scholarly journals Thai Non-Life Insurance Companies’ Resilience and the Historic 2011 Floods: Some Recommendations for Greater Sustainability

2021 ◽  
Vol 13 (16) ◽  
pp. 8890
Author(s):  
Kanitsorn Terdpaopong ◽  
Robert C. Rickards
Keyword(s):  
Life Insurance ◽  
Performance Indicators ◽  
Key Performance Indicators ◽  
Insurance Companies ◽  
Data Envelopment ◽  
Firm Characteristics ◽  
The Past ◽  
Operating Profit ◽  
Long Run ◽  
Almost All

The severe flooding occurring in parts of Thailand in 2011 constituted the fifth most costly catastrophe worldwide during the past 31 years. Many businesses suffered either directly or indirectly. A sharp downturn in the country’s economy resulted, with Thai non-life insurance companies’ annual losses totaling USD 4.1 bn. Focusing first on changes in their key performance indicators (KPIs) as evidence of their financial resilience, this study analyses data for 58 companies from 2008–2010 (years prior to the flooding), 2011 (the flood year), and 2012–2014 (the immediate post-flood years). Descriptive and inferential statistics depict differences in firm characteristics and key performance indicators between these periods. The findings show that: (1) not surprisingly, the floods had a major impact on Thai non-life insurance companies’ finances; and (2) even after two years, they still had not recovered fully. Then, employing Data Envelopment Analysis (DEA), the study assesses the relative efficiency of 58 Thai non-life insurance companies in using their assets to generate operating profit. The evidence indicates that: (1) larger insurance companies are more efficient than smaller ones in this regard; and (2) almost all the entities examined performed less efficiently during the post-flood years than in earlier periods. These results serve as the basis for recommendations to Thai non-life insurance companies, government policymakers, and future researchers. Although Thai non-life insurance companies survived the challenges they faced during the study period, implementation of the measures recommended here likely would boost their technical efficiency and financial resilience, thereby facilitating their ability to operate more sustainably in the long run.

Measurements of workplace productivity in the office context: A systematic review and current industry insights

2021 ◽  
Author(s):  
B. Bortoluzzi ◽  
D. Carey ◽  
J.J. McArthur ◽  
C. Menassa
Keyword(s):  
Systematic Review ◽  
Performance Indicators ◽  
Knowledge Worker ◽  
Key Performance Indicators ◽  
Expert Interviews ◽  
Structured Interviews ◽  
Productivity Measurement ◽  
The Past ◽  
Workplace Productivity ◽  
Comprehensive Survey

Purpose – The aim of this paper is to present a comprehensive survey of workplace productivity key performance indicators used in the office context. Academic literature from the past ten years is systematically reviewed and contextualized through a series of expert interviews. Design/methodology/approach – The authors present a systematic review of literature to identify Key Performance Indicators (KPIs) and methods of workplace productivity measurement, complemented by insights semi-structured interviews to inform a framework for a benchmarking tool. 513 papers published since 2007 were considered, of which 98 full-length papers were reviewed, and 20 were found to provide significant insight and are summarized herein. Findings – Currently, no consensus exists on a single KPI suitable for measuring workplace productivity in an office environment, though qualitative questionnaires are more widely adopted than quantitative tools. The diversity of KPIs used in published studies indicates that a multidimensional approach would be most appropriate for knowledge-worker productivity measurement. Expert interviews further highlighted a shift from infrequent, detailed evaluation to frequent, simplified reporting across human resource functions and this context is important for future tool development. Originality/value – This paper provides a summary of significant work on workplace productivity measurement and KPI development over the past ten years. This follows up on the comprehensive review by B. Haynes (2007a), providing an updated perspective on research in this field with additional insights from expert interviews.

scholarly journals A COMPARATIVE STUDY OF CONVENTIONAL AND SHARIAH LIFE INSURANCE EFFICIENCY USING DATA ENVELOPMENT ANALYSIS

2020 ◽  
Vol 9 ◽  
Author(s):  
Mulia Saputra ◽  
Muhammad Arfan ◽  
Neni Zahara
Keyword(s):  
Data Envelopment Analysis ◽  
Life Insurance ◽  
Value Added ◽  
Sampling Technique ◽  
Insurance Companies ◽  
Data Envelopment ◽  
Insurance Company ◽  
Life Insurance Company ◽  
Purposive Sampling ◽  
Test Input

This study aims to analyze and compare the efficiency between conventional life insurance companies and Islamic life insurance companies in Indonesia over the period of 2014-2018. The sample of this study was taken from 10 conventional life insurance companies and 10 shariah life insurance companies that were selected based on the purposive sampling technique. Measurement of efficiency in this study was conducted using the method of data envelopment analysis (DEA) based on Bankers-Charnes-Cooper (BCC) and Charnes-Cooper-Rhodes (CCR) models of the value-added approach. This was followed by testing the hypothesis using a different Mann-Whitney U-test. Input variables used are assets, capital, general and administrative costs, and commission expenses. Meanwhile, the output variables are premiums and investment income. The results showed that conventional life insurance companies are more efficient than Islamic life insurance companies based on the BCC and CCR models. Furthermore, the results of different tests using the Mann-Whitney U-test showed an insignificant difference in efficiency between conventional life insurance companies and Islamic life insurance companies during the study period. The results of the comparison of the average efficiency value with the DEA method indicated that the efficiency level of a conventional life insurance company was better than a shariah life insurance company.========================================================================================================Studi Perbandingan Efisiensi antara Asuransi Jiwa Konvensional dengan Syariah Menggunakan Data Envelopment Analysis. Penelitian ini bertujuan untuk menganalisis perbandingan efisiensi perusahaan asuransi jiwa konvensional dengan perusahaan asuransi jiwa syariah di indonesia pada periode 2014-2018. Sampel penelitian ini adalah 10 perusahaan asuransi jiwa konvensional dan 10 perusahaan asuransi jiwa syariah yang dipilih berdasarkan teknik purposive sampling. Pengukuran efisiensi dalam penelitian ini menggunakan metode data envelopment analysis (DEA) dengan model BCC dan CCR berdasarkan pendekatan nilai tambah. dilanjutkan dengan melakukan uji hipotesis menggunakan uji beda mann-whitney u-test. Variabel input yang digunakan adalah aset. modal. biaya administrasi dan umum. dan beban komisi. Sedangkan variabel outputnya adalah premi dan pendapatan investasi. Hasil penelitian menunjukkan bahwa perusahaan asuransi jiwa konvensional lebih efisien dibandingkan perusahaan asuransi jiwa syariah berdasarkan pengukuran dengan model BCC maupun model CCR. Selanjutnya hasil uji beda menggunakan uji mann-whitney u- test menunjukkan bahwa tidak terdapat perbedaan efisiensi yang signifikan antara perusahaan asuransi jiwa konvensional dan perusahaan asuransi jiwa syariah selama periode penelitian ini. Hasil perbandingan nilai efisiensi rata-rata dengan metode DEA menunjukkan bahwa tingkat efisiensi perusahaan asuransi jiwa konvensional lebih baik daripada perusahaan asuransi jiwa syariah.

The Potential of Descriptive Building Specifications as an Alternative to Detailed Normative Calculations

2019 ◽  
Vol 887 ◽  
pp. 164-171
Author(s):  
Marija Marković ◽  
Ulrich Pont ◽  
Ardeshir Mahdavi
Keyword(s):  
Performance Indicators ◽  
Key Performance Indicators ◽  
Energy Performance ◽  
Building Envelope ◽  
Building Performance ◽  
The Past ◽  
Comprehensive Knowledge ◽  
Master Thesis ◽  
Relevant Calculation ◽  
Calculation Procedures

Energy performance calculations are stipulated by law in most European countries. Thereby, different calculation schemes have been developed in the past years in different countries. The physical processes in buildings were simplified in terms of normative calculation routines in most of these schemes. A major idea behind these simplifications was to enable different stakeholders (practitioners, engineers, and architects) to issue energy certificates without being simulation experts. Moreover, the simplifications needed to be described thoroughly in corresponding guidelines to ensure and facilitate the comparability of the energy performance of different buildings. However, neither of these objectives can be considered to be fully met. Regarding the former, the normative calculation procedures increased in complexity in the past years, so that the issuing of energy certificates requires not only the stakeholder’s expertise but also a comprehensive knowledge of the standards that form the calculation method. Regarding the latter, recent research efforts revealed that many guidelines do not fully cover every aspect of the calculation procedures and the assumptions regarding required input data. Thus, the comparability of energy certificates has to be strongly questioned, as a number of relevant calculation parameters are dependent on the interpretation of the corresponding issuer.Given this background, alternative approaches to building performance evaluation would be of interest. Previous approaches by different researchers suggested so called prescriptive indicators, which can be derived by basic building data (for instance, geometry and thermal quality of the building envelope components). This contribution is based on this concept. In the framework of a master thesis, a number of prescriptive indicators were considered. These indicators were derived for a set of sample buildings. In a parallel effort, energy certificates (encompassing Key Performance Indicators KPIs) were calculated for the sample buildings. It is clear that the prescriptive indicators cannot act as a 1:1 replacement for KPIs in terms of a numeric value. However, their usefulness can be expressed by the relation of the prescriptive indicator and the corresponding KPIs of a building. Thus, the results of the described calculation efforts were ranked. Subsequently, the lists of buildings ranked by the different indicators were compared in order to identify prescriptive indicators, which result in the same or at least similar ranking as the normative key performance indicators. Within this contribution, the suggested prescriptive indicators, the sample buildings, and the results of the analysis are presented and discussed.

scholarly journals On Legislation as to Life Insurance and Life Insurance Companies

1871 ◽  
Vol 16 (2) ◽  
pp. 77-98 ◽  
Author(s):  
T. B. Sprague
Keyword(s):  
United States ◽  
United Kingdom ◽  
Life Insurance ◽  
United States Of America ◽  
The United States ◽  
Insurance Companies ◽  
The Past ◽  
Life Assurance ◽  
The United Kingdom ◽  
The Law

The past session of Parliament has witnessed the passing of an Act for the regulation of Life Assurance Companies in the United Kingdom, which, while introducing great changes in the law, still stops very far short of the system of legislation which has been for several years in operation in a few of the United States of America, and which is warmly approved of and urgently recommended for adoption by some persons in this country. The present may therefore be considered a fitting time for reviewing what has been done and considering whether any further legislation is desirable, and if any, of what nature it should be.

scholarly journals A COMPARATIVE STUDY OF CONVENTIONAL AND SHARIAH LIFE INSURANCE EFFICIENCY USING DATA ENVELOPMENT ANALYSIS

2020 ◽  
Vol 9 (2) ◽  
pp. 110
Author(s):  
Mulia Saputra ◽  
Muhammad Arfan ◽  
Neni Zahara
Keyword(s):  
Data Envelopment Analysis ◽  
Life Insurance ◽  
Value Added ◽  
Sampling Technique ◽  
Insurance Companies ◽  
Data Envelopment ◽  
Insurance Company ◽  
Life Insurance Company ◽  
Purposive Sampling ◽  
Test Input

This study aims to analyze and compare the efficiency between conventional life insurance companies and Islamic life insurance companies in Indonesia over the period of 2014-2018. The sample of this study was taken from 10 conventional life insurance companies and 10 shariah life insurance companies that were selected based on the purposive sampling technique. Measurement of efficiency in this study was conducted using the method of data envelopment analysis (DEA) based on Bankers-Charnes-Cooper (BCC) and Charnes-Cooper-Rhodes (CCR) models of the value-added approach. This was followed by testing the hypothesis using a different Mann-Whitney U-test. Input variables used are assets, capital, general and administrative costs, and commission expenses. Meanwhile, the output variables are premiums and investment income. The results showed that conventional life insurance companies are more efficient than Islamic life insurance companies based on the BCC and CCR models. Furthermore, the results of different tests using the Mann-Whitney U-test showed an insignificant difference in efficiency between conventional life insurance companies and Islamic life insurance companies during the study period. The results of the comparison of the average efficiency value with the DEA method indicated that the efficiency level of a conventional life insurance company was better than a shariah life insurance company.========================================================================================================Studi Perbandingan Efisiensi antara Asuransi Jiwa Konvensional dengan Syariah Menggunakan Data Envelopment Analysis. Penelitian ini bertujuan untuk menganalisis perbandingan efisiensi perusahaan asuransi jiwa konvensional dengan perusahaan asuransi jiwa syariah di indonesia pada periode 2014-2018. Sampel penelitian ini adalah 10 perusahaan asuransi jiwa konvensional dan 10 perusahaan asuransi jiwa syariah yang dipilih berdasarkan teknik purposive sampling. Pengukuran efisiensi dalam penelitian ini menggunakan metode data envelopment analysis (DEA) dengan model BCC dan CCR berdasarkan pendekatan nilai tambah. dilanjutkan dengan melakukan uji hipotesis menggunakan uji beda mann-whitney u-test. Variabel input yang digunakan adalah aset. modal. biaya administrasi dan umum. dan beban komisi. Sedangkan variabel outputnya adalah premi dan pendapatan investasi. Hasil penelitian menunjukkan bahwa perusahaan asuransi jiwa konvensional lebih efisien dibandingkan perusahaan asuransi jiwa syariah berdasarkan pengukuran dengan model BCC maupun model CCR. Selanjutnya hasil uji beda menggunakan uji mann-whitney u- test menunjukkan bahwa tidak terdapat perbedaan efisiensi yang signifikan antara perusahaan asuransi jiwa konvensional dan perusahaan asuransi jiwa syariah selama periode penelitian ini. Hasil perbandingan nilai efisiensi rata-rata dengan metode DEA menunjukkan bahwa tingkat efisiensi perusahaan asuransi jiwa konvensional lebih baik daripada perusahaan asuransi jiwa syariah.

scholarly journals IMPACT OF CAPITAL STRUCTURE ON THE PERFORMANCE OF QUOTED INSURANCE FIRMS IN NIGERIA

2021 ◽  
Vol 9 (07) ◽  
pp. 324-334
Author(s):  
Oluwaleye, Taiwo Olarinre ◽  
◽  
Kolapo, Funso Tajudeen (PhD) ◽  
Ajayi, Foluso Isaac ◽  
◽  
...  
Keyword(s):  
Firm Performance ◽  
Capital Structure ◽  
Granger Causality ◽  
Life Insurance ◽  
Panel Cointegration ◽  
Insurance Companies ◽  
Causality Test ◽  
Long Run ◽  
Short Run ◽  
The Impact

Evidence from the past studies revealed that capital structure has an impact on the firm performance. This research appraises the impact of capital structure on the performance of quoted life insurance companies in Nigeria from 2010 to 2019. The researchers used the panel cointegration model, autoregressive dynamic lag error correction model and pair wise granger causality test to measure the relationship among the variables. The study revealed that capital structure and firm performance has a long-run relationshipand 81% long run disequilibrium is corrected within a year. It was also apparent that there is a significant short run relationship between liquidity of life insurance and return on asset. The Granger causality outcome also shows that bidirectional causality exists between firm size (SIZE) and profitability (ROA) in the short run. We conclude that a large size of life insurance firm has more scope to make more profit in Nigeria context within the study period. The study recommended that to maximize firm’s performance managers must endeavor to obtain and maintain an optimum capital structure level among others.

Combining Life and Health Insurance*

2019 ◽  
Vol 135 (2) ◽  
pp. 913-958 ◽  
Author(s):  
Ralph S J Koijen ◽  
Stijn Van Nieuwerburgh
Keyword(s):  
Health Insurance ◽  
Life Insurance ◽  
Survival Rates ◽  
Insurance Companies ◽  
Insurance Markets ◽  
Free Access ◽  
Access To Treatment ◽  
Term Care ◽  
Long Run ◽  
Premium Income

Abstract We estimate the benefit of life-extending medical treatments to life insurance companies. Our main insight is that life insurance companies have a direct benefit from such treatments because they lower the insurer’s liabilities by pushing the death benefit further into the future and raising future premium income. We apply this insight to immunotherapy, treatments associated with durable gains in survival rates for a growing number of cancer patients. We estimate that the life insurance sector’s aggregate benefit from FDA-approved immunotherapies is $9.8 billion a year. Such life-extending treatments are often prohibitively expensive for patients and governments alike. Exploiting this value creation, we explore various ways life insurers could improve stress-free access to treatment. We discuss potential barriers to integration and the long-run implications for the industrial organization of life and health insurance markets, as well as the broader implications for medical innovation and long-term care insurance markets.

Αποτελεσματικότητα και αποδοτικότητα των αρχών φορολογικής διοίκησης στις χώρες της Ευρωζώνης

2020 ◽  
Author(s):  
Κορνηλία Λιανού
Keyword(s):  
Data Envelopment Analysis ◽  
Performance Indicators ◽  
Key Performance Indicators ◽  
Data Envelopment

Η διατριβή αυτή έχει ως αντικείμενο μελέτης και έρευνας την αποτελεσματικότητα και την αποδοτικότητα των αρχών φορολογικής διοίκησης στις χώρες της Ευρωζώνης. Σκοπός της είναι να αναλύσει τις σύγχρονες θεωρίες και προσεγγίσεις σχετικά με την αποδοτικότητα και την αποτελεσματικότητα των φορολογικών διοικήσεων και την βελτίωση του φοροεισπρακτικού τους μηχανισμού. Η διατριβή χωρίζεται σε δυο μέρη. Το πρώτο μέρος εξετάζει ζητήματα εννοιολογικού περιεχομένου, θεσμικού πλαισίου και οργανωτικής δομής των φορολογικών διοικήσεων. Εστιάζει στο ζήτημα της αυτονομίας και αναλύει το θεωρητικό υπόδειγμα της Ημιαυτόνομης Αρχής Εσόδων. Επικεντρώνεται στους δείκτες μέτρησης της απόδοσης ως ευρύτερο μέρος της διαδικασίας του στρατηγικού και επιχειρησιακό σχεδιασμού των Ημιαυτόνομων Αρχών Εσόδων. Αναλύει τους καίριους δείκτες απόδοσης (Key Performance Indicators) και την στρατηγική που εφαρμόζουν οι φορολογικές διοικήσεις για την διαχείριση του χρέους με σκοπό την βελτίωση του φοροεισπρακτικού τους μηχανισμού. Επίσης αναλύει το σύστημα διαχείρισης της απόδοσης του ανθρώπινου δυναμικού μέσα από τις εμπειρίες των φορολογικών διοικήσεων. Στο δεύτερο μέρος της διατριβής διερευνάται η αποδοτικότητα των φορολογικών διοικήσεων μέσα από τη μέθοδο της Περιβάλλουσας Ανάλυσης Δεδομένων (Data Envelopment Analysis -DΕA), που λειτουργούν υπό τη μορφή μιας Ημιαυτόνομης Αρχής Εσόδων στις χώρες της Ευρωζώνης, με σκοπό την εξεύρεση μεταβλητών που επηρεάζουν την αποδοτικότητα τους και την ανάδειξη των μεταβολών που μπορούν να τις καθορίσουν ως αποδοτικές. Αρχικά αποτυπώνονται τα σημαντικότερα αποτελέσματα, που έχουν προκύψει από έρευνες στο συγκεκριμένο πεδίο. Στη συνέχεια δημιουργήθηκε ένα μοντέλο σύγκρισης με προσανατολισμό τη μεγιστοποίηση των εκροών και ελαχιστοποίηση των εισροών, το μοντέλο CCR για την μέτρηση της αποδοτικότητας των ημιαυτόνομων Αρχών Εσόδων στις χώρες της Ευρωζώνης. Ακολουθεί μια ανάλυση πολλαπλής παλινδρόμησης με τη δημιουργία ενός μοντέλου που εξηγεί 2 πως επιλεγμένες μεταβλητές για την βελτίωση του φοροεισπρακτικού μηχανισμού έχουν επίδραση στην αποδοτικότητα των Ημιαυτόνομων Αρχών Εσόδων των φορολογικών διοικήσεων και προκύπτουν προτάσεις για την βελτίωση του. Η διατριβή καταλήγει ότι η αποδοτικότητα των φορολογικών διοικήσεων που θεσμικά εκπροσωπούνται από Ημιαυτόνομες Αρχές εσόδων, επηρεάζεται, από τις μεταβλητές που αφορούν τις συνολικές καθυστερήσεις στο οφειλόμενο χρέος ως ποσοστό εισπράξεων ανά τύπο φόρου, το κόστος της ψηφιακής οικονομίας και το ανθρώπινο δυναμικό. Το υψηλότερο ποσοστό δαπανών για τη χρήση τεχνολογιών πληροφορικής, μέσω ειδικών προγραμμάτων πληροφορικής, η οριακή αύξηση του προσωπικού που χρησιμοποιείται για την παροχή υπηρεσιών με εξειδίκευση στον έλεγχο, την έρευνα και την είσπραξη οφειλών, η μείωση του ποσοστού των συνολικών καθυστερήσεων του οφειλόμενου χρέους, οδηγούν αναμφίβολα σε υψηλότερο επίπεδο παρεχόμενων υπηρεσιών προς στους φορολογούμενους, βελτιώνουν τη διαδικασία ανάκτησης χρέους και συνακόλουθα αυξάνουν την αποδοτικότητα του φοροεισπρακτικού μηχανισμού.

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