Pengaruh Premi, Risiko, Kualitas Pelayanan Islami terhadap Minat Menjadi Nasabah Asuransi Prudential Syariah Bogor

In the current era of globalization, the insurance world in Indonesia is experiencing very sharp competition between insurance companies and makes the company the most superior. The company's competition is not except for insurance service companies. Every insurance company hopes to achieve its goals, grow every year, and achieve success. This success can come from affordable insurance premiums, minimal risk and good service quality. This study aims to see the effect of premium, risk and quality of Islamic services on interest in becoming a customer at Prudential Syariah Bogor Insurance. The method used in this study is a quantitative method. The population in this study is the Bogor Sharia Prudential Insurance customers with a sample of 80 respondents. The data analysis method used is SEM-PLS. research results show that: 1) The premium variable has a positive and significant effect on interest in becoming a customer, 2) The risk variable has a positive but not significant effect on interest in becoming a customer, 3) Islamic service quality variable has a positive and significant effect on interest in becoming a customer. For Prudential Syariah Bogor Insurance can conduct research and risk measurement for the development of insurance products so that they can offer insurance products that facilitate a wider variety of risks, the greater the public's desire to use insurance services.

How Much We Gain by Surplus-Dependent Premiums—Asymptotic Analysis of Ruin Probability

In this paper, we generate boundary value problems for ruin probabilities of surplus-dependent premium risk processes, under a renewal case scenario, Erlang (2) claim arrivals, and a hypoexponential claims scenario, Erlang (2) claim sizes. Applying the approximation theory of solutions of linear ordinary differential equations, we derive the asymptotics of the ruin probabilities when the initial reserve tends to infinity. When considering premiums that are linearly dependent on reserves, representing, for instance, returns on risk-free investments of the insurance capital, we firstly derive explicit solutions of the ordinary differential equations under considerations, in terms of special mathematical functions and integrals, from which we can further determine their asymptotics. This allows us to recover the ruin probabilities obtained for general premiums dependent on reserves. We compare them with the asymptotics of the equivalent ruin probabilities when the premium rate is fixed over time, to measure the gain generated by this additional mechanism of binding the premium rates with the amount of reserve owned by the insurance company.

Rejection of Accident Insurance Claims by Insurance Companies

Insurance is a form of compensation for the occurrence of uncertain risks and the delegation of responsibility to bear those risks. The event of this risk is uncertain because it depends on uncertainty. The transfer of risk is carried out by making an insurance agreement or insurance agreement. The first party is usually referred to as the insured. The second is the party willing to accept the risk of the first party by accepting a payment called a premium. Risk takers are often referred to as insurance companies. The research method used in this study uses a legal approach research method (statute approach) and a conceptual approach (conceptual approach). Based on the results of this study, the researcher states that the basis or cause of the rejection of an insurance agreement is because the insurance agreement is a conditional agreement, where the insurer only bears the loss suffered by the insured party following the terms of the event that resulted in the loss to the insured as agreed, by the parties in the insurance agreement. Or the insured party does not carry out its obligations to pay premiums to the insurer. The legal remedy that the insured party can take if the insurer rejects the claim is to file a lawsuit at the local District Court, as regulated in Article 23 of Law no. 8 of 1999. It can be completed through the BMAI institution.Keywords: Insurance, Claim, Dispute Resolution.

Steadiness of expectation theory measured by swaption curve

The financial crisis that broke out in mid-2007 has spread in the existing financial system with great instability favoring the devaluation of currencies with the fall in market interest rates. This has caused potential investors to become more risk-averse and therefore, look for financial products, although lower profitability, also poses less risk. Following this line, it is the Fixed Income assets that have acquired greater prominence in these times of crisis. This article highlights the strength of the expectation theory in different tranches, using EURIBOR rate to determine implicit forwards, and estimate the price of a one-year swap contract with 3 months of maturity, and comparing in every moment with the real prices of swap as a benchmark. SWAP is the bigger derivative inside of the group of Fixed Income Assets. After the quantitative analyst, it has been observed how the theory prevails of sceneries of low volatility but falls on sceneries when the volatility starts to increase. Introduction. One of the basic assumptions about financial theory is talking about the expectations theory. Since the middle of the eighties, this theory has been used as the unbiased estimator to calculate the swap interest rate in the base of the spot bank interest rate. Aim. Quantitativa analyst of the steadiness of expectations theory in differents economical cycles, using the European Central bank as the source to get hold of the EURIBOR spot rates for 3 months, 6 months, 9 months, and 12months from 2004 to 2016. Results. During the periods before the crisis 2007, the prices of the IRSWAP are almost adjusted between the market and what the financial theory says. The situation starts to change after the financial crisis when the volatility of the market starts to increase due to the instability of the banking sector and traders started with speculations strategies forgetting the aim of hedging, operating, new positions the majority in the short term. Conclusion. Whether for speculative reason or interventions actions of the monetary authority, the theory e “EXPECTATIONS THEORY”, it is not an efficient predictor with out using a premium risk, during the periods of high volatility.

Three essays on innovation, corporate control and household consumption-based asset pricing

We propose a novel consumption measure that has a daily frequency and is based on real time shopping data. Our measure explains the joint equity-premium‚ risk-free rate puzzle with a risk aversion coefficient much lower than any other consumption measures. It explains the cross-sectional variation of expected returns on various portfolios and is the only consumption measure that passes Kleibergen and Zhan (Journal of Finance, 2020) robust tests. Our model decomposes consumption shocks into different frequencies of volatility and shows that ignoring short-term dynamics and intra-annual fluctuations explains the much higher risk aversion from low-frequency consumption measures. At zip-code level daily consumption, (a) consumption in blue areas suggests higher risk aversion than that in red areas; (b) only Democratic consumption beta explains a variation of cross-sectional returns, and is more sensitive to overall industry performance.

Estimating the Volatility of Non-Life Premium Risk Under Solvency II: Discussion of Danish Fire Insurance Data

We studied the volatility assumption of non-life premium risk under the Solvency II Standard Formula and developed an empirical model on real data, the Danish fire insurance data. Our empirical model accomplishes two things. Primarily, compared to the present literature, this paper innovates the fitting of Danish fire insurance data using a composite model with a random threshold. Secondly we prove, by fitting the Danish fire insurance data, that for large insurance companies the volatility of the standard formula is higher than the volatility estimated with internal models such as composite models, also taking into account the dependence between attritional and large claims.

COUNTRY-RISK PREMIUM IN THE PERIPHERY AND THE INTERNATIONAL FINANCIAL CYCLE 1999-2019

<p>In the context of the pull-push debate on the weight that external or internal factors have on the behavior of capital flows, this article aims to empirically assess the extent to which the push factors linked to global liquidity determine the changes in the risk premium of a set of countries of the periphery in the period 1999-2019. We also test for a structural change in the premium risk series in 2003. We find that push factors play a predominant role (compared to pull factors) in explaining country-risk spreads changes in our selected set of peripheral countries and that there was indeed a substantial general reduction in country-risk premia after 2003. The results are in agreement both with the view that cycles in peripheral economies are subordinated to global financial cycles and also that such global conditions substantially improved compared to the 1990s. </p><p><strong> </strong></p><p align="center">PRIMA DE RIESGO PAÍS EN LA PERIFERIA Y EL CICLO FINANCIERO INTERNACIONAL 1999-2019</p><p align="center"><strong>RESUMEN</strong><strong></strong></p><p>Considerando el debate <em>pull-push</em> sobre la influencia de los factores externos o internos en el comportamiento de los flujos de capital, el objetivo de este artículo es analizar empíricamente el grado en que los factores externos vinculados a la liquidez global afectan los cambios en la prima de riesgo de un conjunto de países de la periferia durante el periodo 1999-2019. También examinamos un cambio estructural en la serie de riesgo de primas en 2003. Así, encontramos que los factores externos desempeñan un papel predominante (en comparación con los factores específicos de cada país) en la explicación de los cambios de riesgo país en los países periféricos seleccionados y que, efectivamente, existió una reducción general sustancial en las primas de riesgo país después de 2003. Los resultados están en línea con la visión de que los ciclos en las economías periféricas están subordinados a los ciclos financieros mundiales y, además, que las condiciones externas han mejorado sustancialmente en comparación con la década de 1990.</p>

ONE-YEAR PREMIUM RISK AND EMERGENCE PATTERN OF ULTIMATE LOSS BASED ON CONDITIONAL DISTRIBUTION

We study the relation between one-year premium risk and ultimate premium risk. In practice, the one-year risk is sometimes related to the ultimate risk by using a so-called emergence pattern formula which postulates a linear relation between both risks. We define the true emergence pattern of the ultimate loss for the one-year premium risk based on a conditional distribution of the ultimate loss derived from a multivariate distribution of the claims development process. We investigate three models commonly used in claims reserving and prove that the true emergence pattern formulas are different from the linear emergence pattern formula used in practice. We show that the one-year risk, when measured by VaR, can be under and overestimated if the linear emergence pattern formula is applied. We present two modifications of the linear emergence pattern formula. These modifications allow us to go beyond the claims development models investigated in the first part and work with an arbitrary distribution of the ultimate loss.