Efficient Hedging as Risk-Management Methodology in Equity-Linked Life Insurance

Abstract Insurance companies are facing major challenges that point to the need for control process and risk management. Risk management in insurance has a direct impact on solvency, economic security, and overall financial stability of insurance companies. It is very important for insurance companies to adequately calculate risks to which they are exposed. Asset liability management (ALM), as an integrated approach to financial management, requires simultaneous decision-making about categories and values of assets and liabilities in order to establish the optimum volume and the ratio of assets and liabilities, with the understanding of complexity of the financial market in which financial institutions operate. ALM focuses on a significant number of risks, whereby the emphasis in this paper will be on interest rate risk which indicates potential losses that may reflect in a lower interest margin, a lower value of assets or both, in terms of changes in interest rates. In the above context, the aim of this paper is to show how to protect from interest rate changes and how these changes influence the insurance market in Montenegro, both from the theoretical and the practical point of view. The authors consider this to be an interesting and very important topic, especially because the life insurance market in Montenegro is underdeveloped and subject to fluctuations. Also, taking into account the fact that Montenegro is a country that has been making serious efforts to join the EU, it is expected that insurance companies in Montenegro will strengthen their financial position in the market even using the ALM traditional techniques, which is shown in this paper.

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Sharia Life Insurance Business and Risk Management Based on Sharia Principles: Regulatory Perspective

Al-Tahrir Jurnal Pemikiran Islam ◽

10.21154/altahrir.v21i2.3041 ◽

2021 ◽

Vol 21 (2) ◽

pp. 395-414

Author(s):

Parmujianto Parmujianto

Keyword(s):

Risk Management ◽

Life Insurance ◽

Qualitative Approach ◽

The Other ◽

Theoretical Contribution ◽

Depth Data ◽

Regulatory Perspective ◽

Insurance Business ◽

Business Entities ◽

Rule Out

Abstract: Sharia life insurance is an agreement between two parties. One is obliged to pay a contribution or premium, and the other must ensure a full guarantee of the insurers. It should undertake the protection of a contingent or uncertain loss based on the contract. This research used a descriptive qualitative approach. It seeks to explore and understand the central phenomenon to obtain in-depth data to reveal the facts on the research object. The theoretical contribution in this study can contribute to the insights about the insurance partnership of ASYKI, Inc. to increase the number of insurance participants. It is expected that people do not have doubts about sharia life insurance in a formal juridical manner related to insurance. The result of the research showed that Asuransi Shariah Keluarga Indonesia ASYKI, Inc Pasuruan Unit's performance is generally good. According to Law No.40 of 2014, its risk management is sharia-oriented. However, it does not rule out individuals who register individually. Still, ASYKI, Inc. Pasuruan Unit provides some solutions. They should register with the ASYKI partners. It opens an opportunity for the polis applicants to easily recognize and apply sharia life insurance without going through business entities or companies that act as intermediaries.الملخص: التأمين على الحياة في الشريعة هو تأمين أو اتفاق بين طرفين يلتزم فيه أحد الطرفين بدفع تراكات أو أقساط والآخر ملزم بتقديم ضمانات كاملة لدافعي الاشتراكات / الاشتراكات / الأقساط إذا حدث شيء ما الطرف الأول أو ممتلكاته وفقًا للاتفاق المبرم. النهج المستخدم في هذه الدراسة هو نهج وصفي نوعي. يسعى هذا النهج إلى استكشاف وفهم الظاهرة المركزية من أجل الحصول على بيانات متعمقة لكشف الحقائق التي حدثت في موضوع البحث. يمكن أن تساهم المساهمات النظرية في هذه الدراسة في المعرفة حول شراكة التأمين لـ PT. ASYKI في زيادة عدد المشاركين في التأمين. من الناحية العملية حتى لا يساور الناس شك حول التأمين الشرعي على الحياة ، سواء من الناحية القانونية أو الرسمية المتعلقة بالتأمين .وقد أظهرت نتائج هذه الدراسة أن PT. تعتبر وحدة ASYKI Pasuruan للتأمين الشرعي للأسرة الإندونيسية بشكل عام جيدة ووفقًا للقانون رقم 40 لعام 2014 في إدارة إدارة المخاطر على أساس مبادئ الشريعة الإسلامية ، على الرغم من أنه من الممكن للأفراد التسجيل بشكل فردي ، وهو الحل الذي تقدمه PT. يجب أن تسجل وحدة ASYKI Pasuruan بوالص التأمين الموجهة بشكل فردي إلى أحد الشركاء الذين يعملون مع PT. سيفتح ASYKI وفي المستقبل فرصًا لمسجلي السياسة الفردية بحيث يكون الجمهور أكثر حرية في التعرف على التأمين على الحياة وتطبيقه وفقًا للشريعة بسهولة دون الحاجة إلى المرور عبر كيان تجاري أو شركة تعمل كوسيط. Abstrak: Asuransi jiwa syari’ah merupakan pertanggungan atau perjanjian antara dua belah pihak yangmana pihak satu berkewajiban membayar kontribusi atau premi dan yang lainnya memiliki kewajiban memberikan jaminan sepenuhnya kepada pembayar iuran/kontribusi/premi apabila terjadi sesuatu yang menimpa pihak pertama atau barang miliknya sesuai dengan perjanjian yang sudah dibuat. Pendekatan yang digunakan dalam penelitian ini adalah pendekatan kualitatif deskriptif. Pendekatan ini berusaha mengekplorasi dan memahami gejala sentral agar mendapatkan data yang mendalam guna mengungkapkan fakta yang terjadi pada objek penelitian. Kontribusi teoritis dalam penelitian ini dapat memberikan sumbangsih ilmu pengetahuan tentang kemitraan asuransi PT. ASYKI dalam menambah jumlah peserta asuransi. Adapun secara praktis agar masyarakat tidak memiliki keraguan mengenai asuransi jiwa shariah, baik secara yuridis formal yang berhubungan dengan perasuransian. Hasil dari penelitian ini bahwa PT. Asuransi Shariah Keluarga Indonesia ASYKI Unit Pasuruan secara umum dan keseluruan sudah baik dan sesuai dengan UU No.40 Tahun 2014 dalam pengelolaan manajemen resiko sudah berdasarkan prinsip shariah, meskipun tidak menutup kemungkinan ada individu yang mendaftarkan diri secara perorangan, namun solusi yang ditawarkan dari pihak PT. ASYKI Unit Pasuruan hendaknya pendaftar poli asuransi secara individu di arahkan pada salah satu mitra yang bekerja sama dengan PT. ASYKI dan ke depannya akan membuka peluang bagi pendaftar polis secara perorangan sehingga masyarakat lebih leluasa untuk mengenal dan menerapkan asuransi jiwa shariah dengan mudah tanpa harus melalui badan usaha atau perusahaan yang menjadi perantara.

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The contribution of foresight to improve long-term security planning

foresight ◽

10.1108/fs-08-2017-0045 ◽

2018 ◽

Vol 20 (1) ◽

pp. 68-83 ◽

Cited By ~ 2

Author(s):

Sissel Haugdal Jore ◽

Inger-Lise Førland Utland ◽

Victoria Hell Vatnamo

Keyword(s):

Risk Management ◽

Planning Process ◽

Terrorist Attack ◽

Black Swan ◽

Security Risk ◽

Content Type ◽

Security Planning ◽

Risk Management Methodology ◽

Security Risk Management

Purpose Despite the common focus on studying future events, the study of risk management and foresight have developed as two segmented scientific fields. This study aims to investigate whether current risk management methodology is sufficient for long-term planning against threats from terrorism and other black swan events, and whether perspectives from foresight studies can contribute to more effective long-term security planning. Design/methodology/approach This study investigates the planning process of the rebuilding of the Norwegian Government Complex destroyed during a terrorist attack in 2011. The study examines whether security risk managers find current security risk management methodology sufficient for dealing with long-term security threats to the Norwegian Government Complex. Findings Current security risk management methodology for long-term security planning is insufficient to capture black swan events. Foresight perspectives could contribute by engaging tools to mitigate the risk of these events. This could lead to more robust security planning. Originality/value The main contribution of this paper is to investigate whether perspectives and methodology from foresight studies can improve current security risk management methodology for long-term planning and look for cross-fertilization between foresight and risk studies. A framework for scenario development based on security risk management methodology and foresight methodology is proposed that can help bridge the gap.

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Problem Solving and Risk Management Methodology

Advances in Logistics, Operations, and Management Science - Handbook of Research on Management Techniques and Sustainability Strategies for Handling Disruptive Situations in Corporate Settings ◽

10.4018/978-1-7998-8185-8.ch018 ◽

2021 ◽

pp. 378-395

Author(s):

Esmeralda Andrade Hernández ◽

Gregorio Fernández-Lambert ◽

David Lara Alabazares ◽

Yesica Mayett Moreno ◽

Laurent Geneste

Keyword(s):

Risk Management ◽

Problem Solving ◽

Knowledge Base ◽

Continuous Improvement ◽

Management Problem ◽

Current Event ◽

The Past ◽

Risk Management Methodology ◽

Past Experiences ◽

A Current

Intending to lead organizations to continuous improvement, this chapter proposes a methodology that involves three axes: risk management, problem- solving, and feedback experience. This methodology allows organizations to characterize the experiences they have already confronted, as well as new experiences (which can be risks or problems) with the use of taxonomies established by the organization. It also enables them to capitalize and exploit their knowledge base. This work proposes a best-use approach of the past experiences that are similar to a current event and facilitate their treatment and provide solutions. The authors take the feedback as a point of articulation between the two methodologies because it is a mechanism that offers knowledge where it can be found that the organizations must avoid and take advantage of.

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Method over Mayhem in Managing e-Commerce Risk

Ethical Issues of Information Systems ◽

10.4018/978-1-931777-15-5.ch008 ◽

2011 ◽

pp. 107-119

Author(s):

Dieter Fink

Keyword(s):

Information Technology ◽

Risk Management ◽

Critical Success Factors ◽

Success Factors ◽

Literature Survey ◽

Critical Success ◽

Risk Management Methodology ◽

Management Approaches ◽

Operational Aspects ◽

Technology Systems

Under the system of e-commerce, organisations leave themselves open to attack which can have catastrophic consequences. Recent well-publicised business disruptions to firms such as Northwest Airlines and Ebay have had significant business impacts. The chapter identifies the differences in risk management approaches for older information technology systems and those required for e-commerce. The benefits and the critical success factors for an e-commerce risk management methodology are identified and discussed. A literature survey revealed the existence of only two methodologies with potential suitability for e-commerce risk management. They are evaluated against the critical success factors. The chapter recommends a program of research to make risk management more dynamic and interactive particularly for the operational aspects of e-commerce.

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Environmental and transport risk management: methodology, features, classification, impact tools

IOP Conference Series Materials Science and Engineering ◽

10.1088/1757-899x/918/1/012196 ◽

2020 ◽

Vol 918 ◽

pp. 012196

Author(s):

Anna Badalova ◽

Valeryi Larionov ◽

Kirill Moskvitin ◽

Maria Barbashova ◽

Yulia Vertakova

Keyword(s):

Risk Management ◽

Risk Management Methodology

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