Modeling of Motor Insurance Extreme Claims through Appropriate Statistical Distributions

In the area of insurance, probability modeling has a wide variety of applications. In life insurance, the compensation sum is calculated in advance and may often be estimated using actuarial techniques, while in motor insurance, the claim amount is generally not known in advance. In the insurance business, the improvement of actuarial risk control strategies is an essential technique for controlling insurance risk. Although an insurance company’s risk assessment about its solvency is a complex and detailed problem, its solution begins with statistical modeling of individual claims’ amounts. This article emphasizes the possible ways of obtaining a suitable probability distribution model that accurately explains insurance risks and how to use such a model for risk management purposes. For this reason, we have applied modern programming techniques and statistical software implemented the methods provided based on data on premium amounts of third-party motor insurance claims.

A practitioners approach to individual claims models for bodily injury claims in german non-life insurance

The aim of our paper is to discuss the difficulties non-life actuaries are currently facing from a practical point of view. Based on this, we show that individual claims models are the key to address these difficulties and discuss how such models give actuaries a new and very powerful tool to explore further fields of application. Moreover, we address a very essential question: What data is needed for developing individual claims models? For bodily injury claims in German motor liability insurance, we shall derive specific attributes based on a detailed discussion of the legal background. All our ideas are based on practical experience for a large German motor insurance portfolio.

Pengaruh Strategi Positioning terhadap Keputusan Pembelian Produk Asuransi Jiwasraya

The purpose of this study is to identify and analyze the effect of product positioning strategy, price and service on consumer purchasing decisions on life insurance. This research is a library research. This research is a type of research that tries to collect data from literature studies. The first step of this research is to collect and study data from the same research by previous researchers . The results of this study indicate that products, prices and services have a significant effect on consumers' purchasing decisions on life insurance. The positioning strategy in making the decision to purchase life insurance products is positive. The company determines its target market, which includes all consumers as a whole. Meanwhile, the company's positioning strategy always prioritizes the interests of consumers, affordable product prices, and provides benefits. Keywords: Positioning strategy, Purchase decision, Influence

Implementation of Ex-Gratia Claim Payment in Insurance Agreement

This study aims to explain descriptively about the implementation of ex-gratia claims on life insurance agreements, how to pay and settle ex-gratia claims and ex-gratia claim terms. In the Life Insurance agreement, the insured party when experiencing an unexpected risk of obtaining its rights in the settlement of claims. The occurrence of rejection of claims on life insurance, becomes the cause of a lack of understanding of the actual articles and regulations must be understood before deciding to use insurance. In fact, not all losses suffered by the insured in the insurance agreement can be paid according to the agreement. It is caused by several factors that are considered to violate the principles of insurance and regulations that have been determined in the insurance agreement, resulting in the cancellation of the insurer pays its obligations to the insured or commonly called rejected claims. But customers sometimes still demand that the company pay, therefore the insurance company takes the initiative to pay claims rejected through Ex-gratia. But many people do not know about the ex-gratia claim. Some insurers take the initiative to pay ex-gratia rejected claims. Implementation of ex gratia claims can be done by negotiation, good faith from the insurer to the insured. Received: 15 October 2021 / Accepted: 30 November 2021 / Published: 5 January 2022

Accountability answers company insurance life based investing against the risk of failure to pay for policyholders

The problem of this research is how to regulate investment-based life insurance in Indonesia and the liability of investment-based life insurance companies against the risk of default by policyholders. This study uses a research method that has an empirical juridical type. The study results explain that the regulation of investment-based life insurance in Indonesia is regulated in Law Number 40 of 2014 concerning Business Per Insurance, OJK Regulation Number 23/POJK.05/2015 concerning Insurance Products and Marketing and Decree of the Chairman of BPPM and Financial Institutions Number KEP-104/ BL/2006 concerning Investment-based life insurance products. PP Number 87 of 2019 concerning insurance companies in the form of joint ventures, RI's Financial Decree Number 422/KMK.06/2003 and Director General of Financial Institutions Decree Number 2475/LK concerning investment insurance products and forms of liability of default insurance companies must fulfill the contents of the agreement insurance that gives rise to the rights and obligations of the insured reciprocally. However, Law Number 40 of 2014 concerning Insurance Business does not fully regulate violations in the insurance business and does not regulate how the insurance company is responsible for the company's inability to fulfill insurance claims.

Strategi Komunikasi Pemasaran Produk Unit Link PT Asuransi Jiwa Manulife untuk Menarik Minat Calon Nasabah

This journal contains the communication strategy of Unit Link Product Marketing of PT. Manulife Life Insurance to Attract Prospective Customers which is focused on the steps in describing the strategy undertaken by PT. Manulife in increasing the number of its customers. The research method is descriptive qualitative method with data analysis techniques Interactive Model Matthew B. Miles and A. Michael Huberman. The results of the study obtained an illustration that in the communication strategy of Unit Link Product Marketing of PT. Manulife Life Insurance to Attract Prospective Customers by prioritizing two-way communication to customers to sell their products in order to give influence, confidence, and actions taken as encouragement can be seen by using steps in developing effective marketing communications to achieve goals that have been established and can be implemented properly. Keywords: Communication, Communication Strategy, Marketing, Manulife Life Insurance, Interests.