The strategic use of expert systems for risk management in the insurance industry

1990 ◽  
Author(s):  
Marc H. Meyer ◽  
Arthur DeTore ◽  
Stephen F. Siegel ◽  
Kathleen F. Curley
Keyword(s):  
Risk Management ◽  
Expert Systems ◽  
Insurance Industry

The strategic use of expert systems for risk management in the insurance industry

1992 ◽  
Vol 5 (1-2) ◽  
pp. 15-24 ◽  
Author(s):  
M MEYER ◽  
A DETORE ◽  
S SIEGEL ◽  
K CURLEY
Keyword(s):  
Risk Management ◽  
Expert Systems ◽  
Insurance Industry

Enterprise risk management and Solvency II: the system of governance and the Own Risk and Solvency Assessment

2020 ◽  
Vol 21 (4) ◽  
pp. 317-332 ◽  
Author(s):  
Pablo Durán Santomil ◽  
Luis Otero González
Keyword(s):  
Risk Management ◽  
Insurance Industry ◽  
Solvency Ii ◽  
Enterprise Risk Management ◽  
Insurance Companies ◽  
Legal Form ◽  
Content Type ◽  
Enterprise Risk ◽  
Solvency Assessment

Purpose The purpose of this paper is to analyze how enterprise risk management (ERM), the system of governance and the Own Risk and Solvency Assessment (ORSA) have been boosted with the entry of Solvency II. Design/methodology/approach For this analysis, the authors have undertaken a survey of chief risk officers (CROs) working in Spanish insurance companies. Findings The results show that Solvency II has definitely promoted ERM in the European insurance industry and improved the system of governance of the insurance companies, and that the perceived value of the ORSA for the companies is higher than the cost. It is clear that the quality of ERM implemented by companies is higher in those that face more complex risks and with greater interdependencies – that is, larger companies, foreign insurers and insurers with several lines of business – but is unaffected by the legal form of the entity (mutual/corporation). Originality/value This study conducts primary research with surveys of CROs and develops a measure of the quality of ERM implemented by insurance companies.

Expert Systems in Medicne:Possible Future Effects

1988 ◽  
Vol 4 (1) ◽  
pp. 121-133 ◽  
Author(s):  
P Potthoff ◽  
M. Rothemund ◽  
D. Schwefel ◽  
R. Engelbrecht ◽  
W. van Eimeren
Keyword(s):  
Health Insurance ◽  
Expert Systems ◽  
Medical Profession ◽  
Insurance Industry ◽  
General Medicine ◽  
Practical Application ◽  
Actual Knowledge ◽  
Positive Effects ◽  
The Subject ◽  
Health Insurance Industry

It should be pointed out that during the interviews most of the experts had positive expectations of ESM. The developers are more generally enthusiastic than the prospective users and affected parties who, especially in respect of the diffusion of ESM into practical application, only show a limited optimism.However, the representatives of the medical profession and the health insurance industry were convinced that ESM might contribute to cost-neutral increases of quality in out-patient and in-patient medicine. But we also understood them to say that they consider other developments in medicine to be overriding, for example, a tendency of general medicine towards a more family-oriented medicine and a reduced emphasis on technology-oriented medicine. In respect of the conception shared by developers as well as potential users that over-enthusiastic expectations should rather be restrained, we consider such a balanced expectation of positive effects of ESM to be adequate to the actual knowledge of the subject.

scholarly journals A Case Study on the Particularities and Sustainability of the Concepts of TQM, Quality Control, and Risk Management in the Corporate Insurance Industry: Loss and the Incidence of Catastrophic Risks

Proceedings ◽  
2020 ◽  
Vol 63 (1) ◽  
pp. 3
Author(s):  
Narcis Sebastian Păvălașcu ◽  
Manuela Rozalia Gabor
Keyword(s):  
Risk Management ◽  
Quality Control ◽  
New Technologies ◽  
Insurance Industry ◽  
Press Release ◽  
Management Systems ◽  
Catastrophic Risks ◽  
Trade Wars ◽  
Corporate Insurance

The development of quality control and risk management systems is a priority for any industry and especially for the corporate insurance industry. Defective product and work incidents represent 14% of the total number of insurance claims, serving as the main loss of liability for businesses. According to a Allianz Global Corporate and Specialty press release, the cyber risks and impact of new technologies will have an increasing influence on the landscape of corporate losses in the coming years. Our results from this study conclude that the emerging business risks for the next 3–4 years are as follows: cyber incidents, 48%; new technologies, 30%; and changes in legislations/regulations, 28% (i.e., the present pandemic cause by COVID-19, the Brexit, trade wars, and tariffs etc.).

Institutional Transfer: The Beginnings of Insurance in Southeast Asia

2015 ◽  
Vol 89 (2) ◽  
pp. 207-228 ◽  
Author(s):  
Peter Borscheid ◽  
Niels-Viggo Haueter
Keyword(s):  
Risk Management ◽  
Southeast Asia ◽  
Insurance Industry ◽  
Local Population ◽  
Far East ◽  
Credit Crisis ◽  
The Far East ◽  
America South ◽  
North And South America ◽  
North And South

At the turn of the nineteenth century, modern insurance started to spread from the British Isles around the world. Outside Europe and the European offshoots in North and South America, South Africa, Australia, and New Zealand, it began to compete with other forms of risk management and often met with stiff opposition on religious and cultural grounds. Insurance arrived in Southeast Asia via British merchants living in India and Canton rather than through agencies of European firms. While the early agency houses in Bengal collapsed in the credit crisis of 1829–1834, the firms established by opium traders residing in Macau and Hong Kong, and advised by insurance experts in London, went on to form the foundations of the insurance industry in the Far East. Until the early twentieth century, they sought to use the techniques of risk management that they had developed in Europe to win Europeans and Americans living in Southeast Asia as clients, along with members of the local population familiar with Western culture.

Sign in / Sign up

Export Citation Format

Share Document