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1
Nyagadza, Brighton, and Tatenda Nyauswa. "Parametric insurance applicability in Zimbabwe: a disaster risk management perspective from selected practicing companies." Insurance Markets and Companies 10, no. 1 (November 27, 2019): 36–48. http://dx.doi.org/10.21511/ins.10(1).2019.04.
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This study seeks to explore the possibility of adopting parametric insurance to manage disaster risk in Zimbabwe. The background of the research is caused by recurrent natural disasters and the failure of the government to offer disaster relief after such events. The main objective of the research is to come up with the success factors of adopting parametric insurance to manage disaster risk and its effectiveness in African countries. The study population consists of 32 employees from seven reinsurance companies and 5 from a regulatory body. Self-administered questionnaires and interviews were used to collect the data. The study assumes that Zimbabwe does not have sufficient infrastructure to establish parametric insurance, and the lack of financial capacity is another major problem. 61% of respondents confirmed that they were underwriting natural disasters and the remaining 39% were not. The natural disasters that are being covered in insurance market and under which insurance products are used were at 61%. About 39% of the reinsurance companies that are not underwriting natural disasters cited the major reasons why they do not. Most of respondents confirmed that there was no support from the government to underwrite catastrophic risks. 57% of the respondents indicated that it is not possible to adopt parametric insurance, whilst 43% of the respondents agreed that it was practical. Recommendations are made for the government and insurance providers, which include use of catastrophe bonds, government incentives and support, the creation of a clearing house and the involvement of international organizations and developing countries in adopting parametric insurance.
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Obert, Sifile, Zimbiti Phillip Okay, and Chavunduka Desderio. "Determinants of Unethical Behavior by Stakeholders in the Medical Insurance Industry in Zimbabwe: An African Humanism (Hunhu/Ubuntu) Approach." Engineering Management Research 5, no. 2 (October 26, 2016): 63. http://dx.doi.org/10.5539/emr.v5n2p63.
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There is a continuous decline in the performance of medical insurance companies in Zimbabwe resulting in these companies failing to meet their obligations to stakeholders as seen by failure to pay wages, policy holders’ medical bills and dividends to shareholders. While research shows <em>Hunhu/Ubuntu </em>as a requirement for ethical practices that bring about good business and moral practices, it does not show how <em>Hunhu/Ubuntu </em>influences stakeholders, employee behaviour and organizational performance. Due to this glaring gap, the study was designed to investigate: the causes of unethical behaviour in the medical insurance industry, the attributes of African Humanism and how it influences people’s behaviour in medical insurance firms. A case study research design was used where both quantitative and qualitative methodologies were employed. Closed and open-ended questionnaires, semi-structured interviews and focus group discussions were conducted. Chi-square tests were used for data analysis. Findings of the study show that <em>Hunhu/Ubuntu</em> moulds good behaviour and is essential for avoiding risky behaviour which curtails organizational performance<strong>.</strong>
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Khumalo, Reinford. "Decision-making structures for successful management in Zimbabwe." South African Journal of Business Management 30, no. 1 (March 31, 1999): 14–22. http://dx.doi.org/10.4102/sajbm.v30i1.751.
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This article discusses one of the management attributes discovered about Zimbabwe's most successful companies - decision-making structures. Seven most successful companies from among those quoted on the Zimbawean Stock Exchange (ZSE) were selected in terms of financial and macroeconomic criteria in their industrial categories. The research for attributes was mainly qualitative - consisting of interviews of chief executives, departmental managers, skilled, semi-skilled, and unskilled employees of the companies. The interviewees were also asked to complete a quantitative instrument, a semantic differential. Data from the interviews were content analysed. The findings showed that these companies have both centralised and decentralised decision-making structures that are in strata. The strata consist of those decisions that concern policy matters and are made at top management level and those at middle management level that take into account the input of the employees. This attribute has had some influence in the success of these companies and could thus contribute to the success of other less successful companies with a socio-economic situation similar to that of Zimbabwe's, the host country in which the study was conducted.
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Anisa, Ela, and Alkadri Kusalendra Siharis. "KOMITMEN ORGANISASI DALAM IMPLEMENTASI PROGRAM BPJS KETENAGAKERJAAN SEBAGAI BENTUK PERLINDUNGAN UNTUK MENINGKATKAN KESEJAHTERAAN KARYAWAN (Studi Pada BPJS Ketenagakerjaan Cabang Magelang)." Jurnal Kesejahteraan dan Pelayanan Sosial 1, no. 1 (May 27, 2020): 1. http://dx.doi.org/10.52423/jkps.v1i1.12581.
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Companies that have an organizational commitment to implement the BPJS Employment Program which aims to provide basic protection to employees to overcome socio-economic risks through social insurance can improve employee performance because employees feel prosperous. The purpose of this study was to determine the types of BPJS employment programs and their effects on employee welfare. The research method used is a qualitative research method in the form of interviews with four employees from different companies who have implemented the BPJS employment program and observations at the BPJS Employment office. The results of this study indicate that companies must commit to implementing four BPJS employment programs, namely: Work Accident Insurance (JKK), Death Insurance (JKM), Old Age Insurance (JHT), Pension Insurance (JP) so that employees feel protected. The implementation of the BPJS Employment program can be said to be quite good, as seen from the increasing number of companies that receive BPJS wage employment in the Magelang branch office each year.Keywords: Organization Commitment, Employment BPJS, Employee Welfare
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Surahio, Mahnoor, Preh Bhatti, Vinesh Kumar Kumar, and Rashid Qureshi. "Satisfaction Level of Health Insured and Financial Profitability of Health Insurance Companies from Health Insurance Product." Journal of Public Value and Administration Insights 2, no. 4 (December 29, 2019): 17–20. http://dx.doi.org/10.31580/jpvai.v2i4.1155.
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The research is focused on finding whether the insurance companies are providing health insurance to their clients are enough to meet their expectations or the employees are bound to pay the premium for availing the employer-based health insurance. Another part of the study is focused on finding the financial profitability of health insurance companies particularly, from the health insurance product they are offering to their clients. The premium these companies charging are enough to generate the profitability of health insurance companies or there is not any significant impact on their profitability from this product. It is obvious that a sick employee would be less interested in his or her work and the ratio of absenteeism will increase. The main purpose is to evaluate if providing health insurance is a profitable activity for both sides. This research was conducted through primary data; the data has been collected with the help of adopted questionnaire and a sample size is of 70 respondents. It is found from the research that employees are moderately satisfied with employer-based insurance facility and there is not any significant difference between premium paid and utilized. So, insurance companies are earning less from health insurance product.
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Witkowska, Justyna. "Stakeholders on the Insurance Market." Olsztyn Economic Journal 9, no. 3 (September 19, 2014): 215–23. http://dx.doi.org/10.31648/oej.3177.
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The aim of this study was to identify and describe the stakeholders on the insurance market and their expectations towards insurers. Insurance companies conduct operations on the financial market by collaborating with various market actors, including the owners, managers and employees of insurance undertakings, exclusive agents, independent agents, insurance brokers, private and institutional clients, banks, reinsurers, outsourcing companies, market competitors, insurance organizations, providers of business support services, research and development organizations and members of the community. Each stakeholder group has specific expectations towards insurers.
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Upadhyay, Jitendra Pd. "Personnel Control Practices in Insurance Companies of Nepal." Journal of Business and Social Sciences 1, no. 1 (December 3, 2018): 27–34. http://dx.doi.org/10.3126/jbss.v1i1.22825.
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Background - Personnel controlling is used to achieve best possible use of employees and their development to get the maximum benefit for the company. It will be present not only in the human resource planning and staff assessment, but also in selection, professional development, health and safety
Purpose – The purpose of the study is to analyze the practices of personnel control in Insurance Companies of Nepal
Methodology – Due to the specific nature of the research objectives, descriptive cum analytical research design has been used.
Findings – All the insurance companies have applied the personnel control approaches in their company.
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Upadhyay, Jitendra Pd. "Personnel Control Practices in Insurance Companies of Nepal." Journal of Business and Social Sciences 2, no. 1 (December 3, 2018): 27–34. http://dx.doi.org/10.3126/jbss.v2i1.22825.
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Background - Personnel controlling is used to achieve best possible use of employees and their development to get the maximum benefit for the company. It will be present not only in the human resource planning and staff assessment, but also in selection, professional development, health and safety
Purpose – The purpose of the study is to analyze the practices of personnel control in Insurance Companies of Nepal
Methodology – Due to the specific nature of the research objectives, descriptive cum analytical research design has been used.
Findings – All the insurance companies have applied the personnel control approaches in their company.
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Naveena, L., and S. Venkatesh. "An Comparative Study of Pre and Post Health Insurance Schemes in Karnataka." Shanlax International Journal of Management 8, S1-Feb (February 26, 2021): 204–9. http://dx.doi.org/10.34293/management.v8is1-feb.3777.
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The health insurance schemes are very necessary to everyone in Indian country are with regards improve their life styles and which is including for very essential for every one for improving their health and some of strategies to improve the own insurance companies potential even insurance companies are majorly help to the employees their health and family members. Insurance Corporation is a sector of Health Insurance that has emerged as a major growth driver and as the most prominent segment in the expansion of insurance space. The study highlighted that health insurance and health insurance schemes are one of the largest Social Security Schemes of the world where no upper limit on medical expenditure has been fixed for beneficiaries. The study was made on the overview of health insurance Corporation of India and tries to bring out the banking details of provisions available to customer and persons and their dependents both in and banking facilities under the Employees of Karnataka state.
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Uddin, Mohammad Jashim, Md Masud Chowdhury, Masuma Yasmin, and Aklima Akter. "Job Satisfaction of the Employees of the General Insurance Companies in Bangladesh." Global Disclosure of Economics and Business 5, no. 1 (June 30, 2016): 7–18. http://dx.doi.org/10.18034/gdeb.v5i1.124.
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This study investigates the employees’ job satisfaction of general insurance companies in Bangladesh. A questionnaire was utilized to collect primary data from both public and private general insurance companies. The first part of the questionnaire comprises of the demographic profile of the respondents and the last part indicates the key measuring variables on a Likert scale ranging from 5 (strongly agree) to 1 (strongly disagree) of job satisfaction. The total number of respondents for this study was 385. 74.80 percent of the total respondents have taken from the private general insurance companies, and the remaining percentage from the public general insurance company. 70 percent of the total respondents were male respondents, and 30 percent of the total respondents were female respondents. Factor analysis and correlation matrix have been conducted to analyze the collected data. This study postulates that employees of general insurance companies have positive as well as negative feelings. Three factors reflect positive feelings toward their jobs. These factors are pay and promotional potential, the well-organized chain of command and general working condition. On the other hand, two factors are responsible for negative feelings. These factors are poor team spirit and poor job security. This paper also advocates some recommendations to maximize the positive feelings and to minimize the negative. The proper higher authority should ensure participating decision method to take any decision, the fair delegation, and direct relationship with sub-ordinates to enhance the team spirit for minimizing the dissatisfaction of the employees and should ensure the job security of the employees to get their best effort to achieve the organizational goal.
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Gautam, Prakash Kumar. "Human Capital Management and Work Behavior: Evidence from Nepali Life Insurance Companies." International Research Journal of Management Science 4 (December 1, 2019): 48–64. http://dx.doi.org/10.3126/irjms.v4i0.27885.
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Background: Human resource is dynamic and complex ever because of changes in local, regional and global dimensions. Managing people for optimal use of their competencies for organizational purpose has no options. Employee motivation and employee turnover is being the central issue in the modern organizations, corporate movement of competent people is being the regular corporate news in business arena. Human capital management (HCM) helps them to be satisfied and being positive to their work and the organization. It helps organization to cope with turnover challenge and deviant workplace behavior. Employee motivation, satisfaction, job burnout, turnover are being common challenges to the management. To cope with such challenges, organizations should have strategic focus on human capital management.
Objectives: This study aims to explore the situation of human capital management in Nepali insurance companies and the employee’s satisfaction from human capital management. The study also aims to examine the association between satisfaction from HCM and workplace behavior. To examine the gender influence on workplace behavior of the employees created by HCM.
Methods: This study was conducted with correlational research design. Primary data for each variable was collected from 402 employees of different seven life insurance companies having at least five years of business experience. To observe the current HCM practices, 3-Point statements were asked. Structured questionnaire with 5-Point Likert Scale was used to collect responses on satisfaction from HCM and the satisfaction towards positive workplace behavior. Descriptive statistics, Pearson correlation, and independent sample t-tests were used to examine the objectives.
Result: Results of the study revealed that Nepali insurance companies have maintained human capital management causing employee satisfaction. Employees have reported that they have positive workplace behavior. Female employees have more positive workplace behavior of employees. Employee’s satisfaction from HCM is obtained having positive relationship with workplace behavior.
Conclusion: Nepali insurance companies have satisfactory HCM effective to motivate their employees. Employee’s satisfaction leads for positive workplace behavior. There is no gender difference in satisfaction on HCM while female have more positive workplace behavior in comparison to their male counterparts.
Implications: To cope with intense competition among the competitors in Nepali insurance industry, this study provides strong evidence to focus on HCM and positive workplace behavior.
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Watzman, Nancy, and Patrick Woodall. "Managed Health Care Companies' Lobbying Frenzy." International Journal of Health Services 25, no. 3 (July 1995): 403–10. http://dx.doi.org/10.2190/g11p-26yf-dq6j-ekhv.
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The top dozen national managed health care companies and two industry trade groups spent at least $2,023,041 on lobbying expenses and campaign contributions to key lawmakers during last year's health care debate, according to an analysis of Federal Election Commission data and federal lobbying disclosure forms. Five of the top six spenders are large insurance companies that are rapidly transferring their business from traditional indemnity insurance to HMOs. Over half—52 percent—of campaign donations from the top managed care companies' and trade associations' PACs and employees went to members sitting on the five Congressional committees with jurisdiction over health care reform.
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Dr. Balu L., Dr. Ramesh Unnikrishnan, Binu B. Pillai,. "Role of Employee Engagement Frame Work In Private Sector Insurance Companies." Psychology and Education Journal 58, no. 2 (February 4, 2021): 101–8. http://dx.doi.org/10.17762/pae.v58i2.1058.
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The current examination study was limited to just private area insurance agencies arranged in Pathanamthitta District, Kerala, India. The investigation was exact; in this way, the quantitative examination was utilized for information social occasion and examination. The investigation was led through the review strategy. To do the examination, the organized survey procedure was utilized to increase knowledge into the issues investigated in the examination. For the investigation, both essential and auxiliary information was gathered, to accomplish the figured destinations. The essential information was gathered from employees working in all frameworks. The optional information was gathered from diaries, books and sites. This investigation depends on information gathered from five Private insurance agencies in Pathanamthitta locale. The rise of the Private area insurance agency has achieved huge changes in the occupation market. The dependability of the survey was tried with the Cronbach's Alpha technique utilizing factual programming. All the Descriptive examination and measurable inferential investigation were finished utilizing SPSS and P-esteem subtleties just displayed for translations. Karl Pearson's relationship coefficient is utilized to examine and decipher the information. The aftereffects of the examination demonstrate that employees are not exceptionally connected with on account of perspectives, for example, uneasiness with respect to the association culture, deficient assets uphold, resistance of-employees uphold, disappointment in the activities and conduct of the senior administration, disturbance concerning organization Human Resources strategies and techniques and upsetting chances. It is assumed that the aftereffects of the current investigation will be of significance to associations, which try to upgrade the degrees of engagement of employees' status. Further, the consequences of the examination would illuminate the segments of employee engagement and hierarchical adequacy. The result of the examination would likewise help associations a lot in detailing reasonable projects and suitable strategies to improve authoritative adequacy.
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Muttaqiin, Ninnasi. "Analysis of Household Financial Management for Work from Home Affected Employees (Case Study on Employees of Insurance Industry Companies in Surabaya)." Accounting and Management Journal 4, no. 2 (December 29, 2020): 105–12. http://dx.doi.org/10.33086/amj.v4i2.1827.
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This study was conducted to examine the effect of work from home policy caused by coronavirus epidemic on household financial management of insurance industry employees in Surabaya. This study uses a qualitative method by conducting interviews. The variables used are household consumption, household savings, household investment, household insurance, and retirement planning. The sample selection using purposive sampling method, obtained seven sources who then provide answers to questions during in-depth interviews. The results showed that the work from home policy had a very significant effect on the condition of household financial management in the variables of household consumption, household savings, and household investment. On the other hand, work from home policy does not really affect household insurance management and retirement planning for employees of the insurance industry in Surabaya.
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Metin, Hasan, Gjylbehare Llapi, and Armend Muja. "Insurance Sector Analysis in Turkey: An Empirical Study." European Journal of Economics and Business Studies 9, no. 1 (October 6, 2017): 221. http://dx.doi.org/10.26417/ejes.v9i1.p221-234.
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The purpose of this study is to comprehend the statistical relation between the amount of turnover produced by an employee in insurance companies in Turkey, used as a dependent variable. Whereas, the independent variables are three.The first independent variable is the ratio of number of staff horldiong a Bachelor (BA) over the number of all employees of each insurance company. The second independent varaible is the ratio of the number of sales department crew over number of all employees of each insurance company. The third independent variable is the ratio of number of male salespeople over the number of all sales department of each insurance company. Results indicate that the ratio of the number of male sales department crew over the number of all employees of each insurance company has a negative effect on the average turnover produced by one employee. Moreover, the ratio of number of male salespeople over the number of all sales department of each insurance company is found to have positive effect on the dependent variable. Lastly, the ratio of the number of staff holding a BA degree over the number of all employees of each insurance company has no significant effect on the dependent variable.This study also provides a summary of the basic terms of the concept of insurance and risk. Considering that the profitability is a very crucial issue for the insurance sector as for all other sectors, the profitability ratios of the insurance companies for the last 10 years are provided and analyzed within the study.
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Hove, George, and Thomas Rathaha. "The Extent Green Marketing Has Been Embraced in the Construction Industry - Employee Perspective in Zimbabwe." International Business Research 14, no. 6 (May 12, 2021): 78. http://dx.doi.org/10.5539/ibr.v14n6p78.
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Purpose
The purpose of this research was to examine the awareness of employees about green marketing, the initiatives taken by contractors and the challenges encountered in implementing the concept in the construction industry in Zimbabwe.
Methodology
The study was quantitative using an explanatory research design with the study population limited to construction companies registered with CIFOZ. A sample of 182 executives representing construction companies completed the questionnaire. The data were analysed using STATA version 12.
Findings
The findings showed a positive awareness in employees to green marketing in the industry and a positive perception of practices as evidenced by the construction employees. However, there are challenges in the implementation of green marketing, including a lack of green standards.
Contribution and value add
Based on employee perspectives, a conclusion was reached that green marketing has been embraced in the Zimbabwean construction industry, and there are green marketing initiatives undertaken by the construction companies in that country. The results of this study contribute to the body of academic knowledge, hence the theory base that was used to drive this study could be amended as a result of the insights from the study.
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Mustafa Magablih, Ali, and Ahmad Farhan Alshira’h. "Impact of the Effectiveness of the Internal Control System on the Reduction of Fraud in the Jordanian Public Insurance Companies." International Journal of Business and Management 16, no. 3 (February 5, 2021): 84. http://dx.doi.org/10.5539/ijbm.v16n3p84.
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The study aimed to figure out the effectiveness of the internal control system on the reduction of fraud in the Jordanian public insurance companies. To achieve the objectives of the study, a questionnaire was prepared and the descriptive analytical approach was adopted. The study population consisted of all the employees in te Jordanian public insurance companies under the titles (Manager / Deputy Manager, Department Manager, Head of Department, and Auditor). The study sample consisted of 168 male and female employees, and the data were analyzed using the (SPSS2) to achieve the objectives of the study.
The study concluded that there is a statistically significant impact at sig. (α≤0.05) for the dimensions of the effectiveness of the internal control system to reduce fraud.
The study recommended the need that the companies stress on acquiring the skills of successful interaction skills by the employees.
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Karlina, Dona, Isni Andriana, and Didik Susetyo. "The Effect of Attitude, Subjective Norms, and Perceived Behavioral Control on Whistleblowing Intentions with Religiosity As Moderator." Accounting and Finance, no. 2(92) (2021): 130–35. http://dx.doi.org/10.33146/2307-9878-2021-2(92)-130-135.
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Fraudulent acts or ethical violations committed by staff or senior management can not only cause serious damage to the company's reputation and operations, but also lead to bankruptcy. According to the Corruption Perception Index and the level of internal ethical violations by staff or management in financial institutions (banks, insurance companies and others), Indonesia in 2018 ranked 90th out of 180 countries worldwide, which indicates the presence of such cases. Violations can occur due to the weaknesses in the internal control system and the low level of integrity of employees. Instead, high employee self-awareness and company motivation to report violations (internal whistle-blowing intentions) can significantly improve the situation. The purpose of the article is to examine the variables that affect the insurance company employees in Palembang when making a decision to whistleblowing (reporting fraud). The variables considered in this study are: attitude, subjective norms, perceived behavioral control. The factor of religiosity in this study is used as a moderator. The sample of the study – 62 respondents, namely employees of insurance companies operating in the city of Palembang (Indonesia). The study results show that factors such as attitude and subjective norms influence the decisions of employees of insurance companies to report fraud. At the same time, the perceived behavioral control does not have a significant impact on the decision-making process. The religiosity of a person also does not affect both the studied variables (attitude, subjective norms, perceived behavioral control) and the whistleblowing intentions.
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Bulut Sürdü, Fatma, Arzu Özsözgün Çalışkan, and Emel Esen. "Human Resource Disclosures in Corporate Annual Reports of Insurance Companies: A Case of Developing Country." Sustainability 12, no. 8 (April 23, 2020): 3452. http://dx.doi.org/10.3390/su12083452.
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Employees are key stakeholders for companies to maintain their sustainability. Obtaining and disclosing information related to employees can help companies to manage and evaluate the effectiveness of human resources. This paper investigates human resource disclosures in corporate annual reports of 54 insurance companies in Turkey and identifies the determinants of the disclosure for the period of 2007–2017. For this purpose, human resource disclosures with eight subdimensions as employee health and safety, employment of minorities or women, disabled employee, employee training, employee assistance and benefits, employee remuneration, employee profiles and employee morale were obtained from corporate annual reports by content analysis. The data were statistically tested with correlation analysis and a pooled OLS (Ordinary Least Squares) models to determine the effects of return on assets, return on equity, leverage, firm size, number of employees, age of firm, public listing status, foreign ownership, company type on these disclosures. The results indicate that number of employees, foreign ownership and company type have an effect on the extent of human resource disclosure. Employee training is the most disclosed item among human resource disclosures in corporate reports. It is suggested that companies should improve their reporting and disclosure practices related to human resource development.
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Nyaga, Perminus Kariuki, and Mr Wilson Muema. "EFFECT OF SKIMMING PRICING STRATEGY ON THE PROFITABILITY OF INSURANCE FIRMS IN KENYA." International Journal of Finance and Accounting 2, no. 3 (February 14, 2017): 79. http://dx.doi.org/10.47604/ijfa.321.
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Purpose: The objectives of the study were to establish the effect of skimming pricing strategy on the profitability of insurance firms in Kenya.Methodology:The descriptive research design was preferred to other research designs because it reports the status of study variables. The population of study was the 45 insurance companies operating in Kenya as at 31st December 2012. Data was drawn from a period of five (5) years that is 2008-2012. The sample of this study was 10% of the sales workforce which comprised of 900 employees from the 45 insurance companies. The sample was generated by purposively sampling two employees from each insurance company.The researcher collected primary data with the help of a questionnaire. The primary data obtained from the questionnaires was summarized and analyzed by use of descriptive and inferential statistical techniques.Results:Regression and correlation results indicated that there was a statistically significant and positive relationship between skimming pricing strategies and profitability.Policy recommendation: The study recommends that insurance companies put in place measures assess the most effective pricing strategy to reduce product costs and thus increase profitability whenever such a strategy is used.
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Nyaga, Perminus Kariuki, and Mr Wilson Muema. "EFFECT OF OPTIMIZATION PRICING STRATEGY ON THE PROFITABILITY OF INSURANCE FIRMS IN KENYA." International Journal of Finance and Accounting 2, no. 3 (February 14, 2017): 119. http://dx.doi.org/10.47604/ijfa.324.
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Purpose: The objective of the study was to establish the effect Optimization Pricing Strategy on The Profitability of Insurance Firms in Kenya.Methodology:The descriptive research design was preferred to other research designs because it reports the status of study variables. The population of study was the 45 insurance companies operating in Kenya as at 31st December 2012. Data was drawn from a period of five (5) years that is 2008-2012. The sample of this study was 10% of the sales workforce which comprised of 900 employees from the 45 insurance companies. The sample was generated by purposively sampling two employees from each insurance company.The researcher collected primary data with the help of a questionnaire. The primary data obtained from the questionnaires was summarized and analyzed by use of descriptive and inferential statistical techniques.Results:Regression and correlation results indicated that there was a statistically significant and positive relationship between price optimization strategies, strategies and profitability.Policy recommendation: The study recommends that insurance companies put in place measures assess the most effective pricing strategy to reduce product costs and thus increase profitability whenever such a strategy is used.
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Nyaga, Perminus Kariuki, and Mr Wilson Muema. "EFFECT OF ECONOMY PRICING STRATEGY ON THE PROFITABILITY OF INSURANCE FIRMS IN KENYA." International Journal of Finance and Accounting 2, no. 3 (February 14, 2017): 66. http://dx.doi.org/10.47604/ijfa.320.
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Purpose: The objectives of the study were to establish the effect of economy pricing strategy on the profitability of insurance firms in KenyaMethodology:The descriptive research design was preferred to other research designs because it reports the status of study variables. The population of study was the 45 insurance companies operating in Kenya as at 31st December 2012. Data was drawn from a period of five (5) years that is 2008-2012. The sample of this study was 10% of the sales workforce which comprised of 900 employees from the 45 insurance companies. The sample was generated by purposively sampling two employees from each insurance company.The researcher collected primary data with the help of a questionnaire. The primary data obtained from the questionnaires was summarized and analyzed by use of descriptive and inferential statistical techniques.Results:Regression and correlation results indicated that there was a statistically significant and positive relationship between economy pricing strategies and profitability. These results implied that economy pricing has a positive effect on the profitability of insurance companiesPolicy recommendation: The study recommends that insurance companies put in place measures assess the most effective pricing strategy to reduce product costs and thus increase profitability whenever such a strategy is used.
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Nyaga, Perminus Kariuki, and Mr Wilson Muema. "EFFECT OF PENETRATION PRICING STRATEGY ON THE PROFITABILITY OF INSURANCE FIRMS IN KENYA." International Journal of Finance and Accounting 2, no. 3 (February 14, 2017): 93. http://dx.doi.org/10.47604/ijfa.322.
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Purpose: The objectives of the study were to establish the To determine the effect of penetration pricing strategy on the profitability of insurance firms in Kenya.Methodology:The descriptive research design was preferred to other research designs because it reports the status of study variables. The population of study was the 45 insurance companies operating in Kenya as at 31st December 2012. Data was drawn from a period of five (5) years that is 2008-2012. The sample of this study was 10% of the sales workforce which comprised of 900 employees from the 45 insurance companies. The sample was generated by purposively sampling two employees from each insurance company.The researcher collected primary data with the help of a questionnaire. The primary data obtained from the questionnaires was summarized and analyzed by use of descriptive and inferential statistical techniques.Results:Regression and correlation results indicated that there was a statistically significant and positive relationship between penetration pricing strategies and profitability. These results implied that penetration pricing has a positive effect on the profitability of insurance companies.Policy recommendation: The study recommends that insurance companies put in place measures assess the most effective pricing strategy to reduce product costs and thus increase profitability whenever such a strategy is used.
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Norén, Lars. "The private interests of consumers in the healthcare market." International Journal of Public Sector Management 23, no. 4 (June 1, 2010): 364–71. http://dx.doi.org/10.1108/09513551011047251.
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PurposeThis paper sets out to examine how private health insurance (PHI) supports the private interests of consumers of healthcare services. The focus is on how insurance companies promote PHI to consumers.Design/methodology/approachUsing interviews with insurance company marketing managers and others, the paper is a case study on the introduction of PHI in Sweden.FindingsThe interviewed insurance company managers argue that PHI supports two types of consumers' private economic interests. One type is the employers' interest in managing their total health‐related costs for their employees and the promise of PHI to reduce these costs. The second type relates to the interests of employees, particularly sports professionals, in managing economic risks and the promise of PHI to limit such risks.Research limitations/implicationsThe paper focuses on how insurance companies promote PHI to consumers. There is no exploration of how PHI policyholders actually use their insurance. The study focuses on Sweden where private companies are the major PHI policyholders. In other European countries, PHI may be adapted to other consumer groups in order to develop other private interests. The paper points to the value of short waiting times in public healthcare.Originality/valueThe paper provides valuable insights for academics and practitioners who are interested in how the private interests of consumers may affect the healthcare sector.
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Jiantreerangkool, Boonthipa, Wasita Boonsathorn, and Gary N. McLean. "Factors Affecting Employees’ Work Passion in the Thai Insurance Industry." International Journal of Human Resource Studies 9, no. 4 (October 28, 2019): 168. http://dx.doi.org/10.5296/ijhrs.v9i4.15398.
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The objectives of this study were to: 1) identify the perceived definition of staff work passion, and 2) explore perceived factors affecting staff work passion, both in the Thai insurance industry. The study was qualitative, using semi-structured interviews with open-ended questions. Participants were 36 key informants from life and non-life insurance companies in Thailand, including executive managers, middle managers, and staff, selected to maximize variation in responses. The definitions of staff work passion in the Thai insurance industry were comprised of five categories: happiness, pride, goal setting, personal efficacy, and job fit. Seven factors affecting work passion were highlighted: 1) the power of teamwork, 2) great support from leader, 3) work value, 4) challenge and variety of work, 5) supportive company policies, 6) gaining knowledge and opportunity to learn, and 7) providing good service to customers. These findings were incorporated into an employee work passion model adapted from Blanchard’s model. The model showed personal characteristics of individual as meanings of work passion; organization and job characteristics; and organizational role behaviours as factors affecting work passion. The model might apply to similar businesses within the financial industry, e.g., insurance brokerage companies, financial institutions, and stock and securities firms.
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Okhrimenko, Oksana, and Iryna Manaienko. "Forming the life insurance companies’ reputation in Ukrainian realities." Insurance Markets and Companies 10, no. 1 (January 15, 2020): 49–60. http://dx.doi.org/10.21511/ins.10(1).2019.05.
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Insurers’ understanding of reputation importance is a key factor of their successful performance at the market. It particularly concerns life insurance sector, which has a significant development potential in Ukraine.The article aims at deepening scientific and practical essentials concerning the formation of life insurance companies’ reputation in conditions of market competition aggravation and insurance market conjuncture volatility.Based on ranking assessments used in Ukraine (Insurance Top, Mind, “My insurance agent” and the ranking of the corporate reputation management quality “REPUTATIONAL ACTIVists”), the need for ensuring the insurers’ reputation stability in conditions of acute competition at the market was substantiated. The results of financial statements analysis and corporate governance reporting of insurance companies ASKA-LIFE, TAS, KD Life, PZU Ukraine, UNIQA Life, MetLife were presented. It was substantiated that, within studying the life insurance companies’ reputation, along with main financial indicators, there is a need to analyze in details such indicators as insurance premiums and investment income for one insured from savings life insurance, average payments, current accounts payable, etc.It was proved that for reputation capital development, it is worth strengthening the role of corporate social responsibility, and to consider insurance companies’ assessment on the part of clients and employees who are brand advocates and affect the companies’ reputation formation.
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Pathmananathan, P. Ravindran, and Khairi Aseh. "Identying Factors That Influences Fradulences in Non-Life Insurance Companies." Archives of Business Research 9, no. 6 (June 27, 2021): 93–102. http://dx.doi.org/10.14738/abr.96.10346.
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Insurance fraud is the most common form of fraud in the world, aside from tax evasion. By its very existence, the insurance industry is prone to deception. Basic income levels in Vietnam have a tendency to steadily rise as a result of improving socioeconomic conditions. As a result, the need for citizen security has increased and become more diverse.The aim of this study is to study the predictor/s of anti-insurance fraud among non-insurer companies in Vietnam. This study was conducted using a questionnaire that was completed by 51 employees who are currently working in the 11 non-life insurance company in Vietnam. It can be concluded that there exists a significant relationship between all the four independent variables which are namely external regulations, public context, management functions as well as underwriting guidance.
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Oosthuizen, Rudolf M., Delene Visser, and Peggy T. V. Mudzimu. "Work stress, work–home interference and perceptions of organisational culture amongst insurance employees in Zimbabwe." Journal of Psychology in Africa 24, no. 2 (March 4, 2014): 144–53. http://dx.doi.org/10.1080/14330237.2014.903075.
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Afridi, Sajjad Ahmad, Wajid Khan, Asad Javed, Muhammad Waseem, and Kaleem Saifullah. "EMPLOYEES’ ENGAGEMENT AND CUSTOMERS’ LOYALTY FOR UTILITARIAN SERVICES: A MODERATED MEDIATION MODEL." Humanities & Social Sciences Reviews 9, no. 3 (May 18, 2021): 398–405. http://dx.doi.org/10.18510/hssr.2021.9340.
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Purpose of the study: The present study aimed to determine the impact of employee engagement on customers’ loyalty through customers’ engagement. Moreover, this study also aimed to examine the moderating role of customers’ trust and the mediating role of customers’ engagement on the relationship between employees’ engagement and customers’ loyalty.
Methodology: The data were collected from 220 insurance service users through a non-probability sampling technique. Data reliability and validity were confirmed through Cronbach’s alpha and confirmatory factor analysis and hypotheses were tested through Andrew F. Hayes model 7.
Main Findings: Results show a significant direct effect of employee engagement on customers’ loyalty. Moreover, the findings confirmed the significant role of customers’ engagement as a mediator between employee engagement and customers’ loyalty. Results also confirmed customers’ trust moderating effect between employee engagement and customers’ engagement. Furthermore, the result confirmed the mediation of trust-based-customers engagement between the link of employee engagement and customers’ loyalty.
Applications of this study: This study would have some positive repercussions for utilitarian services such as insurance services providers. For instance, this study's findings revealed the process through which companies can make customers more loyal. Insurance companies through their employees' engagement and customer engagement can make a dyade that can better explain customers’ loyalty.
Novelty/Originality of this study: This study explored the underlying mechanism that links employee engagement to customers’ loyalty. Moreover, this study introduces a new term “trust-based engagement” as an important attribute in enhancing customers’ loyalty in general and particularly for insurance companies.
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Nyaga, Perminus Kariuki, and Mr Wilson Muema. "AN ANALYSIS OF THE EFFECT OF PRICING STRATEGIES ON PROFITABILITY OF INSURANCE FIRMS IN KENYA." International Journal of Finance and Accounting 2, no. 3 (February 14, 2017): 44. http://dx.doi.org/10.47604/ijfa.319.
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Purpose: The objectives of the study were to establish the effect of economy, skimming, penetration and premium pricing strategies on the profitability of insurance firms in Kenya.Methodology:The descriptive research design was preferred to other research designs because it reports the status of study variables. The population of study was the 45 insurance companies operating in Kenya as at 31st December 2012. Data was drawn from a period of five (5) years that is 2008-2012. The sample of this study was 10% of the sales workforce which comprised of 900 employees from the 45 insurance companies. The sample was generated by purposively sampling two employees from each insurance company.The researcher collected primary data with the help of a questionnaire. The primary data obtained from the questionnaires was summarized and analyzed by use of descriptive and inferential statistical techniques.Results:Regression and correlation results indicated that there was a statistically significant and positive relationship between economy pricing, skimming pricing, penetration pricing, premium pricing, price optimization strategies, strategies and profitability. Results show that economy pricing, skimming pricing, penetration pricing, premium pricing, price optimization strategies have a positive effect on the profitability of insurance companies. The correlation between profitability and penetration, premium and price optimization strategies was strong and positive. The regression results indicate that the variables; economy pricing, penetration pricing, premium pricing, price optimization strategy and skimming pricing were satisfactorily explaining profitability.Policy recommendation: The study recommends that insurance companies put in place measures assess the most effective pricing strategy to reduce product costs and thus increase profitability whenever such a strategy is used.
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Ke, Bin. "Taxes as a Determinant of Managerial Compensation in Privately Held Insurance Companies." Accounting Review 76, no. 4 (October 1, 2001): 655–74. http://dx.doi.org/10.2308/accr.2001.76.4.655.
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This study empirically investigates how taxes affect managerial compensation for a sample of privately held insurers whose managers own a large percentage of the firm's stock (I refer to these as management-owned insurers) during 1989–1996. Shareholder/managers receive two types of income from the firm they own: compensation income as employees, and investment income as shareholders. Although compensation income is taxable to employees and deductible by employers, investment income is subject to double taxation. Thus, the mix of the two is an important tax-planning decision for management-owned insurers. I predict and find that as individual tax rates increased relative to corporate tax rates from 1989–1992 to 1993–1996, shareholder/managers paid themselves less tax-deductible compensation relative to a control sample of nonmanagement-owned insurers (i.e., privately held insurers with no managerial ownership). The study's results expand our understanding of management-owned, privately held firms' tax-planning strategies, and have implications for the efficiency of the federal income tax system.
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Munge, Zipporah N., and Dr Regina Kitiabi. "CHALLENGES OF STRATEGY IMPLEMENTATION BY INSURANCE COMPANIES IN KENYA." International Journal of Finance and Accounting 2, no. 2 (February 13, 2017): 1. http://dx.doi.org/10.47604/ijfa.294.
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Purpose: The purpose of the study was to determine the challenges of strategy implementation by insurance companies in Kenya.Materials and methods: The study made use of primary data that was collected using questionnaires. Since the study involved the use of questionnaires, descriptive survey study was employed. The study population used included all the 46 insurance companies operating in Kenya as at August 2014. A list of the insurance companies in Kenya was obtained from the Insurance Regulatory Authority (IRA). A census of the 46 insurance companies was used. Therefore, sampling was not applicable in this study. After data has been collected through questionnaires, it was prepared for readiness of analysis by editing, handling blank responses, coding, categorizing and keying into Statistical Package for Social Sciences (SPSS) computer software for analysis. SPSS was used to produce frequencies, descriptive statistics which were used to derive conclusions and generalizations regarding the population.Results: The results from the study showed that among that the macroeconomic factors considered to affect strategy implementation were; strict guidelines for compliance with legal, regulatory and capital requirements, high technology advancement, and high inflation rates and low purchasing power of customer whereas the industry specific challenges that affected strategy implementation included; threat of price wars, stiff competition, rivalry among insurance companies and strong bargaining power from clients. Lack of staff involvement, bureaucratic structures and procedures in the company, poor communication of deliverables, and lack of clear guidelines in implementation, were among the internal factors that affected strategy implementation. The study also found out that strategy responses adopted by insurance companies in order to effectively implement their strategies included; rewards being linked to strategy implementation in order to enhance effective execution, lobbying through the Association of Kenya Insurers (AKI) to address regulatory, economic, political and environmental challenges, reliance on support from the Insurance Regulatory Authority (IRA) to address challenges in pricing and price wars.Recommendations: The study recommended that in order to address the strategy implementation challenges companies must first, avoid resistance by employees towards strategy implementation by ensuring employee involvement in the process, secondly, the companies should also work in lessening the bureaucratic structures and procedures, improving and ensuring effective communication of deliverables to ensure they are well understood by the employees, and also ensuring that clear guidelines in implementation process are laid down before the strategies are implemented.
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Schembri, Joseph. "The Impact of MCAST Apprentices on Insurance Companies Operating in Malta - A Manager’s Perspective." MCAST Journal of Applied Research & Practice 5, no. 1 (July 5, 2021): 127–53. http://dx.doi.org/10.5604/01.3001.0015.0189.
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This study probes the MCAST insurance apprenticeship scheme and the impact of apprentices on the local insurance companies, acting as sponsors. This study is of particular relevance since the local insurance firms are experiencing growth but have the challenge of employee turnover and skills shortage. This research study investigates the work-based learning experience of students, the mentoring of apprentices and the supervising procedures adopted by MCAST and the insurance firms. The purpose is to analyse the impact of MCAST trainees on local insurance firms and depict practical recommendations to ameliorate the learning experience of the apprentices. The recommendations emanating from this study, assist MCAST to develop high-performance apprenticeship schemes and assist the local insurance industry, in the recruiting and training of young employees. This qualitative research gathers data through nine in-depth, semi-structured interviews and adopts the Grounded Theory Methodology to address the research problem and attain the stated objectives. The researcher adopts the constructivist approach incorporating an inductive and abductive stance. The findings emanating from the data illustrate the need to promote the insurance industry as a provider of stable and fulfilling careers with the possibility of job mobility. MCAST and the insurance firms need to enhance their collaboration to promote the insurance apprenticeship, among young learners, even at secondary level. An overhaul of the mentoring and supervising approach is needed to provide a work-based learning experience of excellence to MCAST apprentices. MCAST apprenticeship is considered by the insurance executives as the best training opportunity to recruit skilled workers and create networks. The scheme is cost effective to the firms and is considered as a long-term investment in human resources. A well-planned strategy to enhance collaboration and share knowledge between the leading VET provider of the Maltese Islands and the insurance industry is required for the benefit of the apprentices who are the future employees of the local insurance firms.
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Shrestha, Prakash. "Managerial Perceptions on Internal Marketing and Employee Commitment in Nepal." Journal of Balkumari College 9, no. 1 (July 14, 2020): 41–47. http://dx.doi.org/10.3126/jbkc.v9i1.30066.
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The major purpose of this study is to examine the managerial perceptions on internal marketing and employee commitment in Nepal. This is a qualitative research in nature. It covers management-level employees of covers 30 organizations (including 14 commercial banks and 16 insurance companies) of Nepal. This study is based on discussions with 30 managers ((division chiefs, branch managers, human resource managers, department heads, IT managers, branch managers, officers and managers) of Nepalese commercial banks and insurance companies by using semi-structured interviews and discussions. The results of present study show that the managers are conscious about internal marketing and employee commitment in their organizations. They also realized the important factor of these components. It is suggested that management should be aggressively engaged in internal marketing to arrive at a synergy of satisfied employees and promoted employee commitment. Committed, satisfied and competent employees will make a better impression on customers, benefiting the organization as a whole.
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Adebowale, Sunday, and Adesoga Adefulu. "Training and employee productivity of selected insurance: Perspectives for the board of directors." Corporate Board role duties and composition 15, no. 3 (2019): 17–26. http://dx.doi.org/10.22495/cbv15i3art2.
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Employees are a vital resource for organisations. Their collective performance could determine productivity, growth and survival of organisations. Globally, employee productivity has become a subject of intense research. Studies in literature reported inconsistent findings of relationship between training and employee productivity. Employee productivity (efficiency, quality of work and timeliness of work) is perceived to be low probably due to inadequate training (on the job training, skill development, resilience and career success) of the employees. This paper, therefore, examined the relationship between training and employee productivity of selected insurance companies in Lagos State, Nigeria. The authors used survey research method. The population of study was 1527 employees in 8 selected insurance companies from which sample of 560 was selected using stratified sampling technique. The paper used questionnaire as research instrument validated through face and contents validity tests with Cronbach’s Alpha reliability coefficients ranged from 0.62 to 0.84 for various constructs used. The authors analysed data using both descriptive and inferential statistics. The study disclosed a moderate positive relationship between training and employee productivity with a correlation coefficient r (501) = 0.542, p < 0.05. Findings of the paper supported Board of directors’ investment decision in personnel development, employees’ skills, and attitude that enhanced productivity. The study concluded that training was essential for employee productivity.
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Gulati, Mahima, and Mary Delaney. "The Lifestyle Medicine Physician’s Case to Self-Insured Employers: A Business Model for Physicians, a Bargain for Companies." American Journal of Lifestyle Medicine 13, no. 5 (May 14, 2019): 462–69. http://dx.doi.org/10.1177/1559827619843882.
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A majority of Americans have health care insurance through their employers, the cost for which is rising at an alarming rate. Unfortunately, higher expenditure on insurance has not translated into healthier employees. In this article, we present a value-based design plan for self-funded employers, administered by lifestyle medicine board-certified providers, which is purported to save money for employers and yet may demonstrate better health outcomes for employees by engaging them in evidence-based lifestyle interventions such as plant-based nutrition, regular physical activity and minimizing sedentary behaviors, sleeping well, tobacco cessation, and so on.
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Holdren, Nate. "Incentivizing Safety and Discrimination: Employment Risks under Workmen’s Compensation in the Early Twentieth Century United States." Enterprise & Society 15, no. 1 (March 2014): 31–67. http://dx.doi.org/10.1093/es/kht135.
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This article takes criticisms of employment discrimination in the aftermath of the creation of workmen’s compensation legislation as a point of entry for arguing that compensation laws created new incentives for employment discrimination. Compensation laws turned the costs of employees’ workplace accidents into a risk that many employers sought to manage by screening job applicants in a manner analogous to how insurance companies screened policy applicants. While numerous critics blamed insurers for discrimination, I argue that the problem was lack of insurance. The less that companies pooled their compensation risks via insurance, the greater the incentives for employers to stop employing people they would have previously been willing to hire.
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Grzebieniak, Andrzej. "Evaluation of the Influence of a Chosen Element of Insurance Companies' Employees Behaviour of on Specific Aspects of Customer Relations Management." Olsztyn Economic Journal 8, no. 2 (June 30, 2013): 177–87. http://dx.doi.org/10.31648/oej.3229.
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Evaluation of the influence of a selected component of the insurance companies' employees' behaviour on the specific aspects of customer relations management was the objective of the paper. In the paper the hypothesis was assumed that appropriate development of customer relations depends to a large extent on the behaviours of employees defined mainly in the company management strategy in which strictly defined procedures in that area are indicated and appropriate technical, information, IT and organisation and management means are assured. The evaluation was made based on own surveys in which the questionnaire method was used. The mail or Internet questionnaire was the research tool. The questionnaires were distributed to 63 insurance companies possessing their registered offices in Poland during the years 2009-2011. In total, 57 completely and correctly completed questionnaires were returned.
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Harkin, Justyn. "Benefits Communications Survey: employees want more direction." Strategic HR Review 17, no. 2 (April 9, 2018): 99–102. http://dx.doi.org/10.1108/shr-01-2018-0003.
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Purpose The purpose of 2017 ALEX® Benefits Communication Survey is to explore what employees think of the ways their companies talk to them about their benefits. Specifically, the survey focuses on whether employees understand the benefits communication material that is put in front of them, and it tries to provide insights on how employers can help employees improve their ability to make informed decisions about their healthcare options. Design/methodology/approach The survey was conducted online from February 24 to March 17, 2017, by Harris Poll on behalf of Jellyvision. It included 2,043 US adults (ages 18+) who were employed full-time, eligible for company-provided benefits and did not currently have health insurance through Medicare, Medicaid or the VA. Data were weighted where necessary by age, gender, race/ethnicity, region, education, income, marital status, household size and propensity to be online for aligning them with their actual proportions in the population. Results of this research were compared with Jellyvision’s April 2016 survey of 2,105 employed adults. Findings Of the employees whose companies offer health insurance benefits, approximately half (49 per cent) say making health insurance decisions is “always very stressful” for them, and 55 per cent say that they would like help from their employer when choosing a plan. One in five employees (21 per cent) say they often regret the benefit choices they make during open enrollment. Further, while 89 per cent say they generally understand their options, only 59 per cent can actually identify the different elements involved in the full cost of their health care. In terms of communication preferences, 65 per cent of employees prefer to look over benefit enrollment instructions outside of working hours. Originality/value Jellyvision commissioned this study to provide employers with valuable insights about how employees process and respond to benefit communications. The data can help employers understand the sources of enrollment-related stress and critical gaps in health insurance and benefits knowledge, which can lead to poor decision-making and regret among employees. The survey also reveals employee communication preferences, which employers can use to optimize their content, drive engagement, and empower employees to make more informed benefit enrollment decisions.
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Kaur, Prabhjot. "Mediator Analysis of Job Satisfaction: Relationship between Servant Leadership and Employee Engagement." Metamorphosis: A Journal of Management Research 17, no. 2 (November 27, 2018): 76–85. http://dx.doi.org/10.1177/0972622518804025.
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Servant leaders attempt altruistically and selflessly to help others before themselves, believe in developing their followers to their greatest potential, and seek to benefit the wider community. The main purpose of the present article is to examine servant leadership as the antecedent to employee engagement, mediated by job satisfaction, in Punjab, using data from 190 employees from different service provider companies (banks, colleges, call centres, insurance companies). Quantitative analysis shows that when employees observe positive levels in servant leadership, they are fundamentally encouraged towards exercising significantly higher levels of engagement and satisfaction.
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Garg, Naval, and Bijender Kumar Punia. "Developing high performance work system for Indian insurance industry." International Journal of Productivity and Performance Management 66, no. 3 (March 6, 2017): 320–37. http://dx.doi.org/10.1108/ijppm-06-2015-0082.
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Purpose Modern age witnessed an exponential growth of high performance work practices (HPWPs) at workplace. This phenomenal increase in quest of performance excellence has fascinated both researchers and practitioners. The purpose of this paper is to develop a conceptual model of HPWPs for insurance companies of India. Design/methodology/approach A structured questionnaire comprising of 35 HPWPs with a five-point rating scale has been used. Model is based on two important paradigm of HR practices – employees’ awareness and perception for HPWPs. Factor analysis is followed by confirmatory factor analysis to build a model of HPWPs for insurance industry in India. Findings Of the 35 practices 17 get reduced to most applicable practices constituting high performance work system (HPWS) for insurance industry. The paper arrives at appropriate model of HPWPs. Research limitations/implications Paper has successfully developed model for insurance companies. Taking clue from findings, insurance practitioners could deal with various HR related challenges in their respective companies. Originality/value The paper uses primary data collected using structured questionnaire to develop HPWS.
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Akomea-Frimpong, Isaac, Charles Andoh, and Eric Dei Ofosu-Hene. "Causes, effects and deterrence of insurance fraud: evidence from Ghana." Journal of Financial Crime 23, no. 4 (October 3, 2016): 678–99. http://dx.doi.org/10.1108/jfc-11-2015-0062.
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Purpose This paper aims to measure the extent of effects of insurance fraud on the financial performance of insurance companies in Ghana. It also examines the causes and stringent measures that can be used to fight against insurance fraud. Design/methodology/approach Primary and secondary data obtained from 39 insurers in Ghana are used in this paper. A multiple regression model is used to determine the relationship between financial performance and insurance fraud variables. Findings The results from the model indicate that statistically insurance fraud has a significant negative effect on the annual return on assets (financial performance) of insurers in Ghana. Also, weak internal controls, poor remuneration of employees, falsified documents, deliberate acts of policyholders to profit from the insurance contract and inadequate training for independent brokers are found to be the major causes of insurance fraud in Ghana. To deter insurance fraud, effective internal fraud policy, rigorous assessment of insurance policies and claims, adequate training for independent brokers on insurance fraud and modern information technology tools are paramount in fighting this menace in Ghana. Research limitations/implications These findings are to have substantial impact on the techniques insurance companies will develop to fight insurance fraud and the policies that will be developed by governments and national insurance regulatory bodies to fight this menace. Originality/value The main value of this paper is the determination of the key variables that constitute insurance fraud and their impacts on the annual financial performance of insurance companies in Ghana.
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Aarthi, G. K. "Retention of Employees in Life Insurance Companies with Special Reference to Chennai City, India." International Journal for Research in Applied Science and Engineering Technology 7, no. 2 (February 28, 2019): 331–36. http://dx.doi.org/10.22214/ijraset.2019.2036.
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Nyaga, Perminus Kariuki, and Mr Wilson Muema. "EFFECT OF PREMIUM PRICING STRATEGY ON THE PROFITABILITY OF INSURANCE FIRMS IN KENYA." International Journal of Finance and Accounting 2, no. 3 (February 14, 2017): 107. http://dx.doi.org/10.47604/ijfa.323.
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Purpose: The objectives of the study were to establish of premium pricing strategy on the profitability of insurance firms in Kenya..Methodology:The descriptive research design was preferred to other research designs because it reports the status of study variables. The population of study was the 45 insurance companies operating in Kenya as at 31st December 2012. Data was drawn from a period of five (5) years that is 2008-2012. The sample of this study was 10% of the sales workforce which comprised of 900 employees from the 45 insurance companies. The sample was generated by purposively sampling two employees from each insurance company.The researcher collected primary data with the help of a questionnaire. The primary data obtained from the questionnaires was summarized and analyzed by use of descriptive and inferential statistical techniques.Results:The descriptive statistics indicated that majority of the respondents agreed that their firm positively influenced consumer’s perception through fair pricing in setting premium prices, when using premium pricing our firm tried to reduce operation costs as much as possible and ensured they are controlled, their firm had successfully adopted effective premium pricing strategies in the recent years, their premium pricing strategy had led to more sales in their insurance products and their firm engaged professional expertise in implementation of their premium pricing strategy. Regression and correlation results indicated that there was a statistically significant and positive relationship between premium pricing strategies and profitability. These results implied that premium pricing has a positive effect on the profitability of insurance companies.Policy recommendation: The study recommends that insurance companies put in place measures assess the most effective premium pricing strategy to reduce product costs and thus increase profitability whenever such a strategy is used.
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Maghlaperidze, Eka, Natalia Kharadze, and Halyna Kuspliak. "Development of Remote Jobs as a Factor to Increase Labor Efficiency." Journal of Eastern European and Central Asian Research (JEECAR) 8, no. 3 (September 15, 2021): 337–48. http://dx.doi.org/10.15549/jeecar.v8i3.669.
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The purpose of the study was to assess the effectiveness of remote work and the determining factors of its development. Based on the survey for December 2020 - January 2021, with 528 employees of insurance companies in Georgia, the features of remote work have been determined. The factors influencing the effectiveness of remote work were substantiated by the Principal Component Analysis (PCA). Structural modeling confirmed the qualitative nature of the influence of the intensity of remote work on the level of its effectiveness, taking into account the factors of its effectiveness. The regularities and priority of the impact of the characteristics of the effectiveness of remote work depending on the intensity of the remote work have been substantiated. The optimal volume of remote work has been determined empirically. Its maximum efficiency is ensured in terms of increasing the productivity and satisfaction of employees of insurance companies.
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Abou-Moghli, Azzam A. "Analyzing the Significance of Transformational Leadership on Organizational Creativity of Employees: A Case of Insurance Companies in Jordan." International Journal of Business Administration 9, no. 4 (June 13, 2018): 64. http://dx.doi.org/10.5430/ijba.v9n4p64.
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The study aims to conduct an assessment of defining qualities of a transformational leader and the role of such leaders in intellectually inspiring and intrinsically motivating the employees within their organization. The data was collected from 90 managers of 20 insurance companies and further analyzed their views pertaining to transformational leadership styles. Statistical tools were used to analyze the data. A vast majority of the respondents affirmed the significance of transformational leadership in ensuring the organizational creativity of their employees. It is concluded that the elements of transformational leadership are crucial in the development of organizational creativity of employees.
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Khdour, Naser, Ahmad Samed Al-Adwan, Anas Alsoud, and Jamal Ahmed Al-Douri. "Human resource management practices and total quality management in insurance companies: Evidence from Jordan." Problems and Perspectives in Management 19, no. 1 (March 29, 2021): 432–44. http://dx.doi.org/10.21511/ppm.19(1).2021.36.
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This study aims to extend the argument about the association between HRM and Total Quality Management (TQM) in insurance companies in Jordan. It is argued that the consideration of TQM can be supported in terms of configuration as an effect of Human Resource Management (HRM) in the presence or absence of other HRM practices. Data for this study were collected from 24 insurance companies listed on the Amman Stock Exchange and 342 employees. PLS-SEM was used to analyze the data collected through path analysis. Structural equation modeling was used to examine a causal relationship between the variables. The overall effect of HRM on TQM was explored to improve quality orientation and people criteria in insurance companies. The findings have indicated a significant and positive effect of teamwork, staffing, performance appraisals, and compensation on TQM. However, training and development have a negative, but significant impact on TQM. In addition, TQM significantly and positively affects the HRM of an organization. Performance was also positively and significantly affected by HRM. TQM is an important factor of HRM in insurance companies. AcknowledgmentThe authors are very thankful to all the associated personnel in any reference that contributed to the purpose of this study.
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Candra Susanto, Primadi, and Naik Henokh Parmenas. "MODEL DEVELOPMENT OF SUCCESSION PLANNING IN SUBSIDIARY COMPANIES ENGAGED IN THE INSURANCE INDUSTRY." Journal of Economics, Management, Entrepreneurship, and Business (JEMEB) 1, no. 1 (May 4, 2021): 43–57. http://dx.doi.org/10.52909/jemeb.v1i1.16.
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In this study using the Qualitative Phenomenology Method, the purpose of this study is to provide input regarding the proper retention plan formulation procedures and provide input regarding the procedures for identifying talent readiness to meet the needs of a critical position. Based on the analysis of the application of succession planning in insurance companies, it can be concluded that the following matters The implementation of succession planning at the subsidiary company has not been carried out optimally because it is still at the create development plans stage or the 4th stage of the seven stages of the succession planning process, the company is mature enough Identified talent and talent mapping for 15 manager candidates to obtain 2 candidates in the Ready Now category, 8 candidates in the Ready With Development category and five candidates in the Not Ready Yet category. For the candidates mentioned above, the Company has also compiled a talent development strategy (talent development strategy), which includes a number of development programs, including in-house training, coaching and mentoring, as well as special assignments. The development program is adjusted to the proficiency level of each candidate, based on the results of the assessment that has been carried out. right by the Company. The output of the development program carried out is a number of talent readiness to fill critical positions in the Company. Based on the analysis that has been done, the talent readiness of the subsidiary company ranges from 1-2 years. To maintain the talents the Company already has, the Company has also prepared a retention planning strategy. The retention strategy undertaken by the Company is more aimed at increasing bounding with employees and to retaining quality employees. Retention efforts carried out by the Company include clear and directed career development programs, leadership programs, building open and comfortable communication patterns. with employees, employee recognition, and various employee welfare programs. With the development of appropriate succession planning and supported by effective retention planning efforts, the Company will be able to supply competent human resources and have a supply of talent to fill critical position needs. in the future.
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Al-Amri, Mohammed Saeed. "The Relationship between Servant Leadership and Organizational Citizenship Behavior: An Empirical Study on Saudi Insurance Companies." International Journal of Business and Management 11, no. 11 (October 26, 2016): 264. http://dx.doi.org/10.5539/ijbm.v11n11p264.
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The aim of this study is to examine the relationship between servant leadership and organizational citizenship behavior. To achieve this aim, the study utilized a questionnaire consists of two validated and well established instruments. This questionnaire has been distributed to a sample consist of (500) employees of insurance companies. A total of (327) complete questionnaires has been received back at a response rate of 65%. After analyzing data and testing hypotheses, the results indicated that the level of servant leadership in insurance companies is at the middle and the most prominent practices of servant leadership are associated with the dimension of empowerment, while those associated with the dimension of courage was the less common practice. The results also pointed out that the level of employees’ organizational citizenship behavior was high. Finally the study revealed that there is a relationship between all the dimensions of servant leadership and organizational citizenship behavior except courage dimension. Based on these results, certain recommendations were suggested.
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Sakic, Ajana, Nereida Hadziahmetovic, and Natasa Tandir. "Impact of Authentic Leadership Style on Job Satisfaction: Case of Insurance Sector in Bosnia and Herzegovina." International Journal of Human Resource Studies 9, no. 1 (February 19, 2019): 299. http://dx.doi.org/10.5296/ijhrs.v9i1.14225.
Full textAbstract:
Managing good employees in the current competitive business environment is one of the difficulties an organization is facing in order to accomplish their objectives. Having in mind that employees’ feelings, spirit regarding the job, commitment and engagement are among the biggest factors that should never be overlooked by the organization. All of these factors as well as their reactions to various aspects of the job and organization will seriously affect employees’ performance, involvement and engagement. Organizational leadership is one of the vital factors in all organizations as well as one of the key strategies to accomplish this purpose. This research inspects and tests the influence of authentic leadership style on employees’ satisfaction with their jobs in insurance companies from Bosnia and Herzegovina. Many industries and organizations, in particular the insurance industry, can benefit by this research with different advantages: learn about the enhancement and advantages of authentic leadership, suggestions for workers fulfillment and how authentic leadership can impact employees’ motivation and engagement. Regression analysis was conducted to test the hypothesis. Results indicate that authentic leadership style has significant effect on employees’ job satisfaction.