for KM implementation and the procedures to be followed to ensure that the practice adds value to the company.

Thesis submitted in fulfilment of the requirements for the degree Master of Technology Project Management in the Faculty of Business at the Cape Peninsula University of Technology 2014
In past, the impact of communication on project quality did not receive considerable attention, perhaps since the inception of project management as the field of enquiry. This is in spite of the fact that the Project Management Body of Knowledge (PMBOK) has nine knowledge areas, and amongst these elements, communication is regarded as an integral part of these aspects of project quality. While (in principle) communication is regarded as a core element of project quality, in practice, the four core elements, which are used to determine the success of the project are time, cost, scope, and quality. This study aims to investigate the effects of communication on project quality with reference to the Facilities Management Project at a the Life Assurance Company located in Cape Town, Western Cape, South Africa. The services, which are offered by facility management companies differ across the spectrum of companies, but most of these services include build operations, maintenance, real estate, human and environmental factors , project management, space planning, basic management activities, finance, quality assessment, communication and general administrative support. The major question that the study seeks to address is to determine if stakeholder communication impacts on the quality of projects at all. The research used qualitative methodology research design to approach data collection and analysis, which was supported by survey questionnaires to analyse the effect of communication on Facility Management project quality. In this context, project quality is determined by the extent to which project outcomes meet the needs and expectations of project-end users. The researcher argues that these expectations must be communicated in order to improve the success of the project (i.e. project quality). With regard to the FMU project at the Life Assurance Company, the study revealed that stakeholder communication is crucial and hence it is a core essential element, which affects the quality of FMU projects. The study also revealed that in recent years, tenants have expressed their dissatisfaction about projects that are executed by the facility management division. The major problem for the tenant’s dissatisfaction appeared to stem from the lack of stakeholder communication during facility management projects. This dissatisfaction has led to tenants rating facility management projects quality as poor. In view of these challenges, the study thus concludes with an analysis of stakeholder communication at the life assurance company and its impact on the quality of facility management projects. The findings of the study suggest that communication amongst stakeholders is crucial and can affect the quality of projects. Even though tenants were the custodians of the facility management projects, they only received limited information during the project life cycle. In some instances, communication in the form of layout design, held desk and telephone, were identified as major communication channels that are used to facilitate communication. However, there was a lack of communication with respect to decision-making about the project across the project lifecycle and thus the study recommended that stakeholder communication should occur in all project phases.

Thesis (MBA (Business Management))--Stellenbosch University, 2008.
Financial services and in particular the insurance industry, has been exposed to large-scale pressures and challenges from various fronts. For the past few decades, the life insurance industry has been self-regulated through the Life Offices Association (LOA). The LOA, representing life insurers, however never succeeded in keeping the industry abreast of market, and the needs of the role players' (authors' opinion based on interaction with in the industry and supported by the implementation of consumer-driven legislation). The LOA together with a range of other financial services industry bodies have since been disbanded (2008) and will in future form part of the greater industry body ASISA (Association for savings & investment South Africa) Over the past 10 years the slow transformation caught up with the insurance industry. Life insurers wanting to satisfy their shareholders focussed on the generation of new business, often to the detriment of the consumer. Consumer understanding of what they bought increased at a faster rate than the knowledge of many of the brokers selling these products, partly due to the information era and the free availability of information. Lack of transparency, misrepresentations and bad advice from insurers and brokers have been exposed at an increasing rate since the late 1990s. The South African government decided to correct the wrongs of the past by taking control of the situation, copying the UK model on Financial Services. Government instituted the Financial Services Board and implemented a number of regulations to ensure compliance to set criteria. If compared to the regulatory model and processes applied in the UK (FSA), the insurance industry can expect more regulatory pressures in the immediate future. The increased regulation will increase the cost of doing business for all role-players. A reduction in broker numbers can also be expected. Insurers will have to find new ways of increasing production with a reduced distribution capacity. Insurers need to produce sufficient returns on investment for their shareholders to ensure continued capital. By being creative and partnering existing distribution structures, such as distribution networks, bank brokerages, etc., insurers will be able to lock-in distribution capacity without incurring excessive costs. It is undeniable that insurers will have to revisit their distribution strategies if they are to survive the next few years. At the current cost of distribution, insurers will not survive the changing environment. Distribution through existing internal distribution structures will continue to be under severe cost pressures in servicing brokers with low to average production levels. If the international trends are to filter through into the South African insurance industry, larger number of brokers will join networks merely to limit the impact the changing environment has on their practices. Such a move works in favour of all role players: • Insurers are able to reduce/restructure their costs and lock-in distribution capacity through singular points of entry. • Brokers are less fragmented and so improve their ability of being heard, through a greater unified voice. • Regulators can drive change and compliance through singular points of access to multiple brokers. • The industry is able to retain the knowledge and expertise to deliver their products and improve its overall public image. • Government are assured of a larger part of the population having access to financial services and in particular life insurance. • Clients would experience improved and standardised service levels from the brokers. Insurers unable to lock-in distribution capacity will find it extremely difficult to survive the changing climate. Insurers have been locking-in distribution capacity by means of: • agency forces that write products of the specific insurer • bank-assurance agreements where insurers and banks have cross shareholding • franchise agreements where the sales people are in fact agents of the franchisee • call centres either owned by the insurer or having dedicated seats selling products of the insurer • loyalty programmes aimed at gaining a larger portion of the brokers production • recently the formation of distribution networks provide insurers on the network platform access to affiliated brokers. The formation of networks and distribution networks counteracts the constrictions these structures place on broker independence by providing increased operational freedom to their affiliated brokers. The choice of partnering a distribution network needs to be supported by the following: • The choice of partner • A cost-benefit analysis • The timing of entering the partnership • The resources and supporting structures • The communication of the change • The preparation for the change • An approach in support of the partnership Partnering with a network is a strategic initiative as it involves outsourcing what was previously thought to be a core function of the insurer. This change in approach impacts many of the current structures and various people at all levels of the operation. How to approach partnering and implementing a model to support outsourcing to external distribution networks is dealt with in this study. The success of partnering with external distributors is reliant upon eight identified critical factors. These relate to: • fit, management, formalities and relationships of the partnership • systems, processes and support structures in support of the partnership • management of risk, control and growth within the partnership. The changing business environment will continue to increase the attractiveness of distribution networks to brokers. A shift in distribution capacity demographics towards distribution networks can thus be expected. In order to maximise their distribution capacity life insurers will need to embrace the change and adapt their approach towards the partnership. Without understanding, managing and finding solutions to each of the critical success factors (CSFs) an insurer will find it extremely difficult competing and increasing market share within the distribution network. The findings indicate a realistic probability that insurers are able to adapt to the changing environment. This however requires a change in style of management from one of control towards one of influence. Effectively, each partner should be treated as partners.

Dissertation (PhD)--Stellenbosch University, 2001.
ENGLISH ABSTRACT: Notwithstanding the importance of institutional financial investments and labour to the South African economy, relatively little attention has been paid by researchers to the interdependence of these two issues. As a result of this gap in the existing literature, a potential exists for inefficient financial investment decision-making by institutional investors with a resultant non-optimal allocation of valuable capital on the JSE Securities Exchange South Africa (previously known as Johannesburg Stock Exchange). The objective of this study thus embodies the evaluation of the impact of labour-related risks on financial investment decision-making regarding long-term insurance assets, given the basic theory available in this regard, so that the resultant recommendations can lead to a better utilisation of the theory by investors in general. The resulting tasks of the study are as follows: • To do a literature study of the basic theory available in this regard. • To obtain information about the relevant aspects, by means of personal interviews with investment practitioners responsible for financial investment decision-making, as far as long-term insurance assets are concerned. • To develop a tool that can be used to measure the degree of labour-related risk at enterprises for the purpose of financial investment decision-making. • To make suitable recommendations based on the critical analysis of the obtained information. Twenty-three interviews were conducted during March and the first half of April 1999 to cover the financial investment decision-making practices of the 47 participating long-term insurers, resulting in a 100 per cent response rate. The personal interviews were structured by using a written discussion guideline that was drafted with reference to the literature study. A distinction was made between the perceived labour-related risks in manual and knowledge worker enterprises. In addition to general information, the discussion guideline required the participating institutions to disclose information about the financial investment decisionmaking process in use at their institutions and to respond with regard to the perceived importance of various labour-related risk factors. The discussion guideline also required the participants to rank certain aspects in order of their significance when the degree of labourrelated risk at enterprises is determined. Finally, questions were asked to determine the relative importance of labour-related risks in general when financial investment decisions are taken. The information obtained during the interviews was summarised on an Excel spreadsheet and subjected to an elaborate statistical analysis to satisfy the objectives of the study. The majority of the data that were obtained during the survey are ordinal, because the discussion guideline made use of an ordinal level of measurement. With this in mind, the mean (as a measure of central tendency) and the range (as a measure of dispersion) are used to describe the data. Spearman's rank correlation coefficient is used as a measure of correlation. The sign test, being one of the simplest non-parametric tests, is used throughout the study to investigate whether the observed differences in opinion regarding manual worker and knowledge worker enterprises are significant. The study highlights the significant role of long-term insurance assets on the JSE Securities Exchange South Africa, as well as the significant differences between manual and knowledge worker enterprises regarding the perceived importance of labour-related risk factors for the purpose of financial investment decision-making. The large number of labour-related risk factors and the existence of significant correlation between many of them reflects the complicated nature of labour-related risks. The respondents regard labour-related risks between moderately and highly important for manual and knowledge worker enterprises when financial investment decisions are taken. Classification trees are introduced as the preferred method to deal with these complexities and to measure labour-related risks in manual and knowledge worker enterprises for the purpose of financial investment decisionmaking. These classification trees are constructed based on the wealth of experience of investment practitioners active in the long-term insurance industry at the time of the survey and with reference to the literature study. Generally, the most critical labour-related aspects to consider when the degree of labourrelated risk at manual and knowledge worker enterprises is determined, are internal to these enterprises and can be managed. Management and the labour force of enterprises should take cognisance of their responsibilities in this regard and the perceived ability they have to significantly influence the degree of labour-related risk at manual and knowledge worker enterprises. Other role players also have important roles to play in this regard, given the impact of the external environment on the degree of labour-related risk. The responsibility of enterprises to disclose the information required by investors to determine the prevailing degree of labour-related risk at enterprises is matched by the responsibility of investment practitioners to request and rationally assess this information. The resulting conclusions and recommendations of this study and the tool that is developed to measure the degree of labour-related risk at enterprises for the purpose of financial investment decision-making are largely based on the perceptions of investment practitioners active in the long-term insurance industry at the time of the survey. With this in mind, it is recommended that future research activities be aimed at enhancing the value of the classification trees developed in this study by applying the tree-growing method on actual cases where the variables can be measured and the eventual outcomes are determined.
AFRIKAANSE OPSOMMING: Desnieteenstaande die belangrikheid van institusionele finansiele beleggings en arbeid vir die Suid-Afrikaanse ekonomie, het navorsers tot dusver relatief min aandag aan die interafhanklikheid van hierdie twee aspekte gegee. Die leemte in die bestaande literatuur kan lei tot oneffektiewe finansiele beleggingsbesluitneming deur institusionele beleggers met die gevolg dat waardevolle kapitaal nie optimaal op die JSE Sekuriteitebeurs Suid-Afrika (voorheen bekend as die Johannesburgse Effektebeurs) verdeel word nie. Die doelstelling van hierdie studie behels dus die beoordeling van arbeidsverwante risiko's se invloed op finansiele beleggingsbesluitneming met betrekking tot die bates van langtermynversekeraars, gegewe die basiese teorie beskikbaar in hierdie verband, sodat die voortspruitende aanbevelings kan lei tot 'n beter benutting van die teorie deur beleggers in die algemeen. Die take van die studie is as volg: • Om'n literatuurstudie te doen van die basiese teorie wat in hierdie verband beskikbaar is. • Om inligting rakende die relevante aspekte te bekom deur middel van persoonlike onderhoude met beleggingspraktisyns wat vir beleggingsbesluitneming rakende die bates van langtermynversekeraars verantwoordelik is. • Om'n hulpmiddel te ontwikkel wat gebruik kan word om die graad van arbeidsverwante risiko in ondememings te meet vir die doeleindes van beleggingsbesluitneming. • Om toepaslike aanbevelings te maak op grond van die kritiese ontleding van die verkrygde inligting. Drie en twintig onderhoude is gedurende Maart en die eerste helfte van April 1999 gevoer om die beleggingsbesluitnemingspraktyke van die 47 deelnemende langtermynversekeraars te dek. 'n Een honderd persent reaksiekoers is dus behaal. Die persoonlike onderhoude is gestruktureer deur gebruik te maak van 'n geskrewe besprekingsriglyn wat na aanleiding van die literatuurstudie opgestel is. 'n Onderskeid is tussen die waargenome arbeidsverwante risiko's gemaak waar hande-arbeiders en werknemers wat kennis aanwend in ondememings werksaam is. Bo en behalwe algemene inligting, het die besprekingsriglyn ook van die deelnemende instellings gevra om inligting te openbaar rakende die beleggingsbesluitnemingsproses deur hulle gebruik en om 'n mening uit te spreek orntrent die belangrikheid van 'n verskeidenheid arbeidsverwante risikofaktore. Die besprekingsriglyn het ook versoek dat die deelnemers sekere aspekte rangskik in terme van hul belang wanneer die graad van arbeidsverwante risiko by ondememings bepaal word. Ten slotte is vrae gestel ten einde die relatiewe belangrikheid van arbeidsverwante risiko's in die algemeen te bepaal wanneer finansiele beleggingsbesluite geneem word. Die inligting wat tydens die onderhoude verkry is, is op 'n Excel sigblad opgesom en aan 'n omvattende statistiese ontleding onderwerp ten einde die doelstellings van die studie te verwesenlik. Die data wat tydens die opname verkry is, is hoofsaaklik volgens 'n rangorde, aangesien die besprekingsriglyn van 'n ordinale vlak van meting gebruik gemaak het. Met dit in gedagte, is die gemidde1de (as 'n maatstaf van lokaliteit) en die variasiewydte (as 'n maatstaf van spreiding) gebruik om die data te beskryf. Spearman se rangorde korrelasiekceffisient is as 'n maatstaf van korrelasie gebruik. Die tekentoets, een van die mees eenvoudige nie-parametriese toetse beskikbaar, is in die studie gebruik om ondersoek in te stel of die waargenome verskille in mening rakende ondernemings waar hande-arbeiders en werknemers wat kennis aanwend, betekenisvol is. Die studie beklemtoon die betekenisvolle rol wat die bates van langtermynversekeraars op die JSE Sekuriteitebeurs Suid-Afrika speel, sowel as die betekenisvolle verskille rakende die waargenome belangrikheid van arbeidsverwante risiko's vir die doeleindes van beleggingsbesluitneming waar ondernemings hande-arbeiders en werknemers wat kennis aanwend, in diens het. Die groot aantal arbeidsverwante risikofaktore en die betekenisvolle korrelasie wat tussen talle van hulle bestaan, dui op die komplekse aard van arbeidsverwante risiko 's. Die respondente beskou arbeidsverwante risiko' s as tussen redelik belangrik en hoogs belangrik vir sowel ondernemings met hande-arbeiders en die met werknemers wat kennis aanwend wanneer beleggingsbesluite geneem word. Klassifikasiebome word bekend gestel as die gewenste metode om vir hierdie kompleksiteite voorsiening te maak en om arbeidsverwante risiko's in ondernemings wat hande-arbeiders en werknemers wat kennis aanwend, in diens het, vir die doeleindes van beleggingsbesluitneming te meet. Die klassifikasiebome word op grond van die omvangryke ervaring van beleggingspraktisyns (wat ten tye van die opname in die langtermynversekeringsbedryf bedrywig was) en met verwysing na die literatuurstudie opgestel. Oor die algemeen is die mees kritiese arbeidsverwante aspekte wat oorweeg moet word ten einde die graad van arbeidsverwante risiko te bepaal by ondernemings met hande-arbeiders en die met werknemers wat kennis aanwend, intern tot hierdie ondernemings. Sodanige aspekte kan gevolglik bestuur word. Bestuur en die arbeidsmag van ondernemings moet kennis neem van hul verantwoordelikhede in hierdie verband sowel as die waargenome vermoe wat hulle het om die graad van arbeidsverwante risiko by ondernemings wat handearb eiders en werknemers wat kennis aanwend, in diens het wesenlik te beinvloed. Ander rolspelers speel ook 'n belangrike rol in hierdie verb and vanwee die invloed wat die eksterne omgewing op die graad van arbeidsverwante risiko het. Die verantwoordelikheid van ondernemings om die nodige inligting aan beleggers te openbaar ten einde hulle in staat te stel om die heersende graad van arbeidsverwante risiko by die ondernemings te bepaal, stem ooreen met die verantwoordelikheid van beleggingspraktisyns om die inligting te versoek en rasioneel te beoordeel. Die voortvloeiende gevolgtrekkings en aanbevelings van die studie en die hulpmiddel wat ontwikkel is om die graad van arbeidsverwante risiko by ondernemings te meet vir die doeleindes van beleggingsbesluitneming, is grotendeels gebaseer op die persepsies van beleggingspraktisyns wat ten tye van die opname in die langtermynversekeringsbedryf bedrywig was. Met dit in gedagte, word aanbeveel dat toekomstige navorsingsaktiwiteite gerig word op die verhoging van die waarde van die klassifikasiebome wat in hierdie studie ontwikkel is deur die boom-groei metodiek toe te pas op werklike gevalle waar die veranderlikes gemeet en die finale uitkomste bepaal kan word.

Study project (MAcc)--Stellenbosch University, 2001.
ENGLISH ABSTRACT: The most basic principle of agency theory is that an individual will always serve his own interest best. According to Eisenhardt (1989) agency theory describes individuals as rational, risk averse en motivated by egotism. Agency theory also deals with the conflict that exists between different parties in an organization due to people's egoism. This self-interest can lead to goal incongruence if a person is placed in an environment where he has to serve somebody else's interest. Ownership and management vested in the same party until about 130 years ago. These roles were however separated with the development of the modem organization. The principal or owner is now represented by the shareholder and management serves as the agent. The principal thus appoints the agent to serve and manage his interest in the organization optimally. The principal's goal is the maximising of his shareholders' wealth. The agent's goal to carry out his task with the minimum effort and or to obtain maximum benefit for himself. It is thus clear that the goals of the principal and agent might often differ and this will give rise to goal Incongruence. This goal incongruence may give rise to some managerial actions which will be detrimental to optimal value of the company. The agency conflict, which is caused by man's self interest, manifests in the modem organization in a number of ways. These are referred to agency problems in this assignment. Agency problems are found both on a micro- and macroeconomical level. Agency cost is the sum of the difference between the real and optimal value of the company, the monitoring costs of the principal and the bonding costs of the agent. This cost is to the disadvantage of the principal and might even be to the disadvantage of the agent. It is thus essential that agency conflict and agency costs are reduced to a minimum. A number of measures are taken to address the agency problems and to reduce their negative effect on the organization. None of these measures will be efficient enough ifused in isolation. An optimal combination of solutions will depend on the company's specific circumstances. An empirical study was conducted to determine to what extent the agency problems manifest during the demutualisation of a big insurance business. The measures taken to address these problems were also investigated as well as the extent to which these were successful.
AFRIKAANSE OPSOMMING: Die basiese aanname van agentskapsteorie is dat die individu sy selfbelang altyd eerste sal stel. Volgens Eisenhardt (1989) beskryf agentskapsteorie individue as rasioneel, risikoongeneigd en gemotiveer deur selfbelang. Agentskapsteorie handel verder oor die konflik wat tussen die verskillende belanghebbende partye binne 'n organisasie as gevolg van persone se selfbelang ontstaan. Hierdie selfbelang van die mens kan lei tot doelwitinkongruensie, indien die persoon in 'n omgewing geplaas word waar daar van hom verwag word om 'n ander se belange te dien. Eienaarskap en bestuur was tot ongeveer 130 jaar gelede gevestig in dieselfde party. Met die totstandkoming van die moderne onderneming, is hierdie rolle egter geskei. Die prinsipaal of eienaar word nou verteenwoordig deur die aandeelhouer en die bestuur dien as die agent. Die prinsipaal stel dus die agent aan om na sy belang in die onderneming om te sien en dit optimaal te bestuur. Die prinsipaal se doel is die maksimering van sy aandeelhouerswelvaart. Die agent poog om sy taak met minimale inspanning te voltooi en of uitsonderlike voordeel vir homself te behaal. Dit is duidelik dat die prinsipaal en agent se doelwitte meermale sal verskil en doelwitinkongruensie ontstaan dus. Hierdie doelwitinkongruensie word vergestalt in sekere aksies wat bestuur soms neem en wat daartoe lei dat die optimale waarde van die firma nie bereik word nie. Die agentskapskonflik wat as gevolg van die partye se selfbelang ontstaan manifesteer in die moderne onderneming op 'n verskeidenheid van wyses, wat in hierdie werkstuk as agenskapsprobleme gedefinieer word. Agentskapsprobleme kom op 'n mikro- sowel as op 'n makro-ekonomiese vlak voor. Die verskil tussen die werklike en optimale waarde van die organisasie, plus die prinsipaal se moniteringskoste en die agent se gebondenheidskoste, verteenwoordig agentskapskoste. Hierdie koste strek tot die nadeel van die eienaars en meermale ook tot die nadeel van die bestuur. Dit is dus noodsaaklik dat agentskapskonflik en die gepaardgaande agentskapskoste tot 'n minimum beperk word. Daar word van 'n verskeidenheid van maatreëls gebruik gemaak ten einde die agenskapsprobleme aan te spreek en hul negatiewe impak op die onderneming te versag. Nie een van hierdie oplossings kan in isolasie gebruik gemaak word nie en afhangend van die onderneming se spesifieke omstandighede, sal daar hoogstens 'n optimale kombinasie van oplossings ontwikkel kan word. Daar is vervolgens in hierdie werkstuk 'n empiriese ondersoek uitgevoer ten einde te bepaal in hoe 'n mate die agenskapsprobleme tydens die demutualisering van 'n groot versekeringsonderneming manifesteer. Die neem van regstellende stappe om hierdie probleem aan te spreek is ondersoek, sowel as die mate waartoe hierdie maatreëls suksesvol was al dan nie.

This study investigates the extent to which South African short-term insurance companies manage climate change risk, as evidenced in their annual and sustainability reporting. The study context takes into account the fact that the world’s climate has been changing at a more accelerated rate since the early 1970s, causing disasters that have negatively affected world economies in the last ten years. Insurers, due to their huge financial resource base, long history of spurring innovation around risk and encouraging loss-reducing behaviour as well as high levels of vulnerability, have been identified as one industry that could lead societies in finding solutions to climate change risk. A key element of such a corporate resolve involves taking a leadership position which makes business sense for insurers. As such, this research analyses how innovative solutions to change-related problems could result in reduced exposure to climate change in line with corporate triple bottom line objectives. Based on a purposive sampling of short-term insurance companies operating in the South African market during the 2007 financial year, the study uses the companies’ annual and sustainability reports in order to critically assess evidence of climate change-related performance. The assessment is undertaken against the best practice indicators of climate change risk management, as defined by Ceres – a global researcher on climate change management in the business context. The data analysis is largely qualitative, consisting of a narrative presentation of the results and a conceptual application of the results to the triple bottom line which forms the theoretical framework of this study. The study finds that the South African short-term insurers were generally not living up to the climate change management ideals, in comparison to their multinational counterparts. For the South African short-term insurers, corporate strategic product innovation and planning was insignificant. Also negligible was board involvement, as well as CEO involvement, though in at least one case of the 4 local short-term insurance, there was evidence of extensive CEO involvement in climate change risk management. On the whole, these findings represent a lapse in corporate governance inasmuch as climate change risk management is concerned. Local short-term insurers generally performed well in the area of public disclosure, with their scores ranging from insignificant to extensive. In contrast, multinational short-term insurers’ performance with regard to climate change risk intervention ranged from insignificant tointegrated, across the five governance areas of board oversight, management execution, public disclosure, emissions accounting and strategic planning. As such, the study broadly recommends that short-term insurers in South Africa should make climate change part of their overall risk management strategies in order for them to remain competitive in an environment of increased climate change-related risk. More specifically, the research project recommends that the local insurers should proactively lead climate change mitigation measures through, for instance, investing in clean energy projects and incentivising their clients’ participation in the carbon market to prepare themselves for possible regulatory restrictions after the Copenhagen climate change conference planned for December 2009. This study also challenges insurers to help communities and as well as other businesses in their value chain to reduce their negative impacts on the world’s climate and to be more resilient against disasters which may arise from the high levels of greenhouse gases already in the atmosphere. Further, it recommends that insurers should create internal board and executive level climate change-related structures, as these will facilitate the integration of the proposed initiatives into their overall sustainability strategies. Above all, the study recommends that insurers should enhance the reporting of their climate change-related risk, opportunities and initiatives to improve their integrity.

Thesis (MBA)--Stellenbosch University, 2015.
ENGLISH ABSTRACT: This research investigates the short-term insurance industry in South Africa in order to develop a strategic architecture for a new player to enter the market, differentiated primarily by operating on mutual principles. Mutual insurance is not something new and is widely applied across the world. However, in South Africa there is only one company that operates completely as a mutual. That company is known as the Professional Provident Society (PPS), and has been in operation since 1941. Although PPS operates completely as a mutual, it has only recently started to take part in the short-term insurance industry. Apart from them, there is no other short-term insurer that operates on mutual principles. In order to develop a strategic architecture, a thorough understanding of the industry and market was obtained by analysing the external and internal environments of short-term insurers in South Africa. The research is based on solid statistical data on all registered insurers, available from the governing body for insurers in South Africa, the Financial Services Board, as well as more qualitative data in the form of reports on industry analysis, performed by major auditors like KPMG and PWC. It also takes into consideration “cutting edge” approaches to starting up a new business, regardless of industry, through the application of the “Customer Development Model”, an approach based on lean and agile principles to mitigate the risk of developing a product / service at high cost before knowing if the market actually has a need or appetite for it. This research concludes by offering a strategic architecture and strategic implementation plan for a new player to enter the market, based on the analysis performed though the application of various strategic tools and frameworks. The primary findings of this research are that the industry is highly competitive, with longstanding ‘giants’ supported by parent companies. Those ‘giants’, however, all operate as stock insurers, and a transition by any one of them to mutual insurer, is highly unlikely. As mentioned, the industry currently only has one mutual insurer. This means there is really only one competitor (PPS) in terms of the profit sharing model and in that, PPS has a rather niche focus since its products are only available to graduate professionals. This research uses further external and internal environment analysis methods to extract industry information used in the formulation of a strategic architecture and business model for a new player to compete in the environment described above. It suggests that there is, in fact, room for a new player and that it can differentiate itself from stock insurers by applying the mutual model. It can further differentiate itself from stock insurers and PPS by expanding its market focus (i.e. not only for graduate professionals) and by utilising technology in productive and creative ways that encourages engagement with customers in a new way.

The Master’s thesis deals with evaluation of insurance protection of the Municipality of Albrechtice. The target of this work is to analyze the risk, which endangers the Municipality of Albrechtice and to compare analysis results to existing insurance protection and possibilities offered by other competitors. The proposals of insurance protection improvement of Municipality of Albrechtice in future are included.

Bakgrund: 1 januari 2013 kommer Direktivet (2009/138/EG) för Solvens II att implementeras. Detta kommer ske samtidigt inom Europeiska Unionen (EU) och kommer leda till en harmonisering av försäkringslagstiftning i medlemsstaterna. Tidigare svensk lagstiftning, Försäkringsrörelselagen (2010:2043), kommer med andra ord att anpassas till det nya regelverket. Regeländring kan komma att påverka svenska försäkringsbolags bedrivna kapitalförvaltning. Syfte: Syftet med studien är att undersöka om svenska försäkringsbolag utifrån rådande lagstiftning kan bedriva en, enligt finansiell teori, rationell kapitalförvaltning och om möjligheten till att bedriva en rationell kapitalförvaltning kommer att förändras i och med implementeringen av Solvens II. Genomförande: En genomgång av dagens regelverk, Försäkringsrörelselagen, samt Direktivet (2009/138/EG) för Solvens II kommer att presenteras. Utöver detta har fem stycken intervjuer med svenska försäkringsbolag genomförts. Slutsats: Dagens lagstiftning ger inte möjligheter till att bedriva en rationell kapitalförvaltning fullt ut. Solvens II kommer att förbättra försäkringsbolagens möjligheter att bedriva en rationell kapitalförvaltning. Försäkringsbolagen bedriver idag en förvaltning som till stor del kan anses vara rationell utifrån finansiell teori. Dock finns det vissa områden inom förvaltningen som skiljer sig från teorins bild.
Background: January 1, 2013, Directive (2009/138/EC) of Solvency II will be implemented. This will take place simultaneously in the European Union (EU) and will lead to a harmonization of insurance laws of the member states. Former Swedish legislation, Försäkringsrörelselagen (2010:2043), will therefore be adapted to the new framework. The rule change may affect Swedish insurance companies’ asset management. Purpose: The purpose of the thesis is to examine if Swedish insurance companies can apply rational asset management theory when Solvency II is implemented and if changes will occur in the asset management strategies. Implementation: A review of current regulations, Försäkringsrörelselagen (2010:2043), and Directive (2009/138/EC) of Solvency II will be presented. In addition, five interviews with Swedish insurance companies have been done. Conclusion: The current legislation does not provide opportunities to fully apply rational asset management. Solvency II will improve the insurance companies' ability to pursue a rational asset management. The asset management in Swedish insurance companies currently adopts strategies that to high extent comply with generally accepted financial theories. However, there are certain areas within the asset management that deviate from these financial theories.

Thesis (MBA (Business Management))--Stellenbosch University, 2008.
ENGLISH ABSTRACT: The current effects of globalisation are requiring of leaders to deal with many changes in the workplace, including a globally changing, diverse workforce. The question that this research report aims to address is what does it require of a leader to be successful in the business environment today and what characteristics or behaviours would such a leader display? It is argued that although the context of leadership has and will continue to change, the fundamentals of leadership have essentially remained the same (Kouzes and Pousner, 2002:xviii). A comprehensive study of literature in the field of leadership will reveal the views of various writers on this subject, namely what constitutes effective leadership. Five leadership theories, which in the researcher's opinion give a balanced overview of the various theories, are discussed in more detail and later on used to evaluate the leadership characteristics and style of one of the very successful leaders in South Africa, the current CEO of Sanlam, Dr. Johan van Zyl. The combination of these five theories focuses on leadership characteristics, leadership behaviours, different leadership styles and the relational aspect of leadership, that is the interaction between the leader and his followers. These five theories include the situational leadership theory, servant leadership, transformational leadership, the theory of level five leadership and emotional intelligence. A broad overview of Sanlam's history focusing on the company's transformation in recent years and its contribution to broad based empowerment are also discussed, providing the background and context to discuss the leadership provided by Johan van Zyl in recent years. The fourth chapter of this report provides an analysis of primary data collected through questionnaires sent to senior executives of Sanlam as well as through an interview with Van Zyl. The final chapter contains conclusions from the research results, namely the leadership characteristics and style of Van Zyl and his leadership approach as compared to the various theories studied. The researcher is of the opinion that valuable lessons are to be extracted from examining Van Zyl's leadership characteristics and style and that these could be applied to modern business practice. The research results showed that Van Zyl has characteristics of most of the leadership theories investigated in this study including characteristics of the situational leader, transformational leader, level five leader and that of an emotionally intelligent leader and that this is standing him in good stead for the transformation and strategic repositioning of Sanlam.
AFRIKAANSE OPSOMMING: Die huidige gevolge van 'n globaliserende wereld vereis van leiers om voortdurende veranderinge in die werksplek te bestuur, insluitende 'n globaal veranderende, diverse werkspan. Die vraag wat hierdie navorsingsprojek pobeer beantwoord is wat vereis dit van 'n leier om suksesvol te wees in die besigheidswereld vandag en watter leierseienskappe en gedrag sal so n leier betoon? Dit word beweer dat alhoewel die konteks van leierskap verander het en voortdurend sal verander, het die fundamentele begrip van leierskap dieselfde gebly. 'n Omvattende literatuurstudie in die veld van leierskap sal die standpunte van verskillende skrywers in die vakgebied daarstel om vas te stel wat, volgens die teorie, effektiewe leierskap behels. Vyf leierskap teoriee, wat in die navorser se opinie 'n geredelike oorsig gee van die verskeie leierskapsteoriee, word in groter diepte beskryf en later gebruik as die grondslag waarop 'n baie suksesvolle leier in Suid-Afrika, huidige uitvoerende beampte van Sanlam, Dr. Johan van Zyl se leierskap eienskappe en styl ge-evalueer word. Die kombinasie van die vyf teoriee fokus op leierseienskappe, gedrag, leierskapstyle, en die verhoudingsaspek van leierskap, byvoorbeeld die interaksie tussen die leier en navolgers. Die vyf teoriee sluit die situasionele leierskapteorie, dienende leierskap ('servant leadership'), transformasionele leierskap, vlak vyf leierskap en die teorie van emosionele intelligensie in. 'n Bree oorsig van Sanlam se geskiedenis wat fokus op die maatskappy se transformasie die afgelope paar jaar en bydrae tot breed gebaseerde swart ekonomiese bemagtiging ('broad based black economic empowerment') word ook bespreek en dien as die agtergrond en konteks om Dr. Johan van Zyl se leierskap te evalueer. In Hoofstuk Vier word 'n analise van primere data gedoen. Die data is ingesamel deur vraelyste wat voltooi is deur senior bestuurders van Sanlam asook deur 'n onderhoud met Van Zyl. Die finale hoofstuk beval afleidings i.v.m die leierskapseienskappe en -styl van Van Zyl en sy leierskapsbenadering soos vergelyk met die teoretiese benadering bestudeer. Die navorser is van die opinie dat belangrike lesse geleer kan word vanaf die studie van Van Zyl se leierskaps eienskappe en -styl en dat dit toegepas sal kan word as moderne besigheids beginsels vir leiers. Die bevindinge van die studie het getoon dat Van Zyl eienskappe van die meeste van die leierskapsteoriee wat bestudeer is in die studie betoon. Dit sluit eienskappe in van n situasionele leier, 'n transformasionele leier, n vlak vyf leier en 'n emosionele intelligente leier. Hierdie bevindinge word onderskraag deur die literatuur oor leierskap en die navorser is van die opinie dat hierdie eienskappe hom in n goeie posisie plaas vir die transformasie en strategiese herposisionering van Sanlam.

Diploma thesis is target the tackle the questions insurance portfolio Vyškov town in Moravia. The aim of this work is to analyze the risk of the city, to compare existing insurance protection, with the possibilities offered by a competitor with regard to the property and responsibility of the city and to propose such an insurance portfolio, which would correspond in all ideas of the members of the city and which would minimize the risk

The graduation thesis aims to specify and define, with respect to the Czech legislation, the profit and loss statement of the insurance companies and those items of revenues and expenses that are specific for the insurance companies. The thesis deals with the principal characteristics of the revenues and the expenses of the insurance companies as well as with the matter whether insurance companies can in any means influence their management result. It also focuses on the field of the insurance security -- what is the insurance security in the Czech Republic in relation to the European Union, and on the quantity limits of the profit and loss statement, in the Czech insurance sector. It also assesses the efficiency of the local insurance companies in relation to this, what is the share of the earned premium when taking in account the insurance claims, the operating costs and the management result. The graduation thesis came to the conclusion that an insurance company can quite easily influence its accounting management result and therefore it is necessary for the company to respect the relevant accounting measures. Furthermore, the Czech Republic in comparison to the other EU countries indicates relatively low level of insurance security. With respect to the efficiency it is possible to conclude (in relation to the year 2012 and the local insurance companies) that the earned premium comprises of more that 60% of the claimed damages, 30% of the operating costs and 10% of the earned premium represents the net profit.

The primary objective of this study was to develop an Enterprise Risk Management Maturity Framework (ERMMF) for use in the assessment of Enterprise Risk Management (ERM) maturity levels of the insurance industry in Botswana. The ERMMF incorporated elements from the Committee of Sponsoring Organisations of the Treadway Commission (COSO)’s ERM framework and the AON risk maturity model. Five criteria were utilised to define each of the eight components of ERM used to measure ERM maturity levels. The framework was developed qualitatively through literature review. The ERMMF was tested empirically to evaluate the ERM maturity levels of the insurance industry in Botswana. Data was collected from 12 respondents from long-term insurance companies, 15 from short-term insurance companies, 4 from reinsurers and 59 from brokerages. The findings revealed that the whole insurance industry is at the Defined stage of ERM maturity level as the responses bordered around 3 on the developed scale of measurement. The findings implied that the insurance sector in Botswana has generally implemented ERM but not enough follow-ups had been made to ensure that ERM became a continuous process. Results further indicated that although the whole sector was at the defined stage of ERM, the responses in each component differed per stratum. Literature indicates that insurance organisations, regardless of stratum within which they are, are faced with similar risks generally. The differing responses could be due to the magnitude of risks that could differ according to unique characteristics of each stratum. The study further recommended an enterprise risk management implementation procedure for the insurance industry in Botswana.
Business Management
D. Admin (Business Management)

碩士
朝陽科技大學
保險金融管理系碩士班
94
The thesis mainly discusses that when financial environment has changed, whether listed and non-listed or holding and non-holding life insurance companies or not makes differences in management efficiency from 2000 to 2004. Uses Data Envelopment Analysis in this study. Input variables include the number of staff members, the number of sales forces, and the business management expenses. , while the output variables include augmentation of reserve, financial revenues, consist of premium from new policies, and premium from continuing policies. Uses CCR and BCC models of Data Envelopment Analysis, observes management efficiency changes for life insurance companies, and advances improve space for opposite inefficiency life insurance companies. Then, uses Malmquist productivity index analyze total factor productivity changes. Finally, Mann –Whitney test is used to inspect if there is any difference of management efficiency between listed and non-listed, holding and non-holding life insurance companies. The results show if decreasing returns to scale in life insurance companies occurs, management efficiency could be improved by method of downsizing the operating scale, On the contrary, enlarging scale of business operation could make management efficiency better. If reduction of wasting human resources could be done, the input variables would be utilized completely. Total factor productivity nearly grow up in life insurance companies whose partial productivity show uptrend is due to the growth of technical change, that means their production management has became better. Between listed and non-listed, holding and non-holding life insurance companies, no obvious differences could be seen among technical efficiency, pure technical efficiency, and scale efficiency.

碩士
國立政治大學
風險管理與保險研究所
104
Recently, many insurance companies in Taiwan increased their investments in foreign countries substantially due to the inadequacy of domestic investment markets. Some insurers started or have been preparing to invest in emerging alternative investment tools such as private equity funds and hedge funds. However,there is a trade-off between return and risk. In this study we utilized the methods developed by Rockafeller and Uryasev (2000) and Campbell, Huisman, and Koedijk (2001) to conduct risk-return analyses for the insurance companies who are interested in alternative investments. Our approach extends the traditional Mean-Variance approach by introducing value at risk (VaR) and conditional VaR as risk measures. We found that the correlations among asset classes were low and alternative investments could enhance the investment efficiency of insurance companies. We suggest loosening some regulations accordingly.

博士
國立交通大學
經營管理研究所
102
The solvency of a life insurance company has become more important in recent years as enterprise risks turn increasingly greater. This paper specifies two simultaneous-equation systems to analyze the relationships between capital and risk. The first simultaneous-equation system investigates the relationships among asset risk, product risk, and capital by using two-stage least squares regression (2SLS) and two-stage quantile regression (2SQR). The second simultaneous-equation system further links operating efficiency into the relationships between capital and risk, examining risk, capital, and operating efficiency of life insurance companies. This paper uses 28 (or 27) Taiwan life insurance companies available each year during the post Risk-Based Capital (RBC) regulation period of 2004-2009. In the first model, empirical results from 2SQR indicate that the relationship between capital and product risk is positive, while the relationship between asset risk and capital shows a reverse pattern. Overall, 2SQR provides stronger evidence than 2SLS. These findings are contrary to previous evidence reported in the U.S. The second model shows more new findings, with results indicating that there is a positive relation between inefficiency and product risk, lending support to the moral hazard hypothesis whereby poor performers tend to seek more product risk over high performance. At the same time, efficient insurers are seen as taking higher asset risk than inefficient insurers. The results also show that the relation between capital and product risk is positive, while the relation between capital and asset risk is negative. Finally, this paper presents a negative relationship between inefficiency and capital level, indicating that life insurers with more capital operate more efficiently than less well-capitalized insurers.

M.A. (Information Science)
As organisations exist in the constantly overwhelming information age, more emphasis is put on information as resource and the economic value it has in the organisation. The South African life insurance industry is no different from other organisations and deals with a vast number ofinformation that flows through these organisations daily. In this study, the role of information, the management of information and the existence and implementation of an information policy are examined. The appointment of an information manager to manage information is also examined. The study was done to determine the level of importance and value of information in this type of industry and whether the South African insurance industry has identified information as a valuable resource in the organisation. Information as resource and the management thereof as competitive advantage is studied. The research methods applied were to carry out a literature study on information and its role as resource in an organisation, the roles and responsibilities of an information manager and the advantage and implementation of an information policy in the organisation. A questionnaire was compiled and sent to all the major South African life insurance companies to determine the above aspects and the current status in this industry.

Business process reengineering (hereafter referred to as BPR) was revolutionary during the early and mid 1990’s. Numerous authors wrote articles and books to appraise the concept and discuss the possible benefits of it. However, the question could be asked whether BPR is still of any relevance in 2001 in South Africa? This question was answered by James Champy in an article published in the Sales & Marketing Management magazine (1998:26) where he stated that: “It has hardly begun. Why? Principally, because we have yet to experience the full effect that the ubiquity of information technology (hereafter referred to as IT) will have on the way we operate. By (that) I mean the omnipresence of highly portable computing and telecommunications devices in the workplace and in the home, combined with the increase in computer literacy and comfort on the part of most adults…and then there is the exploding Internet phenomenon that has provided a platform for universal communications, along with a whole new infrastructure for doing business.” The opportunities for BPR that go hand in hand with the implementation of e-business are numerous and makes BPR as relevant as e-business itself. This is supported by an article in Computerwold published in December 2000: “Today, e-business initiatives have made the need to streamline, integrate and automate processes even more pressing” (Ulrich, 2000) With electronic business still a mere infant in South Africa, and specifically in the short-term insurance industry, its full development can have significant implications on the way businesses operate. A second motivational factor for undertaking this research was personal awareness of the following misconceptions by certain businessmen: - That BPR refers to restructuring, retrenchments and the implementation of IT systems; and - That BPR should be implemented in industries where inventory plays a significant role, e.g. the manufacturing or distribution industries. The following chapters of this dissertation will strive to prove that these are misconceptions and that BPR is based on sound business principles, which include much more than downsizing or the implementation of new IT systems. Very often, a negative connection is drawn with BPR where companies claimed that they have implemented BPR, but in fact, only retrenched staff or implemented new information systems. The dissertation will further strive to prove that the implementation of BPR can also be introduced in industries with no inventory, such as the financial services industry, and with spec ific reference to the short-term insurance industry.
Prof. T.L. Voogt

by Wong Shun Yin.
Thesis (M.Phil.)--Chinese University of Hong Kong, 1997.
Includes bibliographical references.
Abstract --- p.i
Acknowledgements --- p.ii
Table of Contents --- p.iii
List of Tables --- p.vii
Chapter CHAPTER ONE: --- INTRODUCTION
Chapter I. --- RESEARCH AGENDA --- p.1
Chapter II. --- RESEARCH METHODOLOGY --- p.3
Chapter III. --- OVERVIEW --- p.4
Chapter CHAPTER TWO: --- INTERACTIVE SERVICE WORK IN INSURANCE COMPANIES --- p.5
Chapter CHAPTER THREE: --- HONG KONG'S INSURANCE INDUSTRY AND ITS NATURE
Chapter I. --- DEVELOPMENT OF HONG KONG INSURANCE INDUSTRY --- p.12
Chapter II. --- FUNCTIONS OF LIFE INSURANCE --- p.13
Chapter III. --- NATURE OF SERVICES --- p.14
Chapter A) --- FUNCTIONS OF LIFE INSURANCE FROM THE VIEWPOINTS OF CUSTOMERS --- p.14
Chapter i) --- FUNCTION OF FAMILY AND ECONOMIC PROTECTION --- p.15
Chapter ii) --- FUNCTION OF INVESTMENT --- p.15
Chapter iii) --- FACTORS IN AFFECTING THE NEEDS OF LIFE INSURANCES --- p.16
Chapter iv) --- VARIATIONS OF THE NEED --- p.17
Chapter a) --- BASIC NECESSITY? --- p.18
Chapter b) --- EFFECTS OF HONG KONG SOCIAL POLICIES --- p.19
Chapter c) --- EFFECT OF FRINGE BENEFITS FROM COMPANIES --- p.19
Chapter d) --- INTANGIBLE NATURES OF INSURANCE --- p.19
Chapter 1) --- UNTOUCHABLE --- p.19
Chapter 2) --- CONCEPTUAL --- p.19
Chapter 3) --- DIFFICULTY IN EVALUATION --- p.20
Chapter 4) --- LONG-TERM COMMITMENT --- p.21
Chapter e) --- POOR SERVICE QUALITY --- p.21
Chapter v) --- NATURES OF LIFE INSURANCE INDUSTRY --- p.23
Chapter a) --- PERSONAL SERVICE FROM AGENCY SYSTEM --- p.23
Chapter b) --- UNIQUE SERVICE QUALITY OF AGENTS AND PROFESSIONAL TRAINING --- p.24
Chapter 1) --- POOR QUALITY OF SOME AGENTS --- p.24
Chapter 2) --- IDEAL TYPES OF GOOD INSURANCE AGENTS --- p.24
Chapter c) --- IMPORTANCE OF IMAGES IN LIFE INSURANCE COMPANIES --- p.25
Chapter B) --- FUNCTIONS OF LIFE INSURANCE FROM THE VIEWPOINTS OF AGENTS --- p.25
Chapter i) --- FUNCTION OF PROTECTION --- p.26
Chapter ii) --- FUNCTION OF INVESTMENT --- p.26
Chapter iii) --- MARKET --- p.26
Chapter iv) --- INACTIVE CUSTOMERS --- p.26
Chapter a) --- CAUSES
Chapter 1) --- TRUST PROBLEM --- p.26
Chapter 2) --- NEGATIVE IMAGES FROM MASS MEDIA --- p.27
Chapter 3) --- INTANGIBLE AND LONG-TERM COMMITTED NATURE --- p.27
Chapter v) --- EDUCATION AND AGENCY SYSTEM --- p.27
Chapter a) --- THE AGENCY SYSTEM --- p.28
Chapter 1) --- SOLE PARTNERSHIP --- p.28
Chapter 2) --- PROFESSIONAL TRAINING - APPRENTICE SYSTEM --- p.28
Chapter vi) --- LONG-TERM COMMITTED CAREER --- p.29
Chapter vii) --- PERSONAL SERVICES --- p.30
Chapter CHAPTER FOUR: --- RECRUITMENT: A START OF BEING A GOOD AGENT
Chapter I. --- INTRODUCTION --- p.31
Chapter II. --- RECRUITMENT IN HONG KONG --- p.31
Chapter III. --- RECRUITMENT TALK: A HINT --- p.37
Chapter CHAPTER FIVE: --- TRAINING: TRANSFORMATION TO BE GOOD AGENTS
Chapter I. --- INTRODUCTION --- p.40
Chapter II. --- TRAINING IN HONG KONG'S LIFE INSURANCE INDUSTRY --- p.41
Chapter A) --- TRAINING FROM PROFESSIONAL UNITS --- p.41
Chapter B) --- TRAINING FROM INSURANCE COMPANIES --- p.41
Chapter i) --- PRELIMINARY TRAINING FROM INSURANCE COMPANIES --- p.41
Chapter ii) --- TRAINING FROM UNITS AND MANAGERS --- p.42
Chapter iii) --- FURTHER TRAINING FOR THE ESTABLISHED AGENTS --- p.46
Chapter III. --- TRAINING MISSION: BE PRODUCTIVE --- p.47
Chapter A) --- POWER OF MOTIVATION --- p.48
Chapter i) --- FAIR GAME --- p.48
Chapter ii) --- JOB SATISFACTION AND CONTRIBUTION --- p.48
Chapter iii) --- CONFIRMATION OF RIGHT CHOICE --- p.49
Chapter iv) --- GREAT MARKET --- p.49
Chapter B) --- SELLING TECHNIQUES --- p.50
Chapter i) --- CREATIVE SALES --- p.50
Chapter ii) --- RIGHT ATTITUDE TOWARDS SELLING --- p.50
Chapter iii) --- HANDLING REJECTION --- p.51
Chapter a) --- LOCATING THE RIGHT CUSTOMERS --- p.52
Chapter b) --- TO APPROACH --- p.53
Chapter c) --- INTERVIEW TECHNIQUES --- p.54
Chapter d) --- CLOSING TECHNIQUES --- p.54
Chapter C) --- EFFECTS OF MANAGEMENT --- p.56
Chapter i) --- CLOSE SUPERVISION --- p.56
Chapter a) --- UP-LINE UNIT TRAINING --- p.56
Chapter b) --- UNIT TRAINING --- p.58
Chapter CHAPTER SIX: --- SELLING: SURVIVE OR DIE
Chapter I. --- INTRODUCTION --- p.62
Chapter II. --- SITUATIONS OF AGENTS IN SELLING --- p.64
Chapter III. --- MOTIVATION IN THE INSURANCE MANAGEMENT --- p.74
Chapter IV. --- FINAL DESTINATION OF AGENTS: SURVIVE OR DIE --- p.82
Chapter CHAPTER SEVEN: --- CONCLUSION --- p.86
ENDNOTES
Chapter APPENDIX I --- BACKGROUND OF INTERVIEWEES
Chapter APPENDIX II --- PREFERRED EDUCATION AND TRAINING OF HONG KONG'S INSURANCE EMPLOYEES IN SALES LEVEL FROM 1981 TO1989
Chapter APPENDIX III --- ADVERTISEMENT OF ABC INSURANCE COMPANY'S RECRUITMENT
Chapter APPENDIX IV --- INTERVIEWEES' LAW OF AVERAGBE
BIBLIOGRAPHY

M.Bibl.
Information is increasingly recognised and managed as a resource. In any organisation it contribute directly to the performance of all functions. The purpose of this study was to use Burk and Horton's methodology to conduct an information audit to an assurance enterprise to identify the company's strategic information. This was to prove the importance of information as a corporate resource for competitive advantage. A literature study was undertaken as well as an overview of the method and results of an information audit. The information audit was only done for the library and the law administration department. The literature study gave the necessary overview of the information audit method, but the empirical investigation provided the value of the information. Information was collected on three different forms. The first was the inventory which was divided in three sections: sources, services and systems. The second form was the file surrogate card, which contained all the information of the law files. The third form was a questionnaire to establish the information needs of the users as well as the availability of the information they need to fulfil their tasks. The information flow was also monitored in the company. Although the "lnfoMap" -method of Burk and Horton was used, it was discovered that this method had several shortcomings regarding the practical application, such as the calculation of the monetary value of the information. After an analysis of the research results it is evident from the shortcomings and needs that have come to light regarding the management, objectives, use, value and cost of information assets that it is necessary to formulates an information policy and that the conclusion can be drawn that the information audit provides meaningful data that can serve as the starting point for developing a formal information management plan for this insurance company.

M.B.A.
Currently in the long-term insurance and investment industry, the failure rate of brokers and agents are so high that thousands of rands are lost every month in training and development of these consultants. "The average cost to bring an agent through the first four critical years in the business can be as high as $250,000 in some companies" (King, 1999:7). Brown and Hinchcliffe, (1999:16), acknowledges that the turnover rate is approximately fifty percent within the first year of a new recruit joining the industry. These statistics indicate that the cost and failure rate of consultants could have a significant impact on the profitability of an insurance company. But when does a consultant actually fail? Failure of a consultant results when he/she does not achieve contract status (i.e. has low levels of production) as well as a consultant that resign from the industry by cancelling his/her contract to promote and sell insurance and investment products with a life insurance company. Considering the statement by King (1999:7), that insurance companies spend fortunes on training, this must aid in reducing the failure rate of consultants. It is believed that the support staff and business principles of Liberty Life Association of Africa Limited (Liberty) are of high standard and that the formal training received by new recruits are also of the highest standards (including methods of training) (Dotta, 1999:100). Furthermore, the training programmes and curriculum are governed by law to meet governmental regulations. Thus the question is posed: If the support services, training and development is fulfilling the needs that new and existing consultants might need to succeed, why then is there still such a high failure and turnover rate of financial consultants within Liberty? To determine possible factors that can cause failure it is necessary to analyse the insurance industry as well as the nature of the consultants' duties. This will enable a fundamental understanding of the career as well as the people performing the tasks thereof. The aim of this research project is to analyse current employee data, recruiting and management procedures so as to establish possible trends for successful recruiting and management of fmancial consultants in the insurance industry with particular reference to Liberty Life.

The construction industry is generally characterised by limited implementation of green logistics. With that in mind, this study aimed to examine the nature and extent of green logistics practices in large construction companies in Botswana. Although empirical studies have analysed green supply chain in the construction industry, most of them have not addressed the challenges and prospects of adopting green logistics by construction companies in a developing country like Botswana. Project Managers were interviewed after which a thematic analysis was used to interpret the qualitative results. Thereafter, a comparative analysis was done between the results obtained from the interviews and from extant literature. The findings showed that the adoption of the green logistics strategies was aligned more to economic reasons than environmental ones. The findings further showed that until and unless the construction, technical and administration issues are addressed, the adoption of green logistics will continue to be a challenge for the construction industry in Botswana
Centre for Transport Economics, Logistics and Tourism
M. Com. (Logistics)

碩士
淡江大學
保險學系保險經營碩士班
97
Recently some researchers were found that the demographic variables affect asset’s rate of return. Based on these, asset and liability value are correlated with mortality rate is assumed in this paper. The investment decision, underwriting decision and capital decision are three risk management tools to hedge demographic risks for life insurance companies We extend the Gründl, Post & Schulze (2006) to investigate these decisions to maximize shareholder value.

碩士
銘傳大學
風險管理與保險學系碩士在職專班
104
Since 2009 the implementation of the fire insurance rate liberalization Phrase III, non-life insurance industry faces more intensifying market competition. This case study aims to measure the efficiency in local non-life insurance industry due to liberalization of fire insurance rate. Investigation data are collected from 2010 to 2014, the input variables are net losses and investment asset, the output variables are retained premiums and investment profit, analysis method use is data envelopment analysis, initially we start by obtaining the data on technical efficiency , pure technical efficiency and scale efficiency of 14 local non-life insurance industry at the year 2014, by using Malmquist productivity analysis, investigated the change of efficiency in between 2010 to 2014, the result shows that there is positive effect on rate liberalization by three phases. In the end using Tobit regression to investigate the factors that might affect the operation efficiency, result shows the retained premium ratio and the number of contact offices have an obvious positive effect on operating efficiency, however, the portfolio and market share of fire insurance to the company has an opposite effect.

碩士
樹德科技大學
金融與風險管理所
96
As the international trend of financial liberalization, financial marketing of goods are also move toward to comprehensive and diversified. The financial spending habits of consumers from passive acceptance of commodities, changes to search for market information, and goods value. So the financial industry must constantly strengthen the innovation and expansion of goods and services to increase market competitiveness. Based on the interactive relations and cross-marketing of the use of competitive advantage, financial products for sale in other financial institutions, it can help consumers to buy the convenience of the other financial institutions, in addition, that will increase substantial income; companies can reduce costs, risk diversification and increase revenues extended enterprise life cycle. On the basis of domestic 2001 financial holding law by which the banking industry can sell insurance products, but based on commercial principles of balance, the financial authorities also announced for the life insurance industry should pay attention to wealth management business matters in 2006, that is prompted Taiwan's insurance financial formation, but insurance is still in the embryonic stage, nowadays financial industry focus on wealth of management business, Therefore insurance finance of formation must have integrity and correct business strategy. In Taiwan, financial industry cooperation model mostly from banking industry to leap over to interbank insurance business management, as the research subject of bank insurance business, but the life insurance industry also selling the Bank of goods of the financial insurance is still the subject of a problem. This study will look for management business licenses of financial insurance business life insurance companies to explore the theme, the study using the SWOT analysis model, for insurance under the financial wealth management business case study to the external environment brought about the company's opportunities and threats, and advantages and disadvantages of the internal analysis, to understand the insurance company to operate cases of financial advantages and weaknesses. Also, this study use Five Forces Model to analysis the insurance financial strength outside of competition; in addition, the study use resource-based theory to analysis insurance internal of the financial resources and core competencies to explore its lasting competitive advantage, STP theory and 4P theory for the development of marketing strategy, and then summed up of insurance company case studies of the financial strategy and the implementation of the program, through case studies on companies discussion and analysis of the results of interviews with the entire data, to understand the operation of its insurance financial strategy in order to facilitate the implementation of the development of their business strategy planning. This study of the case studies can experience the life insurance industry and the model for the establishment of financial insurance business strategy, process of reference to help the insurance financial feasibility study of business strategy.

碩士
國立臺灣大學
財務金融學研究所
99
When mentioning the risk management or risk index, we usually use VaR to deal with the risk, which is developed by JPMorgen Chase at 1990s. VaR is a widely used risk index of the risk of loss on a specific portfolio of financial assets. It is defined as a threshold value such that the probability that the mark-to-market loss on the portfolio over the given time horizon exceeds this value is the given probability level. However, there are some limits on it. For example, how to determine the significance level is not clear. And VaR method totally ignores the gain side and the “tail” loss. In this paper, I use a new risk index “Riskiness” to deal with the risk of insurance companies, and try to compare with the VaR and the traditional methods.

碩士
朝陽科技大學
企業管理系碩士班
100
The 21th century is an era of knowledge management. The only way to step out the competitive advantage is accumulating、sharing and creating knowledge. The insurance industry is a knowledge concentrated industry which faces intensive competitions. And the insurance policies they sell are virtual and diversified ones. Thus the managers must make the most suitable strategy to the management system within knowledge management system. This study choose insurance companies in Taichung and Nantou area as samples. The period was from February to June, 2011. This study tried to find out the priorities of key success factors and the view of introducing knowledge management system and judging performances from sellers with leveler analyze and questionnaires. This study offers followed suggestions to improve the performances: 1、 The factors for managers to introduce knowledge system by piriorites are training within education、clear vision and good organizations sphere for communicating and sharing. 2、The key success factor for the sellers to introduce knowledge management system is focus on Information Technology. Thus as the managers are pushing, they have to integrate the business culture and knowledge management system and according to the company’s characteristics to develop the most suitable solution. Finally, the company will digitalized its’ knowledge to enchance the competitive advantages and better the performances.