scholarly journals – (Requirements for activating the investment in the Iraqi insurance company- Applied Study for the Period (2004- 2015: متطلبات تفعيل الاستثمار في شركة التأمين العراقية - دراسة تطبيقية للمدة (2004- 2015) –

2019 ◽  
Vol 3 (7) ◽  
Author(s):  
Zeinab Shallal Akkar ◽  
Wafa Ali Sultan
Keyword(s):  
Financial Services ◽  
Economic Life ◽  
Insurance Companies ◽  
Insurance Company ◽  
Economic Activities ◽  
Insurance Sector ◽  
Applied Study ◽  
The World ◽  
Investment Function

The insurance sector is one of the most important sectors of the financial services in the world، and it keeps pace with all other economic activities and contributes to its support، development and stability. This study aims to review the investment in insurance companies and the revenues obtained from it، where insurance companies collect large amounts of premiums that enter and then invest in various areas in economic life، and in order to achieve appropriate returns to cover their obligations towards the policyholders and payment of compensation، Factors necessary for successful investment function in insurance companies.

scholarly journals The Effect of Stimulus Policies and Risk-Based Capital Levels on Solvency at PT. Indonesian Takaful using Sharia Principles during the Majeur Force Period (Covid-19 Pandemic) in Indonesia

2021 ◽  
Vol 2 (1) ◽  
pp. 24-31
Author(s):  
Nano Suyatna
Keyword(s):  
Financial Services ◽  
Positive Influence ◽  
Insurance Companies ◽  
Insurance Company ◽  
Insurance Sector ◽  
Islamic Principle ◽  
The Government ◽  
Company Sector ◽  
Descriptive Method ◽  
Level Of Risk

The Covid -19 pandemic is a massive disaster, impacting various sectors of the economy including the Islamic principle insurance sector. The government through the Financial Services Authority (OJK) in dealing with these problems has issued a stimulus policy so that the Islamic principle insurance sector is still able to maintain the level of solvency and risk based capital is maintained. The purpose of this study is to determine the influence of the Stimulus Policy and the level of Risk Based Capital on the level of solvency of sharia-based insurance companies during the Covid-19 Pandemic. The method used is descriptive method with a simple statistical approach. The results show: 1. There is a positive influence of the Stimulus Policy on the Solvency Level of the Islamic principle insurance company sector, 2. There is a positive influence on the Level of Risk Based Capital on the Solvency Level of the Islamic Principle Insurance Company sector, 3. There is an influence of the Stimulus Policy and Level of Risk Based Capital on Simultaneous level of solvency in Islamic principle insurance companies. From the research results, it can be concluded that the Stimulus Policy and Risk Based Capital Level that has been set by the regulator is right on target.

scholarly journals PERAN OTORITAS JASA KEUANGAN DALAM MELINDUNGI PEMEGANG POLIS ASURANSI AKIBAT PAILITNYA PERUSAHAAN ASURANSI (Studi Putusan Mahkamah Agung Nomor 408 K/Pdt.Sus-Pailit/2015)Abstract

2020 ◽  
Vol 19 (2) ◽  
pp. 292-328
Author(s):  
Muhammad Ridho
Keyword(s):  
Financial Services ◽  
Service Sector ◽  
Insurance Industry ◽  
Legal Protection ◽  
Insurance Companies ◽  
Public Confidence ◽  
Bankruptcy Law ◽  
Insurance Company ◽  
Insurance Policy ◽  
Insurance Sector

AbstractThe Financial Services Authority as an institution that oversees activities in the insurance sector functions to create a financial system that grows in a sustainable and stable manner and can foster public confidence in the insurance industry. Within the scope of supervision in the insurance sector, the Financial Services Authority has the authority to submit bankrupt statements to insurance companies in order to protect the interests of insurance policy holders.The purpose of the research in this thesis is to analyze the authority of the Financial Services Authority in the insolvency of insurance companies, to analyze the legal protection of customers who are harmed by the insolvency statement of insurance company to analyze the legal considerations of judges in the Supreme Court’s Decision No. 408 K/ Pdt. Sus-Pailit /2015.The research method used is descriptive analysis that leads to normative juridical research that is research conducted by referring to legal norms that is examining library materials or secondary materials, and secondary data by processing data from primary legal materials, secondary legal materials and tertiary legal materials.The results showed that the Authority of the Financial Services Authority in the insolvency of insurance companies is based on the Bankruptcy Law and Suspension of Debt Payment Obligation (‘UU KKPU’) and Financial Services Authority Act (‘UU OJK’) with its implementation arrangement and the Financial Services Authority’s position as the party submitting an application for bankruptcy statements through the Board of Commissioner of Financial Services Authority. Protection provided to insurance policy holders in the case of bankruptcythat is guaranteed the position of policy holder in the event ofbankruptcy to the insurance company.Judge’s legal consideration in the decision of the Supreme Court Number 408 K/ Pdt. Sus-Pailit /2015 so as to decide on PT. AsuransiJiwaBumiAsih Jaya declared bankrupt is the OJK as a financial service sector supervisory agency authorized to submit bankruptcy requests for insurance companies because PT AsuransiJiwaBumiAsih Jaya is proven to have debt in the form of payment of the policy holder’s claim liability.Key-Words: Role of OJK, Insurance Policy, Bankruptcy.

scholarly journals USE OF INNOVATIVE TECHNOLOGIES BY INSURANCE MARKET ENTITIES. TELEMATICS IN CAR INSURANCE

2020 ◽  
Vol 1 (2) ◽  
pp. 7-11
Author(s):  
Liliya Ignatovich
Keyword(s):  
Financial Services ◽  
Insurance Market ◽  
Insurance Companies ◽  
Innovation Activity ◽  
Insurance Company ◽  
Innovative Technologies ◽  
Social Trends ◽  
The World ◽  
Promising Area ◽  
Car Insurance

The purpose of the article is to substantiate the need for the use of innovative technologies by participants in the insurance market, namely, telematics in car insurance. The current state of the financial services market requires insurers to raise standards of work through the introduction of innovative products. It is determined that increasing the competitiveness of an insurance company should focus on providing the best personal services and meet the requirements of modernity and modern social trends, and therefore, make full use of the Internet: marketing and innovation. In view of this, the key task of the insurer’s innovation activity is the maximum approximation of insurance services to the existing needs of the insured in insurance protection. It is possible to reach stable demand for this or that insurance service under the conditions of application of the world innovative insurance programs providing balance of qualitative and quantitative parameters of the insurance contract only. The relevance of the topic is that the Ukrainian insurance companies are forced to look for new opportunities to meet the needs of their customers in order to maintain competitive advantages and work effectively in the conditions of innovative development of insurance activity in the world. A promising area of further research is to assess the readiness of insurance market participants to use innovative insurance services. Methodology. The essence of telematics in car insurance is investigated. The state of the CASCO insurance market in Ukraine is analyzed. The main advantages of telematics use by the subjects of the insurance market of Ukraine are determined. Practical implications. It is proved that the introduction of innovative technologies opens new opportunities for the growth of additional premiums, improving the quality of service and minimizing insurance risks. Theoretical provisions on the need for ways to improve the innovative activities of the insurer have been further developed.

Indian Life Insurance Market and Corporate Performances: A Study of Selected Firms

2016 ◽  
Vol 4 (1) ◽  
Author(s):  
Joy Chakraborty ◽  
Partha Pratim Sengupta
Keyword(s):  
Market Share ◽  
Life Insurance ◽  
Market Concentration ◽  
Insurance Market ◽  
Insurance Companies ◽  
Insurance Company ◽  
Life Insurance Company ◽  
Insurance Sector ◽  
Life Insurers ◽  
Company Limited

In the pre-reform era, Life Insurance Corporation of India (LICI) dominated the Indian life insurance market with a market share close to 100 percent. But the situation drastically changed since the enactment of the IRDA Act in 1999. At the end of the FY 2012-13, the market share of LICI stood at around 73 percent with the number of players having risen to 24 in the countrys life insurance sector. One of the reasons for such a decline in the market share of LICI during the post-reform period could be attributed to the increasing competition prevailing in the countrys life insurance sector. At the same time, the liberalization of the life insurance sector for private participation has eventually raised issues about ensuring sound financial performance and solvency of the life insurance companies besides protection of the interest of policyholders. The present study is an attempt to evaluate and compare the financial performances, solvency, and the market concentration of the four leading life insurers in India namely the Life Insurance Corporation of India (LICI), ICICI Prudential Life Insurance Company Limited (ICICI PruLife), HDFC Standard Life Insurance Company Limited (HDFC Standard), and SBI Life Insurance Company Limited (SBI Life), over a span of five successive FYs 2008-09 to 2012-13. In this regard, the CARAMELS model has been used to evaluate the performances of the selected life insurers, based on the Financial Soundness Indicators (FSIs) as published by IMF. In addition to this, the Solvency and the Market Concentration Analyses were also presented for the selected life insurers for the given period. The present study revealed the preexisting dominance of LICI even after 15 years since the privatization of the countrys life insurance sector.

Exploring Insurance and Natural Disaster Tweets Using Text Analytics

2017 ◽  
Vol 4 (1) ◽  
pp. 1-17 ◽  
Author(s):  
Tylor Huizinga ◽  
Anteneh Ayanso ◽  
Miranda Smoor ◽  
Ted Wronski
Keyword(s):  
Natural Disasters ◽  
Natural Disaster ◽  
Association Rule ◽  
Association Rule Mining ◽  
Insurance Companies ◽  
Insurance Company ◽  
Text Analytics ◽  
Rule Mining ◽  
Twitter Data ◽  
The World

This study explores twitter data about insurance and natural disasters to gain business insights using text analytics. The program R was used to obtain tweets that included the word ‘insurance' in combination with other natural disaster words (e.g., snow, ice, flood, etc.). Tweets related to six top Canadian insurance companies as well as the top five insurance companies from the rest of the world, including the new entrant Google Insurance, was collected for this study. A total of 11,495 natural disaster tweets and 19,318 insurance company tweets were analyzed using association rule mining. The authors' analysis identified several strong rules that have implications for insurance products and services. These findings show the potential text mining applications offer for insurance companies in designing their products and services.

The Dutch Colonial Business Elite at the Turn of the Century

Itinerario ◽  
1998 ◽  
Vol 22 (1) ◽  
pp. 61-86 ◽  
Author(s):  
Maarten Kuitenbrouwer ◽  
Huibert Schijf
Keyword(s):  
The Netherlands ◽  
Limited Liability ◽  
Economic Life ◽  
Insurance Companies ◽  
Economic Activities ◽  
Legal Form ◽  
East Indies ◽  
Business Elite ◽  
Indonesian Archipelago ◽  
Netherlands East Indies

In the last quarter of the nineteenth century the Dutch economy experienced a fresh take-off. Up-to-date steamships plied the shipping routes to the Netherlands East Indies; in the Netherlands the network of railways and canals was greatly expanded; modern insurance companies, commercial banks and other financial institutions were founded. The resultant growing need for external capital led to a new legal form of financing, the joint-stock or limited liability company, and the 1870s and 1880s saw the establishment of a relatively large number of newly founded companies of this type. Generally speaking, these companies represented business activities with a long-standing tradition in Dutch economic life: trade, banking and transportation. The economic take-off was also reflected in the growing number of joint-stock companies pursuing economic activities in colonial Indonesia, often with their headquarters in the Indonesian Archipelago itself. According to J. à Campo the number of such newly founded corporations was more than hundred for each year after 1896, reaching its highest level in 1910, when no less than 326 were founded.

scholarly journals MEASURING THE CUSTOMER PERCEIVED SERVICE QUALITY FOR LIFE INSURANCE SERVICES: AN EMPIRICAL INVESTIGATION

2010 ◽  
Vol 3 (3) ◽  
pp. 171 ◽  
Author(s):  
Masood H Siddiqui ◽  
Tripti Ghosh Sharma
Keyword(s):  
Customer Satisfaction ◽  
Service Quality ◽  
Life Insurance ◽  
Financial Planning ◽  
Financial Services ◽  
Corporate Image ◽  
Insurance Companies ◽  
Perceived Service Quality ◽  
Insurance Sector ◽  
Effective Strategies

Liberalization of the financial services sector has led to insurance companies functioning increasingly under competitive pressures; so companies are consequently directing their strategies towards increasing customer satisfaction and loyalty through improved service quality. The present study strives to develop a valid and reliable instrument to measure customer perceived service quality in life-insurance sector. The resulting validated instrument comprised of six dimensions: assurance, personalized financial planning, competence, corporate image, tangibles and technology. Further the results of analytical hierarchy process highlighted the priority areas of service instrument with assurance is the best predictor, followed by competence and personalized financial planning. The gap scores show that there is ample room for improvement in all the aspects related to service quality. These results would help the service managers to efficiently allocate attention and resources among these dimensions on the differential basis, consistent with the customer priorities. These findings can be transformed into effective strategies and actions for achieving competitive advantage through customer satisfaction and retention.

scholarly journals Improvement of Methodological Approaches to Determining Directions of Ensuring Financial Security of Insurance Companies of Ukraine

2021 ◽  
Vol 39 (5) ◽  
Author(s):  
Oleg A. Diegtiar ◽  
Olena A. Lutsenko ◽  
Liudmyla A. Polyvana ◽  
Tetiana A. Pushkar ◽  
Hanna A. Zhovtyak
Keyword(s):  
Methodological Approach ◽  
Financial Economic ◽  
Economic Security ◽  
Insurance Companies ◽  
Financial Security ◽  
Insurance Company ◽  
Insurance Sector ◽  
Destabilizing Factors ◽  
Methodological Approaches ◽  
Definition Of

Financial security of the insurance market significantly affects the financial, economic and social stability of society and should be included in the range of problems that are directly related to the issues of financial security of Ukraine. The main purpose of the article is to set out and solve the problem of improving methodological approaches to determining the directions of ensuring the financial security of insurance companies in Ukraine. The main functional tasks of financial security of insurance companies are identified. It has been proved that financial security is a component of economic security and a refined definition of this category has been provided. Destabilizing factors of influence on financial security of insurance companies have been identified and analyzed. A methodological approach to managing the financial security of an insurance company has been developed. A complex of proposals for the development of the insurance services market has been formed as a basis for strengthening the financial security of insurance companies. It was concluded that the insurance sector of Ukraine can actively develop provided that there is a clear theoretical and methodological justification of the toolbox, the implementation of a methodological approach to managing the financial security of the insurance company, taking into account all the problems and proposals for its continuous improvement and development in the changing conditions of the present.

scholarly journals Factors influencing export of financial services

2012 ◽  
Vol 3 (4) ◽  
pp. 41-58
Author(s):  
Marija Lindemane ◽  
Ilmars Purins ◽  
Didzis Rutitis
Keyword(s):  
Financial Services ◽  
World Trade ◽  
Common Factors ◽  
Research Data ◽  
Economic Activities ◽  
Factors Influencing ◽  
The World ◽  
Mathematical Processing ◽  
Almost All ◽  
Side Result

Almost all countries in the world are involved in the world trade of financial services. However, whereas for most countries the export of financial services is only a side result of their foreign economic activities, for some countries it composes a constitutive source of income. The purpose of the current research is to determine the factors that influence the export of financial services thereby explaining the differences in geographic allocation of financial services export throughout the world. For achieving this purpose, such research methodology as analysis of selected literature on financial services, an expert survey, as well as mathematical processing of the obtained research data have been used. The  result of the research has reflected common factors, which according to the financial experts’ opinion have the most significant influence on any country's export of financial services.

scholarly journals Technical Efficiency and Super-efficiency of the Insurance Sector in Slovakia

2015 ◽  
Vol 63 (6) ◽  
pp. 2205-2211 ◽  
Author(s):  
Emília Zimková
Keyword(s):  
Technical Efficiency ◽  
Insurance Companies ◽  
Regulatory Body ◽  
Insurance Company ◽  
Super Efficiency ◽  
Insurance Sector ◽  
Incentive Policy ◽  
Long Run ◽  
Dea Models ◽  
Radial Model

In this paper, the technical efficiency and the super-efficiency of a representative sample of insurance institutions in Slovakia is analyzed with the aid of data envelopment analysis (DEA). This paper differs from the so far published literature, as it extends the application of radial DEA models (the CCR model of Charnes, Cooper and Rodes; the BCC model of Banker, Charnes and Cooper) by a non-radial model (the SBM model of Tone) and a super-efficiency model. The supper-efficiency can be used either to rank efficient units or to indicate outliers in the analyzed group of decision making units. Achieved results also reveal that in the year 2013, among 13 Slovak insurance companies under evaluation, the AXA poisťovňa, a. s. was the super-efficient insurance company. The implications of gained results are then drawn for managerial and regulatory purposes. Firstly, it is shown how the management of the insurance institutions with the poorest performances should change their managerial procedures and adopt enhanced-incentive policy. Secondly, the regulatory body of the insurance institutions should utilize the gained technical efficiency of the analyzed institutions for the prediction of their competitiveness in the long run.

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