scholarly journals E-Proposal to Expedite Customer's Decision Making on Committing Insurance Transaction

2015 ◽  
Vol 21 (4) ◽  
pp. 612-617
Author(s):  
Idris Gautama So ◽  
Rosi Yosevie
Keyword(s):  
Decision Making ◽  
Life Insurance ◽  
Object Oriented ◽  
Success Factor ◽  
Insurance Company ◽  
Life Insurance Company ◽  
Web Based ◽  
Object Oriented Design ◽  
Premium Income ◽  
New System

Objectives of this paper are to analyze the current system of policies selling in a particular Life Insurance company, especially for unit link life insurance product to understand the problems or gaps in the company. According to the result of Business Inteligence (Analysis of Insurance Industry) from the particular Life Insurance, assets of the company are big enough to do some investments in technology to gain more premium income, but the fact is premium income of said Life Insurance company was not good enough if it is compared with its competitors. So based on that problem, it is needed to find the requirements of new system as a solution, then the design a new web-based application of e-proposal to customer's decision making of the Life Insurance company. Methodology which is used in this research are colecting data by library research and field research. After that, analysis based on the theory Fishbone Diagram Analysis, Critical Success Factor Analysis, and Object Oriented Analysis will be carried out. On the design phase, Object Oriented Design is used and then evaluate the result of a new system design by Eight Golden Rules of designing user interface. Result of this research is a web based application to make the distribution of proposal faster and more simple. The procedure of new system will also make the information of policies benefit can be easily accessed by Customer and Insurance Agencies, so the company will also gain customer satisfaction and loyalty. In the end, we can conclude that e-proposal is the right solution for the company to drive customer's decision making and finally will improve Life Insurace company's product selling and also increase the premium income.

scholarly journals Interest-Rate Changes and the Value of a Non-life Insurance Company

2003 ◽  
Vol 33 (02) ◽  
pp. 347-364
Author(s):  
Thomas Albrecht ◽  
Keyword(s):  
Interest Rate ◽  
Life Insurance ◽  
Asset Allocation ◽  
Insurance Company ◽  
Portfolio Risk ◽  
Life Insurance Company ◽  
Risk Capital ◽  
Management Perspective ◽  
Premium Income ◽  
Risk Managers

How does a change in the risk-free interest-rate affect the value of a non-life insurance company or portfolio? Risk managers typically argue that there should be little impact as long as assets and liabilities are properly matched. However, the risk-management perspective focuses on existing assets and liabilities, while neglecting the value of future business potential. This paper argues that interest-rate changes can have a significant impact on the appraisal value of a non-life insurance company, even if assets and liabilities are matched. This impact can be positive as well as negative, depending on the underlying parameters. Relevant parameters include reserving intensity, combined ratio, business growth-rate, asset allocation, risk-capital relative to premium income and the correlation between interest-rate and technical insurance results.

scholarly journals Interest-Rate Changes and the Value of a Non-life Insurance Company

2003 ◽  
Vol 33 (2) ◽  
pp. 347-364 ◽  
Author(s):  
Thomas Albrecht ◽  
Keyword(s):  
Interest Rate ◽  
Life Insurance ◽  
Asset Allocation ◽  
Insurance Company ◽  
Portfolio Risk ◽  
Life Insurance Company ◽  
Risk Capital ◽  
Management Perspective ◽  
Premium Income ◽  
Risk Managers

How does a change in the risk-free interest-rate affect the value of a non-life insurance company or portfolio? Risk managers typically argue that there should be little impact as long as assets and liabilities are properly matched. However, the risk-management perspective focuses on existing assets and liabilities, while neglecting the value of future business potential. This paper argues that interest-rate changes can have a significant impact on the appraisal value of a non-life insurance company, even if assets and liabilities are matched. This impact can be positive as well as negative, depending on the underlying parameters. Relevant parameters include reserving intensity, combined ratio, business growth-rate, asset allocation, risk-capital relative to premium income and the correlation between interest-rate and technical insurance results.

Company–customer conflicts and ethical decision-making of life insurance agents: the role of ethics institutionalization

2020 ◽  
Vol 46 (9) ◽  
pp. 1145-1163
Author(s):  
Lu-Ming Tseng
Keyword(s):  
Decision Making ◽  
Life Insurance ◽  
Ethical Decision ◽  
Ethical Decision Making ◽  
Insurance Company ◽  
Life Insurance Company ◽  
Content Type ◽  
Insurance Agents ◽  
Insurance Product ◽  
Ethics Institutionalization

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.

Tuesday Evening

PMLA ◽  
1935 ◽  
Vol 50 (4) ◽  
pp. 1357-1357
Keyword(s):  
Life Insurance ◽  
Insurance Company ◽  
Life Insurance Company ◽  
Local Committee ◽  
Tuesday Evening

On Tuesday evening the members of the Association, and attending members of their families, were entertained with a buffet supper at the Queen City Club at 7:30 p.m. at the invitation of Messrs. Joseph S. Graydon, John J. Rowe, and other Cincinnati friends of the Association. Following this supper an entertainment arranged by the Local Committee was presented in the Hall of the Western and Southern Life Insurance Company. Attendance: about 900.

Hr Practices And Hr Policies At Icici Prudential Life Insurance Company Ltd

Think India ◽  
2019 ◽  
Vol 22 (3) ◽  
pp. 348-354
Author(s):  
T. Krishna Veni ◽  
G. Kalyani
Keyword(s):  
Human Resources ◽  
Life Insurance ◽  
Insurance Company ◽  
Life Insurance Company ◽  
Hr Practices ◽  
Commercial Center

The job of Human Resources is changing as quick as innovation and the worldwide commercial center. Generally, the HR Department was seen as organization, kept individual documents and different records, dealt with the enlisting procedure, and gave other authoritative help to the business. Those circumstances are different. The positive consequence of these progressions is that HR experts have the chance to assume a progressively vital job in the business. The test for HR chiefs is to stay up with the latest with the most recent HR developments—mechanical, lawful, and something else.

Indian Life Insurance Market and Corporate Performances: A Study of Selected Firms

2016 ◽  
Vol 4 (1) ◽  
Author(s):  
Joy Chakraborty ◽  
Partha Pratim Sengupta
Keyword(s):  
Market Share ◽  
Life Insurance ◽  
Market Concentration ◽  
Insurance Market ◽  
Insurance Companies ◽  
Insurance Company ◽  
Life Insurance Company ◽  
Insurance Sector ◽  
Life Insurers ◽  
Company Limited

In the pre-reform era, Life Insurance Corporation of India (LICI) dominated the Indian life insurance market with a market share close to 100 percent. But the situation drastically changed since the enactment of the IRDA Act in 1999. At the end of the FY 2012-13, the market share of LICI stood at around 73 percent with the number of players having risen to 24 in the countrys life insurance sector. One of the reasons for such a decline in the market share of LICI during the post-reform period could be attributed to the increasing competition prevailing in the countrys life insurance sector. At the same time, the liberalization of the life insurance sector for private participation has eventually raised issues about ensuring sound financial performance and solvency of the life insurance companies besides protection of the interest of policyholders. The present study is an attempt to evaluate and compare the financial performances, solvency, and the market concentration of the four leading life insurers in India namely the Life Insurance Corporation of India (LICI), ICICI Prudential Life Insurance Company Limited (ICICI PruLife), HDFC Standard Life Insurance Company Limited (HDFC Standard), and SBI Life Insurance Company Limited (SBI Life), over a span of five successive FYs 2008-09 to 2012-13. In this regard, the CARAMELS model has been used to evaluate the performances of the selected life insurers, based on the Financial Soundness Indicators (FSIs) as published by IMF. In addition to this, the Solvency and the Market Concentration Analyses were also presented for the selected life insurers for the given period. The present study revealed the preexisting dominance of LICI even after 15 years since the privatization of the countrys life insurance sector.

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