Artykuły w czasopismach na temat „Life insurance sales”
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Ewanlen, Donald O. "Exploring The Factors That Influence Life Insurance Sales Personnel Performance in Nigeria". INTERNATIONAL JOURNAL OF MARKETING AND COMMUNICATION STUDIES 7, nr 2 (12.10.2023): 17–29. http://dx.doi.org/10.56201/ijmcs.v7.no2.2023.pg17.29.
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To financial analysts, life insurance confers the benefits of investment as well as serve as an instrument of risk management on policyholders. This paper sought to ascertain the roles of organizational factors on life insurance sales personnel performance in Nigeria’s marketplace. This study specifically examines the influence of selection and recruitment, compensation, training, and sales territory on life insurance sales personnel performance. The descriptive survey research design was adopted in the study. The population of study are the entire life insurance sales personnel in the twenty (20) quoted firms in Nigeria. However, the accessible population are the sales personnel in the three (3) top most listed firms with headquarter in Lagos state. Two hundred and fifty (250) copies of a structured questionnaire was administered to sales managers, unit managers and sales executives of AIICO, Leadway Assurance and FBN life. The study found that all the independent variables exhibit significant relationship with sales personnel performance. Specifically, employee compensation exert the strongest influence on sales person’s performance. Closely following is sales territory while selection and recruitment exert the least influence on sales force performance. This study conclude that the independent variables exhibit positive and significant influence on life insurance sales personnel performance. The paper recommend among others that operational managers desirous of outstanding marketplace performance should hire only high caliber employees, thoroughly train, adequately and competitively compensate and equip the sales force with sufficient information that would enable them thrive in their assigned sales territories.
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Rao, Dr D. Jaganmohana, i V. Narasimha Rao. "Sales Force Environment in Life Insurance Corporation of India – An Analysis". International Journal of Scientific Research 3, nr 1 (1.06.2012): 240–45. http://dx.doi.org/10.15373/22778179/jan2014/79.
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Câmpeanu, Cătălin. "DETERMINANTS FOR LIFE INSURANCES, A VIEW ON NOTORIETY". Journal of Financial Studies 8, nr 15 (30.11.2023): 29–41. http://dx.doi.org/10.55654/jfs.2023.8.15.02.
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Life insurances are among the most important products on a mature market, usually having a consistent share of the market. However, with a long development period behind, the differences between countries are quite relevant and that extends not just in terms of market share and coverage but also on factors influencing the acquisition. Dominated by Motor Third Party Liability and with a life expectancy among the lowest in European Union, the Romanian market has yet to achieve a its potential on life insurance. Life insurance is the most common financial instruments to cover the risk of death, terminal illness, or incapacity to work, also having lifelong saving components or investment (united linked). Among the usual determinants when it comes to life insurance, we find the level of income, education, age, employment rate, financial status, or even economic growth. However, some uncommon factors have their role in this process, like culture, family status or even religion. This study shall address the influence of knowledge and information, specifically the notoriety of life insurance products and its correlation with sales, aiming to boost the sales of life insurances in Romania by analysing the correlation between the use of product and notoriety. The level of education, occupation, income, or area of living also play an important role as there is a direct influence on the use of product or notoriety.
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Cho, Kyung Won. "A Study on new Insurance Distribution Channel’s Right to Receive the Duty of Disclosure and Legal Issues: Focusing on AI (Artificial Intelligence) Insurance Solicitors and Insurance Companies Specializing in Insurance Product Sales". Korean Insurance Law Association 16, nr 2 (30.06.2022): 3–46. http://dx.doi.org/10.36248/kdps.2022.16.2.003.
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The insurance industry has undergone many changes due to the era of the 4th industrial revolution, which interconnects our digital and real worlds. Advances in big data have cleared the path for insurers to acquire the material information of the insured. New methods of collecting information about individual customers cause a need to reevaluate responsibilities and rights of both parties. In the current industry, the manufacturing and sales of insurance products is separate; the insurance company is in charge of the manufacturing of insurance products, and sales companies were established exclusively for the sale of insurance products. New types of sales channels such as Artificial Intelligence (AI) insurance solicitors have emerged. In April of 2021, Hanwha Life Financial Services, an insurance product sales company made by Hanwha Life Insurance company, launched, and immediately took the first place in the GA agency rankings. In general, large insurance agencies have larger capital and number of solicitors than small and medium-sized insurance companies. Therefore, it is necessary to emphasize responsibility at scale. According to Article 45 of the Financial Consumer Protection Act, it is not reasonable for an insurance company that entrusts sales to large general agencies, which are larger than small and medium-sized insurance companies, to assume primary responsibility for consumer damage caused by insurance sales. Through the amendment of the Act, major insurance agencies, which are classified as having 500 or more affiliated insurance solicitors, insurance companies specializing in insurance product sales such as Hanwha life financial services, and subsidiary-type insurance agencies are required to assume primary responsibility prior to the insurance company entrusting insurance sales. It is needed the size of the institution should make it possible to impose responsibilities that are reasonable.
With the advent of the 4th industrial revolution, AI insurance solicitors are being introduced in addition to traditional insurance solicitors. It is necessary to revise the Insurance Business Act to allow to sale insurance products by solicits. It is necessary to grant the right to receive the duty of disclosure to exclusive insurance solicitors directly or indirectly under the influence of insurance companies, such as sales training from insurance companies and ethics training to prevent incomplete sales. It is necessary to protect insurance consumers who are trusted with the insurance company’s agent by granting the right to receive the duty of disclosure to the insurance solicitor in charge of explaining insurance products to the subject working as an insurance company’s exclusive solicitor.
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Ericson, Richard V., i Aaron Doyle. "The Institutionalization of Deceptive Sales in Life Insurance". British Journal of Criminology 46, nr 6 (1.11.2006): 993–1010. http://dx.doi.org/10.1093/bjc/azl066.
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Fudholi, Muhammad Alfi, i Umbas Krisnanto. "PROMOTION REDUCTION INCREASED MARKET SHARE INSURANCE INDUSTRY IN INDONESIA". International Journal of Engineering Technologies and Management Research 7, nr 9 (24.09.2020): 39–46. http://dx.doi.org/10.29121/ijetmr.v7.i9.2020.771.
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The purpose of this study is to analyze the effects of distribution channels and promotion costs mediated by sales on the market share of life insurance products in Indonesia, a sample of ten insurance companies with the data used is time series data taken from the 2014 annual report of the company and the total insurance industry sales report taken from 2014 - 2018, the analysis technique used is the path analysis technique using two regression equations which are the development of regression analysis and the sobel test to determine indirect effect, the distribution channels mediated by sales have a significant effect which means that if there is an increase in the number of distribution channels there will be an increase in market share, while the promotion costs in mediating the sales have a significant negative effects indicate that the cost reduction a promotion will increase the market share of life insurance companies in Indonesia.
Motivation/Background: Explain reduction promotion will increase the market share of life insurance companies.
Method: Two regression equations analysis and the sobel test to determine indirect effect.
Results: Reduction in promotion will increase market share.
Conclusions: Mediating sales have a significant negative effect indicate reduction a promotion will increase the market share of life insurance companies.
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Mutembei, Josiah Mutembei. "Impact of Employees Capability Affecting the Growth of Life Insurance Business. A Critical Literature Review". Journal of Actuarial Research 1, nr 1 (28.09.2022): 1–12. http://dx.doi.org/10.47941/jar.1041.
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Purpose: The insurance industry continues to experience various challenges, key among them the poor public perception, which has led to low penetration level. The overall objective of this study was to assess examine impact of employee’s capability affecting the growth of life insurance business.
Methodology: The paper used a desk study review methodology where relevant empirical literature was reviewed to identify main themes and to extract knowledge gaps.
Findings: The study concluded that professional training of life insurance sales staff was lacking in the industry. This implies that a lot needs to be done by the management of life insurance firms in ensuring proper training of sales staff. Lack of professionalism has also been indicated by the study as a contributor to unethical dealings with life insurance customers.
Unique Contribution to Theory, Policy and Practice: The study recommends that insurers must sensitize its members on the best training opportunities to ensure that the services offered to the life insurance clients by the sales staff are value adding and in the best possible way.
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Jadoon, Dildar Khan, Awais Qasim i Dr Asia Bibi. "The Impacts of Ethical Sales Behaviour on Customer Loyalty in the Life Insurance Industry in Pakistan". Journal of Corporate Finance Management and Banking System, nr 43 (8.04.2024): 50–61. http://dx.doi.org/10.55529/jcfmbs.43.50.61.
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The life insurance industry in Pakistan is highly competitive, with customer loyalty playing a crucial role in long-term success. Ethical sales behaviour emerges as a key differentiator, potentially fostering trust and driving positive customer experiences. This research investigates the relationship among ethical sales behaviour, customer trust in company and trust in sales agent, which directly affect customer loyalty in the life insurance industry. The quantitative survey targets customers of five major life insurance companies, ensuring a representative sample across diverse demographics. The questionnaires were sent to all companies customer on a random basis. The questionnaires are distributed with the help of office employee of the companies.The finding of the study shows that there is a direct and positive relation between sales agent ethical sales behaviour and customer loyalty. Furthermore, the trust of the customer in the sales agent and trust of the customer in a company has direct positive mutual relation and customer trust both affect customer loyalty. By demonstrating the tangible benefits of ethical sales behaviour, the study can encourage companies to implement and prioritize ethical practices. The identified key drivers of customer loyalty can guide training programs and performance evaluations for insurance agents, ultimately fostering a culture of ethical conduct within the industry.
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Hinrichs, Gerriet, i Henning Bundtzen. "Impact of COVID-19 on personal insurance sales – Evidence from Germany". Financial Markets, Institutions and Risks 5, nr 1 (2021): 80–86. http://dx.doi.org/10.21272/fmir.5(1).80-86.2021.
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The occupation of insurance agent involves establishing a relationship of trust with the customer and providing personal and customized advice as a prerequisite for successful sales. This paper summarizes the scientific discussion about the occupation of an insurance salesperson. Coronavirus disease 2019 restrictions have limited face-to-face meetings and complicated large parts of this occupation. The main purpose of the research is to analyze the impact of these restrictions on the sales of 130 insurance branches, comparing the sales of 2019 and 2020 separately by insurance type. This period was chosen because it allows for the usual seasonal volatility to be taken into account. To differentiate according to the type of insurance sold is therefore of interest, because large differences with regard to demand generation and the use of existing customer relationships are to be expected. It shows that consulting-intensive new contracts in the life insurance segment declined noticeably, while the upselling of existing contracts in the non-life insurance segment increased significantly. The research empirically confirms and theoretically proves the importance of personal contact with the customer in the sale of life insurance and pension plans as well as the value of technical tools in upselling non-life policies. The insights from this exceptional coronavirus disease 2019 episode can also be useful in normal times for sales managers in managing insurance premiums to be sold. Further research as well as practitioners should concentrate on shock-resistant consulting approaches and techniques.
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Yadav, Rajesh K. "Impact of Claim Settlement on Sales of Life Insurance Policies - A Case Study of LIC of India". International Letters of Social and Humanistic Sciences 23 (marzec 2014): 1–6. http://dx.doi.org/10.18052/www.scipress.com/ilshs.23.1.
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Claim settlement is one of the most important parts of the life insurance services. Person who is holding or planning for the life insurance will always want to have prompt claim settlement. For any insurance company sales of insurance policies is the biggest source of revenue and if claim are not properly settled then it will affect its sales. The study is based on the secondary data collected from IRDA annual report and it shows that LIC of India continue to grow due to its prompt claim settlement, highest insurance premium collections and highest number of policies sold.
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Dr.R.Indirajit, S. Maheswari. "Impact of Claim Settlement on Sales of Life Insurance Policies – A Case Study of LIC of India". International Journal of Scientific Research and Management (IJSRM) 5, nr 8 (14.08.2017): 6653–58. http://dx.doi.org/10.18535/ijsrm/v5i8.11.
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Claim settlement is one of the most important parts of the life insurance services. Person who is holding or planning for the life insurance will always want to have prompt claim settlement. For any insurance company sales of insurance policies is the biggest source of revenue and if claim are not properly settled then it will affect its sales. The study is based on the secondary data collected from IRDA annual report and it shows that LIC of India continue to grow due to its prompt claim settlement, highest insurance premium collections and highest number of policies sold.
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RASHID, MOHAMMAD. "FINANCIAL STATEMENT ANALYSIS OF IDBI FEDERAL LIFE INSURANCE, NEW DELHI‖". INTERANTIONAL JOURNAL OF SCIENTIFIC RESEARCH IN ENGINEERING AND MANAGEMENT 08, nr 04 (1.05.2024): 1–5. http://dx.doi.org/10.55041/ijsrem32550.
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Financial statement analysis provides a comprehensive understanding of IDBI Federal Life Insurance's financial health and operational efficiency for the period 2022-2023. In conjunction with this analysis, an overview of the market size and valuation of the company within the insurance industry is essential for stakeholders to gain a holistic perspective. The insurance industry in India has witnessed significant growth over the past few years, driven by factors such as increasing awareness about financial security, rising disposable income, and favorable regulatory reforms. Within this landscape, IDBI Federal Life Insurance operates as a prominent player, contributing to the overall market size. The market size of the insurance industry encompasses various segments, including life insurance, health insurance, and general insurance. As a life insurance company, IDBI Federal Life Insurance primarily operates within the life insurance segment. The market size of the life insurance sector is influenced by factors such as demographic trends, economic conditions, and regulatory policies. Despite the challenges posed by the COVID-19 pandemic, the life insurance industry in India has demonstrated resilience, with continued growth in premium income and policy sales. IDBI Federal Life Insurance, leveraging its market presence and distribution network, has contributed to the expansion of the overall market size by attracting customers and offering a diverse range of insurance products and services.
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Truesdell, Susie C., David J. Skorton i Ronald M. Lauer. "Life Insurance for Children With Cardiovascular Disease". Pediatrics 77, nr 5 (1.05.1986): 687–91. http://dx.doi.org/10.1542/peds.77.5.687.
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To determine the life insurability of young people with cardiovascular disease, we sent questionnaires to 99 life insurance companies concerning 18 congenital defects, rheumatic heart disease, and four dysrhythmias. We received 50 responses (50%) from companies whose sales make up 41% of the life insurance market. The concensus of insurability for the defects listed was: standard rates—mild pulmonic stenosis, rheumatic fever without carditis, mitral valve prolapse without regugitation, and the following postoperative lesions: patent ductus arteriosus, atrial septal defect, pulmonic stenosis, ventricular septal defect; uninsurable—most unoperated lesions, postoperative lesions with complex dysrrhythmias, severe aortic insufficiency, idiopathic hypertrophic subaortic stenosis, Ebstein's anomaly, truncus arteriosus, tricuspid atresia; insurable at increased rates—most other defects, including dextrotransposition of the great vessels, postoperative aortic stenosis, mild aortic insufficiency, postoperative coarctation of aorta, postoperative tetralogy of Fallot, and small ventricular septal defect. We conclude that life insurance is available to many children with cardiovascular disease, including most postoperative patients. Whether the increased rates requested for some defects are prohibitive is a matter to be decided by each family.
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Tseng, Lu-Ming, Yue-Min Kang i Chi-Erh Chung. "The insurance agents’ intention to make inappropriate product recommendations". Journal of Financial Regulation and Compliance 24, nr 3 (11.07.2016): 230–47. http://dx.doi.org/10.1108/jfrc-03-2015-0014.
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Purpose This case study aim to investigate the impacts of insurance agents’ positive attitude toward inappropriate product recommendations on the insurance agents’ intention to make the inappropriate product recommendations. This study further checks how the attitude and intention could be enhanced by the insurer’s manipulation of sales compensations, the agents’ perception of information asymmetry between customers and insurance agents and the insurer’s sales orientation. Design/methodology/approach Full-time insurance agents from the life insurance industry in Taiwan were surveyed. To test the hypotheses, hierarchical regression analyses were used in the study. Findings The main results showed that the respondents’ positive attitude toward inappropriate product recommendations was the influential predictor of the respondents’ behavioral intention. Nevertheless, the positive attitude was enhanced by the manipulation of sales compensations and the insurer’s sales orientation. Originality/value Very few studies have investigated the relationships among information asymmetry between customers and agents, management’s sales orientation, management’s manipulation of sales compensations and the problems of selling unsuitable insurance products to customers. This study may contribute to the relevant literature by discussing these issues.
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Graciafernandy, Maria Augustine, Suhaji Suhaji i Tantri Widiastuti. "Faktor-faktor yang Mempengaruhi Kinerja Tenaga Penjualan: Keinovatifan dan Orientasi Pelanggan". Jurnal Ilmiah Aset 24, nr 1 (31.03.2022): 37–47. http://dx.doi.org/10.37470/1.24.1.199.
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Salesforce is the spearhead of marketing in a business. Salesforce also plays role as a representative of the company’s performance and image. This study based on the decreasing of salesforce performance on life insurance industry. This study aimed to analyse the effect of salesforces innovativeness and customer orientation on salesforce performance. The main data in this study was collected from the questionnaires answered by the sales forces of life insurance industry in Semarang. The response given by 52 respondents from joint venture insurance companies who hold an AAJI license then be analyzed by using SPSS. The result empirically showed that customer orientation had a positive effect on sales force performance. On the other hand the variable sales force innovativeness did not give the same effect as customer orientation. Simultaneuosly all independen variables had a significant effect on sales force performance.
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Ibrar, Muhammad. "The Impact of Sales Promotion and Product Branding on Company Performance (“STATE LIFE” Insurance Industry of Pakistan)". International Letters of Social and Humanistic Sciences 50 (marzec 2015): 129–36. http://dx.doi.org/10.18052/www.scipress.com/ilshs.50.129.
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Purpose: The aim of this study is to investigate how to effect of product branding and sales promotion to an organization growth has its performance. the insurance industry because the growth of this industry is mainly tied to the success of good product brands and sales promotion. However, the organizational performance and increase in profit and revenue should be understood by the content. The study also aims to show focus how to insurance industry effect the performance of slae promotion and product branding. Design/methodology/approach: Survey of insurance companies is to be considered but due to the large number of the operators, the authors chose only one case sample of State Life Insurance which has a larger sales outlet and good number of branches nationwide. A total of 60 field survey questionnaires were distributed while 14 refined. Findings: The data collected and analyzed using the chi-square (x2) method. Conclution: Hence, our conclusions from findings show that product branding and sales promotion affect organizational growth. Originality/value: By reviewing the different finding that the Sale promoton and product branding. The contribution of this paper is to look at how to finding the effective solution of sale promotion and product branding to effect the performance of insurance idustry. Study of paper: The study of this paper is exploratry is qualitative study of research.
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CORTES, BRIAN SHANE M. "Motivation and Work Engagement of Preneed Life Insurance Sales Agents in Davao City". International Journal of Research and Innovation in Social Science VIII, nr II (2024): 32–63. http://dx.doi.org/10.47772/ijriss.2024.802004.
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This study aimed to determine the relationship between motivation and work engagement. The objectives of the study include ascertaining the significant relationship that exists between motivation and work engagement among life insurance agents and identifying which domain of motivation best influences the work engagement of preneed life insurance agents. The study used quantitative, non-experimental research design where adapted survey questionnaires were used as the instrument. The study used simple random sampling technique in selecting the 400 preneed life insurance sales agents from identified life insurance companies in Davao City. Data collected were analysed using mean, Pearson r and regression. The findings of the study reveal that the level of motivation and work engagement among respondents was high. Similarly, the study found out that motivation is significantly correlated with work engagement. The result implies that insurance agents tend to improve and increase their work engagement when motivated, otherwise detached. Further, the researcher has established identified regulation as the best influence of work engagement.
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Komang Dharmi Yudhi Utami, Ni, Trianasari Trianasari i Putu Indah Rahmawati. "THE EFFECT OF RELATIONSHIP MARKETING AND CROSS SELLING ON THE MARKETING PERFORMANCE OF INSURANCE PRODUCTS PT SUN LIFE INDONESIA SALES OFFICE SINGARAJA". JMM UNRAM - MASTER OF MANAGEMENT JOURNAL 11, nr 3 (9.08.2022): 179–91. http://dx.doi.org/10.29303/jmm.v11i3.722.
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This study aimed to investigate the effect of relationship marketing and cross selling, either partially or simultaneously, toward the marketing performance of insurance products at PT. Sun Life Indonesia Sales Office Singaraja. The data collection technique was carried out a questionnaire method filled in via Google Form with a Saturated Sampling system with 110 samples of respondents from the financial consultant team. The data analysis technique used multiple linear regression analysis test. The results of the research show that relationship marketing and cross selling have a positive and significant effect on the marketing performance (Y) of insurance products at PT. Sun life Indonesia Sales Office Singaraja, either partially or simultaneously. That is, the stronger the relationship between companies and customers, the marketing performance increases at PT. Sun life Indonesia Sales Office Singaraja.
This study aimed to investigate the effect of relationship marketing and cross selling, either partially or simultaneously, toward the marketing performance of insurance products at PT. Sun Life Indonesia Sales Office Singaraja. The data collection technique was carried out a questionnaire method filled in via Google Form with a Saturated Sampling system with 110 samples of respondents from the financial consultant team. The data analysis technique used multiple linear regression analysis test. The results of the research show that relationship marketing and cross selling have a positive and significant effect on the marketing performance (Y) of insurance products at PT. Sun life Indonesia Sales Office Singaraja, either partially or simultaneously. That is, the stronger the relationship between companies and customers, the marketing performance increases at PT. Sun life Indonesia Sales Office Singaraja.
Penelitian ini bertujuan untuk menganalisis pengaruh relationship marketing dan cross selling, baik secara partial maupun simultan, terhadap kinerja pemasaran produk asuransi di PT. Sun Life Indonesia Sales Office Singaraja. Teknik pengambilan data menggunakan metode kuisioner yang diisi melalui Google Form dengan sistem Sampling Jenuh dengan 110 sampel responden tim financial consultant. Teknik analisis data menggunakan uji analisis regresi linear berganda. Hasil penelitan menunjukkan bahwa relationship marketing dan cross selling berpengaruh positif dan signifikan terhadap kinerja pemasaran (Y) produk asuransi di PT. Sun life Indonesia Sales Office Singaraja, baik secara parsial maupun simultan. Artinya, semakin kuat hubungan antar perusahaan dengan pelanggan, maka kinerja pemasaran meningkat di PT. Sun life Indonesia Sales Office Singaraja.
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Crosby, Lawrence A., Kenneth R. Evans i Richard S. Jacobs. "Effects of Life Insurance Price Rebating on Simulated Sales Encounters". Journal of Risk and Insurance 58, nr 4 (grudzień 1991): 583. http://dx.doi.org/10.2307/253076.
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Tanaka, Takashi. "A Study of Reliance in Sales Channel of Life Insurance". Hokengakuzasshi (JOURNAL of INSURANCE SCIENCE) 2010, nr 611 (2010): 611_81–611_100. http://dx.doi.org/10.5609/jsis.2010.611_81.
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Tsuzuki, Yukie, Tamao Matsui i Takashi Kakuyama. "Relations between Positive and Negative Attributional Styles and Sales Performance as Moderated by Length of Insurance Sales Experience among Japanese Life Insurance Sales Agents". Psychology 03, nr 12 (2012): 1254–58. http://dx.doi.org/10.4236/psych.2012.312a186.
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Pluzhnik, A. B. "Improving Features of Sales of Health Insurance Products". Management Sciences 13, nr 3 (28.10.2023): 108–18. http://dx.doi.org/10.26794/2304-022x-2023-13-3-108-118.
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Insurance protection of the population is of particular paramount importance during pandemics, economic transformation and other complex processes in the life of society. The paper examines the state of the insurance market during the peak of the COVID-19 pandemic, as well as the main trends in its development during 2022. The purpose of the study is to improve measures for the sale of health insurance products in order to increase the profitability of insurers’ operations. In difficult and challenging economic conditions, a comprehensive marketing program will help insurance companies to continue their development and maintain financial stability. The proposed activities include the development of new products and improvement of the conditions already existing in the market; active offer of voluntary health and medical insurance and new programs for migrants traveling abroad; study of the financial situation of corporate insurers, individual entrepreneurs; sales via the Internet; application of discounts for prolongation of contracts; expansion of digitalization in insurance transactions, etc. In the course of the work, general scientific methods were used: analysis and synthesis, observation, grouping and comparison. The results of the study can be useful to employees of insurance organizations, teachers and students of economic disciplines.
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Seri Utami Ningsih, SH. "Direct Selling dalam Usaha Perasuransian Perspektif Hukum Islam". Al - Muamalat: Jurnal Hukum dan Ekonomi Syariah 5, nr 1 (27.09.2020): 87–103. http://dx.doi.org/10.32505/muamalat.v5i1.1504.
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Insurance companies such as PT. Life Insurance Central Asia Raya, PT. Prudential Life Insurance, PT. Generali Indonesia Life Insurance, PT. Tugu Mandiri Life Insurance, PT. MNC Life Insurance, PT. Asuransi Jiwasraya (Persero), and PT. Sequis Life Life Insurance has marketed one of its insurance products with a direct sales system or better known as direct selling. Direct selling does not include the marketing channels stipulated in the Financial Services Authority Regulation (POJK) No. 23 of 2015 concerning Insurance Products and Marketing of Insurance Products. Based on the POJK, direct selling practiced by insurance companies is illegal. Direct selling is developed by insurance agents by recruiting insurance agents in a row. Otoritas Jasa Keuangan (OJK) confirms direct selling as the development of insurance marketing methods. Supervision is unmindful of the principle of legal certainty, professionalism, and openness. In sadd az}-z}ariah, negligent supervision of the OJK is an act that endangers health insurance. OJK must review the direct selling marketing developed by insurance agents further
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Taek Yi, Ho, Alan J. Dubinsky i Chae Un Lim. "Determinants of telemarketer misselling in life insurance services". Journal of Services Marketing 26, nr 6 (7.09.2012): 403–18. http://dx.doi.org/10.1108/08876041211257891.
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PurposeThe purpose of the article is to present and test a model regarding important factors that may help reduce unethical behavior (i.e. misselling) of salespeople in the financial services industry.Design/methodology/approachTo test the hypotheses, telemarketers from the life insurance industry in South Korea were surveyed (n=204).FindingsUsing structural equation modeling, the results indicate that: ethics training is positively related to salesperson ethical attitude; ethical climate is positively related to salesperson ethical attitude; selling pressure is unrelated to ethical attitude; competitive intensity is positively related to salesperson ethical attitude; competitive intensity is unrelated to misselling; and misselling is inversely related to salesperson ethical attitude, positively associated with product complexity, and positively related to product variety.Research limitations/implicationsFuture empirical work could: investigate different variables from those utilized in this study; consider inter‐country and gender differences; use alternate sources of data to examine stability of the findings; and employ samples of firms in other industries and other marketing channels. Limitations include a limited number of study variables, use of solely the telemarketing channel for life insurance, a preponderance of female respondents, and potential for socially desirable responses.Practical implicationsManagement should seek to maintain a high ethical attitude among sales agents to help foster a reduction in unethical behavior. Sales personnel should receive extensive ethics training to help enhance their ethical attitude in the job. Salespeople should also seek to establish and maintain long‐term relationships with their customers and to pursue long‐term profitability. Sales managers should seek to educate consumers about the various types of financial products, their respective strengths and weaknesses, and the appropriate conditions under which they should be purchased.Originality/valueThe potential for financial services industry salespeople to behave unethically has received extensive research attention. A key area, though, which has been virtually ignored is antecedents of misselling of financial services. The article seeks to address partially this gap in the literature.
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Aris, Hardiyanti, Yusmanizar Yusmanizar i Fitriana Fitriana. "The Influence of Leadership and Communication of Srikandi Celebes Agency Leaders on the Level of Life Insurance Sales in Makassar City". Journal of Management and Administration Provision 3, nr 3 (29.12.2023): 105–14. http://dx.doi.org/10.55885/jmap.v3i3.304.
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Leadership and communication are the most fundamental aspects in an organization, especially in a marketing team that requires coordination from various parties towards the same goal. This research focuses on the influence of leadership and communication from the leader of Srikandi Celebes Agency on the level of life insurance sales in Makassar City. This research method employs a quantitative approach by collecting data through questionnaires, consisting of 45 statements distributed to agents of Srikandi Celebes Agency in Makassar City. The sample size used in this research is 38 agents, selected using a census technique. Multiple linear regression analysis is utilized to measure the relationship between leadership and communication variables of the leader and the level of life insurance sales. The research results indicate that effective leadership and communication from the leader of Srikandi Celebes Agency significantly influence the level of life insurance sales in Makassar City. The coefficient of determination (R2) is 0.977 or 97.7%, indicating a strong relationship between the independent variables, leadership (X1) and communication (X2), and the dependent variable, sales level (Y). This suggests a close relationship between the variables. Based on the collaborative research conducted, there is a significant influence of leadership (X=) and communication (X2) on sales level (Y).
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Hamidah, Nur, i Muhammad Saleh. "STRATEGI PEMASARAN PT. ASURANSI ALLIANZ LIFE SYARIAH KPM PAGARALAM". Jurnal Pendidikan Ekonomi (JURKAMI) 8, nr 1 (9.04.2023): 120–29. http://dx.doi.org/10.31932/jpe.v8i1.2311.
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Increasingly more people are becoming aware of the value of having insurance protection, and the government is supporting the expansion of the life insurance sector. Due to the introduction of new companies, the competition in the sharia life insurance market is becoming more intense, necessitating the use of an effective and efficient marketing strategy by PT. Asuransi Allianz Life Syariah in order to remain competitive and hold onto its market share. The goal of this study was to ascertain the Allianz Life Syariah Insurance's Pagaralam City marketing strategy from a sharia perspective. This study falls under the category of qualitative research. Documentation, observation, and in-person interviews with managers, sales representatives, marketers, and employees are the approaches utilized to gather research data. This study uses an inductive, continuous analytical method with the intention of producing concepts. According to the data analysis, Allianz Life Syariah, Pagaralam City, has adopted the following marketing tactics: market segmentation, selling, service, and development. From a sharia perspective, Asuransi Allianz Life Syariah Kota Pagaralam's marketing approach is entirely compliant with syariah because its marketers constantly follow Islamic marketing principles
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Ayu Syahputri Gurning, Febby, i Yusrizal Yusrizal. "Strategi Pemasaran Agen Dalam Mempertahankan Loyalitas Nasabah di PT Prudential Life Assurance Cabang Binjai". El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam 4, nr 1 (15.08.2022): 190–203. http://dx.doi.org/10.47467/elmal.v4i1.1359.
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Prudential Life Assurance, a branch of Binjai, is a company engaged in insurance. In an effort to increase sales of insurance policies in Binjai City generally use several marketing strategies. The marketing strategy is implemented by the insurance agent/consultant of the company. This type of research is descriptive with a qualitative approach. Data collection used by using interviews, study documentation and observation. The study in this research is to find out "Agent Marketing Strategy in Maintaining Customer Loyalty at PT Prudential Life Assurance Binjai branch with research aspects: insurance products, premium prices, promotions, places, people and physical facilities. The results showed that the branch of PT. Prudential Life Assrance Binjai branch has been able to carry out the marketing strategy created and determined by the company through several patterns, namely mobilizing its agents/consultants to the maximum in the field with adequate knowledge about insurance products and benefits so that they have the ability to explain them to potential customers/prospective consumers and marketing patterns in a comprehensive manner. Online through the company's website which is promoted through various electronic media. The technical marketing of various types of insurance owned by the company is done by moving agents/consultants to visit from house to house (door to door). communities that have been targeted by agents/consuls previously. The second technique is to hold meetings with groups of people both in offices and plantation companies and other economic institutions so that the sale of policies can be done collectively. Thus the branch company PT. Prudential Life Assurance Binjai branch managed to increase sales of insurance policies from the previous year, 2017. The conclusion of the research is that with a marketing strategy by visiting prospective customers from house to door (door to door) conducting marketing to many people at once in various agencies and companies, the company Prudential Life Assurance insurance at the Binjai branch has succeeded in gradually increasing sales of insurance policies from 2015-2021.
Keywords: Strategy, Marketing, Prudential Life Assurance Binjai
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Gurning, Febby Ayu Syahputri, i Yusrizal Yusrizal. "Strategi Pemasaran Agen Dalam Mempertahankan Loyalitas Nasabah di PT Prudential Life Assurance Cabang Binjai". El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam 4, nr 1 (25.04.2022): 91–104. http://dx.doi.org/10.47467/elmal.v4i1.1360.
Pełny tekst źródłaStreszczenie:
Prudential Life Assurance, a branch of Binjai, is a company engaged in insurance. In an effort to increase sales of insurance policies in Binjai City generally use several marketing strategies. The marketing strategy is implemented by the insurance agent/consultant of the company. This type of research is descriptive with a qualitative approach. Data collection used by using interviews, study documentation and observation. The study in this research is to find out "Agent Marketing Strategy in Maintaining Customer Loyalty at PT Prudential Life Assurance Binjai branch with research aspects: insurance products, premium prices, promotions, places, people and physical facilities. The results showed that the branch of PT. Prudential Life Assrance Binjai branch has been able to carry out the marketing strategy created and determined by the company through several patterns, namely mobilizing its agents/consultants to the maximum in the field with adequate knowledge about insurance products and benefits so that they have the ability to explain them to potential customers/prospective consumers and marketing patterns in a comprehensive manner. Online through the company's website which is promoted through various electronic media. The technical marketing of various types of insurance owned by the company is done by moving agents/consultants to visit from house to house (door to door). communities that have been targeted by agents/consuls previously. The second technique is to hold meetings with groups of people both in offices and plantation companies and other economic institutions so that the sale of policies can be done collectively. Thus the branch company PT. Prudential Life Assurance Binjai branch managed to increase sales of insurance policies from the previous year, 2017. The conclusion of the research is that with a marketing strategy by visiting prospective customers from house to door (door to door) conducting marketing to many people at once in various agencies and companies, the company Prudential Life Assurance insurance at the Binjai branch has succeeded in gradually increasing sales of insurance policies from 2015-2021.
Keywords: Strategy, Marketing, Prudential Life Assurance Binjai
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Tseng, Lu-Ming, i Tsu-Wei Yu. "Disclosure of sales compensations and product recommendations". Marketing Intelligence & Planning 37, nr 3 (7.05.2019): 310–24. http://dx.doi.org/10.1108/mip-05-2018-0160.
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Purpose The purpose of this paper is to examine the influence of disclosure of sales compensations on insurance brokers’ intention to make inappropriate product recommendations. Design/methodology/approach This research examines the insurance brokers’ intention to make inappropriate product recommendations through an application of the theory of planned behavior. Surveys are used as the research instrument, and the hypotheses are tested with a between-subjects experimental design. One case of mandatory disclosure and one case of non-mandatory disclosure are compared in the research. Findings The results indicate that the disclosure of sales compensations is significantly associated with the subjective norms from the official authority and perceived behavioral control (PBC). The results of this study also indicate that, when the disclosure is mandatory, the PBC has a stronger effect on the insurance brokers’ intention to make biased product recommendations than dose the attitude and subjective norms. When the disclosure is non-mandatory, however, the subjective norms have a stronger effect on the insurance brokers’ intention. Originality/value The impacts of compensation disclosures on the financial professionals’ product recommendations have been less examined. This study could make a contribution to the literature by providing some empirical observations from the views of Taiwan’s life insurance brokers.
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Priyanto, Adi, Andi Vita Sukmarini i Mujahid Mujahid. "Integrated Marketing Communication Strategy in Insurance Business Competition (Case Study of Allianz Life Indonesia Insurance in North Penajam Paser Regency)". Journal of Management and Administration Provision 3, nr 3 (29.12.2023): 134–42. http://dx.doi.org/10.55885/jmap.v3i3.324.
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This research aims to analyze integrated marketing communication strategies in insurance business competition (Case Study of Allianz Life Indonesia Insurance in North Penajam Paser Regency) with various supporting and inhibiting factors. The research method used is descriptive qualitative with data collection through in-depth interviews and documentation. Data analysis uses participatory observation. The results of the research show that, of the 5 (five) indicators in the integrated marketing communication strategy, there are 4 (four) strategies implemented by Allianz agents in North Penajam Paser Regency, namely advertising, direct marketing, sales promotion and personal sales, although they are still less than optimal. The result of the stidy showed that Allianz agents in North Penajam Paser Regency have implemented integrated marketing communication strategies, especially personal selling and sales promotion strategies which are most dominantly used by Allianz agents in the competitive insurance business in North Penajam Paser Regency.
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Tseng, Lu-Ming, i Yue-Min Kang. "The influences of sales compensations, management stringency and ethical evaluations on product recommendations made by insurance brokers". Journal of Financial Regulation and Compliance 22, nr 1 (4.02.2014): 26–42. http://dx.doi.org/10.1108/jfrc-08-2012-0031.
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Purpose – The purpose of this paper is to explore the impacts of the size and timing of sales compensations, the management stringency of the insurer and the insurance broker's own moral views on product recommendations made by the brokers. Design/methodology/approach – The data used in this research were gathered from life insurance broker companies in Taiwan. Findings – The results showed that the sales compensations, perceived leniency of the insurer's underwriting and claim policy would affect the product recommendations made by the brokers. Practical implications – Insurance brokers are one of the most important marketing channels in the insurance industry. However, using the insurance brokers to sell insurance may result in some ethical problems. For example, some insurance brokers may sell insurance to high-risk customers because the high-risk customers may prefer to buy more insurance and that means more sales compensations can be earned. The findings of this research may have some implications for insurance management and insurance regulation. Originality/value – This study contributes to the understanding of insurance brokers' responses to adverse selection problems (high-risk customers may prefer to buy more insurance) and product recommendation decisions. The issue has been less mentioned in the financial regulation literature.
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Ransom, Roger L., i Richard Sutch. "Tontine Insurance and the Armstrong Investigation: A Case of Stifled Innovation, 1868–1905". Journal of Economic History 47, nr 2 (czerwiec 1987): 379–90. http://dx.doi.org/10.1017/s0022050700048130.
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Tontine insurance, introduced in 1868, combined the features of life insurance with an unusual old-age saving plan. A portion of the annual premium was accumulated in a fund that was divided among the surviving policyholders after twenty years. By 1905, two-thirds of all life insurance in force was of this type. Despite consumer appeal, sales of tontine policies were prohibited in 1906 after the Armstrong Investigation charged the tontine business with corruption and extravagance. We argue that tontine insurance was actuarially sound and an attractive life-cycle investment. Prohibition was probably unnecessary.
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Danso, Kwaku Sarpong. "The Impact of Mis-Selling on Customer Trust in the Life Insurance Industry". European Modern Studies Journal 7, nr 3 (3.09.2023): 447–53. http://dx.doi.org/10.59573/emsj.7(3).2023.42.
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Even though there has been steady growth in the insurance industry in Ghana, mis-selling has been a significant impediment to the development or penetration of the life insurance industry. This has impacted the level of clients’ trust in insurance companies in Ghana. The research assessed the negative effect mis-selling has on clients’ trust. It was carried out in the Kumasi Metropolis, the second largest city in Ghana. Existing clients of life insurance companies were interviewed. In total ten (10) respondents were interrogated. According to the findings, 60% of the respondents have experienced some level of mis-selling which has impacted their level of trust for insurance companies, which affected sales growth for many life insurance companies.
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Мельничук, Юлія Миколаївна, i Олена Валентинівна Гарматюк. "FACTORS OF INFLUENCE ON SALES ACTIVITIES OF INSURERS OF LIFE INSURANCE". Economies' Horizons, nr 1(4) (30.04.2018): 60–66. http://dx.doi.org/10.31499/2616-5236.1(4).2018.132246.
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Janowski, Andrzej. "Personality Traits and Sales Effectiveness: The Life Insurance Market in Poland". Journal of Entrepreneurship, Management and Innovation 14, nr 1 (2018): 143–60. http://dx.doi.org/10.7341/20181418.
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Irham Ishak, Wan, Shameem Rafik-Galea i Chan Mei Yuit. "LANGUAGE ALTERNATION IN THE “CLOSING PRESENTATION” OF LIFE INSURANCE SALES TALK". Malaysian Journal of Languages and Linguistics (MJLL) 1, nr 1 (1.12.2012): 30. http://dx.doi.org/10.24200/mjll.vol1iss1pp30-44.
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Creek, Drew Vande. "Solomon Huebner and the Development of Life Insurance Sales Professionalism, 1905–1927". Enterprise & Society 6, nr 4 (grudzień 2005): 646–81. http://dx.doi.org/10.1017/s1467222700014993.
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In 1927 the National Association of Life Underwriters collaborated with Professor Solomon Huebner of the University of Pennsylvania to found the American College of Life Underwriters, an institution devoted to establishing and maintaining professional standards for the nation’s life insurance salesmen. Their work sheds light on the new politics of expertise and associations that emerged in the 1920s. While many historians have portrayed the period’s experts as purveyors of new, technical knowledge and apolitical agents of an inevitable modernity, Huebner in fact brought little real knowledge of insurance to his work. Instead, he introduced the industry’s prevailing ideology of public service into his classroom, and it informed his professionalization project as well. The professor worked as a campaigner for professionalism, attempting to persuade life insurance salesmen, industry executives, and the American public to accept the notion that salesmen could become professionals. Ultimately, Huebner’s career shows how a Progressive expert worked directly with a trade association representing a disorganized industry. But instead of merely seeking to build new capacity for economic planning and stabilization, Huebner and the association boldly positioned their industry as a voluntary and private means of providing Americans with basic social welfare benefits and paved the way for the growth of the modern financial services industry.
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Merkel, Philip L. "Going National: The Life Insurance Industry's Campaign for Federal Regulation after the Civil War". Business History Review 65, nr 3 (1991): 528–53. http://dx.doi.org/10.2307/3116767.
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Life insurance corporations were among the first businesses to expand their activities across state lines in the mid-nineteenth century. Yet their efforts were often impeded by protectionist state laws and uneven state regulations. The industry reacted by forming a trade association that pressed for federal regulation of multistate insurance sales. This article examines the life insurance industry's attempts in Congress and in the courts to alter the balance of federalism and to promote free trade in a growing national market.
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Leong, Siew Meng, Paul S. Busch i Deborah Roedder John. "Knowledge Bases and Salesperson Effectiveness: A Script-Theoretic Analysis". Journal of Marketing Research 26, nr 2 (maj 1989): 164–78. http://dx.doi.org/10.1177/002224378902600203.
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Salesperson effectiveness in customer interaction is evaluated from a script-theoretic perspective. Differences in salesperson performance are traced to differences in knowledge of the actions and events across and within sales situations and the salesperson's ability to abstract from relevant previous experience. Results of two experiments conducted in an insurance context indicate that, as hypothesized, high effective salespeople provided more elaborate, distinctive, contingent, and hypothetical scripts than low effective salespeople. Moreover, these effects were accentuated in less typical sales situations, as suggested by results in the homeowner's insurance but not the life insurance experiment. Theoretical, methodological, and managerial implications of the findings are discussed.
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Rahmani, Nima. "Evaluating of the Effectiveness of Television Advertisement of Life Insurance and Investing in Ma Insurance Company". Modern Applied Science 10, nr 12 (21.10.2016): 222. http://dx.doi.org/10.5539/mas.v10n12p222.
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Nowadays, corporates require purposeful and effective marketing activities to survive and sell their goods and services in this ever-growing competitive world. Marketing is an issue having a significant role in marketing process of a corporate and it is dedicated a huge amount of marketing budget. Measuring effectiveness can be implemented through considering three steps: advertising inputs (e.g. advertising intensity, advertising content, and advertising budget); mental processing of customers during and after the ads broadcast; and finally advertising outcomes (e.g. resulting change in sales, income, and profit). In addition to the measurement of ads effectiveness on the customers mind, in the present study the impact of such ads on the sales was also tackled based on the AIDA hierarchy of effects model. Four hypotheses were considered for testing the research model. After the reliability and validity confirmation by, respectively, Cronbach's alpha and content validity, 400 questionnaires were distributed amongst the customers of “Ma” insurance company in Tehran, chosen base on the simple random sampling. Due to the rejection of data normality hypothesis, two Wilcoxon non-parametric tests, namely sign test and signed-rank test, were used. After statistical tests, hypotheses 3 and 4 (i.e. ads effectiveness on individuals willingness and action) were rejected. Finally, following the interpretations of results obtained from data analysis, the practical recommendations were presented for corporates and advertisers.
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Филина, М. А. "Features of the current stage of life insurance development in Russia". Экономика и предпринимательство, nr 8(145) (19.01.2023): 87–90. http://dx.doi.org/10.34925/eip.2022.145.8.015.
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В современных условиях страхование жизни является драйвером развития страхового рынка страны. Среди тенденций его функционирования - высокие темпы роста страховых премий и выплат, растущий объем страховых резервов, скорость их оборачиваемости и т.д. Не смотря на позитивные тенденции, в данном сегменте сохраняются факторы, сдерживающие его развитие: макроэкономическая нестабильность, зависимость страховщиков от банковского канала продаж, зарегулированность продуктов страхования жизни мегарегулятором и т.д. В качестве приоритетного направления развития данного вида страхования предложено введение долевого страхования жизни. In modern conditions, life insurance is the driver of the development of the country's insurance market. Among the trends of its functioning are the high growth rates of insurance premiums and payments, the growing volume of insurance reserves, the speed of their turnover, etc. Despite the positive trends, factors that hinder its development remain in this segment: macroeconomic instability, the dependence of insurers on the bank sales channel, the overregulation of life insurance products by a mega-regulator, etc. The introduction of shared life insurance is proposed as a priority direction for the development of this type of insurance.
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Korneyev, Maxim, German Stoianov i Anton Grytsenko. "Background of insurance service and strategy for particular customer circles". Geopolitics under Globalization 1, nr 1 (29.12.2016): 30–35. http://dx.doi.org/10.21511/gg.01(1).2017.04.
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The article is dedicated to the development of services and conditions of cooperation directed to insurance in the premium circle of clients under globalization. The circle of premium customers in addition to their requirements was described. Extended types of insurance are disposed in the article in order to develop the relationship between customer and insurer for most efficient partnership. The main reasons which caused the low level of insurance market development in Ukraine were proposed both with theoretical variety of their decisions. Proposals about methodical necessity of separating life and non-life insurance companies in the domestic market are disposed due to recommendations of the strategical development of insurance company. Methodological approach to the customer attraction procedure is represented for insurance sales management improvement.
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Zhyliakova, Olena, i Halyna Zhyliakova. "Innovative Technology in Life Insurance". Modern Economics 22, nr 1 (27.08.2020): 13–17. http://dx.doi.org/10.31521/modecon.v22(2020)-02.
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Introduction. The negative impact of macroeconomic factors on the development of the life insurance market during the quarantine period due to the spread of coronavirus disease has been exacerbated by declining incomes, rising unemployment, and the need to adhere to strict quarantine measures. The combination of these factors has led to a decrease in demand for long-term insurance and reduced efficiency of traditional sales channels of insurance products. At the same time, foreign experience shows that the level of innovation of the insurer is one of the main factors in increasing its competitiveness. Dissemination of information technology allows insurers through the implementation of innovative solutions to increase the quality and speed of service, increase the share of the insurance field, reduce the cost of conducting insurance business and the cost of insurance services. Purpose. The purpose of the article is to determine the features of innovative technologies in life insurance and to study the impact of their introduction into the activities of insurers on the development of the life insurance market. Results. The article describes the factors influencing the introduction of innovative technologies in life insurance. Characteristics of social, economic, market and technological groups of factors taking into account the specifics of life insurance and the current state of development of the life insurance market in Ukraine are given. Based on the experience of foreign insurance companies, the efficiency and necessity of introducing innovative technologies in life insurance have been proved, which will allow insurers to create competitive advantages, reduce costs, cost of insurance services, improve the quality of service for policyholders. Conclusions. For the insurance industry, the crisis of 2020 had some consequences, both obvious negative and hidden opportunities, as the introduction of quarantine measures requires accelerating the introduction of digital tools and channels through the widespread use of remote work, price pressure and changes in customer behavior. Thus, the crisis has accelerated the pace of introduction of innovative technologies in life insurance. Achieving successful phased changes involves a number of coordinated steps: – setting dynamic goals for the introduction of innovative technologies at all stages of servicing policyholders, the implementation of which in the near future will provide competitive advantages and reduce costs for insurers; – use of analytical reports and databases as a source of competitive advantage, abandoning outdated IT; – radical cost reduction through automation and self-service, while improving employee skills.
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Creek, D. V. "Solomon Huebner and the Development of Life Insurance Sales Professionalism, 1905-1927". Enterprise and Society 6, nr 4 (1.12.2005): 646–81. http://dx.doi.org/10.1093/es/khi094.
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Park, Jin. "Distribution Systems and Efficiency of Life Insurers in Korea". Journal of Finance Issues 18, nr 2 (31.12.2019): 19–32. http://dx.doi.org/10.58886/jfi.v18i2.2224.
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This study investigates technical efficiencies of all life insurance companies in Korea using data environment analysis (DEA) for the sample of 2006 – 2017. During the sample period studied, new life policy sales by cyber marketing and traditional face-to-face sales have significantly increased and sales by other distribution methods have parred or decreased. The estimates of average technical efficiency measures of Korean life insurers are about 18 percentage higher than those of foreign life insurers. Among competing regression models, a random effects model is found to be an appropriate model and shows that cyber marketing and tele-marketing have statistically significantly positive impact on insurers’ efficiency, while there is a statistically significantly negative relationship between the capital input and the efficiency. The findings of this suggests insurers should strive to increase their operational efficiency by reevaluating and restructuring their distribution channels.
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Ningsih, Seri Utami. "DIRECT SELLING DALAM USAHA PERASURANSIAN DI INDONESIA PERSPEKTIF HUKUM ISLAM". Jurnal Ilmiah Mizani: Wacana Hukum, Ekonomi Dan Keagamaan 7, nr 1 (19.06.2020): 73. http://dx.doi.org/10.29300/mzn.v7i1.2909.
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Insurance companies such as PT. Life Insurance Central Asia Raya, PT. Prudential Life Insurance, PT. Generali Indonesia Life Insurance, PT. Tugu Mandiri Life Insurance, PT. MNC Life Insurance, PT. Asuransi Jiwasraya (Persero), and PT. Sequis Life Life Insurance have marketed one of their insurance products with adirect sales system, or better known as direct selling, which was developed by insurance agents by recruiting insurance agents in a row. This paper explains how the Financial Services Authority (OJK) controls the marketing of insurance businesses and the view of Islamic law on the practice of direct selling in insurance marketing. Based on the type, this research is library research. The results showed that the Supervision of the Financial Services Authority was careless from the principles of legal certainty, professionalism, and openness. This is because Direct Selling was not included in the marketing channels stipulated in the Financial Services Authority Regulation (POJK) Number 23 of 2015 concerning Insurance Products and Marketing of Insurance Products. Based on the POJK, direct selling practiced by insurance companies is illegal. The Financial Services Authority emphasizes direct selling as the development of insurance marketing methods by the insurance agent. In the perspectiveof Islamic law, based on Sadd al-Dzari`ah, although basically direct selling is permitted, but the actions of the insurance agent have great potential to endanger the health of the insurance, and the negligence of the supervisionof the Financial Services Authority, the law of this direct selling is haram (forbidden). Therefore, the Financial Services Authority must review the direct selling marketing developed by the insurance agent.
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Park, Jin. "Distribution Systems and Efficiency of Life Insurers in Korea". Journal of Finance Issues 20, nr 3 (31.12.2022): 65–78. http://dx.doi.org/10.58886/jfi.v20i3.5414.
Pełny tekst źródłaStreszczenie:
This study investigates the technical efficiencies of all life insurance companies in Korea using data environment analysis (DEA) for the sample of 2006 – 2017. During the sample period studied, new life policy sales by cyber marketing and traditional face-to-face sales have significantly increased and sales by other distribution methods have parred or decreased. The estimates of average technical efficiency measures of Korean life insurers are about 18 percent higher than those of foreign life insurers. Among competing regression models, a random effects model is found to be an appropriate model and shows that cyber marketing and tele-marketing have a statistically significant positive impact on insurers’ efficiency, while there is a statistically significant negative relationship between the capital input and the efficiency. The findings of this suggest that insurers should strive to increase their operational efficiency by reevaluating and restructuring their distribution channels.
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Shabani, Arburim, i Medain Hashani. "The study of factors that impact life insurance decision of individuals". Corporate and Business Strategy Review 4, nr 2, special issue (2023): 375–85. http://dx.doi.org/10.22495/cbsrv4i2siart17.
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The life insurance industry is a new field in the Kosovo market, which has shown rapid development in the last two decades. The purpose of this study is to find the main factor which impacts individuals in Kosovo in the decision to purchase a life insurance policy. This research was done in two different periods, one in 2009 and the other in 2021, using the same research methodology and aiming to compare the results of the two time periods. The first part of the research was carried out in 2009 and lasted about three months, while the second was in the last two months of 2021. Data are collected through a survey using a questionnaire designed for the study. Data analysis has shown that benefits from disability insurance are a crucial factor for life insurance. Ranjan et al. (2020) say that with increased competition, the life insurance industry has adopted innovative practices to capture a larger market; therefore, companies are developing their capabilities for penetration, distribution, and sales based on access to customers. Life insurance companies and their agents will benefit from the results of this survey, which will serve as a tool for contributing to the development of the life insurance industry in Kosovo.
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Eckert, Christian, Johanna Eckert i Armin Zitzmann. "The status quo of digital transformation in insurance sales: an empirical analysis of the german insurance industry". Zeitschrift für die gesamte Versicherungswissenschaft 110, nr 2-3 (29.11.2021): 133–55. http://dx.doi.org/10.1007/s12297-021-00507-y.
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AbstractIn this paper, we focus on the impact of digital transformation on traditional ways to sell insurance products. Our goal is to investigate how widespread the use of digital technologies in insurance sales is and which values of these digital technologies are perceived by insurance intermediaries. Moreover, we aim to analyze underlying influencing factors in this regard. We conducted a survey in July 2020, i.e., after the first wave of COVID-19, in which 671 exclusive agents from various insurance companies, independent agents and independent brokers from Germany participated. Our results show that even at this point of time, in a high proportion of sales workforces, digital transformation is not yet very advanced. Further analyses show that exclusive agents and younger people are further ahead in digital transformation even though COVID-19 pushes digital life across all ages and social classes. Based on our results, we derive initial recommendations for action for the insurer.
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Susilo, Daniel, i Jason Enroe Wijaya. "ACTIVITIES AND DEVELOPMENT OF MARKETING COMMUNICATION IN SALES OF INSURANCE PRODUCTS POST-COVID-19 PANDEMIC". SIBATIK JOURNAL: Jurnal Ilmiah Bidang Sosial, Ekonomi, Budaya, Teknologi, dan Pendidikan 2, nr 3 (25.02.2023): 879–88. http://dx.doi.org/10.54443/sibatik.v2i3.620.
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Each insurance provider's services offer various types of insurance for the community through many methods of marketing communication approaches. One of the most widely done marketing communication activities by insurance service providers is personal selling, which are implemented by involving insurance agents as salespeople and communicator between the company and prospective customers. In general, personal selling activities are done through direct face-to-face communication between insurance agents and prospective customers, but the Covid-19 pandemic affected the insurance marketing and sales activities, causing the activities to be held online through virtual face-to-face platforms. Through this research, researchers want to analyze the communication process that can be done by an insurance agent to prospective customers either through directly face-to-face communication or virtual face-to-face. Researchers use several theories and concepts which are, marketing communication, personal selling, and media richness theory to see the comparison of communication between directly face-to-face communication with virtual communication. Researchers will conduct in-depth interviews with 4 source persons who are insurance marketers from PT Asuransi Allianz Life Indonesia and members of Vision Corporation.