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Dissertations / Theses on the topic 'Insurance companies'
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Yu, Kok-leung. "A study of the rising roles of China state-owned and other Chinese capital insurance companies in the insurance market of Hong Kong and how insurance companies can survive this impact /." Hong Kong : University of Hong Kong, 1998. http://sunzi.lib.hku.hk/hkuto/record.jsp?B19872240.
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Kwong, Sze-ki Louis. "A study of the profits of local general insurance companies /." [Hong Kong : University of Hong Kong], 1987. http://sunzi.lib.hku.hk/hkuto/record.jsp?B12335319.
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Msheliza, Samuel Kaku. "Strategic planning in Nigerian insurance companies." Thesis, University of Nottingham, 1991. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.281062.
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Hong, Wu. "Essays on insurance economics /." Göteborg : Nationalekonomiska institutionen, Handelshögsk, 2002. http://www.handels.gu.se/epc/data/html/html/2058.html.
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Chow, Kong-shing. "A study of the corporate strategy of insurance industry in Hong Kong /." Hong Kong : University of Hong Kong, 1998. http://sunzi.lib.hku.hk/hkuto/record.jsp?B19876531.
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Mutenga, Stanley. "Risk management for property casualty insurance companies." Thesis, City University London, 2001. http://openaccess.city.ac.uk/7600/.
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This thesis addresses the need to reduce inefficiencies in management of insurance company risk capital. The laxity in managing the cost of capital is a result of dysfunctional property/casualty risk classification and capital accumulation practices in the insurance industry. We reclassify risk based on both peril and financial functional features, in order to capture all the facets of risk affecting a firm and ultimately to achieve optimal capital allocation. With the purpose of reducing inefficiencies in mind, we explore and isolate the impact of regulation on insurance company profitability. We use barrier option pricing models to mimic the impact of solvency requirements on firm-wide risk. This methodology of measuring risk is better than plain vanilla option pricing models, in that, through the option to an early default, we are able to capture the economic significance of financial distress, and allocate firm-wide risk capital. The firm-wide risk is incidentally used to empirically test the impact of risk on the cost of carry, the quality of operational profitability and forward asset commitment per unit of liabilities. Our empirical test confirms a strong relationship between firm-level risk, and the cost of carry, return on policyholders' surplus and the cost of capital per contract underwritten. The results are better than previous results obtained using plain vanilla option-pricing models and reveal the importance of incorporating solvency requirements in defining the economic significance of insolvency. The results also points to the importance of advised risk classification procedures to the whole process of integrated risk measurement and financing, which we explore in this study.
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Siokis, Vasilios. "Risk measurement and management of insurance companies." Thesis, City University London, 2001. http://openaccess.city.ac.uk/8400/.
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This thesis reviews some fundamental risk measurement and management concepts that insurance companies will face in the following years. The first chapter evaluates the theoretical and practical framework of the different approaches with respect to the determination of regulatory capital held by insurance companies. A critical assessment and substantial interpretation of these approaches is performed. Moreover, a number of new approaches is brought forward in order to add a more thorough and clear way of evaluating the level of the regulatory capital. Then, we provide evidence of the presence of the underwriting cycle in the UK. The underwriting cycle has been identified in a number of OECD and non-OECD countries and highlights the different stages and maturity of the insurance market. A number of reasons for the presence of this cycle is presented and evaluated in contrast with the reasons behind the underwriting cycle in other countries. The level of profitability of the insurance companies is used to determine the presence of the cycle. In the third chapter, profitability and cost of capital are connected with the credit rating assigned by credit agencies to insurance companies. The credit risk that insurance companies face is explained by the use of financial ratios that explicitly explain the particular credit rating. The credit rating is implicitly connected with the cost of capital, which in turn is explained by the level of the credit spread between the Treasury Yield and European bonds. Finally, securitisation as an alternative method of minimizing credit and market risk is analyzed. Different structures of securitised deals are presented and evaluated. The benefits of securitisation are presented in a systematic way.
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Rufelt, Pontus. "Investment Opportunities for Swedish Life Insurance Companies." Thesis, KTH, Matematisk statistik, 2016. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-193945.
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Since the new risk sensitive regulation Solvency II was enabled the 1st of January 2016 the European insurance companies have to review their investment strategies. Insurance companies are among the largest institutional investors in Europe holding EUR 6.7 trillion assets, thus major changes in their asset management can impact the capital markets. To investigate how the investing opportunities have changed for life insurance companies, a representative Swedish life insurance company with an occupational pension portfolio was simulated for thirty years. This was made by first simulating the money market, bonds, equities and real estate for the simulated time by a stochastic multivariate process. Using Modern Portfolio Theory the portfolio weights was constructed for the financial asset portfolios for the model of the company. To determine future liabilities a representative ITP 2 pension portfolio was modelled where the pension policies was priced using traditional life insurance pricing theory in continuous time. For the company to be representative actuarial assumptions and as well as a consolidation policy was constructed in line with the major traditional life insurance companies in Sweden. The simulations of the company resulted in monthly cash flows, development of life insurance mathematical functions and the solvency capital requirements. The solvency capital requirement by Solvency II was calculated by applying the standard formula handed by EIOPA, where for life insurance companies the market risk module dominates in contribution to the capital requirement. By comparing the new risk sensitive capital requirement with the solvency capital requirement by the old regulations a change of structure dependent on time and asset allocation was observed. The Solvency II capital requirement for life insurance companies is clearly more dependent on the financial asset strategy for the company whereas the old capital requirement is not. The structure of the new capital requirement follows the same structure as the solvency market risk module where it is clear that low risk portfolios does not necessarily correspond to a lower capital requirement. The conclusion of this thesis is that life insurance companies in Sweden have tightened financial investing opportunities. This is due to Solvency II since this regulation is more risk sensitive than the old regulation.Sedan det nya riskkänsliga regelverket Solvens II trädde i kraft den första januari 2016 behöver europeiska försäkringsbolag se över sin investeringsstrategi för finansiella tillgångar. Försäkringsbolag är bland de största finansiella investeringsinstituten i Europa med ett innehav om 6,7 biljoner euro och i och med detta kan stora förändringar i försäkringsbolagens tillgångsallokering påverka kapitalmarknaden. För att undersöka hur investeringsmöjligheterna har förändrats för livförsäkringsbolag simulerades ett svenskt fiktivt och representativt livförsäkringsbolag med en tjänstepensionsportfölj trettio år framåt i tiden. Först simulerades penningmarknaden, obligationer, aktier och fastighetsmarknaden trettio år med en multivariat stokastisk process. Genom att tillämpa modern portföljteori konstruerades portföljvikter för de simulerade finansiella tillgångarna för bolaget. För att modellera framtida skulder för bolaget konsturerades en representativ ITP 2 tjänstepensionsportfölj där pensionskontrakten prissattes med hjälp av traditionell prissättningsteori för livförsäkringar i kontinuerlig tid. Aktuariella antaganden och en konsolideringspolicy konsturerades i linje med de största traditionella livförsäkringsbolagen i Sverige för att konsturea en representativ portfölj. Simuleringarna av bolaget resulterade I kassaöden och utvecklingen av livförsäkringsmatematiska funktioner månadsvis samt solvenskapitalkravet årsvis. Solvenskapitalkravet beräknades med standardformeln erhållen av EIOPA där modulen för marknadsrisk dominerar i bidraget till kapitalkravet. Genom att jämföra det nya riskkänsliga kapitalkravet med solvenskapitalkravet baserat på tidigare regelverk observerades en skillnad i struktur beroende på tid och tillgångsallokering. Storleken på Solvens II-kapitalkravet för livförsäkringsbolag är mer beroende på den finansiella tillgångsstrategin för bolagen medan detta inte är fallet för Solvens I-kapitalkravet. Strukturen på det nya kapitalkravet följer samma struktur som modulen för marknadsrisk där det observerades at lågriskportföljer nödvändigtvis inte motsvarar ett lägre kapitalkrav för livförsäkringsbolaget. Slutsatsen av projektet var att utrymmet för investeringsmöjligheter för svenska livförsäkringsbolag har förminskats. Detta är på grund av införandet av Solvens II då regelverket är mer riskkänsligt än tidigare regelverk.
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Von, Wielligh S. P. J. "The development of a best practice framework for the formulation of overall audit strategies for insurance contracts and the related earnings of listed South African long-term insurers /." Link to the online version, 2005. http://hdl.handle.net/10019.1/1103.
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Le, Roux Magdalena Elizabeth. "Captive insurance companies : a theoretical and empirical study." Thesis, Stellenbosch : Stellenbosch University, 2003. http://hdl.handle.net/10019.1/53319.
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Thesis (MComm)--Stellenbosch University, 2003.ENGLISH ABSTRACT: Much research has been done on risk coverage within the field of the traditional insurance market, but the concept of alternative risk transfer is fairly new to the world of risk management. The need for more innovative, multi-faceted approaches to meet possible losses, together with the growing resistance to the cross-subsidisation inherent in traditional insurance, has initiated the development of the captive insurance industry as an alternative risk transfer mechanism. The objective of this research was to study the application of captive insurance as a risk management mechanism for managers. The objective comprised a modelling approach for managers to handle the strategic implications of establishing and operating a captive insurer. The tasks that were required for this assignment were as follows: • The completion of a literature study of the basic theory available on captive insurance as an internal risk financing mechanism for management; • The collection of relevant empirical information on the subject by means of questionnaires, which had to be based on the literature study; • The critical analysis of the collected data; and • The development of a decision-making model based on the outcome of the available information, that could provide a practical guideline for management to decide on the establishment and operation of a captive insurer. Twenty-five questionnaires were sent out during February 2003 to cover all the registered onshore and cell captive insurance companies in South Africa. Offshore insurance companies could not be included in this study due to article 33 of the Reserve Bank's Act no. 90 of 1989 regarding confidential information. Of the 25 captive insurance companies, 21 companies completed the questionnaires, and three respondents declared that they did not perform captive insurance activities anymore. A response rate of over 95 per cent is therefore achieved. The information obtained from the questionnaires was summarised on a SPSS spreadsheet and subjected to a statistical analysis to form the bases for the empirical investigation. The results of the empirical study for onshore and cell captive insurers leads to conclusions regarding the importance of the objectives needed for establishing and operating the captive Insurer. The three most importantfactors which should determine the decision of a holding company to establish an onshore captive insurer were identified as the financial commitment of the holding company, the spreading of the risks of the holding company, and the retention capacity of the holding company. The three most importantfactors which should determine the decision of a holding company to operate an onshore captive insurer are the retention capacity of the holding company, the financial commitment of the holding company, and the management commitment of the holding company. The three most importantfactors which should determine the decision of a holding company to establish a cell captive insurer were identified as the spreading of the risks of the holding company, the retention capacity of the holding company, and the financial commitment of the holding company. The three most importantfactors which should determine the decision of a holding company to operate a cell captive insurer are the financial commitment of the holding company, the spreading of the risks of the holding company, and the management commitment of the holding company. A decision-making model for both onshore and cell captive insurers was developed as a tool for risk managers when deciding on the establishment and operation of a captive insurer as part of their risk management programme. The resulting conclusions and recommendations of this assignment are largely based on the personal viewpoints of the captive insurers active in the South African captive insurance industry. It is therefore recommended that future research also includes the role and views of the holding companies.
AFRIKAANSE OPSOMMING: Heelwat navorsing is alreeds oor die tradisionele versekeringsmark ten opsigte van risikodekking gedoen, maar die konsep van alternatiewe risiko-oordrag is nog redelik nuut in die vakgebied van die risikobestuur. Die behoefte aan meer innoverende multivlak benaderinge om moontlike verliese te beperk, tesame met die toenemende weerstand teen kruissubsidiëring inherent aan tradisionele versekering, het tot die ontwikkeling van die gebonde (gevange) versekeringsbedryf as 'n wyse van alternatiewe risiko-oordrag gelei. Die doelstelling van hierdie navorsing was om die toepaslikheid van gebonde versekeraars as 'n risikobestuursmeganisme vir bestuurders te bestudeer. Die doelstelling omsluit 'n modelboubenadering vir bestuurders om die strategiese implikasies van die stigting en bedryf van 'n gebonde versekeraar te beheer. Die voortvloeiende take van die werkstuk is soos volg: • Die voltooiing van 'n literatuurstudie van die basiese teorie wat oor gebonde versekering, as 'n wyse van interne risikofinansiering vir bestuur beskikbaar is; • Die versameling van relevante empiriese inligting oor die onderwerp deur middel van vraelyste wat op die literatuurstudie gebaseer is; • 'n Kritiese ontleding van die versamelde inligting; en • Die ontwikkeling van 'n besluitnemingsmodelop grond van die resultate van die beskikbare inligting wat as 'n praktiese gids vir bestuur kan dien met betrekking tot besluitingneming oor die stigting en bedryfvan 'n gebonde versekeraar. Vyf en twintig vraelyste is gedurende Februarie 2003 gepos om al die geregistreerde binnelandse gebonde versekeringsmaatskappye, asook gebonde versekeringsmaatskappye wat uit verskillende selle bestaan ("cell captive insurance companies"), in Suid-Afrika te bereik. Buitelandse gebonde versekeringsmaatskappye kon nie deel van hierdie studie vorm nie vanweë artikel 33 van die Reserwebank se Wet nr. 90 van 1989 insake vertroulike inligting. Van die 25 gebonde versekeringsmaatskappye het 21 maatskappye die vraelyste voltooi en drie respondente het aangedui dat hulle nie meer by die aktiwiteite van gebonde versekering betrokke was nie. 'n Reaksiekoers van meer as 95 persent is gevolglik behaal. Stellenbosch University http://scholar.sun.ac.za Die inligting vanuit die vraelyste is opgesom deur middel van 'n SPSS-sigblad en 'n aantal statistiese ontledings is gedoen, wat die basis van die empiriese studie gevorm het. Die resultate van die empiriese studie ten opsigte van binnelandse gebonde versekeraars, asook gebonde versekeraars wat uit verskillende selle bestaan, het tot gevolgtrekkings gelei met betrekking tot die belangrikheid van die verlangde doelstellings vir die stigting en bedryf van gebonde versekeraars. Die drie belangrikste faktore wat die besluitneming van 'n houermaatskappy behoort te beïnvloed om 'n binnelandse gebonde versekeraar te stig, is geïdentifiseer as die finansiële verbintenis van die houermaatskappy, die spreiding van die risiko's van die houermaatskappy en die retensiekapasiteit van die houermaatskappy. Die drie belangrikste faktore wat die besluitneming van 'n houermaatskappy behoort te beïnvloed om 'n binnelandse gebonde versekeraar te bedryf, is geïdentifiseer as die retensiekapasiteit van die houermaatskappy, die finansiële verbintenis van die houermaatskappy en die bestuursverbintenis van die houermaatskappy. Die drie belangrikste faktore wat die besluitneming van 'n houermaatskappy behoort te beïnvloed om 'n gebonde versekeraar wat uit verskillende selle bestaan, te stig, is geïdentifiseer as die spreiding van die risiko's van die houermaatskappy, die retensiekapasiteit van die houermaatskappy en die finansiële verbintenis van die houermaatskappy. Die drie belangrikste faktore wat die besluitneming van 'n houermaatskappy behoort te beïnvloed om 'n gebonde versekeraar wat uit verskillende selle bestaan, te bedryf, is geïdentifiseer as die finansiële verbintenis van die houermaatskappy, die spreiding van die risiko's van die houermaatskappy en die bestuursverbintenis van die houermaatskappy . 'n Besluitnemingsmodel is as hulpmiddel vir risikobestuurders ontwikkel, vrr beide binnelandse gebonde versekeraars asook gebonde versekeraars wat uit veskillende selle bestaan, om met besluitneming ten opsigte van die stigting en bedryf van 'n gebonde versekeraar as deel van hul risikobestuursprogram te help. Die voortvloeiende gevolgtrekkings en aanbevelings van die werkstuk was grootliks gebaseer op die persoonlike menings van die gebonde versekeraars wat aktief in die Suid-Afrikaanse gebonde versekeringsbedryf is. Dit word gevolglik aanbeveel dat toekomstige navorsing ook die rol en menings van die houermaatskappye insluit.
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Jabbour, Mirna. "Investigation of risk management changes in insurance companies." Thesis, Brunel University, 2013. http://bura.brunel.ac.uk/handle/2438/7964.
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This thesis studies the change process of risk management practices associated with the implementation of Enterprise Risk Management (ERM) and the extent to which it can lead to changes in capital allocation practices. The study develops a theoretical framework to study risk management changes, which draws on structuration theory (Giddens, 1979, 1984) and institutional theory, particularly the institutional framework of Burns and Scapens (2000), as well as new institutional sociology theory. A two-stage empirical study was undertaken in non-life insurance companies. The first stage was a field study of 10 listed non-life insurance companies, while the second stage was a case study of a large non-life insurance company. Multiple data collection methods were used including semi-structured interviews, documentary evidence, annual reports, and publicly available data. Findings show internal, coercive, and normative pressures have mainly driven the ERM adoption decision. The literature supports the impact of coercive, mimetic, and normative pressures on the trend toward ERM in financial industries. However, the study finds that internal pressures related to achieving the company's objectives are either equal to or surpass the external pressures. The study also provides empirical evidence of the changes in risk management practices, which include capital allocation change process associated with ERM implementation. Effective capital allocation requires the incorporation of ERM elements in the whole process of allocating capital. Furthermore, new capital allocation routines and institutions are produced. The study shows that the risk-based capital allocation method is intra- and extra-institutionalised at the company level. The main contribution of this thesis is to identify the nature of ERM adoption and implementation in insurance companies. More specifically, this study provides a better understanding of the institutional forces driving ERM adoption and offers empirical evidence on ERM implementation and the change in risk management practices (routines) within nonlife insurance companies. Moreover, this study avoids the limitations of previous research that was based on surveys, and it does so by conducting an exploratory field study and explanatory case study to address the changes in risk management practices. Practices and process need to be located in their institutional context and hence cannot be reflected in surveys.
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Akinbola, Oluwakemi Ejide, and Isaac Likali Tsowa. "ETHICAL ISSUE : A PROBLEM IN NIGERIA INSURANCE COMPANIES." Thesis, Blekinge Tekniska Högskola, Sektionen för management, 2010. http://urn.kb.se/resolve?urn=urn:nbn:se:bth-1146.
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The study aimed to investigate and critically analyze claims management, an ethical issue in insurance companies in Nigeria, to find out if these insurance companies recognize it to be an ethical issue and also to find out how they handle insured’s claims. A qualitative research method was used in carrying out this study; data was sourced through interviews and by secondary data using literatures from books, journals, articles, and electronic websites. The researchers used purposive sampling to select some top insurance companies in Nigeria; in these insurance companies basically personnel working in the claims department were interviewed, also sales agents from two of these insurance companies were interviewed. Data was sourced from two insurance broking firms in Nigeria by interviewing their top personnel, and also some of the insuring public with and without insurance policies was interviewed. The analytical strategy adopted in this research work was to rely on theoretical propositions. This study made use of Jones (1991) moral intensity model. Based on the analysis of data collected during the interview, the study revealed that insurance personnel in claims administration who take decision on insured’ claims in Nigeria recognize that there is a moral dilemma in their act and they discharge this responsibility professionally and ethically sticking to the rules of the business. Also the characteristics that constitute moral intensity model; proximity, social context, probability of effect, concentration of effect and magnitude of consequence offered by Jones (1991) influence the moral decision making process and moral behavior of claims personnel in Nigeria insurance companies. But due to some challenges faced by these personnel in discharging their duty and some lapses from their side and the insured’s there have always been complaint on claims. However they acknowledge that no one is perfect therefore they are open to getting feedbacks from their clients on the way they feel about their claims which they look into and make necessary amendments where needed. This study concluded with proposition for future researchers to look into how the challenges encountered by personnel managing insured’s’ claims in insurance companies in Nigeria can be dealt with and to find out how insurance companies in Nigeria can gain the awareness of the insuring public and make them understand the terms and conditions of insurance service.kemi987@yahoo.co.uk, +46760825772
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Akinbola, Isaac Likali Tsowa &, and Oluwakemi Ejide. "ETHICAL ISSUE : A PROBLEM IN NIGERIA INSURANCE COMPANIES." Thesis, Blekinge Tekniska Högskola, Sektionen för management, 2010. http://urn.kb.se/resolve?urn=urn:nbn:se:bth-1148.
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The study aimed to investigate and critically analyze claims management, an ethical issue in insurance companies in Nigeria, to find out if these insurance companies recognize it to be an ethical issue and also to find out how they handle insured’s claims. A qualitative research method was used in carrying out this study; data was sourced through interviews and by secondary data using literatures from books, journals, articles, and electronic websites. The researchers used purposive sampling to select some top insurance companies in Nigeria; in these insurance companies basically personnel working in the claims department were interviewed, also sales agents from two of these insurance companies were interviewed. Data was sourced from two insurance broking firms in Nigeria by interviewing their top personnel, and also some of the insuring public with and without insurance policies was interviewed. The analytical strategy adopted in this research work was to rely on theoretical propositions. This study made use of Jones (1991) moral intensity model. Based on the analysis of data collected during the interview, the study revealed that insurance personnel in claims administration who take decision on insured’ claims in Nigeria recognize that there is a moral dilemma in their act and they discharge this responsibility professionally and ethically sticking to the rules of the business. Also the characteristics that constitute moral intensity model; proximity, social context, probability of effect, concentration of effect and magnitude of consequence offered by Jones (1991) influence the moral decision making process and moral behavior of claims personnel in Nigeria insurance companies. But due to some challenges faced by these personnel in discharging their duty and some lapses from their side and the insured’s there have always been complaint on claims. However they acknowledge that no one is perfect therefore they are open to getting feedbacks from their clients on the way they feel about their claims which they look into and make necessary amendments where needed. This study concluded with proposition for future researchers to look into how the challenges encountered by personnel managing insured’s’ claims in insurance companies in Nigeria can be dealt with and to find out how insurance companies in Nigeria can gain the awareness of the insuring public and make them understand the terms and conditions of insurance service.
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Frizziero, Luca <1995>. "Credit risk management in banks and insurance companies." Master's Degree Thesis, Università Ca' Foscari Venezia, 2020. http://hdl.handle.net/10579/16815.
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This thesis aims to analyse the ways in which credit risk is managed and modelled in banks and insurance companies. The structure of this research is divided into four chapters. The first part aims to introduce the main features and parameters for the credit risk analysis, such as the probability of default of bond issuers and their joint correlation, the Loss Given Default (LGD), the Exposure at Default (EAD) and the computation of the main quantities of interest for the determination of the capital requirements, with a particular focus on how banks and insurance companies must comply with their respective EU regulatory frameworks, i.e. Basel III for banks and Solvency II for insurers. In Chapter 2, different approaches to model default correlation and the most widespread used models for credit risk management are discussed and compared. Particular emphasis is given to the CreditMetrics, KMV, CreditPortfolioView and CreditRisk+ models, of which this thesis provides an extensive explanation of their basic versions. The third chapter proposes an in-depth comparison of the features that make insurance companies differ from banks, with a specific focus on the insurance industry and the compliance with Solvency II. The last part of this paper encompasses a case study based on the development and application of a credit risk management model using Matlab programming software.
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Dahlin, Rob C. "Historical role of insurance company loss control services and their impact on the insurance buying decision." Online version, 1998. http://www.uwstout.edu/lib/thesis/1998/1998dahlinr.pdf.
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Weier, Annette 1960. "Demutualisation in the Australian life insurance industry." Monash University, Dept. of Economics, 2000. http://arrow.monash.edu.au/hdl/1959.1/8371.
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Yu, Kok-leung, and 余國樑. "A study of the rising roles of China state-owned and other Chinese capital insurance companies in the insurance market of Hong Kong andhow insurance companies can survive this impact." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 1998. http://hub.hku.hk/bib/B31269539.
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Diallo, Alahassane Issah. "Synergy, asymmetric information, or wealth redistribution : an empirical inquiry to the formation of captive insurance companies /." The Ohio State University, 1985. http://rave.ohiolink.edu/etdc/view?acc_num=osu1487261553060377.
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McDonald, Thomas Gordon, and mikewood@deakin edu au. "The use and cost effectiveness of computer based training in the insurance industry." Deakin University, 1998. http://tux.lib.deakin.edu.au./adt-VDU/public/adt-VDU20051202.091334.
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Training is essential to the growth and economic well-being of a nation. This need for training pervades all levels of industry, from a national level where a countrys well being is enhanced by training, to each company where productivity is improved, down to the individual whose skills are enhanced and as a result improve their position in the employment marketplace.
The Australian Bureau of Statistics report Training and Education Experience Australia (ABS 1993) indicates that training in Australia is undertaken at a significant level with some 86% of employers undertaking some form of training. This is slightly higher in the Finance industry at a little over 89%. On the job training is undertaken by 82% of employers and off the job training is used by 47% of employers. In 80% of the off the job cases these courses were conducted in a conventional manner using an instructor. The remaining 20% of cases were either self paced (14%) or instructor based (6%). These latter cases could involve Computer Based Training (CBT).
The report, referred to in the last paragraph, also indicates that a significant aspect of business in Australia is that 95% of businesses have less than 20 staff. This poses significant problems in that the ability to deliver effective training is limited. With businesses as small as these their size does not permit them to carry specialist training personnel so this role falls to the senior staff. These people already have a full workload and their ability to be able to take on training duties is limited. In addition these people were employed for their technical skills, not training. It may be that their ability to fill the role of a trainer is not good and as a result the training may not be very effective. In addition, small business has difficulty in releasing staff for training, The difficulties faced by small business were recognised by the Australian National Training Authority in their 1995 report which indicated that there was a need to develop a training culture among small business employers. The authority made a commitment to provide flexible delivery strategies. This includes Computer Based Training (CBT). CBT has existed since the 1970s. It came on to the scene with a flourish and tended to provide page turning programs or drill and practice programs. In limited areas this form of training became popular but its popularity waned in the 80s. With the advent of better graphical displays, larger and faster memory, and improved programs in the 1990s the quality of CBT today is superior to those offered in the 70s and has greater appeal. Today, still photographs and video clips can be displayed and made interactive. Because of this CBT is making a comeback and starting to have a greater impact.
The insurance industry covers a wide range of companies in Australia, these companies vary in size from companies with employees in the thousands to companies with less than five staff. While the needs of the employees of each are similar the ability of these companies to deliver the training varies significantly.
Any training can be divided into two parts. Internal or on the job training and external. External training deals with those aspects that concern the industry as a whole whereas internal training affects the individual company. Internal training would deal with matters like company procedures, company products and the like. External training deals with matters such as legislation, products generally, and the like. In the insurance industry the major problem arises with the small companies. Insurance companies would tend to be large in size and able to cover their training costs but the insurance brokers who would make up, numerically, the major number of companies would have a significant number of companies that fall into the 20 staffer less category. In fact many would have a staff of less than 5. While CBT can benefit all companies it is these small companies that could benefit from it the most.
This thesis examines:
The place of CBT in training, its cost and effectiveness.
The incidence of CBT in the insurance industry and how the industry determines its effectiveness.
If a program that meets an industry need is able to be produced at a realistic price?
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Blair, Mark. "Choice of ownership structure in the Australian life insurance industry." Phd thesis, Department of Accounting, 1991. http://hdl.handle.net/2123/7910.
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Plath, Tobias Felix D. "Das Lebensversicherungsunternehmen in der Insolvenz : unter besonderer Berücksichtigung des Gesetzes zur Umsetzung aufsichtsrechtlicher Bestimmungen zur Sanierung und Liquidation von Versicherungsunternehmen und Kreditinstituten vom 10. Dezember 2003 /." Frankfurt am Main [u.a.] : Lang, 2007. http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&doc_number=015673563&line_number=0002&func_code=DB_RECORDS&service_type=MEDIA.
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Afambo, Edoh Fofo. "Operational Risk Capital Provisions for Banks and Insurance Companies." Digital Archive @ GSU, 2006. http://digitalarchive.gsu.edu/rmi_diss/15.
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This dissertation investigates the implications of using the Advanced Measurement Approaches (AMA) as a method to assess operational risk capital charges for banks and insurance companies within Basel II paradigms and with regard to U.S. regulations. Operational risk has become recognized as a major risk class because of huge operational losses experienced by many financial firms over the last past decade. Unlike market risk, credit risk, and insurance risk, for which firms and scholars have designed efficient methodologies, there are few tools to help analyze and quantify operational risk. The new Basel Revised Framework for International Convergence of Capital Measurement and Capital Standards (Basel II) gives substantial flexibility to internationally active banks to set up their own risk assessment models in the context of the Advanced Measurement Approaches. The AMA developed in this thesis uses actuarial loss models complemented by the extreme value theory to determine the empirical probability distribution function of the overall capital charge in terms of various classes of copulas. Publicly available operational risk loss data set is used for the empirical exercise.
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Lawings, Michael Anthony. "Business continuity operational strategies for national healthcare insurance companies." Thesis, Georgia Institute of Technology, 2002. http://hdl.handle.net/1853/21804.
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Berketi, Alexandra. "Allowing for insurance companies' liabilities in mean-variance models." Thesis, Heriot-Watt University, 1998. http://hdl.handle.net/10399/600.
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He, Nanxing. "Strategic management issues of foreign insurance companies in China." Thesis, University of Nottingham, 2002. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.401457.
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Akinwale, Samson Olusegun. "Asset portfolio decision making process of Nigerian insurance companies." Thesis, Manchester Metropolitan University, 2006. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.426457.
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Asset configuration of Insurance Companies is crucial to their efficient management since the diversification it implies is vital for the dispersion and atomisation of risks underwritten. Asset portfolio decisions are important to Insurance Companies because they conciliate between rarely converging and often conflicting goals, security, liquidity and profitability. This study examines asset portfolio decision making process of Insurance Companies in Nigeria. The current study, aims to identify and develop integrated investment decision concepts guiding and influencing the asset portfolio decision process. Prior literature on asset portfolio decision making in Nigeria is sparse and focussed principally on classical models of decision making with inadequate metrics for quantifying risks, questionable and impracticable methods and data. The main problem of the portfolio theory, ex-pected utility and most modem theories of risks is that they regard risks in terms of standard deviations, variances, decision weights and co variances whereas risks can be defined in many ways and terms in different situations They fail to account for many facets of decision making by reflecting on rational and normative models that treat investment decision making as highly structured and formalised. By contrast, decision making and risk assessment are multi criteria processes that cannot be defined by rigid quantitative models thus highlighting the necessity to consider decision making by decision makers in their natural settings (social contexts, political and environment) in the case of this thesis, an Insurance Company. Decision theory literature together with asset portfolio decisions literature are reviewed and considered within the contexts of the unit of analysis. Utilising the qualitative paradigm, the research made use of exrploratory case study of a single organisation through the application of modified grounded theory methodology to develop six broad cases of investment decision concepts. The emergent concepts were critique against extant literature thereby highlighting their similarities and differences. The thesis introduces new perspectives of decision making by the introduction of the investment decision concepts influencing asset portfolio decisions of Insurance Companies. Thus, the research specifically contributes to three areas of research. The first area centred on asset portfolio management six decision concepts (Consistency of Return, Security, Legal and Regulatory Control, Competency of Management. Association &Relationships and Stable Environment). The second area is the methodological approach by situating naturalistic decision making within the insurance sector and the modified grounded theory employed enhances conventional qualitative research within the financial sector of the Nigerian economy. The third key area addresses the significance of social relationship, association and specific environmental issues influencing asset portfolio decision of Nigerian Insurance Companies.
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Karabey, Ugur. "Risk capital allocation and risk quantification in insurance companies." Thesis, Heriot-Watt University, 2012. http://hdl.handle.net/10399/2566.
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The objective of this thesis is to investigate risk capital allocation methods in detail for both non-life and life insurance business. In non-life insurance business loss models are generally linear with respect to losses of business-lines. However, in life insurance loss models are not generally a linear function of factor risks, i.e. the interest-rate factor, mortality rate factor, etc. In the first part of the thesis, we present the existing allocation methods and discuss their advantages and disadvantages. In a comprehensive simulation study we examine the allocations sensitivity to different allocation methods, different risk measures and different risk models in a non-life insurance business. We also show the possible usage of the Euclidean distance measure and rank correlation coefficients for the comparison of allocation methods. In the second part, we investigate the factor risk contribution theory and examine its application under a life annuity business. We provide two approximations that enable us to apply risk capital allocation methods directly to annuity values in order to measure factor risk contributions. We examine factor risk contributions for annuities with different terms to maturity and the annuities payable at different times in future. We also analyse the factor risk contributions under the extreme scenarios for the factor risks.
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Öhman, Oscar. "Rating corrumption within insurance companies using Bayesian network classifiers." Thesis, Umeå universitet, Statistik, 2019. http://urn.kb.se/resolve?urn=urn:nbn:se:umu:diva-160810.
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Bayesian Network (BN) classifiers are a type of probabilistic models. The learning process consists of two steps, structure learning and parameter learning. Four BN classifiers will be learned. These are two different Naive Bayes classifiers (NB), one Tree Augmented Naive Bayes classifier (TAN) and one Forest Naive Bayes classifier (FAN). The NB classifiers will utililize two different parameter learning techniques, which are generative learning and discriminative learning. Generative learning uses maximum likelihood estimation (MLE) to optimize the parameters, while discriminative learning uses conditional likelihood estimation (CLE). The latter is more appropriate given the target at hand, while the former is less complicated. These four models are created in order to find the model best suited for predicting/rating the corruption levels of different insurance companies, given their features. Multi-class Area under the receiver operating characteristic (ROC) curve (AUC), as well as accuracy, is used in order to compare the predictive performances of the models. We observe that the classifiers learnt by generative parameter learning performed remarkably well, even outperforming the NB classifier with discriminative parameter learning. But unfortunately, this might imply an optimization issue when learning the parameters discriminately. Another unexpected result was that the CL-TAN classifier had the highest multi-class AUC, even though FAN is supposed to be an upgrade of CL-TAN. Further, the generatively learned NB performed about as good as the other two generative classifiers, which was also unexpected.Bayesianska nätverk (BN) är en typ av sannolikhetsmodell som används för klassificering. Inlärningsprocessen av en sådan modell består av två steg, strukturinlärning ochparameterinlärning. Fyra olika BN-klassificerare kommer att skattas. Dessa är två stycken Naive Bayes-klassificerare (NB), en Tree augmented naive Bayes-klassificerare (TAN) och enForest augmented naive Bayes-klassificerare (FAN). De två olika NB-klassificerarna kommer att skilja sig åt i att den ena använder sig av generativ parameterskattning, medan den andra använder sig av diskriminativ parameterinlärning. Chow och Lius (CL) berömda algoritm, där det ingår att beräkna betingad ömsesidig information (CMI), brukar ofta användas för att hitta den optimala trädstrukturen. Denna variant av TAN är känd som CL-TAN. FAN är en annan slags uppgradering av NB, som kan anses vara en förstärkt variant av CL-TAN, där förklaringsvariablerna är kopplade till varandra på ett sätt som ger en skogs-liknande struktur. De två olika parameterinlärningsmetoderna som används är generativ inlärning och diskriminativ inlärning. Den förstnämnda använder sig av maximum likelihood-skattning (MLE) för att optimera parametrarna. Detta är smidigt, men samtidigt skattas inte det som avsetts. Den sistnämnda metoden använder sig istället av betingad maximum likelihood-skattning (CLE), vilket ger en mer korrekt, men också mer komplicerad, skattning. Dessa sex modeller kommer att tränas i syfte att hitta den modellsom bäst skattar korruptionsnivåerna inom olika försäkringsbolag, givet dess egenskaper iform av förklaringsvariabler. En multiklassvariant av Area under the reciever operatingcharacteristics (ROC) curve (AUC) används för att bedöma skattningsprecisionen för varjemodell. Analysen resulterade i anmärkningsvärda resultat för de generativa modellerna,som med goda marginaler skattade mer precist än den diskriminativa NB-modellen.Tyvärr kan detta dock vara en indikation på optimeringsproblem vid de diskriminativa parameterinlärningen av NB. Ett annat anmärkningsvärt resultat var att av samtliga generativa modeller, så var CL-TAN den modellen med högst AUC, trots att FAN i teorinska vara en förbättrad variant av CL-TAN. Även den generativa NB-modellens resultat var anmärkningsvärd, då denna modell hade nästan lika hög AUC som de generativa CL-TAN och FAN-modellerna.
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Manthey, Kate. "Factors influencing completion of the Chartered Property Casualty Underwriter professional designation." Online version, 2009. http://www.uwstout.edu/lib/thesis/2009/2009mantheyk.pdf.
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Kwong, Sze-ki Louis, and 鄺士奇. "A study of the profits of local general insurance companies." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 1987. http://hub.hku.hk/bib/B3126380X.
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Osman, Abdelghafour Mohamed. "Structured products: Pricing, hedging and applications for life insurance companies." Thesis, Uppsala University, Department of Mathematics, 2009. http://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-119969.
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Haboub, Ahmad. "Essays on equity valuation and accounting conservatism for insurance companies." Thesis, Brunel University, 2017. http://bura.brunel.ac.uk/handle/2438/15823.
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This thesis contributes to the literature in the finance and accounting field throughout its three empirical chapters. The first empirical chapter contributes to the literature on accounting conservatism in several ways; first, it investigates the accounting conservatism of US insurance companies using four measures, namely, non-operating accruals, skewness of earnings and cash flows, book to market ratio and asymmetric timeliness measures. Second, this paper compares these four measures in order to determine the association and differences between them. Finally, the level of accounting conservatism of the insurance companies is compared to that of a sample of commercial banks to check whether they have similar levels of accounting conservatism. The results of the first chapter suggest that the changes in accounting performance, as measured by return over assets, can be partly explained by accounting conservatism, since it is measured by the accumulation of non-operating accruals, skewness of operating cash flow and accruals, book to market ratio, adjusted book to market ratio and Basu's asymmetric measure. All of these four measures give robust evidence that insurance companies' accounts tended to be conservative for the whole sample period, and that the level of conservatism has risen over the years. More interestingly, a t test for the differences in means suggests that accruals conservatism show on average a higher level of accounting conservatism than book value conservatism does. Finally, our results, based on a constant sample consist of 92 banks and 46 insurance companies whose data are available for all the sample years; they suggest that both insurance companies and banks have similar levels of accounting conservatism due to their similar reporting characteristics. The second empirical chapter contributes to the existing literature on equity valuation in two ways. First, it confirms the importance of imposing linear information dynamics when predicting the equity values of insurance companies, because the restricted models result in fewer error metrics. Second, it highlights the role of the accruals components in the equity valuation of US insurance companies by demonstrating that the incorporation of accrual components in the residuals income valuation model suggested by Ohlson (1995) has smaller error metrics than those of aggregate net income. Our results are based on a sample of US insurance companies, which consists of 718 firm-year observations over the period from 2001 to 2012. For instance, our results suggest that total accruals, changes in insurance reserve, changes in account receivables, and deferred acquisition costs have an incremental ability to predict equity market value over abnormal earnings and book values. Furthermore, the predictive ability of changes in insurance reserves is higher than the predictive ability of changes in account receivables and the change in deferred acquisition costs without imposing the LIM structures. However, when the LIM structure is imposed the predictive ability of changes in deferred acquisition costs is higher than the predictive ability of both changes in accounts receivable and changes in insurance reserves. Our final empirical chapter contributes to the literature on accounting anomalies by investigating the value to price anomaly (V/P), where the fundamental value (V) is estimated using the residual income valuation model. Motivated by the findings of Hwang and Lee (2013), Fama and French (2015), and Fama and French (2016), Chapter Four asks whether V/P strategies reflect the risks factor or whether this is better explained by market inefficiency, and whether Fama and French's five-factor model can explain the excess return of V/P. To answer the previous questions we use data from the merger of COMPUSTAT, CRSP, I/B/E/S for all the non-financial firms listed in AMEX, NYSE, and NASDAQ during the period from 1987 to 2015. Our findings suggest that the V/P ratio is positively correlated to future stock returns after controlling for several firm characteristics, which are known to be proxies of common risks. Our results indicate that the omission of risk factors is not likely to be an explanation of the V/P effect. To answer the second question, we compare the performances of different asset pricing models by calculating the GRS F-statistics. Our findings clearly indicate that the five-factor model of Fama and French performs better than either the CAPM or the traditional Fama and French three factor model. These results confirm that the excess returns of V/P strategy vary due to the differences in size, the B/M ratio, operating profit and betas across quintile portfolios. However, these factors cannot explain all the variation in excess returns; moreover, the stocks in the high V/P may be riskier than the stocks in the low V/P portfolios in certain other dimensions.
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Weng, Deh-Yen 1970. "China's life insurance industry : opportunities and challenges for foreign companies." Thesis, Massachusetts Institute of Technology, 2000. http://hdl.handle.net/1721.1/9208.
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Thesis (M.B.A.)--Massachusetts Institute of Technology, Sloan School of Management, 2000.Also available online at the DSpace at MIT website.
Includes bibliographical references (leaves 95-97).
Since China began its "open door" policy in the late 1970s, this huge undeveloped market has attracted the attention of investors from all over the world. The fast growing economy has also stimulated demand in the insurance business. China opened its insurance market to foreign entrants in 1992. However, this is only a gradual step due to numerous restrictions on licensing, geographical scope, product scope and operation. In the US-China WTO agreement, China has committed to more fully open the insurance market, and this will provide some opportunities for foreign companies. This thesis attempts to examine the life insurance industry in Mainland China and to identify the opportunities and challenges for foreign entrants. In addition to describing the current industrial environment by investigating regulatory issues, the major players, competition, market factors, and the dynamics of foreign and domestic companies, this thesis will also discuss the market potential, the impacts of the WTO agreement, and changes and opportunities for the future. Some critical non-market factors associated with the market are also addressed including political and economic issues, the legal framework and administrative system, working relationships, cultural differences, and investment issues. There is no intention for a conclusion in this thesis, since for most foreign insurers, multinational insurance groups in particular, it is not likely that they can refuse becoming involved in this market. Therefore, the main purpose of this thesis is to describe an overview of this market, to point out the risks, and to provide some suggestions for foreign companies to take into account before they enter China.
by Deh-Yen Weng.
M.B.A.
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Solovei, I., Людмила Борисівна Рябушка, Людмила Борисовна Рябушка, Liudmyla Borysivna Riabushka, Світлана Григорівна Золотова, Светлана Григорьевна Золотова, and Svitlana Hryhorivna Zolotova. "Current status and tendencies of insurance companies investment activity development." Thesis, Sumy State University, 2020. https://essuir.sumdu.edu.ua/handle/123456789/77909.
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Today, insurance is very important for society, as it is a remedy that minimizes the negative impact of various adverse events in public life and takes preventative measures or the complete elimination of undesirable consequences of these risks. In addition, insurance companies play a significant role in the inflow of investments into the national economy, because they have attracted financial resources as insurance contributions for a long time. This can be a source of investment under certain conditions.
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Zanjani, George. "Essays on capital and risk in insurance production /." 2000. http://gateway.proquest.com/openurl?url_ver=Z39.88-2004&res_dat=xri:pqdiss&rft_val_fmt=info:ofi/fmt:kev:mtx:dissertation&rft_dat=xri:pqdiss:9978093.
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Bader, Kristian B. "Strategic design factors for an automated customer interface in Swiss insurance companies : an exploratory study." 2007. http://arrow.unisa.edu.au:8081/1959.8/80844.
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Chiu, Yi-Jing, and 邱怡菁. "The Development of Mobile Insurance in Taiwan Life Insurance Companies." Thesis, 2015. http://ndltd.ncl.edu.tw/handle/12674764647988049489.
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碩士逢甲大學
風險管理與保險學系
103
The research is about the development of Mobile Insurance in Taiwan life insurance companies. By visiting and interviewing salespeople, we can know that the situation of Mobile Insurance and the benefits it bring. We also understand the difficult in their APPs exploiting, promotion and then how to solve those difficulties. Mobile Insurance brings life insurance companies many benefits, the most obvious point is that the cost of human resource because it causes labors reallocation. The most difficult of all is developing APPs, creating APPs is good for salespeople with higher stability are the most necessary to resolve for life insurance companies because APP is an important role in developing Mobile Insurance for life insurance companies. Finally, giving two pieces of advice to life insurance companies via the study. First, let salespeople to accept new sales pattern in progressive way. Second, the task of creating APPs must be conducted by IT department in life insurance companies. It makes data connects smoothly and would be convenient for salespeople.
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Shieh, Jinq Wen, and 謝靜雯. "Competitive Strategy of Life Insurance Companies." Thesis, 1997. http://ndltd.ncl.edu.tw/handle/77882516715743303015.
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Chou, szu-chi, and 周思錡. "Merger of Taiwan Life Insurance Companies." Thesis, 2014. http://ndltd.ncl.edu.tw/handle/18604489291267313334.
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碩士國立雲林科技大學
財務金融系
102
The Taiwanese government enacts “financial holding company law” in 2001 and conduct secondary financial reforms in 2004. Hereafter, many Taiwanese financial companies, including banks, securitiy and insurance companies, set up financial holding companies through merge and acquisitions. The subprime mortgage financial crisis of 2007 and European financial crisis led to numbers of foreign financial institutions failing and triggered the organization structure reform of Taiwan’s financial institurions. This study analyzes the pre-acquisition and post-acquisition performance of Taiwanese life insurance companies. The results show that the return on assets and net profit increase and the number of employee significantly decrease after merge.
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Bigodinho, Joana Ricardo. "Predictive Underwriting in Life Insurance Companies." Master's thesis, 2022. http://hdl.handle.net/10362/135870.
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Project Work presented as the partial requirement for obtaining a Master's degree in Statistics and Information Management, specialization in Risk Analysis and ManagementO desenvolvimento e o avanço tecnológico têm tido um impacto relevante na vida da população, nas mais diversas áreas de interação, principalmente no que toca a atividades de proteção da vida da população e de aforro de capitais. Cada vez mais a população se desprende dos métodos tradicionais e dá preferência a novas técnicas, onde prevaleçam processos mais ágeis e capazes de dar resposta no momento. Neste sentido, na atividade seguradora, torna-se imprescindível o acompanhamento desta necessidade. Atualmente, cerca de 50% da população portuguesa contratou um seguro de vida, quer sejam ligados a fundos de investimentos, crédito à habitação ou não. Muitos estudos desenvolvidos nesta área, demonstram que existem fatores determinantes na tomada de decisão para efetuar um seguro de vida, tais como a nível demográfico, económico e institucional. Por este motivo, este projeto pretende analisar, através da implementação de modelos preditivos, os principais fatores de risco que facilitem o processo da tomada de decisão, quer na visão da entidade seguradora como do segurado, garantido um processo de subscrição mais ágil, eficaz e confiável. Assim, analisou-se modelos de Predictive Underwriting em produtos de vida risco. Para tal, foram analisados os principais fatores de risco, através da aplicação de modelos preditivos na base de dados de uma carteira de produtos de vida risco, com indicadores do presente e do passado, utilizando um histórico de 2 anos fornecido pela entidade seguradora, onde se identificaram as variáveis de subscrição mais correlacionadas e significantes. Este projeto realizou-se com o acompanhamento da área técnica do negócio vida da companhia de Seguros Fidelidade, tento sido aplicado à sua carteira de Vida Risco. Ao longo deste projeto foi possível constatar que existem diversos fatores que são avaliados no momento da subscrição de um seguro de vida que não acrescentam informação essencial à avaliação de risco, assim como o reverso também acontece. Foram então identificados, dentro dos fatores atualmente considerados, aqueles que maior impacto têm na aceitação do risco. Para além disso, foram também sugeridos fatores determinantes de risco que não estavam a ser considerados. Através do desenvolvimento e implementação deste modelo, pretende-se que o processo de subscrição seja o mais assertivo possível contribuindo para uma redução do risco adquirido e com uma redução considerável no tempo despendido para a avaliação do risco de cada cliente.
Technological development has a relevant impact on the lives of the population, in the most diverse areas of interaction, especially about life protection and capital savings activities, it is essential to keep up with this need of the population. Nowadays, the population is letting go the traditional methods and giving preference to new techniques, more agile processes prevail and can respond at the moment. Thus, it is essential that Insurance Activity follow this new demand of the population to benefit from faster and more efficient processes. Currently, about 50% of the Portuguese population has a life insurance, whether they are linked to investment funds or not. Many studies developed in this area show that there are determining factors in the decision to take out life insurance, such as demographic, economic, and institutional levels. For those reasons this project pretends analyze, with predictive models, the mains factors that facilitate the decision-making process by the insurance company, in order to evaluate the risk more quickly and efficiently. Thus, this project pretends to analyze a Predictive Underwriting model in life risk products. For this, the main risk factors will be analyzed, through present and past indicators, using a 2-year history provided by the insurance company, looking for the most correlated and significant underwriting variables. This project will be carried out with attendance from the life technical area at Fidelidade Insurance Company and applied to its life risk portfolio. Throughout this project, it was possible to see that exists several factors that are evaluated when taking out a life insurance policy, that do not add essential information to the risk assessment, as well as the reverse also occurs. Among the factors currently considered, those that have the greatest impact on risk acceptance were identified. Furthermore, it was also suggested other determining risk factors that were not being considered at the moment. Subsequently, through the development and implementation of this model, it is expected that the underwriting process will be as assertive as possible and with a considerable reduction in the time spent on risk assessment for each customer.
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Tsai, Jeffrey Tzu-Hao, and 蔡子晧. "Hedging Longevity Risk for Life Insurance Companies." Thesis, 2008. http://ndltd.ncl.edu.tw/handle/05634705539081336887.
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博士國立臺灣大學
財務金融學研究所
96
The longevity impacts human sociality including insurance companies and individuals. The demand for annuity product increase rapidly for individuals but issuing the annuity-type product pushes the insurance company in extreme high longevity risk. This risk is systematic and non-diversifiable by the Low of Large Number method. We provide two new methods to against this risk by the concept of nature hedging of annuities and life insurances. On is the Duration Match approach, another is Quantile Liability Allocation (QLA) approach. Both strategies reduce the longevity risk effectively and provide the insure companies with an optimal liability allocation at the same time. In Part I, we hedge annuity product risk with life insurance and find the optimal hedging proportion under Duration Match approach. Different to Cox and Lin (2007) swap approach, the proportion formula is derived by effective duration and has an analytic formulation. The mixed proportions under different age, gender, coverage and method of payment are explored numerically. Part II incorporates the mortality nature hedging strategy of Cox et al. (2007) and the two-factor stochastic mortality model of Cairns et al. (2006b). We propose a quantile liability allocation (QLA) method for insurance companies to hedge against mortality systematic risk. We integrate the risk premiums loadings of systematic risk into the model by Sharpe Ratio Pricing Principle suggested as Milevsky et al. (2006). The QLA model can lead to an optimal liability structure that has smaller quantiles under the required loading return and a multiple liabilities framework. We compare the hedging results to duration match method of Wang et al. (2008) and show that QLA method have a better distribution risk reduction effect when the mortality shift are non-parallel. The parameter uncertainty could be included into the model as well.
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Zhu, Jiayan. "China's insurance companies' efficiency: an empirical study." Doctoral thesis, 2019. http://hdl.handle.net/10071/21344.
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Great achievements have been seen in
China's insurance industry in the past 20 years, however, inefficiency problems were prevailing as many insurance company only pursuing the expansion of the quantity, but not the increase of their key competitiveness. How to improve the core competitiveness of China's insurance industry, especially the efficiency of Chinese-funded insurance companies, has always been an important issue that the Chinese government, regulators and insurance institutions have been paying attention to and exploring for a long time.
This thesis uses the most advanced efficiency evaluation model - three-stage DEA method and a samples of 43 property insurance companies and 53 life insurance companies to calculate the technical efficiency, pure technical efficiency and scale efficiency from 2008 to 2011. The research results show that China’s insurance industry has high technical efficiency and pure technical efficiency, while its scale efficiency is low and its scale is still in an expanding stage from 2008 to 2011. In order to compete with foreign insurance companies, Chinese insurance companies must upgrade their key competitiveness and pure technical efficiency as soon as possible. Through more rational allocation of resources and more refined management, China's insurance industry can achieve its development goals.
According to Empirical research, the main reason for the weak core competitiveness of Chinese small and medium-sized insurance companies is the imbalance of inputs and outputs. Therefore, through rational allocation of resources, optimization of business strategies, and control of costs, the efficiency of companies can be improved.
By studying the factors affecting the efficiency of Chinese insurance companies, the conclusion shows that the expansion of asset size will significantly increase the technical efficiency and scale efficiency of life insurance companies and property insurance companies. Moreover, all efficiency of foreign property insurance companies outperform Chinese-funded ones, while technical efficiency of Chinese-funded life insurance companies outperform foreign ones.Tem-se assistido nos últimos 20 anos um desenvolvimento extraordinário da indústria de seguros na China, contudo, o problema da ineficiência continua a ser um problema grave porquanto que a indústria de seguros na China caracteriza-se no essencial pela expansão em dimensão e não nos fatores de competitividade. A necessidade de melhoria da capacidade competitiva da indústria chinesa de seguros e, em especial, a eficiência de seguradoras de capital chinês tem sido uma preocupação importante para o governo chinês, para os reguladores e para as próprias instituições seguradoras. Este trabalho, utilizando o método de eficiência DEA de três estádios e uma amostra composta por 43 seguradoras de seguros imobiliários e 53 outras do ramo vida, computou a eficiência técnica, eficiência técnica pura e a escala de eficiência no período de 2008 e 2011. Os resultados da investigação mostram que a indústria seguradora da China tem uma elevada eficiência técnica e técnica pura, enquanto que a escala de eficiência é baixa e demonstramos que se encontrava numa fase de desenvolvimento no período de 2008 e 2011. De acordo com a nossa investigação empírica, a razão principal da fraca competitividade das seguradoras chinesas de pequena e média dimensão é o desequilíbrio entre «inputs» e «outputs». Com uma afetação racional de recursos, otimização de estratégias de mercados e controlo de custos, a eficiência das seguradoras poderia ser melhorada. Na análise de fatores que afetam a eficiência das empresas chinesas de seguros, o nosso estudo mostra que o reforço de ativos contribuirá para a melhoria da eficiência técnica e da escala de eficiência de seguradoras tanto do ramo vida como do ramo imobiliário. Concluímos ainda que as seguradoras estrangeiras têm melhor eficiência do que as congéneres chinesas, mas avaliando pela ótica de eficiência técnica, as seguradoras chinesas têm melhor desempenho que as seguradoras estrangeiras.
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ChinChang and 張瀞. "Are insurance companies in FHC Performing better?" Thesis, 2017. http://ndltd.ncl.edu.tw/handle/99539384669474998471.
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碩士國立成功大學
財務金融研究所碩士在職專班
105
The main goal of operating enterprises is to increase revenue and to reach sustainable development. After the Financial Holding Company Act was passed, large financial institutions’ services have gradually become more diverse. Among them, insurance channel has been garnering most attention. This study was made to discuss the effectiveness of the management offinancial holding companies and non-financial holding companies, and to see if having more data on the clients in the financial holding companies would allow them to be more superior to the non-financial holding companies. The study used financial data collected from Taiwanese insurance companies from 2007 to 2015, and were analyzed with a multiple regression analysis method. The results obtained from this study showed that premium market share, firm size, financial leverage, return on investment, and expense all affect the effectiveness of both the financial holding companies and non-financial holding companies. However, there is no clear indication on whether the financial holding companies or non-financial holding companies was superior in terms of their performance.
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Chen, Si-Rong, and 陳思蓉. "Insurance Companies Employees' Perceptions of Operational Risks." Thesis, 2017. http://ndltd.ncl.edu.tw/handle/79894121808198501236.
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碩士朝陽科技大學
保險金融管理系
105
As today’s financial market landscape changes rapidly and financial businesses are becoming diversified, the corresponding risk management ability is a must for financial business operators. There are many risks companies may encounter in their operations, such as credit risk, country risk, interest rate risk, operational risk and market risk etc., among which operational risk is the risk that has been drawing increasing attention in recent years. The purpose of this study is to understand to what extent internal and field staff of life insurance companies recognize operational risk, causes of this risk in the operations of their companies, operational risk management and crisis handling therein in their companies, as well as suggest possible improvement in internal education and training for these companies by assessing how the two variables, company characteristics and staff demographics, affect the extent of recognition of the aforementioned four dimensions in hopes of reducing the probability of operational risk occurrence and associated loss. For the purpose of this study, an online questionnaire survey was conducted from October to November, 2016, resulting in 200 valid questionnaires. Linear regression, single factor analysis of variance and independent sample t-test were used for analysis. This study finds (1) whether the participating insurance professionals work for a financial holding company (FHC) or non-FHC has a significant positive effect on the extent of recognition of crisis handling in operational risk management in their companies, with the former having a greater extent of recognition of such than the latter; (2) whether these participants are in a managerial or non-managerial position has a significant positive effect on the extent of recognition of operational risk, with the former having a greater extent of recognition of such than the latter; and (3) the education of the participants has a significant positive effect on the extent of recognition of crisis handling in operational risk management in their companies, with those with a postgraduate degree having a greater extent of recognition of such than those with a high school or vocational high school degree.
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Tsai, Jeffrey Tzu-Hao. "Hedging Longevity Risk for Life Insurance Companies." 2008. http://www.cetd.com.tw/ec/thesisdetail.aspx?etdun=U0001-1507200822455800.
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Ning, Szu-Chi, and 甯思齊. "Determinants of Profitability of Life Insurance Companies." Thesis, 2019. http://ndltd.ncl.edu.tw/handle/23jc7r.
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碩士國立臺灣科技大學
企業管理系
107
The purpose of this research is to discuss the determinants of profitability of life insurance companies in Taiwan. The research examined whether the theory of “three factors of profitability” and being a subsidiary of financial holdings would influence the profitability of life insurance companies or not. The samples used in this research were the life insurance companies in Taiwan (30 companies), covering the period 2008-2017 (ten years). The samples were unbalanced panel data with 222 firm-years. The research used loss ratio and reinsurance ratio to measure the risk of mortality, rate of return of investment to measure the investment performances, operating expense ratio and commission expense ratio to measure operating efficiency, and a dummies variable which represented being a subsidiary of financial holdings. The result of this research showed that only investment performances and operating efficiency significantly influence the profitability of life insurance companies in Taiwan. And whether the insurance companies are subsidiaries of financial holdings or not didn’t significantly influence the profitability of the firms.
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HSIEH, WAN-CHEN, and 謝宛真. "Person Accident Insurance and Financial Performance :Evidence from Non-Life Insurance Companies." Thesis, 2016. http://ndltd.ncl.edu.tw/handle/sz3t4e.
Full textAbstract:
碩士國立中央大學
產業經濟研究所在職專班
104
Personal Accident Insurance and Financial Performance: Evidence from Taiwan Non-Life Insurance Companies. Abstract The purpose of this study is to measure the financial performance of fourteen Taiwan non-life insurance companies by using annual statistics from 2007 to 2013. This study chose eight explanatory variables from other studies and two explanatory variables by me. The two explanatory variables are the ratio of personal accident insurance and the non-life insurance companies operating with the life insurance companies or not. This study also applied the panel data regression with fixed effect to the impact of financial performance. The empirical results indicate: 1. The ratio of reinsurance, return on investment, operating with the life insurance companies or not, and economic growth rate had a positive and significant effect on return on assets. The ratio of loss, financial leverage, and the years in business had a negative and significant effect on return on assets. 2. The ratio of reinsurance, return on investment, operating with the life insurance companies or not, and economic growth rate had a positive and significant effect on return on equity. The ratio of loss had a negative and significant effect on return on equity. 3. The ratio of personal accident insurance, financial leverage, the years in business had a positive and significant effect on operating profit ratio. The ratio of reinsurance and assets had a negative and significant effect on operating profit ratio.
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Chen, Ying-Chen, and 陳穎蓁. "The business variation of equity-linked policy business in financial holding insurance companies versus non-financial holding insurance companies." Thesis, 2016. http://ndltd.ncl.edu.tw/handle/14045731618558987715.
Full textAbstract:
碩士淡江大學
保險學系保險經營碩士班
104
The study discusses the impact of the business variation of equity-linked policy business in financial holding insurance companies versus non-financial holding insurance companies. We used First-order Stochastic Dominance(FSD)、Second-order Stochastic Dominance (SSD)、Almost First-order Stochastic Dominance (AFSD) and Almost Second-order Stochastic Dominance (ASSD) to analyze whether operating the equity-linked policy of financial holding insurance companies of less risk or having better performance. And we used the premium of unit capital as variable of Stochastic Dominance then used market growth rate for variable of OLS to analyze the correlation of financial holding companies or non-financial holding companies. This study shows whole financial holding companies are better than whole market under the FSD. With AFSD we choice 2 financial holding companies to compare 2 non-financial holding companies then find it financial holding companies are better. However whole financial holding companies can’t show that better than non-financial holding companies by ASSD. But Riskiness have significant negative on Financial variable.
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Wen, Yi-Liang, and 溫翊良. "The Analysis of Taiwan Life-insurance Companies to Enter the China Insurance Market." Thesis, 2001. http://ndltd.ncl.edu.tw/handle/57855726721943146966.
Full textAbstract:
碩士淡江大學
國際貿易學系
89
As Mainland China is becoming a member of the World Trade Organization, it has to follow the WTO rules to liberalize its financial system including the insurance market. Following the prosperous of economy and the openness of its financial sector, China’s insurance market, in particular in life insurance sector, has shown a great potential of business for foreign insurance companies. However, there still are a lot of obstacles for foreign, including Taiwan, insurance companies to enter this great market. Therefore, how to enter China’s insurance market and establish strong position in this market has become a interesting issue for Taiwan insurance companies. Thus, the purpose of this thesis intends to explore the obstacles and strategies for Taiwan insurance companies to enter China’s insurance market. To serve this purpose, this thesis first will discuss the increasing competition, both internationally and domestically, in Taiwan’s life-insurance companies market. Then the potential of China’s insurance market will be analyzed. The entry and operational barriers for Taiwan and foreign life-insurance companies in this great potential insurance market and strategies to confront these obstacles will be also examined. Finally, this thesis concludes Taiwan life-insurance companies shall cooperate with foreign insurance companies or China’s banks by using strategic alliance to enter China’s insurance market in order to establish a strong position in this market.
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LEE, GUAN-YI, and 李冠儀. "Business Model of Insurance Brokers Companies Case Study of Golden Insurance Brokers Company." Thesis, 2017. http://ndltd.ncl.edu.tw/handle/4863ux.
Full textAbstract:
碩士實踐大學
企業管理學系碩士在職專班
105
The market competition among insurance companies in Taiwan is becoming more intense in recent years, especially among insurance broker companies. The marketing threats come from not only 493 insurance companies in Taiwan but also bancassurance and direct-selling system. As a result, in order to stay prosperous among the insurance market, insurance companies require more innovative and precise operating strategies. In this thesis, the capabilities of insurance broker companies to expand the market with more innovative, creative operating strategies other than conventional marketing methods are discussed, by analyzing the current insurance market condition and operating policies. With a case study of the operation of Golden Insurance Brokers Company, the effectiveness of innovative operating strategies as well as marketing tools is discussed, which may further be used to establish Business Models for insurance brokers or the insurance companies. This research indicates that the Golden Insurance Broker Company not only revolutionizes conventional employees‘ performance assessment system popular among insurance companies, but also utilizes human-based management system to benefit both its employees and the public. Even without the extensive use of Integrated Marketing Communications tools, it is able maintain a steady increase in the number of its salespersons and company profit for the past 23 years; in addition, it is planned to be listed in stock market in 2018, which will be the 2nd listed insurance broker company in the country. Furthermore, with the in-depth review with managers of the company, the details of how it deals with marketing threats as well as challenges and utilizes its strength against its weakness to stay competitive are revealed.