scholarly journals Determinants of Unethical Behavior by Stakeholders in the Medical Insurance Industry in Zimbabwe: An African Humanism (Hunhu/Ubuntu) Approach

2016 ◽  
Vol 5 (2) ◽  
pp. 63
Author(s):  
Sifile Obert ◽  
Zimbiti Phillip Okay ◽  
Chavunduka Desderio
Keyword(s):  
Organizational Performance ◽  
Insurance Industry ◽  
Case Study Research ◽  
Medical Insurance ◽  
Insurance Companies ◽  
Structured Interviews ◽  
Risky Behaviour ◽  
Chi Square ◽  
Ethical Practices ◽  
Qualitative Methodologies

There is a continuous decline in the performance of medical insurance companies in Zimbabwe resulting in these companies failing to meet their obligations to stakeholders as seen by failure to pay wages, policy holders’ medical bills and dividends to shareholders. While research shows <em>Hunhu/Ubuntu </em>as a requirement for ethical practices that bring about good business and moral practices, it does not show how <em>Hunhu/Ubuntu </em>influences stakeholders, employee behaviour and organizational performance. Due to this glaring gap, the study was designed to investigate: the causes of unethical behaviour in the medical insurance industry, the attributes of African Humanism and how it influences people’s behaviour in medical insurance firms. A case study research design was used where both quantitative and qualitative methodologies were employed. Closed and open-ended questionnaires, semi-structured interviews and focus group discussions were conducted. Chi-square tests were used for data analysis. Findings of the study show that <em>Hunhu/Ubuntu</em> moulds good behaviour and is essential for avoiding risky behaviour which curtails organizational performance<strong>.</strong>

scholarly journals The Impact of Sales Promotion and Product Branding on Company Performance (“STATE LIFE” Insurance Industry of Pakistan)

2015 ◽  
Vol 50 ◽  
pp. 129-136
Author(s):  
Muhammad Ibrar
Keyword(s):  
Organizational Performance ◽  
Life Insurance ◽  
Insurance Industry ◽  
Sales Promotion ◽  
Insurance Companies ◽  
Company Performance ◽  
Chi Square ◽  
Organizational Growth ◽  
Industry Effect ◽  
The Impact

Purpose: The aim of this study is to investigate how to effect of product branding and sales promotion to an organization growth has its performance. the insurance industry because the growth of this industry is mainly tied to the success of good product brands and sales promotion. However, the organizational performance and increase in profit and revenue should be understood by the content. The study also aims to show focus how to insurance industry effect the performance of slae promotion and product branding. Design/methodology/approach: Survey of insurance companies is to be considered but due to the large number of the operators, the authors chose only one case sample of State Life Insurance which has a larger sales outlet and good number of branches nationwide. A total of 60 field survey questionnaires were distributed while 14 refined. Findings: The data collected and analyzed using the chi-square (x2) method. Conclution: Hence, our conclusions from findings show that product branding and sales promotion affect organizational growth. Originality/value: By reviewing the different finding that the Sale promoton and product branding. The contribution of this paper is to look at how to finding the effective solution of sale promotion and product branding to effect the performance of insurance idustry. Study of paper: The study of this paper is exploratry is qualitative study of research.

Searching Dimensions and Directions for Digital Innovations Within the Insurance Industry

2021 ◽  
Vol 12 (2) ◽  
pp. 63-89
Author(s):  
Heini Hyttinen ◽  
Hannu Kalevi Kivijärvi ◽  
Anssi Öörni
Keyword(s):  
Insurance Industry ◽  
Principal Component ◽  
Knowledge Synthesis ◽  
Insurance Companies ◽  
Process Automation ◽  
Structured Interviews ◽  
Organizational Capability ◽  
Pension Insurance ◽  
Digital Innovation

Discovery of digital innovations is a key organizational capability for sustaining competitive advantage. Despite its importance, discovery of digital innovations is still ill understood. In this paper, the authors seek to provide a theory-based practice for digital innovation discovery. To meet this objective, they source the theories of knowledge and knowledge combination. Data for this case study were collected through semi-structured interviews and a quantitative questionnaire from three pension insurance companies. The data were analyzed by using principal component analysis and by constructing biplots based of the results. Two significant dimensions in the digitalization needs that guide knowledge synthesis were recognized: the importance of adopting the enabler and the volume of resources needed to adopt the enabler. A closer look at the enablers revealed that the most business-critical current digital business enablers for the pension insurance industry are business process automation, online services, and big data.

The Impact of MCAST Apprentices on Insurance Companies Operating in Malta - A Manager’s Perspective

2021 ◽  
Vol 5 (1) ◽  
pp. 127-153
Author(s):  
Joseph Schembri
Keyword(s):  
High Performance ◽  
Insurance Industry ◽  
Learning Experience ◽  
Cost Effective ◽  
Research Problem ◽  
Insurance Companies ◽  
Skilled Workers ◽  
Structured Interviews ◽  
Insurance Firms ◽  
The Impact

This study probes the MCAST insurance apprenticeship scheme and the impact of apprentices on the local insurance companies, acting as sponsors. This study is of particular relevance since the local insurance firms are experiencing growth but have the challenge of employee turnover and skills shortage. This research study investigates the work-based learning experience of students, the mentoring of apprentices and the supervising procedures adopted by MCAST and the insurance firms. The purpose is to analyse the impact of MCAST trainees on local insurance firms and depict practical recommendations to ameliorate the learning experience of the apprentices. The recommendations emanating from this study, assist MCAST to develop high-performance apprenticeship schemes and assist the local insurance industry, in the recruiting and training of young employees. This qualitative research gathers data through nine in-depth, semi-structured interviews and adopts the Grounded Theory Methodology to address the research problem and attain the stated objectives. The researcher adopts the constructivist approach incorporating an inductive and abductive stance. The findings emanating from the data illustrate the need to promote the insurance industry as a provider of stable and fulfilling careers with the possibility of job mobility. MCAST and the insurance firms need to enhance their collaboration to promote the insurance apprenticeship, among young learners, even at secondary level. An overhaul of the mentoring and supervising approach is needed to provide a work-based learning experience of excellence to MCAST apprentices. MCAST apprenticeship is considered by the insurance executives as the best training opportunity to recruit skilled workers and create networks. The scheme is cost effective to the firms and is considered as a long-term investment in human resources. A well-planned strategy to enhance collaboration and share knowledge between the leading VET provider of the Maltese Islands and the insurance industry is required for the benefit of the apprentices who are the future employees of the local insurance firms.

scholarly journals Factors Affecting Employees’ Work Passion in the Thai Insurance Industry

2019 ◽  
Vol 9 (4) ◽  
pp. 168
Author(s):  
Boonthipa Jiantreerangkool ◽  
Wasita Boonsathorn ◽  
Gary N. McLean
Keyword(s):  
Insurance Industry ◽  
Opportunity To Learn ◽  
Personal Characteristics ◽  
Insurance Companies ◽  
Financial Industry ◽  
Structured Interviews ◽  
Factors Affecting ◽  
Executive Managers ◽  
Definition Of ◽  
Work Passion

The objectives of this study were to: 1) identify the perceived definition of staff work passion, and 2) explore perceived factors affecting staff work passion, both in the Thai insurance industry. The study was qualitative, using semi-structured interviews with open-ended questions. Participants were 36 key informants from life and non-life insurance companies in Thailand, including executive managers, middle managers, and staff, selected to maximize variation in responses. The definitions of staff work passion in the Thai insurance industry were comprised of five categories: happiness, pride, goal setting, personal efficacy, and job fit. Seven factors affecting work passion were highlighted: 1) the power of teamwork, 2) great support from leader, 3) work value, 4) challenge and variety of work, 5) supportive company policies, 6) gaining knowledge and opportunity to learn, and 7) providing good service to customers. These findings were incorporated into an employee work passion model adapted from Blanchard’s model. The model showed personal characteristics of individual as meanings of work passion; organization and job characteristics; and organizational role behaviours as factors affecting work passion. The model might apply to similar businesses within the financial industry, e.g., insurance brokerage companies, financial institutions, and stock and securities firms.

scholarly journals The Study of Relationship between Organizational Learning and Organizational Performance

2017 ◽  
Vol 19 (1) ◽  
pp. 164
Author(s):  
Bisotoon Azizi
Keyword(s):  
Organizational Learning ◽  
Data Collection ◽  
Organizational Performance ◽  
Open Space ◽  
Insurance Industry ◽  
Pearson Correlation ◽  
Insurance Companies ◽  
Statistical Population ◽  
System Perspective ◽  
Management Commitment

The aim of this study was to investigate the relationship between organizational learning and organizational performance among companies operating in the insurance industry of Tehran in Iran. The present study is a descriptive one in terms of the purpose and the method of data collection. The statistical population of the study was all insurance companies in the city of Tehran and 120 insurance companies were selected due to the lack of detailed statistical reference to their number. For this purpose, people were asked some questions who it was authorized to represent the name. The questionnaire is a tool for collecting data. The Gomez questionnaire et al. (2005) was used to measure organizational learning which includes four factors: management commitment, system perspective, openness and experimentation, transfer and integration of knowledge. To measure the organizational performance, the Yang et al. questionnaire (2004) is used. To determine the validity of data collection, the questionnaire was presented to six professors of management at various universities. The validity of questionnaire through the coordination of jury was about %100. The reliability of the questionnaire was conducted on thirty subjects, Cronbach alpha coefficient was calculated 0.91 and 0.85 for organizational learning and organizational performance, respectively. For data analysis, Pearson correlation coefficient and multiple regressions were used. The results showed that there is a positive relationship between organizational learning and its four dimensions (management commitment, vision systems, open space, and experimentation, transfer and integration of knowledge) and organizational performance of Tehran insurance companies.

scholarly journals A STUDY ON CUSTOMER PERCEPTION TOWARDS LIFE INSURANCE CORPORATION OF INDIA (WITH SPECIAL REFERENCE TO KUMBAKONAM TOWN)

2021 ◽  
Vol 9 (1) ◽  
pp. 1265-1269
Author(s):  
Dr. T. UNNAMALAI, V. RAJINIKANTH
Keyword(s):  
Customer Satisfaction ◽  
Special Reference ◽  
Life Insurance ◽  
Insurance Industry ◽  
Insurance Companies ◽  
Primary Data ◽  
Chi Square ◽  
Customer Perception ◽  
Chi Square Test

This study shows at how consumers feel towards life insurance companies in Kumbakonam. Since people are becoming more aware of their own mortality and the insurance industry is becoming more competitive, it is important for insurance providers to consider their customers' needs. The primary goal of this research is to determine customer satisfaction with LIC. This research is based on primary data collected via a questionnaire from 150 policyholders in Kumbakonam, and the data was analysed using percentages and the chi-square test to determine the factors that influence customer satisfaction with LIC.

scholarly journals A Traceable Online Insurance Claims System Based on Blockchain and Smart Contract Technology

2021 ◽  
Vol 13 (16) ◽  
pp. 9386
Author(s):  
Chin-Ling Chen ◽  
Yong-Yuan Deng ◽  
Woei-Jiunn Tsaur ◽  
Chun-Ta Li ◽  
Cheng-Chi Lee ◽  
...  
Keyword(s):  
Insurance Industry ◽  
Mutual Authentication ◽  
Medical Insurance ◽  
Security Requirements ◽  
Insurance Companies ◽  
Insurance Company ◽  
Insurance Claims ◽  
Blockchain Technology ◽  
Smart Contract ◽  
Low Efficiency

In the current medical insurance claims process, there are problems of low efficiency and complex services. When a patient applies for medical insurance claims, he/she must go to the hospital to apply for a diagnosis certificate and receipt and then send the relevant application documents to the insurance company. The patient will not receive compensation until the company completes the verification with the patient’s hospital. However, we can improve the current dilemma through blockchain technology. Blockchain technology can effectively open up the information channels of the insurance industry and medical institutions, promote industry integration, and enhance the ability of insurance companies to obtain information. In this research, we used blockchain and smart contract technology to make the following contributions to the development of Internet insurance. First, blockchain and smart contract technology can effectively solve the problem of online underwriting. Second, it is conducive to improving supervision. Third, it is conducive to solving risk control problems. Fourth, it is conducive to effective anti-money laundering. The proposed scheme fulfills the following security requirements: mutual authentication of identities, non-repudiation between each of two roles, and other major blockchain-based security requirements. In the event of a dispute, we also proposed an arbitration mechanism to divide responsibilities.

Managing adversity: understanding some dimensions of organizational resilience

2015 ◽  
Vol 38 (4) ◽  
pp. 346-366 ◽  
Author(s):  
Ihab Hanna Salman Sawalha
Keyword(s):  
Stock Exchange ◽  
Insurance Industry ◽  
Insurance Companies ◽  
Key Factors ◽  
Structured Interviews ◽  
Term Survival ◽  
Content Type ◽  
Insurance Sector ◽  
Quantitative And Qualitative Research ◽  
The Impact

Purpose – This study aims to explore how insurance organisations interpret organisational resilience; to identify potential objectives, elements and practices of organisational resilience within insurance organisations; and to investigate the impact of culture on resilience. Design/methodology/approach – An empirical study in the insurance industry in Jordan was undertaken. The population consists of all 28 insurance companies registered at the Amman Stock Exchange. Data were collected via a survey questionnaire followed by three semi-structured interviews. Findings – Results revealed that respondents understand the meaning of organisational resilience differently. Various factors constitute organisational resilience in Jordanian insurance organisations. Nevertheless, some key factors that have the potential to improve organisational resilience were missing. Culture influenced the level of organisational resilience considerably. Practical implications – This study provides insights into the factors that enable organisations to withstand future risks, which, in turn, ensures long-term survival. It also reveals how culture affects the level of organisational resilience. This paper provides a basis for policymakers in Jordan to start actively considering existing resources and cultural trends to introduce new frameworks for improving resilience in the insurance sector. Originality/value – This study is made in the context of an emerging economy; Jordan. It uses quantitative and qualitative research approaches. It is also one of the few studies to discuss resilience in relation to culture and within the insurance sector.

scholarly journals Fraud and Abuse in the Saudi Healthcare System: A Triangulation Analysis

2020 ◽  
Vol 57 ◽  
pp. 004695802095462
Author(s):  
Wadi B. Alonazi
Keyword(s):  
Health Insurance ◽  
Healthcare System ◽  
Insurance Industry ◽  
Rejection Rate ◽  
Healthcare Services ◽  
Macro Level ◽  
Insurance Companies ◽  
Structured Interviews ◽  
Health Insurance Companies ◽  
Micro Level

In the insurance industry, the majority of fraud and abuse cases fall into a limited number of patterns, yet false claims normally lead to negative national, local, and organizational effects. Through monitoring the exploitative and abusive behavior commonly found in healthcare services, this paper aims to analyze initiatives implemented by governmental and related healthcare insurance agencies in Saudi Arabia to reduce moral offenses. To accomplish this objective, major governmental health insurance policy documents were analyzed at the macro-level. At the meso-level, semi-structured interviews were conducted with five health insurance professionals on measures undertaken to prevent such incidents. At the micro-level, the critical factors of fraudulent behaviors were analyzed using a retrospective analysis. Data were retrieved from anti-fraud records of ten leading health insurance companies and the focus was mainly on individuals involved in unethical practices between 2014 and 2019. After a full audit was completed, the results concluded that the Saudi healthcare system is composed of twenty-six cooperative health insurance agencies and over 5,202 health services providers. The official documents contain the details of various moral hazard measures. On annual average, more than 196 fraudulent cases were reported with a claim rejection rate of approximately 15%. The majority of fraud cases were reported in dental services with invalid card usage, followed by obstetrics-gynecology services (47 and 113 cases, respectively). Females tended to make up most deceit cases in obstetrics-gynecology with a high level of abuse (95% confidence interval: −83.398 to −24.202; P < .003 and −28 > 638 to −7.362; P < .005, respectively). This study ultimately identifies basic measures employed at the macro-level to reduce moral hazards. However, such measures are not intended to be coherently implemented at the micro-level, especially by health insurance companies and healthcare providers.

scholarly journals An empirical study of commerce students (undergraduate and postgraduate) for insurance industry in India

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Ruchi Gupta
Keyword(s):  
Family Income ◽  
Insurance Industry ◽  
Economic Loss ◽  
Insurance Companies ◽  
P Value ◽  
Chi Square ◽  
Content Type ◽  
Career Preference ◽  
Commerce Students ◽  
Career Options

Purpose The purpose of this study is to find out the awareness, attitude and career preference of commerce students (undergraduate (UG) and post-graduate (PG)) for the insurance industry in India. Design/methodology/approach The data were collected from 800 commerce students (400 male students and 400 female students) through a structured questionnaire. The questionnaire had 18 items related to awareness, attitude and career preference for insurance. The reliability of the tool was assessed by Cronbach’s alpha. To establish the relationship between variables, cross-tabulation techniques that involved Chi-square tests were used. The conclusion was drawn based on probability values (p-value) taking the critical as 0.05 (Bivariate). The data was analyzed using SPSS. Findings The results revealed that commerce students-UG and PG were aware of the basics of insurance, irrespective of their gender and family income. The students have a positive attitude toward insurance, but lack awareness regarding career options in the insurance industry. Research limitations/implications This study included only UG and PG commerce students of Allahabad University and its constituent colleges, hence its findings cannot be generalized for the entire country. Practical implications This study can be beneficial to insurance companies in framing their policies as India has a huge young population. There is a need to make the students in higher education aware of the benefits of insurance to cover any unforeseen economic loss and also to make them aware of the career options in the insurance industry. Originality/value The present study bridges the gap between existing studies regarding awareness, attitude and career preference of students with gender and family income. To date, no study has been done to find the awareness and attitude of students toward the insurance industry, neither in terms of their becoming prospective customers nor in terms of career preference.

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