scholarly journals Review and ranking the private insurance companies in Iran based on TOPSIS model

2016 ◽  
Vol 4 (2) ◽  
pp. 120 ◽  
Author(s):  
Leila Asadi ◽  
Ali Esmaeilzadeh Moghri
Keyword(s):  
Performance Index ◽  
Private Insurance ◽  
Financial Statements ◽  
Insurance Companies ◽  
Insurance Company ◽  
Financial Indicators ◽  
Performance Indexes ◽  
Strong Performance ◽  
Proper Performance ◽  
Topsis Model

Insurance companies are the most important economic institutions in each country and they support other economic entities. Their proper performance play an important role in the booming the economy. Insurance companies to achieve effective and strong performance should be familiar with performance of competitors and themselves and according to their information take necessary measures. For this purpose, the current study aims to rank the private insurance companies. In this regard, financial and non-financial indicators as well as performance index for 17 private insurance companies are extracted over 4 years (2011 to 2014) based on their financial statements. The weight of each index was determined using the Shannon entropy. Then, insurance companies were ranked using TOPSIS. The results showed that based on financial indicators, Arman insurance company in 2011 and 2012 had the optimal performance from the standpoint of the criteria (1st). In the years, 2013 and 2014 Kosar insurance Company and Mihan insurance companies were at the 1st place. In addition, Alborz insurance Company had a good performance in terms of performance indexes in 2011 and 2013, (1st). In the years 2012 and 2014, Parsian and Pasargad Insurance Companies ranked 1st. Based on non-financial indicators, Asia insurance company in the period under review (2011 to 2014) ranked in the first place.

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 Analysis of the cause of loss of PT. Asuransi Jiwasraya (Persero)

2020 ◽  
Vol 17 (4) ◽  
pp. 199-206
Author(s):  
Girang Permata Gusti
Keyword(s):  
Financial Statements ◽  
Insurance Companies ◽  
Investment Fund ◽  
Insurance Company ◽  
Financial Problems ◽  
Investment Funds ◽  
Descriptive Research ◽  
Stock Investment ◽  
Insurance Payment

Research purposes – to analyse the causes of losses faced by PT. Asuransi Jiwasraya and review in more detail, what are the factors of the cause of the financial problems faced by Jiwasraya, so that the company has stood for 160 years With assets in the year 2017 of 45 trillion rupiah, a sudden loss of 13 trillion rupiah with a debt of 49 trillion rupiah in 2019.Design / Methodology / Approach – This research uses descriptive research method, which aims to explain a phenomenon or event systematically and as it is, this research was conducted to obtain information about the previous situation and the current situation to be analyzed so that the core of the problem that causes the research can be found. This study uses a case study model that occurred at PT. Asuransi Jiwasraya, which is experiencing financial problems due to mismanagement and misplacement of customers 'investment funds, has caused it to be unable to return investment funds and pay customers' investment interest.Finding – (1) Management's mistake in placing the customer's investment fund is the main cause of insurance payment to the customer. (2) JS Saving is a not unit link investment where the risk is entirely borne by the insurance company. The lure of a High Return JS Saving Plan is offered with a guaranteed return of 9 percent to 13 percent from 2013 to 2018 with a disbursement period every year. (3) Jiwasraya manipulates its financial statements so that they can look good to investors. (4) Management is too aggressive in investing to pursue the company's profit targets and target payment obligations to all customers who buy investment products.Research limitations – This research is limited to cases that occur in the insurance company Jiwasraya, with no comparison with other insurance companies or other investment companies.Originality/value – The authenticity of the analysis and observation to obtain valid and accountable data, the results are used to find the main cause of the losses that occur at the insurance company under study. Keywords: Jiwasraya Insurance; Stock Investment; Mismanagement

scholarly journals Health Reform and the Preservation of Confidential Health Care for Young Adults

2012 ◽  
Vol 40 (2) ◽  
pp. 383-390 ◽  
Author(s):  
Lauren Slive ◽  
Ryan Cramer
Keyword(s):  
Health Care ◽  
Young Adults ◽  
Private Insurance ◽  
The United States ◽  
Insurance Companies ◽  
Total Charge ◽  
Insurance Company ◽  
Provider Type ◽  
Seek Health Care ◽  
Financial Obligation

A major issue facing the health of both minors and young adults in the United States is the often unintentional lack of confidentiality maintained in the provision of sensitive health services. Studies have shown that access to confidential care is crucial for minors seeking preventive care and treatment for sensitive services. Evidence demonstrates that many minors will not seek health care if confidentiality cannot be ensured, which can have significant negative health implications; this finding can be extended to young adults covered under their parents health plans. Young adults, not just minors, also often forgo important sensitive services when they face a breach of confidentiality, which most likely occurs when their parents have access to the adult child's health information.Currently, private insurance companies generally send the policyholder an explanation of benefits (EOB) whenever a service is provided under a plan. EOBs generally include information identifying the patient, provider, type of care received, total charge for services, amount paid by the insurance company, and any financial obligation of the policyholder.

scholarly journals Determinants of corporate performance: Empirical evidence from the insurance companies listed on Abu Dhabi securities exchange (ADX)

Accounting ◽  
2021 ◽  
pp. 143-150
Author(s):  
Abdullah AL-Mutairi ◽  
Hani Naser ◽  
Kamal Naser
Keyword(s):  
Word Of Mouth ◽  
Financial Statements ◽  
Bad News ◽  
Abu Dhabi ◽  
Insurance Companies ◽  
Panel Regression ◽  
Insurance Company ◽  
Good Image ◽  
Gcc Countries ◽  
Positive Factor

The purpose of this study is to identify factors that impact the performances of the insurance companies listed on ADX. Factors employed in this study include liquidity, general and administration expenses, risk, size, tangibility and age. The annual financial statements of all seventeen insurance companies listed on ADX covering the period 2013-2019 were sampled and analyzed through a panel regression. The analysis indicates that corporate age is the most significant positive factor that determine the profitability of the insurance companies listed on ADX. The durability of the insurance company in the GCC countries suggests that the firm has created good image, attract more customers, increased revenues to cover expenses and make profit. Thus, age is an important positive factor of the performance of insurance companies listed on ADX. Moreover, it is obvious that dissatisfied customer with the service of an insurance company will not only cease dealing with it, they deliver bad news about it by using the word of mouth and the powerful social media that play efficient role in formulating the image about the company. The outcome of this study might help investors in formulating their decision to invest in an insurance company. For instance, it helps them to focus on the age of the insurance company before they make their decision.

scholarly journals The Effect of Premium on Profit of Life Insurance Companies in Sharia Units of Pt Panin Dai-Ichi Life Indonesia

2019 ◽  
Vol 3 (2) ◽  
Author(s):  
Ridwan Tabe
Keyword(s):  
Life Insurance ◽  
Hypothesis Test ◽  
Financial Statements ◽  
Insurance Companies ◽  
Insurance Company ◽  
Simple Linear Regression ◽  
Life Insurance Company ◽  
Analysis Techniques ◽  
Normality Test ◽  
Anova Table

Abstract:This study discusses the effect of premiums on life insurance company profits in Sharia Unit of PT Panin Dai-Ichi Life Indonesia's. The main problem is the effect of premiums on profits of Life Insurance companies in Sharia Unit of PT Panin Dai-Ichi Life Indonesia from 2012-2016.The type of research method is quantitative. The population in this study is financial statements from PT Panin dai-Ichi Life Indonesia, while the sample is financial statements from 2012 - 2016. Data analysis techniques used in this study are normality test, hypothesis test, and T test using simple linear regression analysis.The results of this study concluded that the premium has an effect on profit where the value of T count - 4.366 <from the value of T table l2.101. While the significance is 0,000 smaller than 0.05 and for the value of F count is 19,067 > 4.41 F table. The significance of anova table 0.000 is smaller than 0.05, so Ho is rejected and Ha is accepted. It means that, there is a significant effect of premium on profit.Keywords: Premium, Profit, Life Insurance

Magnetic Resonance Imaging Utilization in Iran

2021 ◽  
Author(s):  
Sajad Ramandi ◽  
Mahya Abbasi ◽  
Ali Mohammad Mosadeghrad
Keyword(s):  
Magnetic Resonance Imaging ◽  
Magnetic Resonance ◽  
Private Insurance ◽  
High Rate ◽  
Insurance Companies ◽  
Insurance Company ◽  
Resonance Imaging ◽  
Statistical Population ◽  
Study Results ◽  
The Status

Abstract Background: The increased use of diagnostic and therapeutic equipment and services increases the costs of the health system and insurance organizations. Evaluating the status of utilizing these services can provide a clear picture of the demand rate, responding process and methods of providing the relevant services. This study aimed to examine the status of using magnetic resonance imaging (MRI) services among the insured people by one of the insurance companies.Methods: This research was a descriptive and cross-sectional study. The studied statistical population included all insured persons covered by a private insurance company that had used the MRI services provided in hospitals and other diagnostic and treatment centers in 2018-2019. The data were analyzed using STATA and GIS statistical software.Results: In one contractual year, 22,738,215 medical expenses records have been filed in the entire country, out of which, 119,761 records (0.5% of all cases) were related to MRI services. The shares of the basic (main) insurer and supplemental insurance related to this service of the total MRI costs were estimated as 52,946,159,376 Rials (1,259,860.6077 USD) and 231,303,021,838 Rials (5,503,884.87252 USD), respectively. In the study, 102,024 people have used MRI at least once a year. The average cost of using MRI services at each time in the country was 2,373,470 Rials (56.47702 USD). The average number of referrals in the whole country was 0.07 times. The highest frequency of referrals was in Lorestan and Qom provinces, while Kerman and Sistan and Baluchestan provinces had the lowest frequency of referrals. The overall rate of utilization of MRI services in the country was estimated to be 6%.Conclusion: In general, the study results suggested a high rate of using MRI services in Iran, which can be due to the 100% coverage of costs by insurance companies and the increased access to health diagnostic and treatment services in the country.

scholarly journals Optimum Structure of Trends of Activities to prevent Chance Damages

1962 ◽  
Vol 2 (1) ◽  
pp. 76-83
Author(s):  
Antoni Banasinski
Keyword(s):  
Linear Programming ◽  
Private Insurance ◽  
Practical Importance ◽  
The Other ◽  
Insurance Companies ◽  
Socialist Economy ◽  
Insurance Company ◽  
Optimum Structure ◽  
Whole Number ◽  
Single State

In the socialist countries, where insurance — like the other primary sectors of the national economy — has been nationalized and is conducted by a single state-owned insurance company, a whole number of actuarial problems have arisen. These are problems which either did not interest the private insurance companies or else were marginal questions for them, of no great practical importance. The actuarial problems which have cropped up or have acquired particular importance in the conditions of socialist economy, include questions connected with evaluation of the efficiency of outlays for the insurance company's preventive activities intended to restrict the number and scope of chance damages). Henceforth we shall refer to expenditures of this sort as preventive outlays /expenditures/.One of the initial problems pertaining to the preventive activities of the state insurance monopoly is one which could be called the optimum structure of the trends of activities to prevent chance damages.We present the problem in the most simple form, formulating it so that it can be solved by generally-known calculus methods employed in linear programming (e.g. the simplex method given by G. B. Danzig in 1951).Let us assume that in a given period, e.g. in a year, the insurance company allocates a certain sum I for preventive purposes. Realization of these outlays is expected to reduce damage payments made by the insurance company during that period; let us call that decrease Q, the „savings” obtained by the insurance company.

scholarly journals The Utility of Zero-Inflated Models in the Estimation of the Number of Accidents in the Automobile Insurance Industry

Equilibrium ◽  
2010 ◽  
Vol 5 (2) ◽  
pp. 181-194
Author(s):  
Marija Del Carmen Melgar ◽  
Jose Antonio Ordaz
Keyword(s):  
Insurance Industry ◽  
Empirical Studies ◽  
Private Insurance ◽  
Positive Association ◽  
Insurance Companies ◽  
Automobile Insurance ◽  
Insurance Company ◽  
Count Data Models ◽  
Automobile Accidents ◽  
Private Insurance Company

The main purpose of the present paper is to provide an econometric model which estimates the number of automobile accidents that policyholders declare to their insurance companies, pointing out those variables that are significant in this process. Our empirical analysis is based on the data supplied by a private insurance company that operates in Spain, and on the zero-inflated count data models as methodology. We find a positive association between the levels of coverage and the accident rates, suggesting the existence of problems related to adverse selection and moral hazard. This result is one of the most important conclusions of our work and confirms the theoretical aspects pointed up by other empirical studies in the literature. Additionally, estimating the number of policyholders that suffered any accident but not declared, and how many these non-declared accidents are, could be very useful information for insurers to evaluate their risk planning. Our model attempts to reach this target as well.

scholarly journals Impacts of Reinsurance Operations on Significant Items of the Financial Statements of Commercial Insurance Companies According to Czech Accounting Legislation and International Accounting Standards

2015 ◽  
Vol 63 (6) ◽  
pp. 1867-1877
Author(s):  
Jana Gláserová ◽  
Eva Vávrová
Keyword(s):  
Phase Ii ◽  
Accounting Standards ◽  
Financial Statements ◽  
Insurance Companies ◽  
International Accounting Standards ◽  
Insurance Company ◽  
Commercial Insurance ◽  
Actual Fact ◽  
Ifrs 4 ◽  
The Impact

The principal aim of the paper is to determine the impact of reinsurance operations in commercial insurance companies, in accordance with the relevant accounting legislation, for certain significant items of the financial statements. In actual fact, the reinsurance operations affect the profit of a commercial insurance company, following the financial statements. The prerequisite for fulfilling the objective of the paper is to analyse the accounting legislation for reinsurance operations in commercial insurance companies. Attention will be devoted also to the method of accounting for reinsurance operations and their specific reporting in various parts of the financial statements of commercial insurance companies. The partial aim of this paper is to identify significant differences in the area of accounting of commercial insurance companies, based on the comparison of accounting practices of the issues examined in accordance with IAS/IFRS. In the conclusion, the authors will address the latest development of necessary steps in adopting the concept of IFRS 4 Phase II and accomplishing the process of the application of IFRS 4 Phase II to the accounts of commercial insurance companies.

scholarly journals Accounting and tax implications of the creation and use of technical provisions of commercial insurance companies

2013 ◽  
Vol 61 (7) ◽  
pp. 2123-2131 ◽  
Author(s):  
Jana Gláserová ◽  
Eva Vávrová
Keyword(s):  
Balance Sheet ◽  
Financial Statements ◽  
Insurance Companies ◽  
General Definition ◽  
Insurance Company ◽  
Commercial Insurance ◽  
The Creation ◽  
Definition Of ◽  
Methodological Aspects ◽  
The Impact

Entities such as commercial insurance companies are obliged to create technical provisions in order to fulfill their activities. Technical provisions are used to cover liabilities of commercial insurance companies arising from insurance and reinsurance activities. The principal aim of this paper is to determine the impact of the creation and use of technical provisions for some important items of the financial statements, which are liabilities, a balance sheet, profit and an income tax base. A prerequisite to fulfill the objective of the paper is to analyze the accounting legislation for technical provisions in an insurance company. The intention of the presented paper can be divided according to its conception into two parts. The first part of the paper is devoted to methodological aspects in relation to the general definition of the accounting principles and their importance in the accounting of commercial insurance companies. The second part deals with the methodological procedure of the accounting of the creation and use of technical provisions and the specifics of how they are reported in the financial statements of commercial insurers. Conclusions of the paper show contemporary issues in the analyzed area in the context of the financial crisis.

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