scholarly journals Research on the Business Model of Insurance Companies Developing the Old-Age Care Communities—Taking China Life as an Example

2018 ◽  
Vol 08 (09) ◽  
pp. 1928-1940
Author(s):  
Lulu Shi ◽  
Yifeng Wang
Keyword(s):  
Old Age ◽  
Business Model ◽  
Insurance Companies ◽  
China Life

scholarly journals Health Insurance as a Healthcare Financing Mechanism in India: Key Strategic Insights and a Business Model Perspective

2021 ◽  
pp. 025609092110270
Author(s):  
Rohit Kumar ◽  
Aditya Duggirala
Keyword(s):  
Health Insurance ◽  
Business Model ◽  
Critical Success Factors ◽  
Success Factors ◽  
Insurance Industry ◽  
Insurance Companies ◽  
Healthcare Financing ◽  
Strategic Choices ◽  
Critical Success ◽  
Health Insurance Industry

This study provides strategic insights and a business model perspective on health insurance as a vehicle for financing healthcare. It uses both primary (expert interview) and secondary data to investigate the overall disease burden and healthcare industry trends and track healthcare financing through the health insurance mechanism in India. To identify the critical success factors and to gain a business model perspective within the health insurance industry, telephonic and face-to-face interviews were held with 27 experts in the healthcare, insurance, and strategic management field. The study’s findings suggest that the growth of health insurance as a healthcare financing mechanism in India has been challenged continuously and impacted by multiple changes in the health insurance and healthcare industry over the last decade. One of the critical challenges faced by insurance companies is the high incurred claim ratio. We find the Indian health insurance industry to be very competitive and that the focus on critical success factors can help insurance companies gain a competitive advantage. The health insurance business model is unique, with varying configurations, and broadly comprises strategic choices and consequences. In this article, drawing from the strategic management literature on the resource-based view (RBV) and insights gained from the interviews of healthcare and health insurance experts, we highlight the six critical success factors relevant for competing in the health insurance business. We also list five strategic choices that can help health insurance companies improve their profitability and gain a sustained competitive advantage. We recommend that the insurance companies design and develop an innovative business model centred around lowering the claim ratio and simultaneously increasing the customer willingness to pay. To increase the customer willingness to pay and reduce the claim ratio, the insurance companies should focus on the six critical success factors and invest in the five strategic choices.

scholarly journals Business Model Impact on the Financial Efficiency of Insurance Companies

2021 ◽  
Vol XXIV (Special Issue 4) ◽  
pp. 237-247
Author(s):  
Marzanna Lament ◽  
Sławomir Bukowski
Keyword(s):  
Business Model ◽  
Insurance Companies ◽  
Financial Efficiency

scholarly journals Risk of Disability, Old-age and Death: Pension Sustainability in Colombia

2017 ◽  
Vol 7 (1) ◽  
pp. 103
Author(s):  
Sergio Clavijo ◽  
Alejandro Vera ◽  
David Malagón ◽  
Laura Clavijo ◽  
Andrea Ríos ◽  
...  
Keyword(s):  
Minimum Wage ◽  
Old Age ◽  
The State ◽  
Insurance Companies ◽  
Fiscal Deficit ◽  
The Public ◽  
Defined Contributions ◽  
Life Annuities ◽  
The Cost

This paper concludes that the sustainability of the public “pay-as-you-go” pension regime in Colombia (RPM) looks fragile and is threatened by massive transfers from the private “defined contributions” regime (RAIS) to the RPM. The fiscal deficit of the RPM could be rising from 140% of GDP (in NPV) to 228% of GDP during the next three decades on account of the migration of close to nine million retirees moving to the RPM. Pressure to the fiscal budget will increase towards 90% of GDP (in NPV) as a result of the pension shortfall, making it very difficult to comply with a fiscal target of 4% of GDP per year. In addition, the life annuities’ market is quite shallow in Colombia due to: i) the State guarantee of a pension equivalent to 100% of a legal-minimum-wage (1 LMW); which in turn is fully indexed to annual inflation; and ii) the risk of assuming longer periods of pension enjoyment via judicial sentences (elevating the current expectations of 20-25 year period of enjoyment). Limiting the pension guarantee to 50-75% of a LMW, allowing for life-annuities recalculation, and decreasing the cost-margin of insurance companies would help place the Colombian life annuities market in a more financially sustainable path.

The development of friendly societies and life assurance in Australia

1983 ◽  
Vol 110 (3) ◽  
pp. 457-466
Author(s):  
R. Nobbs
Keyword(s):  
Twentieth Century ◽  
Social Policy ◽  
Old Age ◽  
Life Insurance ◽  
Insurance Companies ◽  
Private Institutions ◽  
Mutual Aid ◽  
Life Assurance ◽  
Friendly Societies ◽  
Building Societies

The increasing involvement of Australian governments and people in social welfare and the increasing number of histories appearing in this field, makes it appropriate to recognize the alternate institutions—the mutual-aid bodies. By looking at these private institutions, which began to develop in the nineteenth century, we gain some perspective on the initiatives of government in the twentieth century in social policy in Australia. This paper does not extend to banks, building societies or to other co-operatives, but is restricted to those two institutions, friendly societies and the life insurance companies, which sought to provide for the exigencies of sickness, old-age and death.

Multiasistencia: Transforming the Digital Ecosystem

2018 ◽  
Vol 8 (2) ◽  
pp. 97-109
Author(s):  
Javier Busquets
Keyword(s):  
Big Data ◽  
Business Model ◽  
Financial Institutions ◽  
Smart Home ◽  
Insurance Companies ◽  
Management Service ◽  
Digital Platform ◽  
Digital Ecosystem ◽  
Corporate Clients ◽  
Managerial Situation

Multiasistencia was an ecosystem in 2017 managing a network-based service called the “Comprehensive Claim Management Service” (CCMS). The firm offered home repair services to its 100 Corporate Clients (Financial Institutions and Insurance Companies) which attended to some 8 Million end customers, managing a network of some 6.000 Trade Professionals (SME and self-employee). The service was supported by an advanced digital platform to coordinate all actions in that ecosystem. The case shows the challenges of digitalization, namely (1) new digital entrants, (2) the Smart Home trends, (3) the digital effects on banking, and (4) the demand of personalization. Those strategic changes lead to Multiasistencia to create a Digital Hub to manage Big Data so placing students on the managerial situation to decide priorities in business model, processes, and new ways to grow.

scholarly journals PELAKSANAAN KLAIM PRODUK ASURANSI JP-ASTOR PADA PT. JASARAHARJA PUTERA CABANG PADANG

2019 ◽  
Author(s):  
Ratna Widayati ◽  
Insani
Keyword(s):  
Service Quality ◽  
Old Age ◽  
Insurance Premium ◽  
Insurance Companies ◽  
Insurance Claim ◽  
Excellent Service ◽  
Insured Person ◽  
Definition Of ◽  
Insurance Agreement

Insurance has a very important role in providing certainty protection for people, both commercial and non commercial, insurance can provide protection in the form of education, health, old age, death and property. Which is a necessity of life that is not less important in this era of globalization is the need for insurance services. The definition of insurance under KUHD 246 states that "insurance or coverage is an agreement by which the insurer strikes himself to an insured, accepting a premium, for replacement to him for an event that is not certain".Insurance companies have excellent service quality in serving the Customer including in serving insurance claims, because the quality of this service will be a benchmark for customers if they will use the same service, including for service claims. "Insurance Claim is a claim from the insured party in connection with the existence of the contract between the insurance agreement with the insured person who each party bind themselves to guarantee payment of compensation by the insurer if the insurance premium payment has been made by the insured, when the accident happened suffered by the insured party ".

scholarly journals Albanian Insurance Market Analyses and their Business Model

2018 ◽  
Vol 7 (3) ◽  
pp. 157-177
Author(s):  
Merita Bejtja
Keyword(s):  
Business Model ◽  
Financial Market ◽  
Free Market ◽  
Business Community ◽  
Insurance Market ◽  
Financial Supervision ◽  
Insurance Companies ◽  
Past Century ◽  
Insurance Company ◽  
Wide Range

Abstract The insurance market in Albania has been started to operate in the last years of centralized socialist system. It was represented by state insurance Company INSIG. It was the first important segment of the financial market to develop faster once Albania entered into the free market economy model on the last decade of the past century. It is the largest and most advanced market in non-banking financial sector. Together with investment funds, pension funds securities markets those are under the supervision of Albanian Financial Supervision Authority, not Central Bank. The insurance market, has had a lot development and positive growth in terms of wide range of products offer and the geographically expansion all over the country and in some neighboring countries in the Balkan region where Albanian population live. This potential is based on the favorable economic conditions, improved regulatory and supervisory system, low market penetration rate, as well as, on business community and population, which are dynamic and easily adaptable. The Insurance Industry has been undergoing dramatic changes during the last ten years. This industry can help the business companies and other entities on having economic and financial support, mitigating their risks and losses as well from natural disasters or other uncertainties. This sector can give a good support on social development and financial contribution on economy by reducing the risk of future losses. There are a lot of empirical research based on financial analyses of Albanian Insurance Companies in which you can see a causal relationship between insurance sector effects in economic growth by bearing risk on business investment. The study of qualitative and quantitative information on Main Insurance Company in Albania, their business model and risk drivers shows the development stage and challenges and steps needs to be in line with EU directives. Incorporation of international best practices combined with an efficient regulatory and supervisory approach will certainly play a very big role in the non-banking financial market development and growth.

scholarly journals IPTEKS PELAYANAN PRIMA TERHADAP KINERJA BAGIAN KEUANGAN ATAS KLAIM DANA PENSIUN PT TASPEN (PERSERO) CABANG MANADO

2018 ◽  
Vol 2 (02) ◽  
Author(s):  
Mutia Larasati S. Midu ◽  
Sherly Pinatik
Keyword(s):  
Customer Satisfaction ◽  
Financial Performance ◽  
Old Age ◽  
Customer Service ◽  
Social Insurance ◽  
Pension Fund ◽  
Insurance Companies ◽  
Good Service ◽  
Good Customer Service

PT TASPEN (Persero) Manado Branch is a State-owned business entity whose task is to manage social insurance programs which in this case handle the pension fund and old age savings program. Then, in its service, PT TASPEN (Persero) certainly requires the existence of procedures that are implemented in order to achieve customer satisfaction. Good service in insurance companies is certainly very influential on the assessment of financial performance and the existence of companies in shutter outside the company. Influence on financial performance because in the implementation of its main duties the part that regulates the problem of claiming funds is the field of services and benefits, where the fields are directly related to customers. So it is very important that there is good customer service so that it can carry out its duties and responsibilities in accordance with the objectives of the company, which is to become a trusted, clean and healthy pension and THT social insurance provider.Keywords : Insurance, pension fund, Costumer Service

scholarly journals An Incomplete Revolution: Corporate Governance Challenges of the London Assurance Company and the Limitations of the Joint-Stock Form, 1720–1725

2019 ◽  
Vol 21 (1) ◽  
pp. 239-270
Author(s):  
MICHAEL ALDOUS ◽  
STEFANO CONDORELLI
Keyword(s):  
Eighteenth Century ◽  
Corporate Governance ◽  
Business Model ◽  
Insurance Industry ◽  
A Priori ◽  
Organizational Form ◽  
Insurance Companies ◽  
Marine Insurance ◽  
Corporate Form ◽  
Governance Challenges

The London Assurance (LA) was incorporated in 1720, marking a significant innovation in the marine insurance industry. Contemporaries anticipated joint-stock firms such as the LA would rapidly outcompete private underwriters, yet this outcome did not occur. The success of the private underwriters has been ascribed to their organizational form. This paper reassesses these explanations and finds that, rather than an a priori worse business model, various corporate governance challenges limited the LA’s capacity to compete. This provides a more complete explanation for the relative failure of the joint-stock marine insurance companies and has implications for understanding the evolution of the corporate form in the eighteenth century.

scholarly journals Insurance and Banking Interconnectedness in Europe: The Opinion of Equity Markets

2012 ◽  
Vol 2012 ◽  
pp. 1-8 ◽  
Author(s):  
Ken Nyholm
Keyword(s):  
Business Model ◽  
Equity Markets ◽  
Insurance Companies ◽  
Similar Degree ◽  
Causality Analysis ◽  
Short Term ◽  
Granger Causality Analysis ◽  
European Insurance ◽  
Financial Equity ◽  
Periods Of Stress

Conditional expected shortfalls calculated for European insurance companies and banks under stressed market conditions are shown to be of similar magnitudes. Measured at 95% and 99% stress levels, on data covering the period from 1995 to 2011, the equity-return tail losses of insurance undertakings and banks are indistinguishable. Granger causality analysis, on all pairs of banks and insurance companies included in the sample, shows that banks and insurance companies have equal propensity to cause each others price movements. Even though the business model of insurance undertakings is different from the business model typically applied by banks, and even though insurance companies are not depending to a similar degree on short term funding as banks, the empirical results indicate that the financial equity markets in Europe do not differentiate their trading of banks and insurance companies in periods of stress.

Sign in / Sign up

Export Citation Format

Share Document