scholarly journals The art of alternative risk transfer methods of insurance

2015 ◽  
Vol 5 (4) ◽  
pp. 223-232
Author(s):  
Athenia Bongani Sibindi
Keyword(s):  
Cost Effective ◽  
Insurance Companies ◽  
Cyber Terrorism ◽  
Bottom Line ◽  
Global Trends ◽  
Risk Transfer ◽  
Insurance Cover ◽  
Alternative Risk Transfer ◽  
Risk Protection ◽  
Liability Risks

The very basis of insurance is risk assumption. Hence it is the business of insurance to give risk protection. The notion that all ‘risk is risk’ and hence should be treated as such, has become the driving force on the risk landscape. Insurance companies have no room to be selective, as there are competitive threats posed by other financial players who are waiting on the wings to invade the market segment. There has been an emergence of new risks, such as cyber, terrorism as well as liability risks. The insurance cycles have made traditional insurance cover expensive. In this article we sought to interrogate whether Alternative Risk Transfer techniques represent a cost effective way of balancing insurability and the bottom line by analysing global trends. On the basis of the research findings it can be concluded that indeed the ART solutions are a must buy for both corporates and insurance companies, as they result in the organisation using them achieving financial efficiency. The present study also demonstrates that there is a paradigm shift in insurance from that of indemnity to that of value enhancement. Lastly the study reveals that ART solutions are here to stay and are not a fad. Insurance companies cannot afford the luxury of missing any further opportunities, such as happened with Y2K, which proved to be a free lunch

scholarly journals Still living with mortality: the longevity risk transfer market after one decade

2019 ◽  
Vol 24 ◽  
Author(s):  
D. Blake ◽  
A. J. G. Cairns ◽  
K. Dowd ◽  
A. R. Kessler
Keyword(s):  
Capital Markets ◽  
Risk Premium ◽  
Insurance Companies ◽  
Longevity Risk ◽  
Regulatory Capital ◽  
Potential Cost ◽  
Basis Risk ◽  
Risk Transfer ◽  
Stochastic Mortality Models ◽  
Risk Protection

Abstract This paper updates Living with Mortality published in 2006. It describes how the longevity risk transfer market has developed over the intervening period, and, in particular, how insurance-based solutions – buy-outs, buy-ins and longevity insurance – have triumphed over capital markets solutions that were expected to dominate at the time. Some capital markets solutions – longevity-spread bonds, longevity swaps, q-forwards and tail-risk protection – have come to market, but the volume of business has been disappointingly low. The reason for this is that when market participants compare the index-based solutions of the capital markets with the customised solutions of insurance companies in terms of basis risk, credit risk, regulatory capital, collateral and liquidity, the former perform on balance less favourably despite a lower potential cost. We discuss the importance of stochastic mortality models for forecasting future longevity and examine some applications of these models, e.g. determining the longevity risk premium and estimating regulatory capital relief. The longevity risk transfer market is now beginning to recognise that there is insufficient capacity in the insurance and reinsurance industries to deal fully with demand and new solutions for attracting capital markets investors are now being examined – such as longevity-linked securities and reinsurance sidecars.

E-Insurance :A Platform For Insurance Penetration In India

2019 ◽  
Vol 118 (6) ◽  
pp. 90-93
Author(s):  
L. Terina Grazy ◽  
Dr.G. Parimalarani
Keyword(s):  
Insurance Industry ◽  
Cost Effective ◽  
Online Marketing ◽  
Insurance Companies ◽  
The Internet ◽  
Insurance Sector ◽  
The People ◽  
Cost Effective Approach ◽  
Time And Energy ◽  
Work Done

E-commerce is a part of Internet Marketing. The arrival of Internet made the world very simple and dynamic in all the areas. Internet is the growing business as a result most of the people are using it in their day to day life. E-commerce is attractive and efficient way for both buyers and sellesr as it reduce cost, time and energy for the buyer. No surprise the insurance sector has become quite active within the internet sphere. Most insurance companies are offering policies to be brought online and also the portals for paying premiums. It actually saves from hassles involved in going to an insurance office and spend hours to get the insurance work done. Insurance has become an important and crucial aspect of life. Online insurance is the best and most cost effective approach of taking the insurance deal. This paper focused on influence of online marketing on the insurance industry in India, usage of internet in India , the internet penetration in India and the online sale of insurance product by the insurance sector.

Regulatory Issues in Pakistan Telecommunication

1998 ◽  
Vol 37 (4II) ◽  
pp. 873-882 ◽  
Author(s):  
Sarfaraz Khan Quershi
Keyword(s):  
National Economy ◽  
Cost Effective ◽  
Market Forces ◽  
Global Trends ◽  
Regulatory Issues ◽  
Competitive Price ◽  
Modern Services ◽  
A Company ◽  
Telecom Infrastructure

Growth in telecom infrastructure and provision of modern telecom services to consumers at a cost based tariff helps growth of national economy. Modern telecoms serve as the engine of growth of national economy. Following the global trends of liberalisation and deregulation in telecoms monopolies which have thus far been providing inefficient communication at a greedily high tariffs are falling apart. Mergers in telecoms are not for increasing the size of the monopoly but to provide more efficient and cost effective services to the consumers. In Pakistan the erstwhile T&T department played a needful role at its time. Conversion of the department into a corporation and then into a company were steps necessary for following the global trends. Need now is to continue this trend further, eliminate the monopolistic approach by allowing more players in the field thus permitting the market forces to decide the provision of better quality of modern services at competitive price.

scholarly journals Assessment of costs and insurance policies for referral treatment of equine colic

2019 ◽  
Vol 185 (16) ◽  
pp. 508-508 ◽  
Author(s):  
Isobel Barker ◽  
Sarah L Freeman
Keyword(s):  
Surgical Treatment ◽  
Insurance Companies ◽  
Insurance Policies ◽  
Insurance Cover ◽  
Survey Costs ◽  
The Mean ◽  
High Degree ◽  
Mean Cost ◽  
Monthly Premium ◽  
Equine Colic

Colic is the most common emergency problem in horses. The aims of this study were to survey costs of different referral treatments and to review insurance policies relevant to horses with colic. Data were collected retrospectively from nine equine hospitals for case costs, categorised into four different outcomes: admitted and euthanased; euthanased during or immediately after surgery; medical treatment and survived more than 24 hours; and surgical treatment and survived more than 24 hours. Data from five UK equine insurance companies were extracted and analysed using a standardised case example. Costs were obtained for 108 cases. The mean cost for horses admitted and euthanased was £873.89 (range £459.72–£1471.51), and for surgical treatment and survival more than 24 hours was £6437.80 (range £3178.87–£9100.00). Insurance cover for veterinary fees ranged from £5000 to £7500, and monthly premium rates for a standardised case ranged from £27.06 to £47.06. The terms and conditions for the insurance policies ranged in length from 2098 to 17,701 words; Flesch Kincaid Reading Ease scores ranged from 21.6 to 57.7, indicating a high degree of complexity and low readability. This study highlights the complexity and challenges for decision-making in critical cases of colic.

scholarly journals AN EXPLORATORY RESEARCH STUDY OF MARKETING STRATEGIES OF IDBI FEDERAL INSURANCE CO. LTD

2021 ◽  
pp. 478-483
Author(s):  
Himanshi Goyal ◽  
Dr. Navneet Joshi ◽  
Sanjive Saxena
Keyword(s):  
Life Insurance ◽  
Coming Out ◽  
Research Study ◽  
Research Work ◽  
Marketing Strategies ◽  
Insurance Companies ◽  
Primary Data ◽  
Exploratory Research ◽  
Insurance Company ◽  
Insurance Cover

This paper is covers the exploratory research study on the marketing strategies of IDBI Federal Insurance, Company. In the Indian context, Insurance companies are playing a major role in the development of Indian economy. With the entry of many private players in the insurance industry, the competition has risen manifold and hence insurance companies are coming out with innovative marketing strategies to woo the customer. This was the reason for narrowing down the scope of the research work. The present paper is an exploratory research study on the marketing strategy of IDBI Federal Insurance Company. The paper seeks to address the following objectives (a) To determine the marketing strategies of IDBI Federal Life Insurance Co. Ltd (b) To determine the means and mechanism deployed by IDBI Federal Life Insurance Co. Ltd. Applying the marketing mix and to determine the effectiveness of the strategy and (c) to understand the reasons which provide competitive advantage to IDBI Federal Life Insurance Co. Ltd. The paper is developed on the basis of elementary primary and secondary data available in the Internet and other documents and journals. The design of the paper follows a structured approach. The literature review resulted in the generation of the research objectives. The primary data was collected by means of Google Forms and MS Excel was used for data analysis. Descriptive Statistics is used to arrive at the findings and interpretation. The findings indicate that the majority of the people seek insurance cover for the purpose of having risk cover and availing several benefits associated with the life insurance policies. Further, the findings indicate that there is a need to capitalize social media platform for generating awareness to drive the market growth. KEY WORDS: IDBI, Insurance, Marketing, Policies, Strategies

scholarly journals Thriving in a changing world – opportunities and challenges for private health insurance companies

2018 ◽  
Vol 1 (2018/1) ◽  
Keyword(s):  
Health Insurance ◽  
Private Health Insurance ◽  
Health Impact ◽  
Insurance Market ◽  
Insurance Companies ◽  
Full Potential ◽  
Global Trends ◽  
Health Insurance Companies ◽  
Health Insurance Market

The health insurance market in Poland reflects global trends – such as the rising awareness of personal health impact on quality of life. As a consequence, the health insurance market has seen substantial growth during the last years, which is forecasted to continue at over 20 percent more than life or P&C insurance globally. However, private health insurance has not yet unlocked its full potential.

The Impact of MCAST Apprentices on Insurance Companies Operating in Malta - A Manager’s Perspective

2021 ◽  
Vol 5 (1) ◽  
pp. 127-153
Author(s):  
Joseph Schembri
Keyword(s):  
High Performance ◽  
Insurance Industry ◽  
Learning Experience ◽  
Cost Effective ◽  
Research Problem ◽  
Insurance Companies ◽  
Skilled Workers ◽  
Structured Interviews ◽  
Insurance Firms ◽  
The Impact

This study probes the MCAST insurance apprenticeship scheme and the impact of apprentices on the local insurance companies, acting as sponsors. This study is of particular relevance since the local insurance firms are experiencing growth but have the challenge of employee turnover and skills shortage. This research study investigates the work-based learning experience of students, the mentoring of apprentices and the supervising procedures adopted by MCAST and the insurance firms. The purpose is to analyse the impact of MCAST trainees on local insurance firms and depict practical recommendations to ameliorate the learning experience of the apprentices. The recommendations emanating from this study, assist MCAST to develop high-performance apprenticeship schemes and assist the local insurance industry, in the recruiting and training of young employees. This qualitative research gathers data through nine in-depth, semi-structured interviews and adopts the Grounded Theory Methodology to address the research problem and attain the stated objectives. The researcher adopts the constructivist approach incorporating an inductive and abductive stance. The findings emanating from the data illustrate the need to promote the insurance industry as a provider of stable and fulfilling careers with the possibility of job mobility. MCAST and the insurance firms need to enhance their collaboration to promote the insurance apprenticeship, among young learners, even at secondary level. An overhaul of the mentoring and supervising approach is needed to provide a work-based learning experience of excellence to MCAST apprentices. MCAST apprenticeship is considered by the insurance executives as the best training opportunity to recruit skilled workers and create networks. The scheme is cost effective to the firms and is considered as a long-term investment in human resources. A well-planned strategy to enhance collaboration and share knowledge between the leading VET provider of the Maltese Islands and the insurance industry is required for the benefit of the apprentices who are the future employees of the local insurance firms.

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