The Long Term Crisis in Life Insurance

1966 ◽  
Vol 33 (4) ◽  
pp. 621
Author(s):  
Richard N. Farmer
Keyword(s):  
Life Insurance

STATE REGULATION OF THE FINANCIAL SERVICES MARKET IN UKRAINE

2018 ◽  
Vol 1 (11) ◽  
pp. 30-47
Author(s):  
Lyudmila Nikolayevna Akimova ◽  
Alla Vasilievna Lysachok
Keyword(s):  
Life Insurance ◽  
Financial Services ◽  
Credit Unions ◽  
State Regulation ◽  
The State ◽  
Existing Problems ◽  
Insurance Contracts ◽  
State Pension

The essence of such concepts is “financial service”, “financial ser- vices market”, and “participants of the financial services market”; determined the purpose of state regulation of the financial services market; forms of state regu- lation of the financial services market; financial services that are present in the financial services market; the structure of state regulation bodies of the financial services market in Ukraine is given; The role of state bodies in the regulation of the financial services market was studied; to characterize the regulatory le- gal regulation of the financial services market in Ukraine; the main problems of functioning of the domestic market of financial services are revealed; ways to solve existing problems. It is grounded that the state regulation of financial ser- vices markets consists in the state’s implementation of a set of measures aimed at regulating and overseeing financial services markets to protect the interests of financial services consumers and preventing crisis phenomena. It is concluded that the financial services market is an important element of the development of the economy as a whole, in particular, it concerns not only the state but also society. We must understand that when this market is settled, that is, all bodies that carry out state regulation are competent in their powers, only then will we make informed, effective decisions about the normal and effective functioning of the RFP. It is important that the data of the subjects of control do not overlap, their activities should be fixed at the legislative level. It is also worth bearing in mind that appropriate conditions must be created to create compensatory mecha- nisms in the financial services markets by developing a system for guarante- eing deposits and providing for payments under long-term life insurance contracts, non-state pension provisions, deposits with deposit accounts to credit unions, etс.

A Note on the Asset-Specific Nature of Life Insurance Firms

1997 ◽  
Vol 8 (3) ◽  
pp. 167-176
Author(s):  
Mike Adams
Keyword(s):  
Life Insurance ◽  
Transaction Cost Economics ◽  
Insurance Industry ◽  
Asset Specificity ◽  
Specific Nature ◽  
Life Insurance Industry ◽  
Long Duration ◽  
Insurance Firms ◽  
Physical Assets

The concept of asset specificity is an important feature of the transaction-cost economics literature. This literature predicts that asset specificity – which embraces physical assets, specialist human capital and intangibles such as brands – fosters greater certainty in complicated transactions of long duration. The business of life insurance is a classical example of complex and long-term exchange between the owners and managers of the firm and its customers. This note thus examines the concept of asset specificity and considers its relevance to the life insurance industry. To stimulate further research four hypotheses are put forward.

The Long Term Crisis in Life Insurance: Author's Reply

1968 ◽  
Vol 35 (1) ◽  
pp. 152
Author(s):  
Richard N. Farmer
Keyword(s):  
Life Insurance

The Long Term Crisis in Life Insurance: Comment

1968 ◽  
Vol 35 (1) ◽  
pp. 147 ◽  
Author(s):  
J. D. Hammond ◽  
E. R. Melander
Keyword(s):  
Life Insurance

scholarly journals Marketing Channels and Underwriting Service Quality of Life Insurance

2016 ◽  
Vol 1 (No. 1 Oct 2016) ◽  
pp. 9-24
Author(s):  
Chen Tsai-Jyh
Keyword(s):  
Service Quality ◽  
Empirical Result ◽  
Life Insurance ◽  
Positive Impact ◽  
Marketing Channels ◽  
Competitive Advantages ◽  
Competitive Strategies ◽  
Cost Efficient

This paper investigates the relationship between marketing channels and underwriting service quality with focus on two major channels: salesperson and bancassurance. Based on the data of life insurance in Taiwan, the empirical analysis shows that the traditional salesperson channel has competitive advantages in underwriting service quality. This result supports the coexistence of salesperson and bancassurance because previous literature indicated bancassurance more cost-efficient than a salesperson. The empirical result shows that insurers with more dependence on salesperson channel present lower complaint ratio and higher contract persistency due to better service quality. The empirical result also indicates that service quality has a significantly positive impact on insurer’s reputation. This finding implies that the insurers with more dependence on bancassurance should take additional competitive strategies to maintain the long-term customer relation.

Assessing the Technical Efficiency of Traditional and Corporate Agents in Indian Life Insurance Industry: Slack-based Data Envelopment Analysis Approach

2018 ◽  
Vol 21 (2) ◽  
pp. 490-506 ◽  
Author(s):  
Ankitha Shetty ◽  
Savitha Basri
Keyword(s):  
Data Envelopment Analysis ◽  
Technical Efficiency ◽  
Life Insurance ◽  
Insurance Industry ◽  
Distribution Channels ◽  
Insurance Companies ◽  
Data Envelopment ◽  
Life Insurance Industry ◽  
Significant Difference

The distribution channels play an imperative role in the life insurance industry. In India, traditional and corporate agency are contributing immensely to the profitability of the insurance companies. The challenges faced by the distributional channels such as high attrition, soaring expense ratio and sales inefficiency have created the need to probe into the efficiency aspects of the channel players. In the absence of such studies in India, this article evaluates the technical efficiency of distribution channels in life insurance industry by analysing the data collected from 12 insurance companies for the period 2012 to 2016. The efficiency scores were obtained by applying data envelopment analysis that considered two inputs (number of agents and commission expenses) and two outputs (average business premium and total policies sold). The findings reveal no significant difference in the efficiency scores of bancassurance and traditional agents. Quiet life hypothesis that market share (ratio of premium contribution to total premium) of distributional channels and their efficiency scores are negatively correlated is not supported. Moreover, the slack analysis shows excess inputs per output generated for both the channels. If the companies that scored low in efficiency do not plug the leakages regarding commission as well a number of agents, adverse performance in the long-term and consequent financial crisis are inevitable.

Estimating China’s Future Life Insurance Market

2020 ◽  
Vol 0 (0) ◽  
Author(s):  
Jiyue Ma ◽  
Fei Huang ◽  
Aaron Bruhn
Keyword(s):  
Capital Markets ◽  
Life Insurance ◽  
Insurance Industry ◽  
Insurance Market ◽  
Economic Expansion ◽  
Life Insurance Industry ◽  
Specific Factors ◽  
Important Indication

AbstractAfter decades of economic expansion, China is transitioning to meet the insurance needs of its aging and increasingly affluent population. Of particular interest to insurers and reinsurers is China’s life insurance industry, which is likely to be globally significant due to its size and scale of opportunity. The long term nature of life insurance will also see it play a key role in China’s financial and capital markets. By uniquely accounting for demographic, economic and insurance-specific factors, we estimate the long term size of China’s life insurance market, giving an important indication of the scale of its future influence.

Sign in / Sign up

Export Citation Format

Share Document