scholarly journals Insurance Distribution Carried Out by Insurers in Spain

2020 ◽  
pp. 179-195
Author(s):  
Javier Vercher-Moll
Keyword(s):  
Insurance Companies ◽  
Insurance Company ◽  
Governance System ◽  
Legal Requirements ◽  
Insurance Policies ◽  
New Policies ◽  
The Impact

AbstractIn this chapter I analyze the impact that Directive 2016/97 has on insurance companies. The new requirements for employees who distribute the insurance policies of the insurance company increase the protection for customers. In addition, these new requirements lead to a reform of the governance system of the insurance company. New policies, new procedure manuals are necessary to carry out the distribution of insurance by the insurance company. Therefore, I will study the new legal requirements and their impact on the Spanish regulations.

scholarly journals INCREASING THE COMPETITIVENESS OF INSURANCE COMPANY PRODUCTS AND SERVICES USING ECONOMIC AND MATHEMATICAL MODELING METHODS

2021 ◽  
Author(s):  
Mykhailo Demydenko ◽  
Ihor Pistunov
Keyword(s):  
Mathematical Model ◽  
Social Activity ◽  
Insurance Companies ◽  
Comprehensive System ◽  
Insurance Company ◽  
Competitive Advantages ◽  
Insurance Policy ◽  
Insurance Policies ◽  
The Impact

The competitiveness of an insurance company depends on the competitiveness of the products and services it introduces in the market. The competitive advantages of the insurance company are expressed in the attractiveness and competitiveness of insurance policies. An economic and mathematical model of increasing the competitiveness of the insurance company is proposed, which allows to calculate the integrated indicator of competitiveness of the insurance policy based on a comprehensive system of indicators characterizing the reliability of the insurance company, quality of its services, competitiveness, social activity. To analyze the impact of these indicators on the competitiveness of the insurance policy and identify areas for improving the efficiency and competitiveness of the insurance company. The competitiveness of an insurance company depends on the competitiveness of the products and services it introduces in the market. The assessment of the quality of insurance company services is compliance with the needs, requirements, and insurance interests of customers. This assessment is performed each time an individual client chooses to cooperate with an insurance company that meets his insurance interests and wishes. Therefore, the overall competitiveness of the enterprise depends on the competitiveness of products and services offered on the market. The competitive advantages of the insurance company are expressed in the attractiveness and competitiveness of insurance policies. The insurance market in recent years has shown consistently high growth, which makes it attractive for doing business. In these conditions, the task of modeling the activities of the insurance company in a highly competitive market environment becomes relevant. A mathematical model of increasing the competitiveness of the insurance company is proposed, which allows to calculate the integrated indicator of competitiveness of the insurance policy based on a comprehensive system of indicators characterizing the reliability of the insurance company, quality of its services, competitiveness, social activity. With the proposed model, insurance companies can objectively assess their weaknesses and strengths to ensure continuous growth and decent competition in a competitive market environment. The model allows you to select performance indicators and perform modeling and determine the consequences of changes in this indicator, analyze the impact of these indicators on the competitiveness of insurance policies and identify areas for improving the efficiency and competitiveness of the insurance company. By conducting such experiments, insurance companies can make more informed choices and decisions, analyze areas of competitiveness, and more efficiently allocate resources.

Managing uncertainty in a general insurance company

1990 ◽  
Vol 117 (2) ◽  
pp. 173-277 ◽  
Author(s):  
C. D. Daykin ◽  
G. B. Hey
Keyword(s):  
Computer Model ◽  
Flow Model ◽  
Insurance Companies ◽  
Simulation Methods ◽  
Insurance Company ◽  
Practical Applications ◽  
General Insurance ◽  
Alternative Approaches ◽  
The Impact

AbstractA cash flow model is proposed as a way of analysing uncertainty in the future development of a general insurance company. The company is modelled alongside the market in aggregate so that the impact of changes in premium rates relative to the market can be assessed. An extensive computer model is developed along these lines, intended for use in practical applications by actuaries advising the management of genera1 insurance companies. Simulation methods are used to explore the consequences of uncertainty, particularly in regard to inflation and investments. Some comments are made on the role of actuaries in general insurance. Alternative approaches to describing the behaviour of an insurance firm in the market are considered.

scholarly journals A STUDY ON PREFERENCE OF POLICYHOLDERS ABOUT PUBLIC AND PRIVATE LIFE INSURANCE COMPANIES IN TIRUNELVELI DISTRICT

2018 ◽  
Vol 6 (4) ◽  
pp. 105-110
Author(s):  
I. Meenakshi
Keyword(s):  
Public Sector ◽  
Life Insurance ◽  
Private Insurance ◽  
Marketing Strategies ◽  
Private Life ◽  
Insurance Companies ◽  
Insurance Company ◽  
Life Insurance Company ◽  
Public And Private ◽  
New Policies

There are currently, a total of 24 life insurance companies in India. Of these, Life Insurance Corporation of India (LIC) is the only public sector insurance company. All others are private insurance companies. The Life Insurance Corporation of India (LIC) is the largest life insurance company in India and also the country's largest investor. More and more new private insurance companies are coming up year after year. And, these new and private life insurance companies adopt aggressive marketing strategies to introduce their products and to tap the potential policyholders. It is witnessed that new policies like ULIPs are introduced by these new private life insurance companies. It is in this concept this study has been undertaken to assess and analyze the preference of policyholders towards insurance services offered by public and private life insurance companies in Tirunelveli district.

scholarly journals The impact of lending on bancassurance activity

2019 ◽  
Vol 13 (1) ◽  
pp. 171-181
Author(s):  
Elda Marzai Abliz
Keyword(s):  
Negative Impact ◽  
Distribution Channel ◽  
Solvency Ii ◽  
Capital Requirements ◽  
Financial Supervision ◽  
Insurance Companies ◽  
Insurance Company ◽  
Customer Base ◽  
Premium Income ◽  
The Impact

Abstract Due to financial crisis, and especially because of prudence in lending (retail, micro, and corporate), banks are looking for new sources of income, and bancasurance is clearly a potential source of revenue. Thus, in the financial market, the interests of two major components of it are met: banks maximize commission income, and insurers make access to the large customer base of banks. Bancassurance is a distribution channel of insurance products through bank branches, bringing important advantages for banks, insurance companies and customers. The main advantage for the bank is that earns fee amount from the insurance company, the insurance company increases customers data base and market share, the client satisfy his financial needs and requests in the same institution. Considering that in Romania, banks and insurers do not provide information on the number of insurances sold via the bancassurance distribution channel, as well as commissions obtained by banks for the insurance sale, to determine the development of bancassurance in Romania, we used the statistical data provided by the National Bank of Romania, on credit growth and data provided by The Financial Supervision Association, on the evolution of gross written premiums. Bancassurance is one of the most important insurance distribution channels, accounting for approximately 36% of the global insurance market, in 2016, Europe’s insurers generated total premium income of €1 189bn and had €10 112bn invested in the economy. Regarding to the risks of bancassurance business for banks and insurers, they mainly concern distinct capital requirements for the banking and insurance systems, which will be covered by the Basel III and Solvency II directives. This paper aims to analyze the influence of credit on the bancassurance activity in the last 5 years in Romania, the economic, political and legal factors that have a negative impact on the development of bancassurance, and also the calculating the correlation coefficient r (Pearson’s coefficient) and his result.

scholarly journals THE IMPACT OF THE INDUSTRIAL REVOLUTION 4.0 ON THE INSURANCE INDUSTRY AND WHETHER OF THE ASSETS AND INVESTMENTS PLAY A ROLE TO INVESTMENT YIELD?

2020 ◽  
Vol 8 (2) ◽  
pp. 345-351
Author(s):  
Iskandar Muda ◽  
Hafizah ◽  
Bunga Aditi ◽  
Hermansyur ◽  
Erlina
Keyword(s):  
Financial Services ◽  
Financial Stability ◽  
Industrial Revolution ◽  
Insurance Industry ◽  
Least Square Method ◽  
Partial Least Square ◽  
Least Square ◽  
Insurance Companies ◽  
Insurance Company ◽  
The Impact

Purpose of the study: This research aims to know the influence of the Industrial Revolution 4.0 era on the insurance industry on the side of assets and Investment insurance companies to Investment Yield Sharia Insurance in Indonesia. Methodology: This type of research is explanatory research. This type of research data is secondary data sourced from the Financial Services Authority (OJK) Republic of Indonesia period in 2016-2107. The tool of analysis in this research is the Partial Least Square method using Smart PLS statistics. Main Findings: The results are an influence of Assets and Investment on Investment Yield on insurance companies in the Industrial Revolution 4.0 era. In the era of the industrial revolution, 4.0 potential insurance improve economic growth through several aspects, namely promote financial stability. Facilitate trade and commercial activities. mobilize domestic savings. Offering a variety of risk management on capital. Increase more efficient allocation of capital and reduce the risk of loss and can increase Investment Yield for shareholders and stakeholders. Applications of this study: This research is the observation only on Sharia Insurance Company sample while other issuers are not observed in this study and this research implies that sharia insurance issuers are growing and contributing to their shareholders and shareholder. Novelty/Originality of this study: The first time observing the Sharia Insurance industry industrial Revolution 4.0 era and previous research to observe in Sharia banking.

scholarly journals Passenger insurance on the Russians railway transport. Automated subsystem of voluntary insurance against passengers accidents on the railway transport bases on the automated control system “Express”

2018 ◽  
Vol 77 (1) ◽  
pp. 27-33
Author(s):  
A. T. Sungatullina ◽  
I. B. Gumina ◽  
G. A. Antonova
Keyword(s):  
Control System ◽  
Insurance Companies ◽  
Insurance Company ◽  
Railway Transport ◽  
Long Distance ◽  
Automated Control ◽  
Insurance Policies ◽  
Automated Control System ◽  
Compulsory Insurance ◽  
The Moment

The article reviews the ways of insurance in railway transport, namely compulsory insurance of the civil liability of the carrier for causing damage to life, health, property of passengers and voluntary insurance of passengers on the basis of the management system for passenger transportations in the automated control system “Express”. In the case of compulsory insurance, a railway ticket for a longdistance train is a confirmation that the passenger is insured. No additional documents are needed. In the case of voluntary insurance, a passenger can purchase a voluntary insurance policy at the railway ticket office or through the website www: //rzd.ru. The ACS “Express” gives the opportunity for a passenger to issue a travel document for a long distance train and a policy of voluntary insurance against accidents in one of four insurance companies: PJSC “Rosgosstrakh”, LLC “Renaissance Insurance Group”, JSC “Insurance Company BLAGOSOSTOYANIE”, JSC “Insurance Company of the Gas Industry” (SOGAZ). At the moment each insurance company offers insurance premium of 3 par values with the relevant insurance amounts. The cost of voluntary insurance policies depends only on the sum insured and does not depend on such factors as the duration of the trip, the train category or the age of the insured. Insurance coverage is valid during the trip from the moment of announcement of boarding, but not earlier than 30 minutes before departure, and ends no later than one hour after the arrival of the insured passenger to the destination station, provided that it is located on the territory of the railway station or terminal. The insurance contract is concluded for one trip in longdistance railway transport. The information technology of voluntary insurance creates for passengers more attractive conditions, the comfort and safety of passenger transportation increases. The article provides the functional description and report examples of developed and implemented in the industrial operation software and analysis complex on the basis of the ACS “Express”, which includes automated work stations (AWS) “Insurance companies and complexes”, “Voluntary insurance” and “Inquiry on insured passengers by train”. This software and analytical complex implements tasks that ensure the formation of reference and analytical information, operational financial reporting on the sold voluntary insurance policies and monitoring of the demand indicators of insurance policies and insurance companies.

The impact of insurance company mandated compression stocking trial on rate of intervention in patients with symptomatic venous reflux disease

2011 ◽  
Vol 26 (6) ◽  
pp. 235-236 ◽  
Author(s):  
D Calcagno ◽  
J A Rossi
Keyword(s):  
Average Length ◽  
Venous Intervention ◽  
Insurance Companies ◽  
Compression Stocking ◽  
Insurance Company ◽  
Compression Stockings ◽  
Patient Reported ◽  
Cast Doubt ◽  
The Impact

Objective Insurance companies have criteria for a venous intervention to be a covered procedure, including symptoms, vein size, and a trial of conservative therapy with compression stockings. The goal of this study was to see the impact of such mandated stocking use on ultimate intervention. Method A retrospective review was done of prospectively gathered data entered in the electronic medical record. Two-hundred consecutive new patients evaluated at our vein center were included. Results Forty-four of the 200 patients did not require any procedures and 39 patients had procedures scheduled for small or asymptomatic venous changes that did not meet insurance criteria. This left 117 patients with venous symptoms in whom evaluation concluded that a corrective procedure could be performed. These interventions included largely radiofrequency ablation and phlebectomy. Of these 117 patients, 48 had previously used compression stockings. In the remaining 69 patients, stockings were provided on the day of initial consultation and these 69 patients served as the subjects for this review. At three month follow up, one patient reported the stockings help enough that she did not want to pursue correction. Two patients had continued pain and were planning correction once other unrelated issues resolved. Three patients said they never wore the stockings. Sixty-one patients had procedures performed. The average length of stocking use in patients who chose corrective procedures was 103 days. One patient could not be reached. Conclusion Of the patients that reported they used the stockings as prescribed, one chose chronic stocking therapy and 63 patients either had procedures or were planning procedures. Use of prescription stockings was effective in avoiding intervention in one of 64 cases (2%), despite an average trial of 103 days. These results cast doubt on the merits of the use of an insurance company mandated stocking trial.

Insuring a Vehicle With Two Insurance Companies for the Same Period Will Not Invalidate Respective Insurance Policies

1995 ◽  
Vol 10 (4) ◽  
pp. 351-353
Keyword(s):  
Abu Dhabi ◽  
Insurance Companies ◽  
Insurance Company ◽  
Insurance Policies ◽  
Insurance Compensation

AbstractThe Abu Dhabi Court of Cassation had (in an action filed by a claimant for the payment of insurance compensation against an insurance company in Abu Dhabi on the grounds that insuring a vehicle with two insurance companies for the same period and risk does not invalidate either of the policies) held that failure to declare

scholarly journals Measuring the effectiveness of intermediary loyalty programmes in the motor insurance industry: loyal versus non-loyal customers

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Manuel Leiria ◽  
Efigénio Rebelo ◽  
Nelson deMatos
Keyword(s):  
Insurance Industry ◽  
Binary Logistic Regression ◽  
Data Access ◽  
Insurance Companies ◽  
Insurance Company ◽  
Content Type ◽  
Customer Data ◽  
Insurance Policies ◽  
Motor Insurance ◽  
Value Propositions

PurposeThe insurance industry has not been able to effectively retain its customers and struggles to establish and maintain long-lasting relationships with them. The purpose of this paper is thus to identify the main factors that explain the cancellation of motor insurance policies by individual customers, considering the influence of intermediaries on their decisions.Design/methodology/approachThe data used in this research is based on a sample of 3,500 insurance policies that lapsed during the period of analysis between January and July 2017, against another sample of 3,500 policies that did not lapse, from a major insurance company in Portugal. Binary logistic regression was used for data analysis, using IBM SPSS software.FindingsAggressive tactics by insurance companies for customer acquisition may induce the cancellation of insurance policies. More valuable customers, the policies with higher premiums and recent claims, as well as the ancillary intermediaries and agents, are determinants of insurance cancellation. Conversely, the payment of policies by direct debit and without instalments reduces the probability of cancellations.Research limitations/implicationsThe main limitation of this study is the restriction on data access. Insurance companies are significantly resistant to sharing their customer data – including with academic researchers – even in an anonymised form.Practical implicationsThe paper highlights internal and external practices of insurance companies that should be reformulated to significantly improve their performance regarding product cancellation, related to customer information management, mistrust behaviours related to stakeholders and new value propositions that deepen the relationships with intermediaries.Originality/valueThis research developed a framework with which to identify the factors that are mainly associated with motor insurance cancellation and to predict its likelihood.

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