scholarly journals Consumer Extremism in the Insurance Market: Problem Statement

2021 ◽  
Vol 31 (3) ◽  
pp. 374-381
Author(s):  
Marina Stepanova
Keyword(s):  
Social Economic ◽  
Insurance Industry ◽  
Legal Aspects ◽  
Insurance Market ◽  
Problem Statement ◽  
Financial Position ◽  
The Relationship

Consumer extremism has recently taken the form of a mass phenomenon, gradually penetrating into the insurance industry. Since it negatively affects not only the reputation and financial position of individual insurers, but also the development of the insurance market as a whole, the task of finding ways to counteract the facts of unfair behavior of consumers of services is becoming urgent. It should be borne in mind that consumer extremism is a complex, multifaceted phenomenon: it has legal, and at the same time social, economic, psychological foundations, motives and consequences. Therefore, it is extremely important to go beyond the purely legal aspects in this research. In this regard, the purpose of the work was to identify the most significant aspects in the study of consumer extremism as a phenomenon that takes place in the insurance market. As a result of the study, we came to the conclusion that it is necessary to take into account both the consumer's polysubject connections, which arise in the insurance market, and the multidisciplinary ones, which are formed within a particular insurance transaction. When assessing a possible area of relations where consumer extremism can manifest itself, we should take into account all scenarios of consumer’s activity from the passive one, in which the relationship does not go beyond the «policyholder — insurer», to the proactive one, when representatives of the insurance infrastructure are involved in the relationship. In the result a set of measures has been offered which would help prevent consumer extremism cases while implementing insurance relationships.

scholarly journals The Effect of Marketing Deceptive Practices on the Organizational Mental Image from Customer Viewpoint (Analytical Study of the Insurance Industry)

2019 ◽  
Vol 27 (2) ◽  
pp. 44-66
Author(s):  
Majed Abdul Amir Mohsen ◽  
Ahmad Abdul Reda Enad
Keyword(s):  
Insurance Industry ◽  
Mental Image ◽  
Service Marketing ◽  
Marketing Mix ◽  
Insurance Market ◽  
Insurance Companies ◽  
The Impact ◽  
The Relationship ◽  
Important Activity

This study aimed to address the concept of deceptive marketing in the most important activity of companies, i.e., marketing, which is the lifeline on which companies depend on the process of financing and product selling. Additionally, through marketing, companies can communicate directly with customers, and this activity includes marketing practices that are deceptive or misleading. The study dealt with the presentation of the components of the marketing mix, and how each component can include deceptive or misleading practices. Marketers practice customer manipulation with the intention of changing customers' behavior and attitudes towards achieving the greatest possible profit in lesser time. With the spread of marketing deception and marketing fraud in various areas, the phenomenon is growing not only in product marketing but also in service marketing, especially insurance services, as many marketers and sales representatives believe that success and profit-making are associated with those practices. The study addressed many factors facilitating these practices, as well as the ways in which marketing deception is practiced and the impact of such practice on the perceptions that form in the minds of customers about companies. One of the most important objectives of the study was to substantiate the relationship between the dimensions of marketing deception and the dimensions of the mental image of the organization by relying on the statistical analysis of the initial data of the study, which was collected through questionnaire that was prepared for this purpose and distributed to a random sample of 225 customers of insurance companies operating in the insurance market in Iraq.   The most important findings of the study show that deceptive marketing practiced through the service marketing mix, among other dimensions, affects the mental image that the customers hold towards the organization in negative and varying ways. This study presents a number of recommendations, the foremost of which is the necessity of educating marketers and companies about the negativity of deceptive practices on the company in the long term, as well as paying attention to the mental image held by customers towards the insurance companies because of its impact on the formation of positive impressions towards the company, and thus increasing market share of the company through its reputation in the insurance  market .  

The Usefulness of Readability Formulas in the Insurance Industry

2015 ◽  
Vol 10 (4) ◽  
pp. 339-351
Author(s):  
Katarzyna Barczuk
Keyword(s):  
Final Section ◽  
Insurance Industry ◽  
Insurance Market ◽  
Insurance Companies ◽  
Text Readability ◽  
The Given ◽  
Readability Formulas

The aim of this paper is to characterize the most important methods which are used to determine the level of text readability. The author presents practical examples of the usage of chosen methods by foreign insurance companies. The final section of the study is completed with general conclusions relating to the application of the given solutions to the Polish insurance market. 

Buying with You, Selling with You, Praying with You

2017 ◽  
Author(s):  
Stefania Tutino
Keyword(s):  
Market Economy ◽  
Catholic Church ◽  
Social Economic ◽  
Catholic Theology ◽  
Religious Traditions ◽  
Social Views ◽  
Cultural Reality ◽  
The Relationship

This chapter presents a second case study showing another concrete example of the issues to which probabilism was applied. Like the previous chapter, this chapter puts the theoretical and theological discussions on probabilism into the concrete social, economic, and cultural reality of the post-Reformation Catholic Church. This chapter explores the relationship between Catholic theology and money lending by examining the key role that probabilism played in helping theologians to maintain the traditional Catholic ban on usury while at the same time engaging with the burgeoning money-market economy and with other religious traditions with different doctrinal and social views on money, such as Judaism.

Separatism in the Comoros: Some Legal Aspects

1998 ◽  
Vol 11 (2) ◽  
pp. 247-256 ◽  
Author(s):  
Gino J. Naldi
Keyword(s):  
International Law ◽  
Legal Aspects ◽  
Self Determination ◽  
Small Island ◽  
African Unity ◽  
Island State ◽  
Organization Of African Unity ◽  
State Of Affairs ◽  
Small Island State ◽  
The Relationship

Since its founding in 1963, the Organization of African Unity (OAU) has placed special emphasis on the preservation of the territorial integrity of African states. It has actively contributed to the development of relevant rules of international law, such as that of uti possidetis. Its opposition to the fragmentation of states has been absolute. However, the small island state of Comoros has challenged this state of affairs. The seemingly successful secession of ‘Anjouan’ has threatened the cherished principles of the OAU. This article critically analyzes the relationship between the principles at the heart of the dispute, those of self-determination and uti possidetis, and concludes that there is no legal proscription on the secession of ‘Anjouan’.

Rethinking Property and Society in Gondärine Ethiopia

2009 ◽  
Vol 52 (3) ◽  
pp. 89-106 ◽  
Author(s):  
Habtamu Mengistie Tegegne
Keyword(s):  
Nineteenth Century ◽  
Private Property ◽  
Social Economic ◽  
Economic Practices ◽  
The Relationship

Abstract:The historiographic question that this article asks is: How can historians uncover actual social and economic practices without imposing anachronistic standards and terminologies on the available evidence? The analysis focuses on the relationship between landlords and zégoch—a hitherto unrecognized and socially subservient class of peasants—in the context of social, economic, and cultural realities in eighteenth- and nineteenth-century Ethiopia. The thesis is that during this period the Ethiopian ruling classes gained their power and income primarily from ownership of rim land—a form of private property—and the labor of zégoch.

Pricing insurance policies with offsetting relationship

2021 ◽  
pp. 1-27
Author(s):  
Hanbali Hamza
Keyword(s):  
Insurance Market ◽  
Optimal Pricing ◽  
Price Discounts ◽  
Insurance Policies ◽  
Life Data ◽  
Pricing Decision ◽  
Pricing Process ◽  
Pairwise Correlations ◽  
Number Of Customers ◽  
The Relationship

Abstract This paper investigates the benefits of incorporating diversification effects into the pricing process of insurance policies from two different business lines. The paper shows that, for the same risk reduction, insurers pricing policies jointly can have a competitive advantage over those pricing them separately. However, the choice of competitiveness constrains the underwriting flexibility of joint pricers. The paper goes a step further by modelling explicitly the relationship between premiums and the number of customers in each line. Using the total collected premiums as a criterion to compare the competing strategies, the paper provides conditions for the optimal pricing decision based on policyholders’ sensitivity to price discounts. The results are illustrated for a portfolio of annuities and assurances. Further, using non-life data from the Brazilian insurance market, an empirical exploration shows that most pairs satisfy the condition for being priced jointly, even when pairwise correlations are high.

Chinese "Cancer Villages"

2020 ◽  
Author(s):  
Ajiang Chen ◽  
Pengli Cheng ◽  
Yajuan Luo
Keyword(s):  
Public Health ◽  
Economic Growth ◽  
Cultural Change ◽  
Social Life ◽  
Social Economic ◽  
Rural China ◽  
Sociological Analysis ◽  
Complex Interactions ◽  
Trade Offs ◽  
The Relationship

The phenomenon of "cancer villages" has emerged in many parts of rural China, drawing media attention and becoming a fact of social life. However, the relationship between pollution and disease is often hard to discern. Through sociological analysis of several villages with different social and economic structures, the authors offer a comprehensive, historically grounded analysis of the coexistence between the incidence of cancer, environmental pollution and villagers’ lifestyles, as well as the perceptions, claims and responses of different actors. They situate the appearance of "cancer villages" in the context of social, economic and cultural change in China, tracing the evolution of the issue over two decades, and providing deep insights into the complex interactions and trade-offs between economic growth, environmental change and public health.

Hospital prices and market structure in the hospital and insurance industries

2010 ◽  
Vol 5 (4) ◽  
pp. 459-479 ◽  
Author(s):  
Asako S. Moriya ◽  
William B. Vogt ◽  
Martin Gaynor
Keyword(s):  
Health Care ◽  
Health Care Services ◽  
Market Concentration ◽  
Insurance Market ◽  
Hospital Services ◽  
Hospital Market ◽  
Market Effects ◽  
Transaction Prices ◽  
Care Services ◽  
The Relationship

AbstractThere has been substantial consolidation among health insurers and hospitals, recently, raising questions about the effects of this consolidation on the exercise of market power. We analyze the relationship between insurer and hospital market concentration and the prices of hospital services. We use a national US dataset containing transaction prices for health care services for over 11 million privately insured Americans. Using three years of panel data, we estimate how insurer and hospital market concentration are related to hospital prices, while controlling for unobserved market effects. We find that increases in insurance market concentration are significantly associated with decreases in hospital prices, whereas increases in hospital concentration are non-significantly associated with increases in prices. A hypothetical merger between two of five equally sized insurers is estimated to decrease hospital prices by 6.7%.

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