eInsurance

2010 ◽  
pp. 107-125
Author(s):  
Aki Ahonen ◽  
Jarno Salonen ◽  
Raija Järvinen ◽  
Jouni Kivistö-Rahnasto
Keyword(s):  
Financial Services ◽  
Financial Sector ◽  
Business Sector ◽  
Service Concept ◽  
Electronic Service ◽  
Collaborative Working ◽  
Working Practices ◽  
Insurance Business ◽  
Organizational Logic

The chapter introduces an innovative organizational logic for developing and designing electronic services especially in the context of financial services, such as insurance. Furthermore, a novel electronic insurance service concept for consumers is introduced in the chapter. The authors argue that development of electronic service solutions for the use of financial sector formerly rather conducted in an organization may well be executed through a multi-organizational project-based working logic. In fact the chapter establishes that the multi-organizational project-based logic results in a more creative outcome. Hence, the authors hope that the chapter encourages both academics and especially practitioners within the insurance business sector to take steps towards more collaborative working practices in order to generate more creative electronic service solutions for customers.

eInsurance

2011 ◽  
pp. 911-928
Author(s):  
Aki Ahonen ◽  
Jarno Salonen ◽  
Raija Järvinen ◽  
Jouni Kivistö-Rahnasto
Keyword(s):  
Financial Services ◽  
Financial Sector ◽  
Business Sector ◽  
Service Concept ◽  
Electronic Service ◽  
Collaborative Working ◽  
Working Practices ◽  
Insurance Business ◽  
Organizational Logic

The chapter introduces an innovative organizational logic for developing and designing electronic services especially in the context of financial services, such as insurance. Furthermore, a novel electronic insurance service concept for consumers is introduced in the chapter. The authors argue that development of electronic service solutions for the use of financial sector formerly rather conducted in an organization may well be executed through a multi-organizational project-based working logic. In fact the chapter establishes that the multi-organizational project-based logic results in a more creative outcome. Hence, the authors hope that the chapter encourages both academics and especially practitioners within the insurance business sector to take steps towards more collaborative working practices in order to generate more creative electronic service solutions for customers.

scholarly journals Mekanisme Perlindungan Konsumen Usaha Asuransi oleh Otoritas Jasa Keuangan

2019 ◽  
Vol 21 (1) ◽  
pp. 129-144
Author(s):  
Desi Aeriani Putri ◽  
Sri Walny Rahayu
Keyword(s):  
Consumer Protection ◽  
Financial Services ◽  
Service Sector ◽  
Financial Service ◽  
The Other ◽  
Business Sector ◽  
Arbitration Board ◽  
Insurance Business ◽  
Indirect Supervision

Pasal 4 huruf c Undang-Undang Nomor 21 Tahun 2011 tentang Otoritas Jasa Keuangan disebutkan tujuan OJK agar keseluruhan kegiatan sektor jasa keuangan mampu melindungi konsumen antara lain di bidang usaha asuransi. Aturan lainnya disebutkan dalam Pasal 51 dan Pasal 52 Peraturan OJK Nomor 1 tahun 2013 Tentang Perlindungan Konsumen Sektor Jasa Keuangan disebutkan dalam melindungi konsumen OJK melakukan pengawasan secara langsung maupun tidak langsung terhadap penerapan perlindungan konsumen yang dilakukan pelaku usaha secara berkala. OJK melindungi tertanggung apabila adanya pengaduan dengan hanya memfasilitasi penyelesaian pengaduan sebagaimana diatur dalam Pasal 39 ayat (3) POJK No.1/2013. Upaya yang dilakukan yaitu mempertemukan para pihak untuk mengkaji ulang permasalahan yang timbul atas penolakan klaim. Apabila terjadinya kesepakatan maka kesepakatan dituangkan dalam Akta Kesepakatan. Namun, para pihak dapat menyelesaikan melalui pengadilan atau Badan Mediasi dan Arbitrase Asuransi Indonesia (BMAI) jika tidak tercapainya kesepakatan. Mechanism of Insurance Consumer Protection by the Authority of Financial Services The article 4 (c) of Law No. 21 of 2011 on Financial Services Authority (UU OJK) mentioned that the purpose of Financial Services Authority (OJK) is all of activities from all sector of OJK to be able to protect the consumers and society including insurance business sector. The other regulation which is mentioned in article 51 and article 52 of the regulation of Financial Services Authority (OJK) No. 1 of 2013 on the protection for the consumer of financial service sector mentioned that in term of protecting the consumer, the financial services authority (OJK) conducts direct and indirect supervision towards the implementation of consumer protection which is done by the business actors regularly. OJK protects the insured parties if there is a complaint by only facilitating the settlement of complaints as stipulated in Article 39 paragraph (3) POJK No.1 / 2013. The effort which is conducted is that to bring the parties together to review the problems arising from the rejection of claims. If an agreement occurs, the agreement should be stated in the deed of agreement. However, the parties could do the settlement through the court or the Indonesian Insurance Mediation and Arbitration Board (BMAI) if no agreement is reached.

Distributed Creativity

2017 ◽  
Keyword(s):  
Contemporary Music ◽  
Division Of Labour ◽  
Conceptual Frameworks ◽  
Creative Processes ◽  
Distinctive Features ◽  
Concert Music ◽  
Collaborative Creativity ◽  
Collaborative Working ◽  
Working Practices ◽  
And Performance

Creative practice in music takes place in a distributed and interactive manner embracing the activities of composers, performers and improvisers—despite the sharp division of labour between these roles that traditional concert culture often presents. Two distinctive features of contemporary music are the greater incorporation of improvisation and the development of integrated and collaborative working practices between composers and performers. By blurring the distinction between composition and performance, improvisation and collaboration provide important perspectives on the distributed creative processes that play a central role in much contemporary concert music. This volume explores how collaboration and improvisation enable and constrain these creative processes. Organized into three parts, thirteen chapters and twelve shorter Interventions present diverse perspectives on distributed and collaborative creativity in music, on a range of collaborations between composers and performers, and on the place of improvisation within contemporary music, broadly defined. The thirteen chapters provide more substantial discussions of a variety of conceptual frameworks and particular projects, while the twelve Interventions provide more informal contributions from a variety of practitioners (composers, performers, improvisers), giving direct insights into the pleasures and problems of working creatively in music in collaborative and improvised ways.

The Impact of ‘Branchless Banking’ on Building Society Branch Networks

2001 ◽  
Vol 33 (8) ◽  
pp. 1371-1384 ◽  
Author(s):  
Richard Willis ◽  
J Neill Marshall ◽  
Ranald Richardson
Keyword(s):  
Financial Services ◽  
Financial Sector ◽  
Telephone Call ◽  
Current Phase ◽  
The Internet ◽  
Building Society ◽  
Call Centres ◽  
Complex Picture ◽  
Use Of The Internet ◽  
The Impact

The authors examine the impact of the remote delivery of financial services on the branch network of British building societies. The current phase of branch-network rationalisation in the financial sector in Europe and North America is argued in the academic literature to be the inevitable consequence of the growth of electronic and telemediated forms of delivery of financial services. In the British building society sector, despite some evidence of branch closure as the use of the Internet and telephone call centres in the delivery of financial services has grown, the picture that emerges is of a dynamic branch network that is responding to changing customer demands and new technological possibilities. Face-to-face advice and discussions between customers and trained ‘experts’ remain an important part of the mortgage transaction. In the savings market, where products have become more commodified, telephone call centres and, more recently, the Internet have become more prominent, but institutions still rely heavily on the branch network to deliver services. The authors suggest that, although there have been changes in the relative importance of different distribution channels as sources of business in the financial sector, it is wrong to view these changes in terms of a simple branch-versus-direct dichotomy. A more complex picture is presented, with most institutions adopting a multichannel approach to the delivery of financial services, and electronic forms of delivery of financial services being developed as an additional delivery channel alongside the branch.

scholarly journals Collaborative working practices: Imagining better research partnerships

2017 ◽  
Vol 1 (2) ◽  
pp. 310-322 ◽  
Author(s):  
Zanib Rasool
Keyword(s):  
Collaborative Research ◽  
Social Research ◽  
Funds Of Knowledge ◽  
Knowledge Gap ◽  
Ordinary People ◽  
Research Partnerships ◽  
The Everyday ◽  
Collaborative Working ◽  
Working Practices ◽  
Everyday Experiences

Collaborative research can bring communities to the heart of social research and provide a lens on the everyday experiences of ordinary people living extraordinary lives, capturing the funds of knowledge held in communities that exist outside the corridors of education institutions. If delivered in an ethical way, co-production can empower communities and elevate voices that traditionally have been on the margins. Through collaboration, we can bridge the knowledge gap that exists between communities and universities and raise community aspirations.

scholarly journals What Determines the Financial and Insurance Services Exports: The Case of the United Kingdom

2021 ◽  
Vol 3 (6) ◽  
pp. 1071-1081
Author(s):  
Emmanouil Karakostas
Keyword(s):  
United Kingdom ◽  
Financial Services ◽  
Positive Impact ◽  
Essential Element ◽  
Political Stability ◽  
Financial Sector ◽  
State Intervention ◽  
Ordinary Least Squares ◽  
The United Kingdom ◽  
Almost All

The financial sector is a very basic pillar of the international financial system. Almost all countries of the present international economic system participate in international financial services. Today's era, due to intense globalization, constant capital movements, continuous commercial integration and the ever-increasing financial interconnection, have made financial and insurance services an essential element of the present reality. The financial sector is an industry that is very 'sensitive' to the macroeconomic and political stability of countries. This means that countries that are considered unstable cannot have a positive impact on their financial activities. One country that has a strong position in the financial sector is the United Kingdom (UK). The question that can be asked is this: what are the factors that determine the optimal functioning of financial and insurance activities. One answer could be the strong financial institutions of a country. Another answer is the corruption indicator. Or even the existence of intervention by the state apparatus in the financial functions. Of course, these factors must have tangible proof of the functioning of the economy. State intervention, for example, does not entirely mean that it is dysfunctional. This study will seek to create a framework for the analysis of financial services factors. The methodology applied is The Multiple Linear Regression - Ordinary Least Squares (OLS).

scholarly journals FORMATION OF THE REGULATION OF THE NATIONAL ECONOMY’S FINANCIAL SECTOR

2021 ◽  
Author(s):  
Roman Sharavara
Keyword(s):  
Financial Market ◽  
Financial Services ◽  
Technological Development ◽  
Financial Sector ◽  
Cash Flows ◽  
Financial Supervision ◽  
National Regulation ◽  
Market Participants ◽  
Modern Economic ◽  
National Economies

An analysis of the applied forms of cross-sectoral approach to the organization of supervision and regulation of the financial sector of different types of national economies, including the Ukrainian one, is presented. Particular attention is paid to the role of the central bank in improving the coordination of regulators of the national financial market. It is determined that effective financial supervision, in the modern sense, should combine the performance of three key functions: macroprudential supervision, microprudential supervision and business integrity supervision. With technological development, the integration of financial sector segments and the emergence of complex financial products, the segmental core of regulation has been lost. One of the main current problems is to identify the risks posed by integrated financial instruments, financial corporations take them on, and also track the ways in which they spread. Institutional and sectoral models of financial supervision are analyzed. A common feature of institutional and functional approaches is the growing need to improve the coordination of national financial regulators and comprehensively increase its efficiency. The expediency of creating a macro-regulator in the conditions of modern economic systems is substantiated. The possibility of consolidated supervision is revealed, which eliminates interdepartmental conflict of interests, better control of transactions and cash flows. Peculiarities of macroregulators functioning in Great Britain, Australia, and the Netherlands have been studied. Developing a unified approach can increase the speed of response to identified threats and its adequacy, as well as reduce regulatory arbitrage by supervised organizations. The mega-regulator is able to provide due attention to the control of the integrity of business by financial market participants, protection of interests and awareness of market participants and consumers of financial services in comparison with the functional and institutional models. The priority system of national regulation of the financial sector for the Ukrainian economy is determined.

scholarly journals THE INTERDEPENDENCE BETWEEN THE FINANCIAL SECTOR AND BUSINESS SECTOR IN ASEAN 4 COUNTRIES

2018 ◽  
Vol 33 (1) ◽  
pp. 77
Author(s):  
Aulia Keiko Hubbansyah ◽  
Zaafri Ananto Husodo
Keyword(s):  
Financial Sector ◽  
Business Sector ◽  
Dynamic Interactions ◽  
Credit Growth ◽  
Vector Autoregressive ◽  
Quarterly Data ◽  
Dominant Source ◽  
Leading Role ◽  
Index Approach ◽  
Business Sectors

In this study, we analyze the dynamic interactions between the financial sectors and the business sectors in the ASEAN-4 countries (Indonesia, Malaysia, Thailand and Singapore). To do that, we apply the newly generalized version of the Vector Autoregressive Framework (VAR) spillover index approach proposed by Diebold and Yilmaz (2012) as our method of analysis. Based on quarterly data of each variable over the period from the first quarter of 1984 to the fourth quarter of 2015 for the ASEAN-4 countries, this study finds that: 1) Spillovers between the variables move in a diverse manner over the period of analysis for each country, 2) The variable that acts as the dominant crisis transmitter in each country is different for each country, 3) The interdependence between the variables became stronger, both within and across the countries, during the crisis period. In particular, the business sectors played a leading role during the onset of the crisis, while the financial sectors took their places as the dominant source of spillovers as the crisis deepened. 4) Credit growth in Thailand was found to be the dominant transmitter of shocks to the ASEAN-3 countries. Overall, these results suggest that the strength and movement of the spillovers between the financial and business sectors changed from time to time along with the changes that happened in the economies.  

scholarly journals Analysis of Sources and Mechanisms of Financing Innovative Activity in the Conditions of Digital Economy

2020 ◽  
Vol 16 (2) ◽  
pp. 36-41
Author(s):  
Yekaterina N. Bykovskaya ◽  
Yuliya N. Kafiyatullina ◽  
Gocha P. Kharchilava
Keyword(s):  
Financial Services ◽  
Innovation Process ◽  
Financial Sector ◽  
Developed Countries ◽  
The United States ◽  
Internet Banking ◽  
Digital Economy ◽  
Innovative Activity ◽  
Technological Innovations ◽  
Stage Of Development

The Object of the Study. Innovative activity The Subject of the Study. Sources of financing innovation The Purpose of the Study is identifying of optimal sources of innovation in the digital economy. The Main Provisions of the Article. The most important elements of a system that ensures the smooth functioning of the innovation process are the sources and mechanisms of financing technological innovation. At the present stage of development, such an adequate and effective holistic system in the Russian Federation has not been created. The key conditions for creating a favorable economic environment are: the effective functioning of financing mechanisms, the quality and condition of investment sources, which determine the ability and potential of creating and implementing technological innovations. The digital economy is currently opening up conceptually new sources of funding. The dynamic development of digital solutions and technologies in the financial sector enables organizations to reduce the time spent on searching and making decisions about the source, mechanism and procedures for financing operational and strategic activities. The innovative activity carried out on an ongoing basis allows organizations to dynamically develop, meet business trends, or even create them. As you know, innovation requires serious investment and, as a rule, the more risky the innovation, the greater the profitability it has. In foreign practice of financing innovation, crowdfunding platforms have become widespread. Currently, the United States and individual EU representatives are the undisputed leaders in the development of financial technologies, payment systems, digitalization of financial services. In terms of the penetration of digital technologies in the financial sector (it reaches 85% according to experts), such countries also occupy the first positions. One of the main trends of the financial sector in developed countries is the creation of virtual banks and the Internet banking service. The article analyzes and evaluates the structure of sources of financing technological innovations, carries out a comparative analysis of financing research and development in Russia and developed countries, and considers the possibilities of using digital tools and sources to finance innovation.

scholarly journals Institutional Arrangements for Fintech Regulation and Supervision

FinTech Notes ◽  
2020 ◽  
Vol 19 (02) ◽  
Author(s):  
Charles Taylor ◽  
Christopher Wilson ◽  
Eija Holttinen ◽  
Anastasiia Morozova
Keyword(s):  
Financial Services ◽  
Financial Stability ◽  
Conflicts Of Interest ◽  
Financial Sector ◽  
Institutional Arrangements ◽  
Dual Roles ◽  
Regulation And Supervision ◽  
Regulatory Architecture ◽  
Institutional Structures ◽  
Policy Objectives

Fintech developments are shaking up mandates within the existing regulatory architecture. It is not uncommon for financial sector agencies to have multiple policy objectives. Most often the policy objectives for these agencies reflect prudential, conduct and financial stability policy objectives. In some cases, financial sector agencies are also allocated responsibility for enhancing competition and innovation. When it comes to fintech, countries differ to some extent in the manner they balance the objectives of promoting the development of fintech and regulating it. Countries see fintech as a means of achieving multiple policy objectives sometimes with lesser or greater degrees of emphasis, such as accelerating development and spurring financial inclusion, while others may support innovation with the objective of promoting competition and efficiency in the provision of financial services. This difference in emphasis may impact institutional structures, including the allocation of staff resources. Conflicts of interest arising from dual roles are sometimes managed through legally established prioritization of objectives or establishment of separate internal reporting lines for supervision and development.

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