scholarly journals Impact of Medical Insurance Contracts Elements on the Profitability of Hospitals

2019 ◽  
pp. 569-576
Author(s):  
Dr. Mohyedin Hamza ◽  
Dr. Tarek Almbaidin ◽  
Emad Al-Rabi
Keyword(s):  
Medical Insurance ◽  
Insurance Companies ◽  
Radiology Department ◽  
Medical Procedures ◽  
Insurance Company ◽  
Medical Laboratories ◽  
Insurance Contracts ◽  
Medical Supplies ◽  
Study Results ◽  
The Impact

This study aims at identifying the impact of the elements of medical insurance contracts on the profitability of hospitals- a case study. To this end, the researchers collected the financial statements and the analytical reports of medical claims and the determinants of the origin of these claims (the actual deduction) from the accounts of the Islamic Hospital as well as the contracts and agreements signed between the Islamic Hospital and insurance companies showing the agreed contractual deduction on the hospital services, (The Medical Laboratories Department, Radiology Department, Pharmacy Department, Medical Procedures Department, and Medical Supplies Department) for the period 2006-2016. A set of appropriate statistical methods were applied through the SPSS program. The study results show that the study variable has, to a large extent, an impact on the profitability of the Islamic Hospital. The study provided a set of recommendations, mainly: establishing a division of medical approvals and audits that coordinates between the insured and the insurance company to guarantee the veracity of medical procedures.

scholarly journals Peculiarities and Priorities of the Insurance Market Development During the COVID-19 Pandemic

2021 ◽  
Vol 10 (525) ◽  
pp. 330-336
Author(s):  
O. Y. Zhabynets ◽  
Keyword(s):  
Mobile Application ◽  
Insurance Market ◽  
Insurance Companies ◽  
Insurance Company ◽  
The Novel ◽  
It Infrastructure ◽  
Key Factors ◽  
Insurance Contracts ◽  
Active Implementation ◽  
The Impact

The article analyzes the features, trends and priorities in the development of the insurance market in Ukraine in the context of the COVID-19 pandemic. In particular, the main indicators of the development of the insurance market during the pandemic 2020 were analyzed and the comparison of these indicators from 2019 was made. The main factors that in today’s realities will encourage consumers to buy insurance protection are allocated, the peculiarities of interaction of insurers with insurance companies when concluding insurance contracts during the quarantine period are highlighted. It is determined that development of the insurance market in Ukraine in the context of the global coronavirus pandemic and in the novel regulatory conditions was characterized by the active implementation of innovative technologies in the activities of insurance companies and the «purification» of the market from weak and inefficient companies. It is proved that according to the main indicators of development, the market has suffered a slight recession, and therefore, the impact of the pandemic on the insurance market in Ukraine can be considered moderate. It is detected that the key factors when choosing an insurance company to buy insurance protection today are: opportunity to purchase an insurance service online; individual tariffs for each consumer based on their specific needs; presence of an easy-to-use mobile application. Thus, insurance companies that will be able to quickly reorganize their IT infrastructure to simplify the customers’ access to insurance services, providing the most convenient way (channel) of interaction, and offering products that best meet their lifestyle and needs, will strengthen consumer confidence and develop their business within those consumer ecosystems that are being formed in today’s turbulent conditions of development.

Managing uncertainty in a general insurance company

1990 ◽  
Vol 117 (2) ◽  
pp. 173-277 ◽  
Author(s):  
C. D. Daykin ◽  
G. B. Hey
Keyword(s):  
Computer Model ◽  
Flow Model ◽  
Insurance Companies ◽  
Simulation Methods ◽  
Insurance Company ◽  
Practical Applications ◽  
General Insurance ◽  
Alternative Approaches ◽  
The Impact

AbstractA cash flow model is proposed as a way of analysing uncertainty in the future development of a general insurance company. The company is modelled alongside the market in aggregate so that the impact of changes in premium rates relative to the market can be assessed. An extensive computer model is developed along these lines, intended for use in practical applications by actuaries advising the management of genera1 insurance companies. Simulation methods are used to explore the consequences of uncertainty, particularly in regard to inflation and investments. Some comments are made on the role of actuaries in general insurance. Alternative approaches to describing the behaviour of an insurance firm in the market are considered.

scholarly journals INCREASING THE COMPETITIVENESS OF INSURANCE COMPANY PRODUCTS AND SERVICES USING ECONOMIC AND MATHEMATICAL MODELING METHODS

2021 ◽  
Author(s):  
Mykhailo Demydenko ◽  
Ihor Pistunov
Keyword(s):  
Mathematical Model ◽  
Social Activity ◽  
Insurance Companies ◽  
Comprehensive System ◽  
Insurance Company ◽  
Competitive Advantages ◽  
Insurance Policy ◽  
Insurance Policies ◽  
The Impact

The competitiveness of an insurance company depends on the competitiveness of the products and services it introduces in the market. The competitive advantages of the insurance company are expressed in the attractiveness and competitiveness of insurance policies. An economic and mathematical model of increasing the competitiveness of the insurance company is proposed, which allows to calculate the integrated indicator of competitiveness of the insurance policy based on a comprehensive system of indicators characterizing the reliability of the insurance company, quality of its services, competitiveness, social activity. To analyze the impact of these indicators on the competitiveness of the insurance policy and identify areas for improving the efficiency and competitiveness of the insurance company. The competitiveness of an insurance company depends on the competitiveness of the products and services it introduces in the market. The assessment of the quality of insurance company services is compliance with the needs, requirements, and insurance interests of customers. This assessment is performed each time an individual client chooses to cooperate with an insurance company that meets his insurance interests and wishes. Therefore, the overall competitiveness of the enterprise depends on the competitiveness of products and services offered on the market. The competitive advantages of the insurance company are expressed in the attractiveness and competitiveness of insurance policies. The insurance market in recent years has shown consistently high growth, which makes it attractive for doing business. In these conditions, the task of modeling the activities of the insurance company in a highly competitive market environment becomes relevant. A mathematical model of increasing the competitiveness of the insurance company is proposed, which allows to calculate the integrated indicator of competitiveness of the insurance policy based on a comprehensive system of indicators characterizing the reliability of the insurance company, quality of its services, competitiveness, social activity. With the proposed model, insurance companies can objectively assess their weaknesses and strengths to ensure continuous growth and decent competition in a competitive market environment. The model allows you to select performance indicators and perform modeling and determine the consequences of changes in this indicator, analyze the impact of these indicators on the competitiveness of insurance policies and identify areas for improving the efficiency and competitiveness of the insurance company. By conducting such experiments, insurance companies can make more informed choices and decisions, analyze areas of competitiveness, and more efficiently allocate resources.

scholarly journals OPTIMAL ASSET ALLOCATION IN LIFE INSURANCE: THE IMPACT OF REGULATION

2016 ◽  
Vol 46 (3) ◽  
pp. 605-626 ◽  
Author(s):  
An Chen ◽  
Peter Hieber
Keyword(s):  
Life Insurance ◽  
Asset Allocation ◽  
Regulatory Policy ◽  
Capital Requirements ◽  
Insurance Company ◽  
Traffic Light ◽  
Optimal Insurance ◽  
Insurance Contracts ◽  
Solvency Capital ◽  
The Impact

AbstractIn a typical equity-linked life insurance contract, the insurance company is entitled to a share of return surpluses as compensation for the return guarantee granted to the policyholders. The set of possible contract terms might, however, be restricted by a regulatory default constraint — a fact that can force the two parties to initiate sub-optimal insurance contracts. We show that this effect can be mitigated if regulatory policy is more flexible. We suggest that the regulator implement a traffic light system where companies are forced to reduce the riskiness of their asset allocation in distress. In a utility-based framework, we show that the introduction of such a system can increase the benefits of the policyholder without deteriorating the benefits of the insurance company. At the same time, default probabilities (and thus solvency capital requirements) can be reduced.

scholarly journals The impact of lending on bancassurance activity

2019 ◽  
Vol 13 (1) ◽  
pp. 171-181
Author(s):  
Elda Marzai Abliz
Keyword(s):  
Negative Impact ◽  
Distribution Channel ◽  
Solvency Ii ◽  
Capital Requirements ◽  
Financial Supervision ◽  
Insurance Companies ◽  
Insurance Company ◽  
Customer Base ◽  
Premium Income ◽  
The Impact

Abstract Due to financial crisis, and especially because of prudence in lending (retail, micro, and corporate), banks are looking for new sources of income, and bancasurance is clearly a potential source of revenue. Thus, in the financial market, the interests of two major components of it are met: banks maximize commission income, and insurers make access to the large customer base of banks. Bancassurance is a distribution channel of insurance products through bank branches, bringing important advantages for banks, insurance companies and customers. The main advantage for the bank is that earns fee amount from the insurance company, the insurance company increases customers data base and market share, the client satisfy his financial needs and requests in the same institution. Considering that in Romania, banks and insurers do not provide information on the number of insurances sold via the bancassurance distribution channel, as well as commissions obtained by banks for the insurance sale, to determine the development of bancassurance in Romania, we used the statistical data provided by the National Bank of Romania, on credit growth and data provided by The Financial Supervision Association, on the evolution of gross written premiums. Bancassurance is one of the most important insurance distribution channels, accounting for approximately 36% of the global insurance market, in 2016, Europe’s insurers generated total premium income of €1 189bn and had €10 112bn invested in the economy. Regarding to the risks of bancassurance business for banks and insurers, they mainly concern distinct capital requirements for the banking and insurance systems, which will be covered by the Basel III and Solvency II directives. This paper aims to analyze the influence of credit on the bancassurance activity in the last 5 years in Romania, the economic, political and legal factors that have a negative impact on the development of bancassurance, and also the calculating the correlation coefficient r (Pearson’s coefficient) and his result.

scholarly journals THE IMPACT OF THE INDUSTRIAL REVOLUTION 4.0 ON THE INSURANCE INDUSTRY AND WHETHER OF THE ASSETS AND INVESTMENTS PLAY A ROLE TO INVESTMENT YIELD?

2020 ◽  
Vol 8 (2) ◽  
pp. 345-351
Author(s):  
Iskandar Muda ◽  
Hafizah ◽  
Bunga Aditi ◽  
Hermansyur ◽  
Erlina
Keyword(s):  
Financial Services ◽  
Financial Stability ◽  
Industrial Revolution ◽  
Insurance Industry ◽  
Least Square Method ◽  
Partial Least Square ◽  
Least Square ◽  
Insurance Companies ◽  
Insurance Company ◽  
The Impact

Purpose of the study: This research aims to know the influence of the Industrial Revolution 4.0 era on the insurance industry on the side of assets and Investment insurance companies to Investment Yield Sharia Insurance in Indonesia. Methodology: This type of research is explanatory research. This type of research data is secondary data sourced from the Financial Services Authority (OJK) Republic of Indonesia period in 2016-2107. The tool of analysis in this research is the Partial Least Square method using Smart PLS statistics. Main Findings: The results are an influence of Assets and Investment on Investment Yield on insurance companies in the Industrial Revolution 4.0 era. In the era of the industrial revolution, 4.0 potential insurance improve economic growth through several aspects, namely promote financial stability. Facilitate trade and commercial activities. mobilize domestic savings. Offering a variety of risk management on capital. Increase more efficient allocation of capital and reduce the risk of loss and can increase Investment Yield for shareholders and stakeholders. Applications of this study: This research is the observation only on Sharia Insurance Company sample while other issuers are not observed in this study and this research implies that sharia insurance issuers are growing and contributing to their shareholders and shareholder. Novelty/Originality of this study: The first time observing the Sharia Insurance industry industrial Revolution 4.0 era and previous research to observe in Sharia banking.

scholarly journals Multiple Attribute Decision Making (MADM) in Proportional-Stop-Loss Reinsurance

2017 ◽  
Author(s):  
Jiexuan Wang
Keyword(s):  
Decision Making ◽  
Selection Process ◽  
Multiple Attribute Decision Making ◽  
Simulation Software ◽  
Insurance Companies ◽  
Insurance Company ◽  
Multiple Attribute ◽  
Study Results ◽  
Stop Loss

This article addresses reinsurance decision making process, which involves the insurance company and the reinsurance company, and is negotiated through reinsurance intermediaries. The article proposes a decision flow to model the reinsurance design and selection process. In contrast to existing literature on pure proportional reinsurance or stop-loss reinsurance, this article focuses on the combination into Proportional-Stop-loss reinsurance design which better addresses interest of both parties. In terms of methodology, the significant contribution of the study is to incorporate Multiple Attribute Decision Making (MADM) into modelling the reinsurance selection. The Multi-Objective Decision Making (MODM) model is applied in designing reinsurance alternatives. Then MADM is applied to aid insurance companies in choosing the most appropriate reinsurance contract. To illustrate the feasibility of incorporating intelligent decision supporting system in reinsurance market, the study includes a numerical case study using simulation software @Risk in modeling insurance claims, and programming in MATLAB to realize MADM. Managerial implications could be drawn from the case study results. More specifically, when choosing the most appropriate reinsurance, insurance companies should base their decision on multiple measurements instead of single-criteria decision making models for their decisions to be more robust.

scholarly journals Insurance Distribution Carried Out by Insurers in Spain

2020 ◽  
pp. 179-195
Author(s):  
Javier Vercher-Moll
Keyword(s):  
Insurance Companies ◽  
Insurance Company ◽  
Governance System ◽  
Legal Requirements ◽  
Insurance Policies ◽  
New Policies ◽  
The Impact

AbstractIn this chapter I analyze the impact that Directive 2016/97 has on insurance companies. The new requirements for employees who distribute the insurance policies of the insurance company increase the protection for customers. In addition, these new requirements lead to a reform of the governance system of the insurance company. New policies, new procedure manuals are necessary to carry out the distribution of insurance by the insurance company. Therefore, I will study the new legal requirements and their impact on the Spanish regulations.

ASSESSMENT OF FINANCIAL STABILITY AND PROFITABILITY OF THE INSURANCE COMPANY

2020 ◽  
Vol 2 (10) ◽  
pp. 80-86
Author(s):  
E. A. RUSETSKAYA ◽  
◽  
L. V. AGARKOVA ◽  
V. V. AGARKOV ◽  
◽  
...  
Keyword(s):  
High Risk ◽  
Financial Stability ◽  
Insurance Company ◽  
Large Share ◽  
Insurance Contracts ◽  
Financial Condition ◽  
Insurance Portfolio ◽  
Standard Values ◽  
The Impact ◽  
Authorized Capital

The study of the issues of financial stability and profitability of an insurance company showed that its financial condition is assessed as financially stable and highly profitable. Most of the calculated indicators correspond to the standard values. The company possesses a large share of highly liquid assets, is provided with its own funds, has a paid authorized capital, insurance reserves are sufficient to fulfill obligations under insurance contracts. The main directions of improving financial stability can be increasing the level of profitability and reducing the impact of risks by increasing the competitiveness of services, current forecasting of activities, optimization of the insurance portfolio, as well as reducing the share of high-risk investments.

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