scholarly journals IMPACT OF COVID-19 ON THE LIFE INSURANCE DEVELOPMENT IN SERBIA

2021 ◽  
Author(s):  
Milena Nikolić ◽  
Vladimir Mitić ◽  
Kristina Kaličanin
Keyword(s):  
Life Insurance ◽  
Insurance Development

Information technology and insurance development in Sub-Saharan Africa

2021 ◽  
pp. 026666692110289
Author(s):  
Taiwo Akinlo
Keyword(s):  
Information Technology ◽  
Mobile Phone ◽  
Life Insurance ◽  
Sub Saharan Africa ◽  
Method Of Moment ◽  
African Countries ◽  
Insurance Premiums ◽  
Negative Effect ◽  
Sub Saharan ◽  
Insurance Development

The study examined the relationship between information technology and insurance development in 40 sub-Saharan African countries during the period 2000-2017. The study employed System Generalised Method of Moment for the estimations. Life insurance premiums, non-life insurance premiums and total insurance premiums are used to measure life insurance, non-life insurance and total insurance, respectively. The information technology is measured by mobile phone, fixed telephone and Internet penetrations. The study found that the Internet promotes non-life insurance while its effect on life and total insurance is insignificant. The mobile phone produced a negative effect on life insurance, non-life insurance and total insurance. However, fixed telephone significantly contributed to life insurance, non-life insurance and total insurance. Based on these findings, there is a need for insurers to encourage their client to use information technology tools for insurance activities and also increase their interaction with their customers.

scholarly journals PROBLEMS OF LIFE INSURANCE DEVELOPMENT IN TERMS AN UNSTABLE FINANCIAL ENVIRONMENT

2019 ◽  
Vol 1 (17) ◽  
pp. 100-106
Author(s):  
Olena Borysiuk ◽  
Maria Datsyuk-Tomchuk
Keyword(s):  
Life Insurance ◽  
Crucial Role ◽  
Social Protection ◽  
Integrated System ◽  
Living Standards ◽  
Number Of Factors ◽  
Financial Environment ◽  
Insurance Development

In modern conditions, life insurance plays a crucial role for the economy of the country and its citizens, because it is aimed at financial and social protection of the population through the organization of an integrated system of material security in the event of various events associated with life, health, disability or other events, which can lead to a significant imbalance of family or personal budgets, and a decline in living standards. The main trends of life insurance development in Ukraine presented in the study demonstrate that current processes of globalization have a serious impact on the complications of consumer and savings properties of life insurance through the merger of insurance, credit and investment products. At the same time, in Ukraine, this type of insurance is hampered by a number of factors, due to which it does not become widespread. That is why the article focuses on the problems of life insurance development in the context of financial imbalances and proposes directions for their activation in Ukraine.

Regulatory Examinations and Life Insurance Development

2020 ◽  
Author(s):  
Bojan Srbinoski ◽  
Klime Poposki ◽  
Patricia Born ◽  
Karel Van Hulle
Keyword(s):  
Life Insurance ◽  
Insurance Development

scholarly journals DEVELOPMENT OF «LIABILITY INSURANCE» IN GEORGIA FOR THE LAST 10 YEARS» (OVERVIEW OF 2008 - 2018)

2020 ◽  
Vol 15 (20) ◽  
pp. 60-72
Author(s):  
Roland Bregvadze
Keyword(s):  
Life Insurance ◽  
Human Life ◽  
Private Insurance ◽  
Medical Insurance ◽  
Liability Insurance ◽  
Insurance Companies ◽  
Legal Person ◽  
Important Place ◽  
Personal Insurance ◽  
Insurance Development

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.

scholarly journals LIFE INSURANCE DEVELOPMENT AND ECONOMIC GROWTH: EVIDENCE FROM DEVELOPING COUNTRIES

2018 ◽  
Vol 43 (2) ◽  
pp. 1-28
Author(s):  
RELWENDÉ SAWADOGO ◽  
IDRISSA M. OUEDRAOGO ◽  
SAMUEL GUERINEAU
Keyword(s):  
Economic Growth ◽  
Developing Countries ◽  
Life Insurance ◽  
Insurance Development

scholarly journals An application of Fuzzy DEMATEL electronic life-insurance development

2013 ◽  
Vol 3 (2) ◽  
pp. 491-498 ◽  
Author(s):  
Seyed Vali Tabatabaei ◽  
Mahsa Shahhosseini ◽  
Afsaneh Mozaffari ◽  
Zohre Taherdoost
Keyword(s):  
Life Insurance ◽  
Fuzzy Dematel ◽  
Insurance Development

scholarly journals LIFE INSURANCE UNDER REFORMING THE PENSION INSURANCE SYSTEM

2018 ◽  
Vol 4 (4) ◽  
pp. 223-232
Author(s):  
Ruslana Pikus ◽  
Anna Khemii
Keyword(s):  
Life Insurance ◽  
Pension System ◽  
Insurance Companies ◽  
Pension Insurance ◽  
Insurance System ◽  
Pension Systems ◽  
State Pension ◽  
Pension Insurance System ◽  
Practical Recommendations ◽  
Insurance Development

The purpose of the paper is to generate practical recommendations on the prospects of life insurance development under reforming the pension insurance system in Ukraine. Methodology. In the article, a considerable attention is paid to international experience, the implementation of which is relevant for Ukraine today. In determining the place of life insurance in European pension systems, the experience of Spain and the United Kingdom is considered, which is sufficiently indicative for Ukraine and can serve as a model for reforming the national pension system. Methodological basis of the article are methods of scientific cognition, which enable to expose basic conformities to the law of development of the pension systems in this countries and place of life insurance in them. Such methods are in particular used as: analysis and synthesis – during the study of reforming pension systems, their detailed analysis and definition of their peculiarities; scientific abstraction – with the purpose of forming of theoretical generalizations and conclusions; also, the method of scientific synthesis, forecasting method, econometric modelling for forecasting the development of life insurance in Ukraine up to 2020. Results. The pension insurance system of Ukraine is at the stage of reformation by introducing compulsory accumulation of pension funds and the development of voluntary non-state pension insurance. The main financial intermediaries providing voluntary pension accumulation services in Ukraine are: banks – through the possibility of saving on retirement deposits, insurance companies – through life insurance products, and non-state pension funds (NPFs) – through the voluntary participation of citizens in such funds. The article discusses the key differences in the activity of the given subjects in the system and also determines the place of life insurance itself in the system of pension insurance in Ukraine. Practical significance. Having considered the key macroeconomic indicators of Ukraine’s economic development, the article predicts the volume of investments into NPFs and insurance premiums for life insurance companies using econometric methods; the benefits and prospects of life insurance are determined. Practical recommendations on the prospects of life insurance development under reforming the pension insurance system in Ukraine are formulated. Value/originality. The modelling of the development of the non-state level of the pension system of Ukraine allowed determining the dynamics of growth of contributions to life insurance companies and contributions to the NPFs in 2017-2020 and drawing a conclusion on the positive prospects for the development of the life insurance market in Ukraine and its special role in the successful reformation of Ukraine’s pension system.

scholarly journals Life insurance, financial development and economic growth in South Africa: An application of the autoregressive distributed lag model

2014 ◽  
Vol 4 (4) ◽  
pp. 81-90 ◽  
Author(s):  
Athenia Bongani Sibindi
Keyword(s):  
Economic Growth ◽  
South Africa ◽  
Granger Causality ◽  
Financial Development ◽  
Life Insurance ◽  
Insurance Sector ◽  
Long Run ◽  
Short Run ◽  
Per Capita ◽  
Insurance Development

The life insurance sector may contribute to economic growth by its very mechanism of savings mobilisation and thereby performing an intermediation role in the economy. This ensures that capital is provided to deficient units who are in need of capital to finance their working capital requirements and invest in technology thereby resulting in an increase in output. In this way, it could be argued that life insurance development spurs financial development. In this article we investigate the causal relationship between the life insurance sector, financial development and economic growth in South Africa for the period 1990 to 2012 by applying the ARDL bounds testing procedure. We make use of life insurance density as the proxy for life insurance development, real per capita growth domestic product as the proxy for economic growth and real broad money per capita as the proxy for financial development. We test for cointegration amongst the variables by applying the bounds test and then proceed to test for Granger causality based on the error correction model. Our results confirm that the variables are cointegrated and move in tandem to each other in the long-run. The results also indicate that the direction of causality runs from the economy to the life insurance sector in the short-run which is consistent with the “demand-following” insurance-growth hypothesis. There is also evidence of bidirectional Granger causality running from the economy to financial development and vice versa, both in the long-run and short-run. The results also reveal that life insurance complements financial development in bringing about economic growth further lending credence to the “complementarity” hypothesis.

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