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1
Glintić, Mirjana. "Main characteristics of credit life insurance." Pravo i privreda 58, no. 3 (2020): 237–53. http://dx.doi.org/10.5937/pip2003237g.
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In recent years, banks in Serbia, as authorized insurance agents, have started offering various types of insurance contracts that serve as a means of securing credit. Since the potential credit user is a consumer who does not have sufficient legal knowledge of insurance contracts, this paper aims to point out the main characteristics of these insurances and to highlight the differences between them. Despite all the information that insurance agents are required to disclose to their clients, there are always certain dilemmas regarding these insurance policies, particularly with respect to the issues of insurance coverage, insurance voluntariness and its cost-effectiveness. During the last two years, several judgments have been made regarding credit insurance and the powers of banks in connection with this contract, so it was necessary to consider what consequences this could have on the way of concluding the contract and calculating premiums for some other insurances intended for securing loans, although differently conceived.
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Markonah, Markonah. "THE INFLUENCE OF REINSURANCE RATE, LOAN INTEREST RATE AND BANK'S FEE BASED INCOME AGAINST THE PREMIUM RATE ON CREDIT LIFE INSURANCE (CASE STUDY: CREDIT LIFE INSURANCE’S POLICY HOLDER OF PT INDOSURYA LIFE IN 2018)." Dinasti International Journal of Management Science 2, no. 5 (June 27, 2021): 724–40. http://dx.doi.org/10.31933/dijms.v2i5.867.
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This research has purposes to learn further about the impact of reinsurance rates, loan interest and fee-based income towards premium rates on credit life insurance. The unit of analysis was 50 credit life insurance policy holders at PT Indosurya Life throughout 2018. The independent variables that used in this research are reinsurance rates, loan interest and fee based income. While the dependent variable is premium rate on credit life insurance. The sample collected method was taken by saturated sampling. Researchers took the entire population as a sample where the number of samples used were 50 policy holders from credit life insurance which used premium rates and types of effective loan interest for 40 years of age with 5 years of insurance period. The analytical method used was multiple regression analysis and hypothesis test which is done by t-test. And according to the rdata analysis result, loan interest and fee-based income had a positive and significant affect towards credit life insurance's premium rates. Meanwhile, the reinsurance rate variable did not related to credit life insurance's premium rate. It is very recommended to PT Indosurya Life to increase the premium rate on its credit life insurance, so that will increase its Fee Based Income aswell.
3
Szczepańska, Magdalena. "Insurer's Performance in Unit Linked Life Insurance Plans." Prawo Asekuracyjne 3, no. 108 (September 30, 2021): 12–25. http://dx.doi.org/10.5604/01.3001.0015.2756.
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The aim of the article is to comprehensively discuss the performance to be made by parties to the unit linked life insurance plans (ULIPs), with a particular emphasis being placed on the performance on the part of insurance undertakings. The specific nature of this contract results in various types and methods of paying benefits in unit linked insurance plans. Due to the lack of detailed legal regulations in this area, it seems reasonable to present legal characteristics of the particular types of benefits. Determination of the amount of latter, taking into consideration first and foremost the investment nature of the contract, which makes it different from common life insurance policies, requires a thorough discussion in ULIPs.
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Pakhnenko, O., O. Zhuravka, V. Podhorna, and A. Sukhomlyn. "ANALYSIS OF COMPETITIVE POSITIONS OF INSURANCE COMPANIES IN THE NON-LIFE INSURANCE MARKET IN UKRAINE." Vìsnik Sumsʹkogo deržavnogo unìversitetu, no. 2 (2019): 88–94. http://dx.doi.org/10.21272/1817-9215.2019.2-11.
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The paper explores the practical aspects of forming a competitive environment in the non-life insurance market of Ukraine and analyzes the competitiveness and financial performance of leading insurance companies. Based on the analysis of non-life insurance market concentration indicators, the authors concluded that there is no clear leader in this market, the level of market concentration is negligible. Based on the analysis of non-life insurance market leaders by volume of gross insurance premiums in the whole market and by main types of non-life insurance (CASCO, motor vehicle liability insurance, property insurance, fire and catastrophe risk insurance, CARGO, health insurance) the authors found that the leadership of insurance companies in the market does not mean their leadership in all types of non-life insurance; some insurance companies specialize in certain types of insurance and not being leaders in the insurance market at all occupy leading positions in certain segments of non-life insurance market. In order to provide a general assessment of the competitiveness of individual insurance companies in the non-life insurance market, the following indicators were selected: the volume of gross insurance premiums, gross insurance payments, insurance reserves and the amount of equity. In order to assess the size of market share of an individual insurance company in a more objective way, it is suggested to calculate the average share of the insurance company. The calculations made it possible to identify the leaders of the non-life insurance market in 2018 and to explore the dynamics of changes in their competitive position during 2016-2018. For the three insurance companies that have been identified as the leaders of the Ukrainian market non-life insurance in 2018 (“UNIKA”, “AXA Insurance” and “PZU Ukraine”), the authors analyzed the main indicators of their financial condition, namely the profitability of insurance services, profitability of sales, return on assets, return on equity, overall liquidity, absolute liquidity and autonomy. It was found that all the analyzed insurance companies are profitable, however, among the three leading Ukrainian insurance companies, the most effective in 2018 was the insurance company “PZU Ukraine” and the least profitable – “UNIKA”. Keywords: competitiveness, insurance company, market concentration, market share, competition.
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Bregvadze, Roland. "DEVELOPMENT OF «LIABILITY INSURANCE» IN GEORGIA FOR THE LAST 10 YEARS» (OVERVIEW OF 2008 - 2018)." Economic Profile 15, no. 20 (December 25, 2020): 60–72. http://dx.doi.org/10.52244/ep.2020.20.07.
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In Georgia, the insurance industry has been developing since 1997, since the establishment of insurance development strategy by the state, the LEPL State Insurance Supervision Service, the main insurance regulation law on insurance, normative and sub-legal acts have been developed, and an important place has been given to insurance relations in Georgian civil, air, marine and customs code. Several types of compulsory insurance have been introduced. Over time, with the realization of the benefits of insurance by the public and private business, there has been a growing demand for the various types of insurance offered by private insurance companies. Including types of personal insurance, property and financial risk insurance. There was also some demand for various liability insurance in both the corporate and retail markets. Nevertheless, judging by the statistics of the Georgian insurance market from 2008 to 2018, we will see that liability insurance is less prominent. Leading among the types of insurance are types of insurance such as medical insurance, auto insurance, property and life insurance. Liability insurance ranks sixth and seventh, both in terms of premiums attracted and policies issued. Liability insurance is less in demand today and is preceded by types of insurance such as medical insurance, motor insurance, property and life insurance. The separation of the type of liability insurance and the importance of its development is due to the fact that it is impossible to attribute it to property or personal insurance. If the object of property insurance is the property of a natural or legal person, and the property of a person - human life, health and ability to work, then the object of liability insurance is the liability of the insured (insured) for damage to a third party in accordance with law or contractual obligations. Therefore, the aim of the paper is to reflect to some extent the problems of liability insurance development in Georgia and to offer recommendations for their solution.
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Tsendsuren, Saruultuya, Chu-Shiu Li, Sheng-Chang Peng, and Wing-Keung Wong. "The Effects of Health Status on Life Insurance Holdings in 16 European Countries." Sustainability 10, no. 10 (September 27, 2018): 3454. http://dx.doi.org/10.3390/su10103454.
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This study examines the relationships among three health status indicators (self-perceived health status, objective health status, and future health risk) and life insurance holdings in 16 European countries. Our results show that households with poor self-perceived health status and high future health risk are less likely to purchase life insurance in the entire sample as well as in the subsample for countries with a national health system (NHS). In non-NHS countries, those households that have high future health risk are less inclined to purchase life insurance. In terms of preferences for types of life insurance policies (term life, whole life, both, or none) in the whole sample, poor self-perceived health status and high future health risk are less inclined to hold only term life insurance policy. In addition, poor self-perceived health status and high future health risk have a negative impact on holdings of both types of life insurance. Our findings reveal that there is no adverse selection problem in the life insurance market, especially in European countries with NHS.
7
DORONIN, B. A., Yu E. KLISHINA, and O. N. UGLITSKIKH. "LIFE INSURANCE IN RUSSIA UNDER COVID-19 PANDEMIC." EKONOMIKA I UPRAVLENIE: PROBLEMY, RESHENIYA 3, no. 9 (2021): 25–30. http://dx.doi.org/10.36871/ek.up.p.r.2021.09.03.005.
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The situation related to the COVID-19 pandemic has clearly shown the financial instability of the economy and the need to provide insurance protection not only for property, but also for one's own life. The COVID-19 pandemic is a new phenomenon for the entire insurance system, so it is difficult to predict how it will work in these conditions. The article assesses the current state of compulsory health insurance, reflects the reasons that contribute to the more active use of voluntary insurance tools. The analysis of the dynamics of insurance premiums for the main types of insurance is carried out, the factors of the growth of the need to create addi-tional income and their subsequent accumulation in order to avoid the onset of a crisis situation are consid-ered.
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Tseng, Lu-Ming. "Company–customer conflicts and ethical decision-making of life insurance agents: the role of ethics institutionalization." Managerial Finance 46, no. 9 (April 25, 2020): 1145–63. http://dx.doi.org/10.1108/mf-11-2019-0546.
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PurposeFor the financial service industry, company–customer conflict is a topic that deserves special attention. This study explores the impacts of ethics institutionalization on the life insurance agents' ethical decision-making under the company–customer conflicts.Design/methodology/approachTwo types of company–customer conflicts are studied. In one situation, selling the life insurance product is profitable to the life insurance company, but the product is unsuitable for the customer. In another situation, selling the life insurance product is unprofitable to the life insurance company, while the product will fully satisfy the customer's interests. The study selects Taiwan's full-time life insurance agents as a sample.FindingsThe main results show that implicit ethics institutionalization has a stronger influence on teleological evaluations and deontological evaluations. This study then finds that different types of company–customer conflicts would change the influences of teleological evaluations on ethical intentions and cause different influences of implicit ethics institutionalization on teleological evaluations and deontological evaluations.Originality/valueEthics institutionalization and company–customer conflicts are important issues in the literature. This is the first study to discuss the roles that ethics institutionalization and company–customer conflicts play in the ethical decision-making of life insurance agents.
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Souiden, Nizar, and Yosr Jabeur. "The impact of Islamic beliefs on consumers’ attitudes and purchase intentions of life insurance." International Journal of Bank Marketing 33, no. 4 (June 1, 2015): 423–41. http://dx.doi.org/10.1108/ijbm-01-2014-0016.
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Purpose – The purpose of this paper is to investigate the role of Islamic beliefs in moderating consumers’ attitudes and purchase intentions of conventional and Islamic life insurance. Second, it investigates the role of Islamic beliefs in moderating the relationship between the attitude toward conventional/Islamic life insurance and purchase intentions of these types of services. Design/methodology/approach – A questionnaire was administered online in a Muslim liberal country where both types of insurance are offered. Based on a total sample of 207 responses, ANOVA tests and a structural Equation Modeling were used to test the research hypotheses. Findings – Results show that: the higher (lower) the Islamic beliefs of individuals, the less (more) favorable their attitude will be toward conventional life insurance and the more (less) favorable their attitude will be toward Islamic life insurance; the higher (lower) the Islamic beliefs of individuals, the weaker (stronger) their purchase intentions for conventional life insurance will be and the stronger (weaker) their purchase intentions for Islamic life insurance will be; and Islamic beliefs moderate the relationships between attitudes and purchase intentions of life insurance. Practical implications – Because they play a significant role in moderating consumers’ attitudes and purchase intentions of conventional and Islamic life insurance, Islamic beliefs can be used as a meaningful criterion to segment the life insurance markets in (less conservative) Muslim countries. This would help insurance companies to better target their services. In a case where two segments coexist (i.e. individuals scoring low on Islamic beliefs vs individuals scoring high on Islamic beliefs), insurers should weigh different strategic options by targeting one of the two segments or both of them. Perhaps the main issue occurs when an insurer attempts to target both segments. In this case, managers should be aware of the confusion that they might create in the mind of their clients (or potential clients). Concurrently offering two types of life insurance (conventional and Islamic) may put the insurers’ credibility at stake. Originality/value – Earlier studies report that in Muslim countries, the demand for life insurance is weak or negatively correlated with religion. The majority of these studies consider religion as a macro indicator (i.e. at the country level) when explaining the demand for such services. The present study further clarifies the nature of the relationship between religion and the demand for life insurance by: examining the role of Islamic beliefs (as one of the main dimensions of Muslims’ religiosity) at the micro level (i.e. at the consumer level); and investigating the moderating role of Islamic beliefs in explaining attitudes and purchase intentions of conventional and Islamic life insurance in a less conservative Muslim country.
10
Hao, Duong Dac Quang, and Nguyen Thi Minh Hoa. "IMPACT OF RISK FACTORS ON BUSINESS RESULTS OF LIFE INSURANCE PRODUCTS IN INSURANCE COMPANIES IN HUE CITY." Hue University Journal of Science: Economics and Development 128, no. 5C (March 22, 2019): 55. http://dx.doi.org/10.26459/hueuni-jed.v128i5c.5117.
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<p><strong>Abstract: </strong>On the basis of the leveraging Monte Carlo simulation method and @Risk – a risk analysis software, this study aims to identify and analyse the impacts of the potential risk factors on business results of life insurance products in the insurance companies in Hue city. Both the qualitative and quantitative method is applied. Data were collected from interviewing the leaders, financial managers and senior consultants at four most representative life insurance companies in the area, namely Bao Viet life insurance, Prudential, AIA, and PCI Sun Life using the DELPHI technique. The following findings are found. Firstly, besides the identified events, 10 other types of risks could affect the business results of life insurers. Secondly, these types of risks have varied frequencies and levels of impact on the three studied variables of the simulation model. Finally, the risk of rumours and the risk of new competitors appear to be the most significant dangers to the expected profits of life insurance companies.</p><p><strong>Keywords</strong><strong>: </strong>Monte Carlo simulation, @Risk, Delphi technique, life insurance<strong></strong></p>
11
Wicka, Aleksandra. "Household expenditure on life and health insurance." Studenckie Prace Prawnicze, Administratywistyczne i Ekonomiczne 35 (June 11, 2021): 305–17. http://dx.doi.org/10.19195/1733-5779.35.19.
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The increasing wealth in society is accompanied by the growing demand for life and health insurance. In recent years, there has been a rising interest in insurance products offering consumers access to private healthcare facilities, which ensure shorter waiting times for an appointment with a specialist than in public facilities, as well as quick diagnosis and high quality of services. The aim of the study was to determine the level of health and life insurance expenditure in different household types. Their position in the overall household expenditure structure and in the expenditure on consumer goods and services has also been determined. In 2015–2019 the number of consumers purchasing health policies, both individual and institutional, has more than doubled and their spending on health insurance was 84% higher in 2019 than in 2015. The largest amount for the purchase of life and health insurance was allocated in the households consisting of white-collar workers (more than 131 PLN per person yearly), while the lowest in farmer households (more than 30 PLN per person yearly).
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Žarković, Nebojša. "Life insurance in circumstances of Covid 19 pandemics." Tokovi osiguranja 37, no. 4 (2021): 31–56. http://dx.doi.org/10.5937/tokosig2104031z.
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The subject matter of the research in this paper is the impact of the crisis caused by the Covid 19 pandemics on life insurance. The significance of life insurance for the population and economy is emphasized at the beginning. This is followed up by a presentation and analysis of the data on the global decline in the premium volume for these lines during 2020 and the prospects for recovery. Moreover, a due attention has been dedicated to the impact of the Corona virus on insurance claims tendencies. A special chapter concerns two types of life insurance - life insurance and occupational incapacity insurance. The first was dealt with because of its significance and the second because of the great attention it received as the result of the outbreak of the pandemic. A part of this paper covers the consequences of the pandemic crisis in Serbia. The general conclusion is that life insurers in Serbia and globally responded well to the growing challenges and that, in the future, they will face declining investment income and a significant adjustment of the insurance proposal to the new developments.
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Novoseletska, Anna. "STATE OF CONCENTRATION AND MONOPOLIZATION OF THE INSURANCE MARKET OF UKRAINE." Scientific Notes of Ostroh Academy National University, "Economics" Series 1, no. 21(49) (June 24, 2021): 10–18. http://dx.doi.org/10.25264/2311-5149-2021-21(49)-10-18.
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The intensity and quality of insurance market development are directly related to the level of competition, concentration and monopolization between insurance companies. Although the insurance market of Ukraine is insignificant in terms of key indicators in comparison with foreign ones, the competitiveness of its insurers is very important to ensure proper insurance protection of policyholders. The article is devoted to the assessment of the processes of concentration and monopolization of the insurance market of Ukraine. The study analyzed the structure of the insurance market by segments, concentration indicators and the Herfindahl-Hirschman index for the market as a whole and for individual types of insurance, gradation of insurance companies by the amount of collected insurance premiums. Based on the assessment, it was determined that the insurance market of Ukraine is generally low concentrated, as well as the sector of risky types of insurance. Among the selected segments of the insurance market, the most concentrated is the CASCO insurance. In the field of health insurance there is a slightly lower level of concentration and monopolization as in the OTSPVVNTZ segment. The market of classical property insurance is the least concentrated. The life insurance segment is characterized by moderate concentration and monopolization. The most powerful insurance companies in the relevant sectors of the insurance market of Ukraine are outlined. Since 2015, the top three leaders of the life insurance market are PJSC “MetLife”, PJSC “Insurance Group TAS” and PJSC “IC UNIСA LIFE”. Virtually unchanged leaders in the field of risk insurance during 2018-2020 were PJSC “IC ARX”, PJSC “IC UNICA” and PJSC “Insurance Group TAS”, which are members of financial groups that include leaders of the life insurance market. In general, the national insurance market is becoming more concentrated, which will be appropriate and accepted benefits while strong market players will not involve their residents, and the state controls these processes.
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Lai, Li-Tzu, Jui-Yun Wu, and Lu-Ming Tseng. "The ethical decisions of life insurance salespeople: the effects of interest conflicts, ethical leadership and ethical training." Journal of Financial Regulation and Compliance 29, no. 4 (June 3, 2021): 371–86. http://dx.doi.org/10.1108/jfrc-01-2021-0001.
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Purpose Life insurance salespeople are hired to pursue the best interests of life insurers on the one hand, the salespeople are also expected to pursue the best interests of customers on the other hand. However, the best interests of life insurers are not necessarily consistent with the best interests of customers. This study aims to investigate the influences of interest conflicts on the life insurance salespeople’s ethical attitude and ethical intention by focusing on the role of ethical leadership and ethical training. Design/methodology/approach Four types of interest conflicts are studied. Questionnaires are administered to a total of 757 full-time life insurance salespeople. Data analysis is performed by using analysis of variance tests and partial least squares regression. Findings The main results indicate that the types of interest conflicts change the life insurance salespeople’s ethical attitude and ethical intention. Moreover, ethical training could make the life insurance salespeople become more concerned about the interests of customers, but not the interests of life insurers. The results also challenge a belief that ethical leadership and ethical training will often have direct, consistent and significant impacts on the ethical attitude and ethical intention of life insurance salespeople. Originality/value Interest conflict is an important issue in the literature on financial regulation. The potential for life insurance salespeople to behave unethically has also received extensive attention by researchers. This study provides clarification of the relationships among interest conflicts, ethical leadership, ethical training and ethical decision-making of life insurance salespeople. This is the first study that analyzes the relationships. The results of this study may provide some contributions to the relevant literature.
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Viverita, Shinta Wulandari, and Emilyn Cabanda. "Determinants of Cost Efficiency and Productivity Growth of the Indonesian Insurance Industry." International Journal of Knowledge-Based Organizations 6, no. 2 (April 2016): 70–82. http://dx.doi.org/10.4018/ijkbo.2016040105.
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This paper provides new empirical evidences on determinants of cost efficiency and productivity performance of life and property-casualty insurance firms in Indonesia. Data envelopment analysis (DEA) method is used to investigate the cost efficiency and Total Factor Productivity (TFP) among a balanced panel of 118 insurance firms (35 life insurance and 83 property-casualty insurance) over the period of 2006-2008. Results show that on average, insurers were operating at a low level of cost efficiency. However, by constructing the Malmquist Indices, this research finds a positive productivity change for the two types of insurance firms due to an increasing use of technological advances. Furthermore, the paper estimates the influence of some environmental variables on the cost efficiency using a multiple regression analysis. New findings indicate significant negative effects among types of insurance, size, and solvency on the firm's cost efficiency. Meanwhile, market share and ownership structure have positive but insignificant effects on the firms' efficiency. These findings are additional empirical evidences for the efficiency analysis of life and property-casualty insurance in a developing country.
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Završnik, Bruno. "Factors influencing insurance for young people." Journal of Engineering Management and Competitiveness 11, no. 1 (2021): 42–50. http://dx.doi.org/10.5937/jemc2101042z.
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Present times are changing rapidly, people are becoming increasingly active, and we often find ourselves in a situation over which we have no control. Nowadays we know many types of insurance with which we can take care of our financial security. It is important for individuals to choose the most appropriate type of insurance according to their needs and life span. It is extremely important for young people to start saving for their future as soon as possible in the type of life insurance. The main objective of this paper is what proportion of young people already have insurance or are already thinking about it and why not. We were also interested in what the decisive factors are that make young people decide to buy insurance and why not. Research has shown that young people are aware of the importance of insurance, but most of them do not have adequate financial resources and are insufficiently informed about the types of insurance.
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Dash, Mihir. "The Internal Rate of Return Model for Life Insurance Policies." Asian Journal of Finance & Accounting 8, no. 2 (September 10, 2016): 70. http://dx.doi.org/10.5296/ajfa.v8i2.9721.
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<p>Life insurance policies are no longer seen solely as a means of insuring life. Due to many new features introduced by life insurers, they are seen in the new light of serving savings and even investment purposes besides the basic purpose of insuring life. The present study discusses the rates of return given by different types of policies, and the effect of mortality on these rates of return across age, sum assured, and maturity period in each type of policy studied.</p><p>The findings indicate that different types of policies give different rates of return and that mortality does have an effect on the rates of return. Endowment plans have higher rate of return with mortality incorporated, while for unit-linked investment plans, the rate of return is higher when it is treated purely as an investment instrument. The study also revealed that the unadjusted and mortality-adjusted rates of return follow a linear relationship that is very similar to the capital asset pricing model. The study opens a further scope of research by extending the methodology to include other relevant risk factors besides mortality, and for different types of policies across companies.</p>
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Amron, Amron, Usman Usman, and Ali Mursid. "Buying decision in the marketing of Sharia life insurance (evidence from Indonesia)." Journal of Islamic Marketing 9, no. 2 (June 11, 2018): 370–83. http://dx.doi.org/10.1108/jima-02-2017-0013.
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Purpose The purpose of this study is to examine the effect of satisfaction (SAT) and trust (TRS) on word of mouth (WOM) and buying decision (BD) for Sharia life insurance in the Muslim society of Indonesia. Design/methodology/approach The research design was taken from 386 Muslim customers who held Sharia life insurance policies using the approach of purposive sampling in four cities in Indonesia, namely, Jakarta, Surabaya, Makassar and Medan. The hypothesis testing used structural equation modeling. Findings The research results show SAT and TRS have effects on WOM. Moreover, WOM has a significant effect on the BD of the customers of the Sharia life insurance product. Research limitations/implications This study focused only BD of customers who bought Sharia life insurance products, so the results cannot be generalized to other types of Sharia insurance. Therefore, future research could consider other Sharia insurance products, such as Sharia general insurance. Practical implications In relation to the testing of SAT and TRS on WOM, this study examined the influence of the two variables on WOM and BD. This study can serve as reference for Sharia life insurance companies when formulating promotion strategy. Originality/value This study justified the strong association between SAT and TRS for WOM and BD in Sharia life insurance in an integrated way.
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Qehaja, Dr Sc Rrustem. "Legal-Civil aspect of types of Immaterial Damage." ILIRIA International Review 3, no. 2 (December 31, 2014): 193. http://dx.doi.org/10.21113/iir.v3i2.124.
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Causing of damage is accompanied with causing of responsibility for its compensation. Human being in the daily life is often threatened by various risks which along with the causing of bodily injuries in some cases may bring also causes of death.From the legal doctrine, in Kosovo and in the region, related to nomination of material and immaterial damage, in addition there may also be found other nominations including the property damage and non-property damage or as differently called moral damage[1], but the basic distinction in this division stands at its compensation.Subject of analysis of this work shall be focused with particular emphasis in Kosovo with some superficial comparisons to the neighbour countries.The only formula of indemnification for the immaterial damage according to insurance coverage remains the satisfaction[2] expressed in monetary value which according to LMTPI[3] and the Directive of the Council of European Parliament underwent positive amendments in viewpoint of increase of amounts of insurance.[4]In context of this work, only some types of immaterial damage shall be reviewed, including:- Damage in form of physical distress,- Damage in form of fear and- Damage in form of spiritual distress because of reduction of life activities.
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Supriadi, Nanang. "PEMODELAN MATEMATIKA PREMI TUNGGAL BERSIH ASURANSI UNIT LINK SYARIAH." Al-Jabar : Jurnal Pendidikan Matematika 8, no. 2 (December 19, 2017): 165. http://dx.doi.org/10.24042/ajpm.v8i2.1883.
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The exact risk factor can be managed by transferring the risk to the other party (in this case the insurance company). In this paper will be discussed more life insurance, as the development now there are types of insurance combined with investment, which is popular with the term Unit Link insurance. Unit link Syariah began to be launched as one of the fulfilment of the high needs of the community, the privilege of the product Unit of Islamic links is actually located in the elements of the laws in accordance with Islamic Syariah. The issues that will be discussed are how to get a single premium model of life insurance unit link Syariah with life insurance and investment fund allocation invested in investment product with a big interest rate of risk (financial approach) and investment product with the value of return maximum (actuarial approach). The resulting model is then implemented in case of examples by comparing the two approaches to see the shortcomings and advantages of Unit link lifetime life insurance when compared to life insurance. The result obtained from this research is the benefit obtained from Unit-linked sharia insurance on average will be greater if compared with life insurance for life, maximum benefit will be obtained Insurance Unit Link of sharia using actuarial approach compared to financial, but benefit with a relative financial approach more stable than actuarial approaches that tend to fluctuate.
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Roenganan, Sorrawee, Masnita Misran, and Nattakorn Phewchean. "A Study of Life Internal Rate of Return." WSEAS TRANSACTIONS ON MATHEMATICS 20 (April 2, 2021): 122–33. http://dx.doi.org/10.37394/23206.2021.20.13.
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Life insurance, not included as a part of the legal obligation in some countries, is one of the investment approaches that might not stand high in the public favor for some people since this is a type of investments that the investor cannot know beforehand the exact return, and the returns completely depend on uncertainty of the policy specification in some circumstances. Similar to the other kinds of investment, investors in life insurance products have been seeking a tool for investment evaluation. However, currently there are no accurate tools that can provide the value of the investment in a life insurance product sensitive to the uncertainty. Internal rate of return is the basic tool that buyers or bankers may apply in order to find the rate of return of this type of investment. The investment decision tool is one of the most important keys that investors have utilized upon making their decisions on investments. Therefore, in this research, we propose a new mathematical model with applications for investment decision, being an extension of the internal rate of return by taking into account the life probability, considering different types of life insurance policies, and other factors specified on life insurance investments such as the premium, the death benefit, the maturity value, the sum insured, the lapse rate, the surrender value, the annuity certain, and the lapse rate with different genders and ages. This newly proposed model is named as the "Life Internal Rate of Return" or Life-IRR model. By using the sample data for both males and females aged 30 years old with expected benefit of 100,000 baht for different types of life insurance policies which are endowment plan, whole life plan and retirement plan, the results show that, for males, the highest life rate of returns is that obtained from the retirement plan (3.633692%), and the lowest life internal rates of returns is that obtained from the endowment plan (2.384443%), while the whole life plan offers moderate life rate of returns of 2.427941%. For females, the highest life rate of returns is that obtained from the retirement plan (3.335189%), and the lowest life internal rates of returns is that obtained from the whole life plan (2.104658%), while the endowment plan offers moderate life rate of returns of 2.308062%. The sensitivity analyses of the life internal rates of return perform the natural characteristics of life insurance.
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Korneyev, Maxim, German Stoianov, and Anton Grytsenko. "Background of insurance service and strategy for particular customer circles." Geopolitics under Globalization 1, no. 1 (December 29, 2016): 30–35. http://dx.doi.org/10.21511/gg.01(1).2017.04.
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The article is dedicated to the development of services and conditions of cooperation directed to insurance in the premium circle of clients under globalization. The circle of premium customers in addition to their requirements was described. Extended types of insurance are disposed in the article in order to develop the relationship between customer and insurer for most efficient partnership. The main reasons which caused the low level of insurance market development in Ukraine were proposed both with theoretical variety of their decisions. Proposals about methodical necessity of separating life and non-life insurance companies in the domestic market are disposed due to recommendations of the strategical development of insurance company. Methodological approach to the customer attraction procedure is represented for insurance sales management improvement.
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Zhao, Wenxia. "Effect of air pollution on household insurance purchases. Evidence from China household finance survey data." PLOS ONE 15, no. 11 (November 12, 2020): e0242282. http://dx.doi.org/10.1371/journal.pone.0242282.
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In recent years, the health and economic effects of air pollution have attracted considerable attention, and health and insurance services have been closely related to residents’ welfare. However, there are few studies on the influence of pollution on household purchases of insurance. Using data from the 2013 and 2015 China Household Finance Surveys, this study investigates the effect of air pollution on insurance purchases using Logit and Poisson regression models. It is found that air pollution significantly increases the probability of household insurance purchases and the level of premium expenditure, although the impact of air pollution on insurance purchases shows a degree of heterogeneity. Health insurance is more sensitive to air pollution than life insurance and other types of insurance. In areas where NO2 and O3 are the main types of pollutants, air pollution has a greater impact on household insurance purchases.
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HUDA, Mokhamad Khoirul, Agus Yudha HERNOKO, and Ridwan KHAIRANDY. "The Characteristics of Non-Litigation Resolution for Life Insurance Lawsuit in Indonesia." Journal of Advanced Research in Law and Economics 8, no. 8 (September 3, 2018): 2419. http://dx.doi.org/10.14505//jarle.v8.8(30).12.
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This study analyzed the characteristics of non-litigation resolution for life insurance lawsuit in Indonesia. The result found that the non-litigation solution for life insurance lawsuit in Indonesia must be through Department of Mediation and Arbitration of Insurance (in Indonesia, known as BMAI). When the mediation -as the legal action from a costumer- was objected, the lawsuit would proceed to the adjudication. When the customer won on this adjudication level, the insurance company was then obligated to do some payment as mentioned on the insurance policy. Furthermore, when the legal action of a customer was objected, the customer was then free to do an arbitrage legal action. The arbitration was final and had fixed legal power. Thus, any appeal, cassation, or judicial review could not be held. The solution for life insurance lawsuit through BMAI has several characteristics such as quick in procedures, dynamic, innovative, cheap, and low budget. In addition, the dispute solution through BMAI is confidential, quick in time, and supported by some experts on related types of lawsuit, thus, it may result in fair judgment.
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Ramlau-Hansen, H. "Life Insurance Accounting at Current Values: A Danish View." British Actuarial Journal 3, no. 3 (August 1, 1997): 655–73. http://dx.doi.org/10.1017/s1357321700005079.
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ABSTRACTTraditional life insurance accounting standards rely on various types of book and cost values, the result being that the income and balance sheet statements do not necessarily give a true and transparent picture of the result of the life business. As examples, assets are typically stated at a mix of cost, current and amortised cost values, whereas life insurance provisions are calculated according to the approved technical basis.In this paper, it is suggested that this deficiency can be corrected by preparing life insurance accounts at current value. The proposed method implies that the life insurance provisions shall amount to the present value of the company's net liabilities to the policyholders including a provision for future bonus distribution. Moreover, any unrealized investment reserves are thrown into light, and it is shown how a bonus equalization provision at current value may serve as a key indicator of the financial strength of the company.The method has been designed primarily for the Danish market, but aspects of the method should be of relevance more widely.Finally, the results are illustrated by a number of numerical examples.
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Koijen, Ralph S. J., and Motohiro Yogo. "The Cost of Financial Frictions for Life Insurers." American Economic Review 105, no. 1 (January 1, 2015): 445–75. http://dx.doi.org/10.1257/aer.20121036.
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During the financial crisis, life insurers sold long-term policies at deep discounts relative to actuarial value. The average markup was as low as −19 percent for annuities and −57 percent for life insurance. This extraordinary pricing behavior was due to financial and product market frictions, interacting with statutory reserve regulation that allowed life insurers to record far less than a dollar of reserve per dollar of future insurance liability. We identify the shadow cost of capital through exogenous variation in required reserves across different types of policies. The shadow cost was $0.96 per dollar of statutory capital for the average company in November 2008. (JEL G01, G22, G28, G32)
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Møller, Thomas. "Risk-Minimizing Hedging Strategies for Unit-Linked Life Insurance Contracts." ASTIN Bulletin 28, no. 1 (May 1998): 17–47. http://dx.doi.org/10.2143/ast.28.1.519077.
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AbstractA unit-linked life insurance contract is a contract where the insurance benefits depend on the price of some specific traded stocks. We consider a model describing the uncertainty of the financial market and a portfolio of insured individuals simultaneously. Due to incompleteness the insurance claims cannot be hedged completely by trading stocks and bonds only, leaving some risk to the insurer. The theory of risk-minimization is briefly reviewed and applied after a change of measure. Risk-minimizing trading strategies and the associated intrinsic risk processes are determined for different types of unit-linked contracts. By extending the model to the situation where certain reinsurance contracts on the insured lives are traded, the direct insurer can eliminate the risk completely. The corresponding self-financing strategies are determined.
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Baskot, Bojan. "Modelling home equity conversion loans with life insurance models." Ekonomski anali 58, no. 199 (2013): 127–64. http://dx.doi.org/10.2298/eka1399127b.
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Home equity represents a reserve that can be used for providing additional money for its owners during their retirement. Life insurance models can be successfully applied to model home equity conversion loans. The home equity conversion loan is a financial product that provides a certain flexibility by using home equity as a resource for a quality life during retirement. Home equity conversion loans do not have a predetermined maturity date, as do conventional loans. But, like every loan, it must be repaid. One potential advantage of using a home equity conversion loan during tough financial times instead of some types of need-based assistance is that eligibility is straightforward. Home equity conversion loans can be useful tools in the process of pension system reform.
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Muthulakshmi, P. "Are General Insurance Companies Efficient in their Performance? – A Comparison." Ushus - Journal of Business Management 17, no. 3 (July 1, 2018): 1–7. http://dx.doi.org/10.12725/ujbm.44.1.
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The insurance sector has witnessed significant changes in the last few years, specifically due to the effects of liberalisation, globalisation, and privatisation. It is imperative to compare and study the earnings and profitability of public sector non-life general insurance companies in India. The public sector non-life general insurance companies are competing with each other, and also with the private players in the same industry and thereby reducing the processing costs and facilitating the innovation of different types of policies across the geographic boundaries. In this paper, secondary data is used to analyse the earnings and profitability of non-life general insurance companies in India by using certain ratios which are available exclusively to evaluate the performance of insurance companies such as Claim Ratio, Expenses Ratio, Combined Ratio, Investment Income Ratio and Return on Equity Ratio.
, , , Ratio Analysis
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Preda, Ana, Mirela Popescu, and Imola Drigă. "The impact of covid-19 on global insurance market." MATEC Web of Conferences 342 (2021): 08012. http://dx.doi.org/10.1051/matecconf/202134208012.
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The purpose of the paper is to present the changes occurred on global insurance markets during the current pandemic situation. The effects are largely felt through asset risks, weaker premium growth prospects, and also insurers’ long-term investment. Developed markets, particularly life ones, are likely to shrink in real terms as a result of the economic slowdown. Higher mortality rates due to the coronavirus pandemic are affecting the bottom lines of many life insurers. The main trends in this sector in last years, is based on the most important aspects such as, written premiums, and benefits paid, types of the life insurance contracts and density and penetration degree of the life insurance sector.
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Tuffahati, Hulwah, Sepky Mardian, and Edy Suprapto. "Pengukuran Efisiensi Asuransi Syariah Dengan Data Envelopment Analysis (DEA)." JURNAL AKUNTANSI DAN KEUANGAN ISLAM 4, no. 1 (March 6, 2019): 1–23. http://dx.doi.org/10.35836/jakis.v4i1.27.
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This research is aimed to measure the efficiency of Islamic Insurance Companies in Indonesia by using Data Envelopment Analysis (DEA). The sample used in this research are the Islamic Insurance Companies that publishes their full financial statements from the years 2012-2014. The variables in this study consists of two kinds of variables, namely input variables and output variables. The variable input is the total assets and the cost of commissions. While the variable output is the gross contribution and investment income. This study uses the intermediation approach with input orientation and use three types of measurements are the measurement of the efficiency of technical efficiency, pure technical and scale. The results of this study are in the groups of Islamic General Insurance Companies and Islamic Life Insurance Companies there are no company that achieve optimal efficiency levels in the three types of measurements.Whereas in the group Syariah General Insurance Unit are 2 companies optimally efficient in 3 measurements or by 28.57% of the total companies sampled in this group. And the group Syariah Life Insurance Unit are 4 companies optimally efficient in 3 measurements or 25% of total companies sampled in this group.
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Antonów, Kamil. "Prawo ubezpieczeń społecznych a prawo ubezpieczeń gospodarczych (osobowych)." Opolskie Studia Administracyjno-Prawne 16, no. 3 (September 17, 2019): 49–64. http://dx.doi.org/10.25167/osap.1197.
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In the paper, the author compares social insurance law with commercial (personal) insurance law, regarding the both types of insurance as different legal disciplines with different social and economic purposes. In the common and compulsory social insurance, the social purpose connected with provision of insurance cover takes precedence, not only due to fulfillment of individual profits of individual insured persons, but also with regard to interests of other risk community members. Differently, voluntary personal insurance is a symptom of individual prudence undertaken most commonly to increase the economic standard of family procurement, as well as to fulfill business interests of insurance institutions, which is related to the commercial character of such insurance. Regardless of the aforementioned, the both types of insurance have a common subject of protection consisting in granting a guarantee to cover any damage caused by accidents influencing in a negative way an area of life, health and ability to work of persons covered by such insurance. Therefore, the term of insurance risk (social in social insurance and commercial or private in personal insurance) is fundamental in the subject matter and the nature of granted insurance cover consists in bearing such risk (danger) by the insuring party.
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KULYNA, Halyna, and Yaroslav FARION. "WORLD MARKET OF INSURANCE SERVICES IN THE CONDITIONS OF CHANGE THE PARADIGM OF GLOBAL ECONOMIC DEVELOPMENT." WORLD OF FINANCE, no. 3(52) (2017): 48–59. http://dx.doi.org/10.35774/sf2017.03.048.
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Introduction. Global changes in society and the rapid development of financial technologies identify major trends in the global insurance market. At the same time there are changes to the functioning of the global insurance market and the organization of insurance companies it according to the new paradigm of the economic community. Purpose. The aim of the research is to evaluate the trends of the global insurance market, identifying characteristics and problematic aspects of its operation in the changing paradigm of progress, to identify key priorities for further evolution in the regional dimension. Results. The features and problems outlined aspects of the global insurance market in terms of a paradigm shift. The estimation of trends in its evolution in terms of developed and developing countries. The basic innovations in insurance-related robotics market development and risks of cyber-attacks, information and digitalization society. The basic priorities of the further evolution of the global insurance market in regional terms. The ways of improvement principles Solvensy II, which will improve the efficiency of the European insurance market. Conclusion. For today for the world market of insurance services characteristic are next tendencies and range of problems of further advancement: acceleration of increase of volume of insurance bonuses, that get insurers from the risk types of insurance, life-insurance and reinsurance; activations of demand are on insurance services in countries that develop, especially in China, to South Korea and others like that; declines of cost of insurance products in the field of commercial insurance and strengthening of insurance interest in cyber-insurance and insurances of robots; consolidations of leading insurers are in a few highly developed countries.
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Fairless, Elaine. "The Direct Marketing of Life Assurance in the United Kingdom." Journal of the Staple Inn Actuarial Society 28 (March 1985): 183–84. http://dx.doi.org/10.1017/s0020269x00009798.
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This paper describes the basic principles, methods and techniques of direct marketing, particularly as they relate to the Insurance Industry. It concentrates on those areas that are peculiar to this art and which would not necessarily be familiar to the Actuarial Profession in the normal course of events. The paper therefore has a marketing rather than a technical bias. Legislation relating to this business is set out briefly and a review of the types of insurance product marketed by this method is included. The paper concludes with some of the problems direct marketing presents to the Actuary and with some thoughts for the future.
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Lin, Hsien Ta. "Two-Stage Evaluation of Life Insurance Industry in Taiwan Using Data Envelopment Analysis." Advanced Materials Research 468-471 (February 2012): 2588–98. http://dx.doi.org/10.4028/www.scientific.net/amr.468-471.2588.
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This study sourced the 2010 data of 25 Taiwanese life insurance companies, and conducted data envelopment analysis (DEA) to evaluate their operating efficiencies. The results can provide references for insurance companies and relevant institutions. The findings showed that there are nine DMUs with an overall efficiency of 1 under DEA at the single stage. Under DEA production efficiency evaluation, there are 15 DMUs with an overall efficiency of 1. Under second stage investment efficiency evaluation, there are 8 DMUs with an overall efficiency of 1. The management matrix diagram classifies 25 life insurance companies into four types, and suggestions are provided for each type of companies for improvements. The evaluation model of two-stage DEA can help measure operational performance and determine the different operations of each stage. The findings indicated that most companies are high product efficiency and low profit or lower product efficiency and profit than other insurance companies. The result can serve as decision references for relevant supervisory authorizes and investors, and in particular, provide reference indicators for life insurance companies, or the supervisory could modify relevant law under not affecting inventors’ benefits.
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Taek Yi, Ho, Alan J. Dubinsky, and Chae Un Lim. "Determinants of telemarketer misselling in life insurance services." Journal of Services Marketing 26, no. 6 (September 7, 2012): 403–18. http://dx.doi.org/10.1108/08876041211257891.
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PurposeThe purpose of the article is to present and test a model regarding important factors that may help reduce unethical behavior (i.e. misselling) of salespeople in the financial services industry.Design/methodology/approachTo test the hypotheses, telemarketers from the life insurance industry in South Korea were surveyed (n=204).FindingsUsing structural equation modeling, the results indicate that: ethics training is positively related to salesperson ethical attitude; ethical climate is positively related to salesperson ethical attitude; selling pressure is unrelated to ethical attitude; competitive intensity is positively related to salesperson ethical attitude; competitive intensity is unrelated to misselling; and misselling is inversely related to salesperson ethical attitude, positively associated with product complexity, and positively related to product variety.Research limitations/implicationsFuture empirical work could: investigate different variables from those utilized in this study; consider inter‐country and gender differences; use alternate sources of data to examine stability of the findings; and employ samples of firms in other industries and other marketing channels. Limitations include a limited number of study variables, use of solely the telemarketing channel for life insurance, a preponderance of female respondents, and potential for socially desirable responses.Practical implicationsManagement should seek to maintain a high ethical attitude among sales agents to help foster a reduction in unethical behavior. Sales personnel should receive extensive ethics training to help enhance their ethical attitude in the job. Salespeople should also seek to establish and maintain long‐term relationships with their customers and to pursue long‐term profitability. Sales managers should seek to educate consumers about the various types of financial products, their respective strengths and weaknesses, and the appropriate conditions under which they should be purchased.Originality/valueThe potential for financial services industry salespeople to behave unethically has received extensive research attention. A key area, though, which has been virtually ignored is antecedents of misselling of financial services. The article seeks to address partially this gap in the literature.
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Khanal, Nirdosh. "Review on Insurance and their Present Status in Nepalese Economy." Management Dynamics 23, no. 1 (March 9, 2020): 239–52. http://dx.doi.org/10.3126/md.v23i1.35583.
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The study aims to overview the types of insurance operating in Nepal, product delivered by them and status of insurance market in Nepalese economic development. The paper is based on secondary data and literature reviews. Insurance can be acknowledged as tool that shares risk, offers financial protection, minimizes the financial distress and accelerates the pace of economic growth. Insurance encourages saving in the society and collects the scattered fund in term of premium and invest for maximization. Presently 40 insurance companies (19 life insurance, 20 non-life insurance and 1 reinsurance) are operating in Nepal providing diversified range of services. Recently agriculture insurance on crop and livestock sector and health insurance policy is being offered through many governmental and private insurance companies of Nepal. Insurance Board statistics of 2017 revealed total premium of 46.97 billion rupees and 2.03% contribution in total gross domestic product. We cannot deny the fact that insurance market of Nepal is witnessing major obstacles in terms of new product innovation, service issues related to consumers and time lapse of long-term policy. The study concludes that with little improvisation based on market research and consumer awareness can lead insurance companies & the concept to a peak level in Nepal.
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Ponnet, Jolien, Robin Van Oirbeek, and Tim Verdonck. "Concordance Probability for Insurance Pricing Models." Risks 9, no. 10 (October 8, 2021): 178. http://dx.doi.org/10.3390/risks9100178.
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The concordance probability, also called the C-index, is a popular measure to capture the discriminatory ability of a predictive model. In this article, the definition of this measure is adapted to the specific needs of the frequency and severity model, typically used during the technical pricing of a non-life insurance product. For the frequency model, the need of two different groups is tackled by defining three new types of the concordance probability. Secondly, these adapted definitions deal with the concept of exposure, which is the duration of a policy or insurance contract. Frequency data typically have a large sample size and therefore we present two fast and accurate estimation procedures for big data. Their good performance is illustrated on two real-life datasets. Upon these examples, we also estimate the concordance probability developed for severity models.
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Drissi, Ramzi. "Mathematical Risk Modeling: an Application in Three Cases of Insurance Contracts." International Journal of Advances in Management and Economics 8, no. 6 (October 30, 2019): 01–10. http://dx.doi.org/10.31270/ijame/v08/i06/2019/1.
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Risk is often defined as the degree of uncertainty regarding the future. This general definition of risk can be extended to define different types of risks according to the source of the underlying uncertainty. In this context, the objective of this paper is to mathematically model risks in insurance. The choice of methods and techniques that allow the construction of the model significantly influence the responses obtained. We approach these different issues by modeling risks in three base cases: basic insurance of goods, life insurance, and financial risk insurance. Our findings show that risk modeling allowed us to better measure certain events, but did not allow us to predict them accurately due to a lack of information. Therefore, good modeling of the risk determinants makes it possible to modify the probability associated with the occurrence of a risk. While it cannot predict exactly when a risk will occur, it can help make decisions that will reduce its effects. Keywords: Basic insurance, Life insurance, Mathematical models, Financial risk, Biometric function.
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Demyanyuk, I. "Dynamics of Ukrainian insurance market development through the prism of top-rating indicators of insurance companies." Scientific Horizons 93, no. 8 (2020): 57–64. http://dx.doi.org/10.33249/2663-2144-2020-93-8-57-64.
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Insurance is a powerful catalyst for development of economy around the world. The domestic market of insurance services promotes to the redistribution of risks in the economy and forms the social protection of the population. Constant changes in economic processes and improvement of the provisions of state regulation form the relevance of the study of changes in insurance market indicators. The purpose of the study is to establish the dynamics of development of the insurance market in Ukraine through the prism of the top rating of insurance companies, including analysis of indicators of Zhytomyr region and to identify major gaps in the insurance sector and ways to remove it. The key tasks include: analysis of insurance payments and payouts of the top rating of insurance companies of Ukraine; assessment of the insurance market of Zhytomyr region in terms of insurance types; analysis of risks and prospects of the insurance market in the conditions of COVID-19. General scientific and statistical methods became research methods, namely: system analysis and generalization; methods of scientific abstraction, observation and comparison. The level of insurance payments and insurance payouts according to the top rating of insurance companies in Zhytomyr region and in Ukraine in general is assessed. A tendency to reduce the number of insurance companies due to changes in government regulation is detected. The specific weight of insurance payments and insurance payouts of Zhytomyr region within Ukraine is determined. A need to restore public confidence in the insurance market in order to increase the percentage of life insurance is detected. Leading companies in risky types of insurance in Zhytomyr region are identified. The risks and prospects of the insurance market in a pandemic are studied. The types of insurance that will suffer mostly from COVID-19 are identified. Ways to solve the problems of the modern insurance market in Ukraine are offered. Prospects for further research in this area are to improve regulations and to evaluate the actual indicators of the insurance market in a pandemic.
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Hurrell, Rebecca, Ben J. Di Mambro, and Gillian A. Doody. "Impact of compulsory detention under the Mental Health Act 1983 on future visa and insurance applications." Psychiatrist 35, no. 1 (January 2011): 5–8. http://dx.doi.org/10.1192/pb.bp.110.029819.
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Aims and methodTo assess the extent to which psychiatric history, with specific regard to compulsory psychiatric admission, is questioned in visa, insurance and permit applications. Application forms for the top UK destinations for immigration, work and travel visas, six types of insurance, and driving, sporting and vocational permits were analysed.ResultsPsychiatric history is questioned in some applications across all visa types. Hospital admission, but not compulsory psychiatric admission, is questioned in some immigration visas. Psychiatric history is not questioned in mortgage protection, car or pet insurance but it is questioned in some travel, life and health insurance applications, as is hospital admission. The majority of permit applications questioned psychiatric history and one vocational permit considered compulsory psychiatric admission.Clinical implicationsThe majority of visa, insurance and permit application forms enquire about past medical and psychiatric history. Information concerning detention under the Mental Health Act is very rarely questioned, indicating that a direct link between detention and access restriction is not evident.
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Jaya, Tiara Juliana, Yullina Devvie Sari, and Roi Anju Immanuel. "Strategies For Determining Sharia Insurance Target Market." Jurnal Ilmiah Ekonomi Islam 7, no. 1 (March 1, 2021): 90. http://dx.doi.org/10.29040/jiei.v7i1.1934.
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The purpose of this research is to know the strategy of determining the target market in PRUlink Sharia assurance products pt. Prudential life assurance. The method used in this study is qualitatively descriptive. Descriptive statistical analysis techniques, stages of data analysis techniques Data collection, Data reduction data reduction, Presentation of data Presentation data, Withdrawal of conclusions. Strategy to determine the target market on PRUlink sharia assurance account products at PT. Prudential Life Assurance is: use the six o concept strategy so that the target market type. Types of target market selected, observation to the location, Muslim community, Grouping of insurance policy candidates, Ability factor by looking at a salary range of 2 million, and Prospective insurance policy that is at productive age for those between the ages of 25-40 years.
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Macedo, Miguel, Jorge Brito, Carlos Cruz, and Ana Silva. "Methodological Proposal for the Development of Insurance Policies for Building Components." CivilEng 1, no. 1 (May 19, 2020): 1–9. http://dx.doi.org/10.3390/civileng1010001.
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Insurance is a growing economic activity within the construction sector. Homes and buildings are perhaps the most important investment an individual makes in his/her lifetime. Nevertheless, the market for insurance coverage policies applied to the building envelope is in an embryonic stage, mainly due to the lack of knowledge in terms of risk and costs associated to the failure of these elements. This study provides an innovative and methodological approach to the development of an insurance product that targets the obsolescence of building components. In defining a structured approach to the design of insurance policies for buildings, the use of the service life prediction models proposed in this study allows establishing different types of insurance policies with different risk premiums and evaluating different losses and risks accepted by the owners, thus promoting the increase of the patrimonial value of the asset and reducing the risk of premature failure and the uncertainty of the costs of maintenance during its life cycle.
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Macedo, Miguel, Jorge de Brito, Carlos Oliveira Cruz, and Ana Silva. "Methodological Proposal for the Development of Insurance Policies for Building Components." CivilEng 1, no. 1 (May 19, 2020): 1–9. http://dx.doi.org/10.3390/ce1010001.
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Insurance is a growing economic activity within the construction sector. Homes and buildings are perhaps the most important investment an individual makes in his/her lifetime. Nevertheless, the market for insurance coverage policies applied to the building envelope is in an embryonic stage, mainly due to the lack of knowledge in terms of risk and costs associated to the failure of these elements. This study provides an innovative and methodological approach to the development of an insurance product that targets the obsolescence of building components. In defining a structured approach to the design of insurance policies for buildings, the use of the service life prediction models proposed in this study allows establishing different types of insurance policies with different risk premiums and evaluating different losses and risks accepted by the owners, thus promoting the increase of the patrimonial value of the asset and reducing the risk of premature failure and the uncertainty of the costs of maintenance during its life cycle.
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Duda, Jiří. "Convenience of providing employee benefits compared to increase of gross wages." Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis 52, no. 6 (2004): 67–76. http://dx.doi.org/10.11118/actaun200452060067.
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Using tax allowances when providing contributions for life insurance, pension insurance and food, employers significantly decrease their costs in comparison with the traditional increase of wages of employees (the saves range in several hundreds of crowns per one employee). These benefits are more profitable than increase of wages for employees, as well. The paper analyses and mathematically reasons these financial benefits, and compares advantages of employee benefits and wage increase.A disadvantage for employees is that these financial means (contributions for pension and life insurance) can not be immediately used for their needs, and are bound with the negotiated types of insurance. This is, perhaps, also the reason why employees of selected firms preferred wage increase before employee-benefits. The above-mentioned employee benefits can become an important factor of stabilisation of current employees, or acquiring new, needed employees. The paper briefly characterises these employee benefits.
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Horáková, Galina, František Slaninka, and Zsolt Simonka. "The Reduction of Initial Reserves Using the Optimal Reinsurance Chains in Non-Life Insurance." Mathematics 9, no. 12 (June 11, 2021): 1350. http://dx.doi.org/10.3390/math9121350.
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The aim of the paper is to propose, and give an example of, a strategy for managing insurance risk in continuous time to protect a portfolio of non-life insurance contracts against unwelcome surplus fluctuations. The strategy combines the characteristics of the ruin probability and the values VaR and CVaR. It also proposes an approach for reducing the required initial reserves by means of capital injections when the surplus is tending towards negative values, which, if used, would protect a portfolio of insurance contracts against unwelcome fluctuations of that surplus. The proposed approach enables the insurer to analyse the surplus by developing a number of scenarios for the progress of the surplus for a given reinsurance protection over a particular time period. It allows one to observe the differences in the reduction of risk obtained with different types of reinsurance chains. In addition, one can compare the differences with the results obtained, using optimally chosen parameters for each type of proportional reinsurance making up the reinsurance chain.
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KENELEY, MONICA J. "Marketing the Message: The Making of the Market for Life Insurance in Australia, 1850–1940." Enterprise & Society 16, no. 4 (September 21, 2015): 929–56. http://dx.doi.org/10.1017/eso.2015.40.
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During the late nineteenth century, sales of life insurance products in Australia increased at a rapid rate. An investigation of the way in which life insurance products were targeted to the consumers provides insights not only into the marketing approaches, but also the changing nature of the mutual organization. This article uses a “stages” approach to analyze the evolution of the marketing message. The experience of Australian mutual insurers suggests that marketing strategies, as with other types of organizational skills, evolve in response to both the prevailing business environment and the ability of the firm to acquire and implement new knowledge and ways of conducting business.
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Crom, D. B., S. Lensing, S. Rai, M. Snider, and M. M. Hudson. "The attainment of life goals by adult survivors of childhood cancer." Journal of Clinical Oncology 25, no. 18_suppl (June 20, 2007): 9536. http://dx.doi.org/10.1200/jco.2007.25.18_suppl.9536.
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9536 Background: Adult survivors of childhood cancer are at risk for disease- and therapy-related morbidity, which can adversely affect marriage and employment status, ability to obtain health insurance and access to care. Our aim was to identify factors associated with survivors’ ability to achieve these goals. Methods: We surveyed 1,437 survivors of different types of childhood cancer who were >18 years of age and >10 years from diagnosis. We compared our cohort's data to normative data in the Medical Expenditure Panel Survey and the Current Population Surveys of the U.S. Census Bureau. Survivors were categorized into 3 groups (hematological malignancy, solid tumors, or central nervous system tumors) and whether they had received radiation therapy. Results: The majority of respondents (response rate 65%) were survivors of hematological malignancies (71%), white (91%), and working full-time (62%); (43%) were married. When compared to age- and gender-adjusted national averages, only survivors of hematological malignancy who received radiation therapy were significantly less likely to be married than the general population (44% vs. 52%). Full-time employment among survivors was lower than national norms, except for survivors of hematological malignancy who had not received radiation therapy. The prevalence of having any health insurance, especially public insurance, was higher in all diagnostic groups than in the general population. Difficulty obtaining care was reported by 11% of all survivors; 12% reported not receiving needed health care. Additionally, 26.9% reported having been denied insurance. Current unemployment and lack of insurance were significantly associated with difficulty in obtaining care (p=0.049 and p<0.001, respectively). CNS tumor survivors reported greater difficulty in obtaining needed care (p=0.030). Current employment and solid tumor diagnosis were associated with lower rates of denial of insurance (p=0.018 and p=0.003, respectively). Conclusion: Subgroups of adult childhood cancer survivors are at risk of problems with attaining life goals, including access to care. This has serious implications given the known long-term secondary medical complications in this at- risk population. No significant financial relationships to disclose.
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Prokopieva, Evgenia L. "Factors for the effective functioning of the regional insurance markets in Russia." Voprosy Ekonomiki, no. 10 (October 8, 2019): 146–55. http://dx.doi.org/10.32609/0042-8736-2019-10-146-155.
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The article investigates the specifics of the functioning of the insurance market in Russia and the regions. Factors are structured and problems of regional development of insurance are revealed. The intensive growth of life insurance against the background of reduction of property types of insurance is revealed. The mechanism of mutual influence of economic and geographical features of development of the region and its insurance market is traced. It is shown that the development of the insurance business is influenced by the economic development of the region. In the applied aspect, the analysis is carried out in the context of federal districts. In particular, the comparison of GRP and insurance premiums is presented, the regional structure of insurance premiums by types of insurance is analyzed. It is revealed that the level of development of voluntary insurance dominates the insurance market of the Central federal district. The least developed market is the North Caucasus federal district, but other federal districts are characterized by extremely low rates of insurance premiums, payments and unstable level of payments. The regional problem is the lack of registered insurance entities in most regions. This entails the lack of differentiated policies of insurers in the regions and overestimation of the cost of insurance. This situation is due to the limited demand for voluntary insurance and related intermediary services. An obstacle to the development of insurance in the regions is the poor quality of insurance services, which is confirmed by the statistics of complaints of policyholders against the subjects of insurance business. In turn, the limited economic potential of regional insurance has a negative impact on the socio-economic development of the region, since enterprises and citizens do not receive full insurance coverage, and the regions do not have investment resources.
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Dmitriev, Alexey S. "Structural features of life insurance markets in Russia and the West." RUDN Journal of Economics 28, no. 4 (December 15, 2020): 787–96. http://dx.doi.org/10.22363/2313-2329-2020-28-4-787-796.
Full textAbstract:
The relevance of this research is due to the need to develop the financial sector of the domestic economy, which has become obvious in the context of the global economic crisis. This paper examines the structural features of life insurance markets in Russia and the West. The purpose of the study is to assess the state of the competitive environment in the markets under consideration and draw conclusions about the barriers to entry for new companies. The methodology of the work includes structural, statistical, system, logical, and other types of analysis, as well as the synthesis of the results obtained. Using the example of the Russian and Western life insurance markets, the role of geographical segments in shaping the overall market environment is evaluated. Based on the results of the research, the necessity of partial transplantation of the Western model of market environment formation based on monopolistic competition of market participants is justified.