Pricing Flood Insurance: How and Why the NFIP Differs from a Private Insurance Company

2014 ◽  
Author(s):  
Carolyn Kousky ◽  
Leonard Shabman
Keyword(s):  
Private Insurance ◽  
Flood Insurance ◽  
Insurance Company ◽  
Private Insurance Company

How to Support Clients and Vendors in IT Outsourcing Engagements: The Different Roles of Third-party Advisory Services

2018 ◽  
Vol 8 (2) ◽  
pp. 184-191
Author(s):  
Turgut Erdogmus ◽  
Marcel Czermak ◽  
Devin Baumsteiger ◽  
Daniel Kohn ◽  
Annalena Boller-Hoffecker ◽  
...  
Keyword(s):  
Service Provider ◽  
Private Insurance ◽  
Third Party ◽  
Insurance Company ◽  
Joint Development ◽  
Innovative Solutions ◽  
Private Insurance Company ◽  
And Performance ◽  
It Workplace ◽  
External Partner

The outsourcing of information technology to external providers has been a phenomenon for organizations around the world since decades. The main reasons for this trend are, for example, cost reductions through scaling, the temporary inclusion of specific skills in the own organization as well as the joint development of innovative solutions with an external partner. The client organization “RetBa,” a major private insurance company, was facing serious quality and performance issues in the delivery of the workplace services. Hence, in 2005 they decided for an outsourcing solution aiming at moving the responsibility for managing IT workplace services for over 50,000 seats worldwide to the external service provider “EuTu.” Over the years, the outsourcing project faced several problems due to the lack of performance and delayed delivery of services by the service provider EuTu. To solve these quality issues and avoid further failures, in 2011 RetBa appointed Scaleit Consulting, a third-party advisor. Scaleit Consulting had the responsibility to identify the causes for these issues, revise the workplace strategy, and support RetBa in the communication with the service provider.

scholarly journals Assessing trends in insured losses from floods in Spain 1971–2008

2012 ◽  
Vol 12 (5) ◽  
pp. 1723-1729 ◽  
Author(s):  
J. I. Barredo ◽  
D. Saurí ◽  
M. C. Llasat
Keyword(s):  
Natural Disasters ◽  
Private Insurance ◽  
Time History ◽  
Public Institution ◽  
Economic Losses ◽  
Insurance Company ◽  
Time Data ◽  
Private Insurance Company ◽  
Insured Losses ◽  
Scientific Scholarship

Abstract. Economic impacts from floods have been increasing over recent decades, a fact often attributed to a changing climate. On the other hand, there is now a significant body of scientific scholarship all pointing towards increasing concentrations and values of assets as the principle cause of the increasing cost of natural disasters. This holds true for a variety of perils and across different jurisdictions. With this in mind, this paper examines the time history of insured losses from floods in Spain between 1971 and 2008. It assesses whether any discernible residual signal remains after adjusting the data for the increase in the number and value of insured assets over this period of time. Data on insured losses from floods were sourced from Consorcio de Compensación de Seguros (CCS). Although a public institution, CCS compensates homeowners for the damage produced by floods, and thus plays a role similar to that of a private insurance company. Insured losses were adjusted using two proxy measures: first, changes in the total amount of annual surcharges (premiums) paid by customers to CCS, and secondly, changes in the total value of dwellings per year. The adjusted data reveals no significant trend over the period 1971–2008 and serves again to confirm that at this juncture, societal influences remain the prime factors driving insured and economic losses from natural disasters.

scholarly journals The Utility of Zero-Inflated Models in the Estimation of the Number of Accidents in the Automobile Insurance Industry

Equilibrium ◽  
2010 ◽  
Vol 5 (2) ◽  
pp. 181-194
Author(s):  
Marija Del Carmen Melgar ◽  
Jose Antonio Ordaz
Keyword(s):  
Insurance Industry ◽  
Empirical Studies ◽  
Private Insurance ◽  
Positive Association ◽  
Insurance Companies ◽  
Automobile Insurance ◽  
Insurance Company ◽  
Count Data Models ◽  
Automobile Accidents ◽  
Private Insurance Company

The main purpose of the present paper is to provide an econometric model which estimates the number of automobile accidents that policyholders declare to their insurance companies, pointing out those variables that are significant in this process. Our empirical analysis is based on the data supplied by a private insurance company that operates in Spain, and on the zero-inflated count data models as methodology. We find a positive association between the levels of coverage and the accident rates, suggesting the existence of problems related to adverse selection and moral hazard. This result is one of the most important conclusions of our work and confirms the theoretical aspects pointed up by other empirical studies in the literature. Additionally, estimating the number of policyholders that suffered any accident but not declared, and how many these non-declared accidents are, could be very useful information for insurers to evaluate their risk planning. Our model attempts to reach this target as well.

scholarly journals Perkembangan Asuransi Kesehatan Swasta di Indonesia 2012 – 2016

2018 ◽  
Vol 2 (2) ◽  
Author(s):  
Kurnia Sari, SKM, MSE
Keyword(s):  
Health Insurance ◽  
Universal Health Coverage ◽  
Life Insurance ◽  
Private Health Insurance ◽  
Private Insurance ◽  
Health Expenditures ◽  
Insurance Company ◽  
Health Coverage ◽  
Private Insurance Company ◽  
Universal Health

Abstrak Total belanja asuransi swasta di tahun 2015 sekitar 3,9% dari pengeluaran kesehatan Indonesia. Walaupun tidak cukup besar, informasi tentang asuransi kesehatan swasta di Indonesia masih terbatas. Kajian ini ditujukan untuk memberikan gambaran perkembangan perusahaan asuransi kesehatan swasta di Indonesia. Jumlah perusahaan asuransi swasta dalam beberapa ta­hun terakhir tidak banyak tumbuh, sementara jumlah kepesertaannya cenderung fluktuatif dalam 5 tahun terakhir, bahkan turun untuk kelompok asuransi kerugian. Uang pertanggungan cenderung naik sampai tahun 2014, lalu stagnan pada periode berikutnya. Jumlah premi yang diterima perusahaan dan klaim yang harus dibayarkan cenderung naik, dengan rasio klaim yang cukup tinggi pada asuransi kerugian dan dalam batas wajar untuk asuransi jiwa. Tidak dapat dipungkiri bahwa program pemerintah untuk mencapai universal health coverage merupakan sebuah ancaman bagi pihak asuransi swasta.AbstractTotal private insurance spending in 2015 is about 3.9% of Indonesia’s health expenditures. Although it is not considerably high, the information about private health insurance in Indonesia is still limited. This review is aimed to provide an overview of the private health insurance company growths in Indonesia. The number of private insurance company does not grow significantly, while the number of membership tends to fluctuate in the last 5 years, even it is tend to decrease for non life insurance category. Sums assured tend to rise until 2014, then stagnant for the next period. The amount of premium received by the company and claims to be paid (claim ratio) is considerably increase. It could not be denied that government program for achieving the universal health coverage is a threat to private insurance.

Micro-insurance and its Role in Poverty Alleviation: A Study with Reference to a Private Insurance Company in Assam

2014 ◽  
Vol 1 (2) ◽  
Author(s):  
Dipankar Baidya
Keyword(s):  
Risk Management ◽  
Private Insurance ◽  
Insurance Company ◽  
Asset Accumulation ◽  
Life Insurance Company ◽  
The Poor ◽  
Private Insurance Company ◽  
Micro Insurance ◽  
Economic Developments ◽  
The Impact

Microfinance phenomenon is one of the most remarkable socio-economic developments of our times. In this context, micro insurance is emerging as a prepaid financing option for the risks facing the poor. Earlier, insurance as a prepaid risk managing instrument was never considered as an option for the poor. Often they were considered uninsurable, given the wide variety of risks they face. To combat these risks, the poor used to do pro-active risk management such as grain storage, savings and asset accumulation. However, these forms of risk management which were appropriate earlier are no longer adequate. Micro-insurance should, therefore, provide greater economic and psychological security to the poor by reducing exposure to multiple risks and cushioning the impact of a disaster. In this reference, we look at the functioning of a private insurance company, ICICI Prudential Life Insurance Company in giving support to micro-insurance in Assam. ICICI Prudential has selected tea tribes of Assam as the target group to launch their Micro-insurance product.

scholarly journals Analisis biaya implantasi koklea bilateral simultan dan sekuensial

2019 ◽  
Vol 49 (20) ◽  
Author(s):  
Ratna Dwi Restuti
Keyword(s):  
Hearing Aids ◽  
Cochlear Implantation ◽  
Private Insurance ◽  
Sensorineural Deafness ◽  
Cost Effective ◽  
Insurance Company ◽  
Private Funding ◽  
Financial Perspective ◽  
Record Data ◽  
Private Insurance Company

Latar belakang: Implantasi koklea merupakan tatalaksana pasien dengan ketulian sensorineural bilateral derajat berat atau sangat berat yang tidak terbantu dengan alat bantu dengar konvensional. Pemasangan implan dapat bersifat unilateral atau bilateral, baik secara simultan maupun sekuensial, dengan konsekuensi biaya yang berbeda. Di Indonesia pembiayaan implantasi koklea dapat dilakukan secara pribadi, atau jaminan kesehatan baik jaminan pemerintah (BPJS) maupun non pemerintah (swasta). Tujuan: Untuk mengetahui apakah biaya yang dibutuhkan untuk implantasi koklea simultan lebih efisien dibandingkan biaya implantasi secara sekuensial.Metode: Penelitian dilakukan secara retrospektif pada seluruh pasien yang dilakukan implantasi koklea dalam kurun waktu Januari 2015 hingga September 2019. Data rekam medis dan biaya perawatan dikumpulkan serta ditelaah dan dilakukan pengolahan data secara deskriptif dan analitik. Hasil: Pada penelitian ini didapatkan hasil bahwa pada operasi implantasi koklea secara simultan biayanya lebih efisien dibanding dengan operasi secara sekuensial. Sistem paket pasien BPJS tidak membedakan antara paket biaya pemasangan secara simultan maupun sekuensial. Kesimpulan: Berdasarkan perspektif biaya, pasien implantasi koklea secara simultan lebih efisien dibanding dengan pasien implantasi secara sekuensial.Kata kunci: ketulian sensorineural, implantasi koklea, bilateral simultan, bilateral sekuensial, biayaABSTRACT Background: Cochlear implantation is the management of patients with severe or profound bilateral sensorineural deafness whose hearing capacity does not improved by the assistance of conventional hearing aids. Implants can be unilateral or bilateral, either simultaneously or sequentially inserted with different cost consequences. In Indonesia cochlear implantation costs can be covered by private funding and health insurance, both government (BPJS) and non-government (private) insurance company. Purpose: To find out the more efficient cost between simultaneous and sequential cochlear implantation. Methods: The study was conducted retrospectively on all patients undergoing cochlear implantation in the period of January 2015 to September 2019. Medical record data and treatment costs were collected and reviewed, and data were processed descriptively and analytically. Result: This study revealed that simultaneous cochlear implantation surgery costs more efficient compared with sequential surgery, because the BPJS (government) patient package system does not differentiate between simultaneous and sequential package implantation costs. Conclusion: Based on financial perspective, the simultaneous cochlear implantation was more cost-effective than the sequential surgery.Keywords: sensorineural hearing loss, cochlear implantation, bilateral simultaneous, bilateral sequential, costs

scholarly journals A STUDY ON PREFERENCE OF POLICYHOLDERS ABOUT PUBLIC AND PRIVATE LIFE INSURANCE COMPANIES IN TIRUNELVELI DISTRICT

2018 ◽  
Vol 6 (4) ◽  
pp. 105-110
Author(s):  
I. Meenakshi
Keyword(s):  
Public Sector ◽  
Life Insurance ◽  
Private Insurance ◽  
Marketing Strategies ◽  
Private Life ◽  
Insurance Companies ◽  
Insurance Company ◽  
Life Insurance Company ◽  
Public And Private ◽  
New Policies

There are currently, a total of 24 life insurance companies in India. Of these, Life Insurance Corporation of India (LIC) is the only public sector insurance company. All others are private insurance companies. The Life Insurance Corporation of India (LIC) is the largest life insurance company in India and also the country's largest investor. More and more new private insurance companies are coming up year after year. And, these new and private life insurance companies adopt aggressive marketing strategies to introduce their products and to tap the potential policyholders. It is witnessed that new policies like ULIPs are introduced by these new private life insurance companies. It is in this concept this study has been undertaken to assess and analyze the preference of policyholders towards insurance services offered by public and private life insurance companies in Tirunelveli district.

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