scholarly journals Conceptual Frameworks of the Development of Banking and Insurance Interaction in Modern Conditions

2021 ◽  
Vol 6 (1) ◽  
pp. 14-20
Author(s):  
Olena Bazilinska ◽  
Olena Panchenko
Keyword(s):  
Developed Countries ◽  
Insurance Companies ◽  
Conceptual Frameworks ◽  
Cooperation Agreement ◽  
Financial Conglomerates ◽  
Advantages And Disadvantages ◽  
Banking Institutions ◽  
Regulatory Bodies ◽  
Effective Use ◽  
Further Development

The purpose of the article is to reveal conceptual frameworks for further development of the banking and insurance interaction in order to ensure the growth of the value of banking and insurance business on account of the more effective use of their potentials and opportunities.It is noted in the article that banking and insurance interaction is manifested as the provision of insurance services through banking institutions – Banсassurance, the provision of banking services through insurance companies – Assurbanking, the provision of integrated services within financial conglomerates – Allfinanz.In the course of the research, it was determined that the banking channel for the sale of insurance services is the most efficient, and Bancassurance is a system of insurance services sale through the extensive banking network. The necessity and importance of the Bancassurance development, which is actively used in all developed countries, but differs in scale, methods, organizational forms and final financial results, is revealed. This is especially relevant in the context of reforming the regulatory bodies of the state financial market.Within the study, the advantages and disadvantages of Bancassurance and the prerequisites for its development are revealed. Particular attention is paid to the requirements to insurance companies in the process of the Bancassurance implementation. It is noted within the article that the interaction of banks and insurance companies can be carried out at different levels, from the level of the cooperation agreement, agency agreement, banking and insurance cooperation, to the level of the corporate control through the mechanism of mergers and acquisitions and financial supermarket.Within the study the conclusions are made that further development of banking and insurance interaction is conceptually aimed at increasing the role of commercial banks and the formation of “financial supermarkets”, in which each customer can meet the needs of bank services, financial consulting, and insurance. JEL classіfіcatіon: G21, G22

scholarly journals BUNDLING PRODUCT AS A COOPERATION AGREEMENT BETWEEN BANKS AND INSURANCE COMPANIES (BANCASURRANCE) IN RELATIONS WITH UNHEALTHY BUSINESS COMPETITION

2019 ◽  
Vol 3 (2) ◽  
pp. 70
Author(s):  
Rani Sri Agustina
Keyword(s):  
Insurance Companies ◽  
Marketing Activity ◽  
Cooperation Agreement ◽  
Product Integration ◽  
Banking Institutions

Banking institutions and insurance companies are two different finance institutions, both in terms of the type of business and in terms of the principles. The two of them undergo a cooperation (bancasurrance) through referential activities, distribution, and product integration. The cooperation activity of marketing integrated products is carried out by banks by offering and selling bundled products. Bundling is a marketing activity which is allowed, yet its implementation is almost the same as tying agreement, which is one of the prohibited agreements as it may lead to unhealthy business competition.

scholarly journals Necessity of restructuring insurance companies of Serbia

2004 ◽  
Vol 47 (1-2) ◽  
pp. 77-98 ◽  
Author(s):  
Sinisa Ostojic
Keyword(s):  
Political Parties ◽  
Central And Eastern Europe ◽  
Specific Problem ◽  
Developed Countries ◽  
Insurance Companies ◽  
The Political ◽  
Court Cases ◽  
Political Interests ◽  
Banking Institutions ◽  
National Bank

This item deals with a specific problem in the area of insurance market and insurance companies of Serbia, insurance is an important industry in developed countries and it becoming also important in the Central and Eastern Europe. Most people in these countries hold one of more types of insurance policies and the annual revenues of insurance companies exceed billion dollars and insurance companies are also a major employer. Although in Serbia insurance companies were not functioning as self solid (self basedc non-banking institutions, but they had been the instrument of the mobilization for the political parties during the pretransitional period of the savings throughout the obligatory forms of the insurance in political interests. The trust of the citizens of Serbia has been lost, as for bad experiences insurance money as well as for several years long court cases and gathered loses. Five years later the reform of the insurance companies started under the control of the National bank of Serbia. This task deals with the necessity of reforming the insurance companies in further to achieve their important in financial transaction.

scholarly journals DIRECTIONS FOR IMPROVING THE INSURANCE MARKET REGULATION

2019 ◽  
Vol 2019 (7-8) ◽  
pp. 55-70
Author(s):  
Olga KLYMENKO ◽  
Keyword(s):  
Financial Services ◽  
Developed Countries ◽  
Legal Framework ◽  
The State ◽  
Insurance Market ◽  
Insurance Companies ◽  
Main Task ◽  
Market Regulation ◽  
Positive Direction ◽  
Further Development

The current state of the non-bank financial services markets is analyzed using the insurance market as an example. Features and directions of its development are revealed. The author considers the functioning of insurance companies in Ukraine’s market and insurance performance indicators for 2018 and early 2019. Based on the analysis, the problems of the insurance market activity that hinder its development are identified. Ukraine’s insurance market is gradually moving in a positive direction and has considerable potential for further development; however, it is still significantly inferior to similar markets in democratically and economically developed countries. The role of the insurance market in the socio-economic development of regions is researched. It is shown that the stability of functioning of the insurance services market directly depends on the state of Ukraine’s economy, GDP, and average wage and pension. The main factor limiting the rapid growth of this market is the low solvent demand of the population for insurance services. The specifics of the insurance market (along with consideration of this sector of non-banking financial services across the country), also requires detailing the nuances of the activities of entities operating in the regions of Ukraine.In order to increase the protection of consumers of insurance services, the state regulators need to take further measures to free the market from troubled, insolvent, and unscrupulous insurance companies, as well as to establish an economically justified level of remuneration for intermediaries and regulate their activity. The main task to develop the institutions of non-bank financial services, in particular, the insurance market, is to increase Ukrainian citizens’ trust in them, and to integrate the legal framework in this field into the European legislative system. It is shown that the main goals and objectives of further development of these markets in Ukraine are to increase their transparency, capitalization, and liquidity. The relevance of the assessment of the concentration of Ukraine’s insurance market and the concentration indicators are considered. The author analyses the relationship between the concentration of the market and the number of insurance companies on it. In order to improve the depth and reliability of the assessment of the concentration on Ukraine’s insurance market, it is proposed to introduce correcting coefficients to the limiting values of the Herfindahl-Hirschman index.

scholarly journals Bancassurance as a form of effective cooperation between banks and insurance companies

2020 ◽  
Vol 11 (2) ◽  
pp. 58-65
Author(s):  
R. Mamchur ◽  
◽  
О. Nazarenko ◽  
Keyword(s):  
Financial Market ◽  
Financial Services ◽  
Swot Analysis ◽  
Banking System ◽  
Insurance Market ◽  
Insurance Companies ◽  
Settlement Services ◽  
Banking Institutions ◽  
Number Of Customers ◽  
Further Development

At the present stage of financial market development, the needs of individual clients are constantly growing. Competition in the market of traditional services between banks, as well as between banks and non-banking institutions is intensifying. With this in mind, banks must constantly work to diversify their sources of income, develop new services for the banking system; as a result, there are products of cooperation such as bancassurance. However, the level of their development is quite low, which requires appropriate research and generalization of their results in order to develop appropriate recommendations to improve the efficiency and further development of this type of cooperation. The leader in the provision of parabanking services in Ukraine is the insurance market, but its level of development is much lower than in foreign countries. The combination of banking and insurance services is one way to maintain and even increase the number of customers and assets. The interaction of banks and insurance companies can take various forms, including bank insurance and the provision of banking services to insurance companies – placement of funds, settlement services and others. The article examines the emergence of the concept of bancassurance, as a relatively new type of interaction between banks and insurance companies. The formation of such cooperation in Ukraine took place during three main stages. The main advantages of bancassurance singled out separately for insurance companies, for banks and for the clients themselves – consumers of financial services. An analysis made in terms of five banks in the Ukrainian financial market, and the most relevant insurance products they offer and with which companies work closely selected. The study found that in the insurance market of Ukraine, the dynamics of net insurance premiums and payments tends to increase. Insurance companies through the sale of services in banking institutions receive about a third of income. For the purpose of generalization, a SWOT analysis of bancassurance presented, with a clear identification of advantages, disadvantages and opportunities for further development in the Ukrainian financial market. It is determined that bancassurance has many advantages and potential opportunities for further improvement and expansion within Ukraine, while the shortcomings and threats are based on the existing shortcomings of the domestic financial market.

ANALYSIS OF APPLICATION OF BLOCKCHAIN TECHNOLOGIES FOR THE BANKING SECTOR

2017 ◽  
Author(s):  
Svitlana Ilkovych ◽  
◽  
Maryna Korol ◽  
Keyword(s):  
Banking Sector ◽  
Blockchain Technology ◽  
Current State ◽  
Global Banking ◽  
Banking Institutions ◽  
Pros And Cons ◽  
Further Development

The article considers the essence of blockchain technology and the possibility of its application in the banking sector. The current state of development and application of blockchain technologies in various industries is analyzed. The pros and cons of using blockchain technologies for the banking sector are identified. Emphasis is placed on the role of blockchain technologies in the further development of the banking sector. The most promising directions of development of this technology are considered. Particular attention is paid to examples of the use of blockchain technology by global banking institutions.

scholarly journals Available options for doing more with less: laboraory automation as one tool in the arsenal

1998 ◽  
Vol 20 (3) ◽  
pp. 87-89
Author(s):  
Stephen Scypinski ◽  
John Baiano ◽  
Theodore Sadlowski
Keyword(s):  
Laboratory Automation ◽  
Drug Discovery Process ◽  
Contract Research Organization ◽  
Advantages And Disadvantages ◽  
Line Extensions ◽  
Use Of Resources ◽  
Analytical Development ◽  
Effective Use ◽  
Case Basis

Projects that require analytical support can evolve from a number of different situations, for example new molecular entities from drug discovery; process changes; packaging changes; site changes; line extensions; and inlicensed projects and compounds. Laboratory automation has been shown to provide a viable and practical solution to assisting in analytical development. However, it is not always the most logical answer. A truly flexible and responsive analytical unit will make a decision on a case-by-case basis, when faced with a new project, whether it is best to: automate some or all aspects/testing involved; contract out to a reputable and approved contract research organization (CRO); hire temporary help; use available in-house resources; use a combination of the options shown above (for example to evaluate the complexity of the new project versus what the in-house resources are currently working on). The paper discusses the advantages and disadvantages of the various options with respect to providing analytical support and suggests optionsfor the most effective use of resources. The role of automation as one of the important tools in the arsenal of these options is highlighted.

Loss reserve variability and loss reserve errors

2014 ◽  
Vol 15 (3) ◽  
pp. 248-263 ◽  
Author(s):  
Enoch Nii Boi Quaye ◽  
Charles Andoh ◽  
Anthony Q.Q. Aboagye
Keyword(s):  
Insurance Companies ◽  
Content Type ◽  
Main Research ◽  
Loss Reserve ◽  
Smooth Flow ◽  
Regulatory Standards ◽  
Sources Of Variation ◽  
Regulatory Bodies ◽  
Property And Liability Insurance ◽  
Industry Trends

Purpose – The purpose of this study is to assess the level and variability of Ghanaian property and liability insurer’s reserve estimates to examine its sources and ascertain if reserve errors are random or not (i.e. manipulated or not). Design/methodology/approach – It uses information on insurer claim reserve provisions, claims outstanding, claims incurred and claims paid for the period of 2000-2010. Categorizing the sources of variation as endogenous and exogenous, the authors use the panel correlated standard error regression model to determine sources and magnitude of industry reserve error. Findings – The study finds that size, age, lag of loss reserve error, inflation rate and real gross domestic product are significant in determining the degree of reserve error variation. Type of ownership (domestic or foreign) is, however, not a significant source of variation. Further, the authors found that industry reserve errors are random (not manipulated) across firms, suggesting that sampled insurers act independently on reserve error decision making and are not influenced by industry trends and competition. Research limitations/implications – The main research study limitation is the difficulty involved in obtaining annual statements from insurance companies in Ghana. Reluctance of companies to make statements available impeded on the smooth flow of the study during data collection. Practical implications – Policy-wise, this suggest that regulatory bodies can uniquely set reserve error levels for existing firms with little influence on competition. Further, the Ghanaian insurance regulator does not to focus on the type of ownership (foreign or local) when setting regulatory standards. However, size of the company and age (length of operation) should be considered. Originality/value – This paper is the first empirical study to examine the loss reserve error and loss reserve variability of Ghanaian property and liability insurance companies.

MARKET POSSIBILITIES FOR THE DEVELOPMENT OF AGROTOURISM IN ISTRIA

1999 ◽  
Vol 5 (1-2) ◽  
pp. 23-38
Author(s):  
Desimir Bošković
Keyword(s):  
Developed Countries ◽  
Basic Question ◽  
Legal Regulations ◽  
Mass Tourism ◽  
The Past ◽  
Marketing Activities ◽  
Market Trends ◽  
The Developed Countries ◽  
Further Development

The basic question for further development of our tourism is a how, what with and when to restructure the mass tourist supply and make it flexible to market trends and demands. In the developed countries, the transformation of mass tourism to various selective forms and kinds of tourism is under way and very successful. The development of agritourism, which this paper is about, could significantly alleviate the past discrepancies in tourist supply and change the structure of the whole supply. On basic of the research done, the authors claim that some basic conditions for the development of agritourism in Istria have been fulfilled. So ther suggests its concept of development, financial funds needed, ways of financing, stimulative and other measures, legal regulations needed, organization of marketing activities, effects of the development etc.

scholarly journals The nursing shortage: a worldwide problem

2002 ◽  
Vol 10 (3) ◽  
pp. 392-400 ◽  
Author(s):  
Rachel Z. Booth
Keyword(s):  
Health Care ◽  
Work Environment ◽  
Health Care System ◽  
Health Care Systems ◽  
Developed Countries ◽  
World Health ◽  
Insurance Companies ◽  
Advisory Group ◽  
Positive Effects ◽  
Care System

A worldwide shortage of nurses has been acknowledged by the multidisciplinary Global Advisory Group of the World Health Organization. The shortage is caused by an increased demand for nurses, while fewer people are choosing nursing as a profession and the current nurses worldwide are aging. The shortage applies to nurses in practice as well as the nurse faculty who teach students. The inter-country recruitment and migration of nurses from developing countries to developed countries exacerbates the problem. Although public opinion polls identifies the nurse as the person who makes the health care system work for them, the conditions of the work environment in which the nurse functions is unsatisfactory and must change. Numerous studies have shown the positive effects on the nurse of a healthy work environment and the positive relationships between nursing care and patient outcomes. It is important that government officials, insurance companies, and administrators and leaders of health care systems acknowledge and operationalize the value of nurses to the health care system in order to establish and maintain the integrity and viability of that system.

scholarly journals From Mosquito Bites to Sexual Transmission: Evaluating Mouse Models of Zika Virus Infection

Viruses ◽  
2021 ◽  
Vol 13 (11) ◽  
pp. 2244
Author(s):  
Elizabeth Balint ◽  
Amelia Montemarano ◽  
Emily Feng ◽  
Ali A. Ashkar
Keyword(s):  
Mouse Models ◽  
Zika Virus ◽  
Reproductive Tract ◽  
Sexual Transmission ◽  
Zikv Infection ◽  
Sexually Transmitted ◽  
Advantages And Disadvantages ◽  
Effective Use ◽  
The Impact ◽  
Male To Female

Following the recent outbreak of Zika virus (ZIKV) infections in Latin America, ZIKV has emerged as a global health threat due to its ability to induce neurological disease in both adults and the developing fetus. ZIKV is largely mosquito-borne and is now endemic in many parts of Africa, Asia, and South America. However, several reports have demonstrated persistent ZIKV infection of the male reproductive tract and evidence of male-to-female sexual transmission of ZIKV. Sexual transmission may broaden the reach of ZIKV infections beyond its current geographical limits, presenting a significant threat worldwide. Several mouse models of ZIKV infection have been developed to investigate ZIKV pathogenesis and develop effective vaccines and therapeutics. However, the majority of these models focus on mosquito-borne infection, while few have considered the impact of sexual transmission on immunity and pathogenesis. This review will examine the advantages and disadvantages of current models of mosquito-borne and sexually transmitted ZIKV and provide recommendations for the effective use of ZIKV mouse models.

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