Methodological Aspects for Assessing the Results of Strategic Planning of Revenues and Expenses in Insurance Company Over a 10-Year Period

2021 ◽  
Vol 13 (1) ◽  
Author(s):  
Rosen Todorov
Keyword(s):  
Insurance Companies ◽  
Competitive Environment ◽  
Insurance Company ◽  
Profit Rate ◽  
Financial Situation ◽  
Professional Attitude ◽  
Correct Analysis ◽  
Source Data ◽  
Methodological Aspects ◽  
Selection Of

The development of individual insurance companies in the context of a global crisis and an increasingly competitive environment raises many questions among managers, whose decisions depend on the development of the respective company. These include whether the company will evolve in 10 years, what financial situation it will be in, what market share it will have and what its profit rate will be at the end of the period. The answers to them lie in the correct analysis of the source data, the professional selection of the corrective factors for straightening the planning functions and finally the professional attitude of managers with regard to variables in the intermediate stages.

The valuation of general insurance companies

1990 ◽  
Vol 117 (3) ◽  
pp. 597-669 ◽  
Author(s):  
J. P. Ryan ◽  
K. P. W. Larner
Keyword(s):  
Future Development ◽  
Stochastic Modelling ◽  
Theoretical Framework ◽  
Insurance Companies ◽  
Single Line ◽  
Insurance Company ◽  
General Insurance ◽  
The Future ◽  
Selection Of

AbstractThe paper presents a theoretical framework for the valuation of a general insurance company to actuaries, but also aims to provide reference work for non-actuarial users of appraised values. It distinguishes between the price that may be paid for an insurance operation from what may be called the economic or appraised value. The paper describes the elements of the appraised value calculation, selection of parameters, the uses of such evaluations and explores the future development into explicit stochastic modelling rather than the implicit methodology. Theoretical and practical considerations are illustrated and example valuations of a single line insurer are given.

scholarly journals Accounting and tax implications of the creation and use of technical provisions of commercial insurance companies

2013 ◽  
Vol 61 (7) ◽  
pp. 2123-2131 ◽  
Author(s):  
Jana Gláserová ◽  
Eva Vávrová
Keyword(s):  
Balance Sheet ◽  
Financial Statements ◽  
Insurance Companies ◽  
General Definition ◽  
Insurance Company ◽  
Commercial Insurance ◽  
The Creation ◽  
Definition Of ◽  
Methodological Aspects ◽  
The Impact

Entities such as commercial insurance companies are obliged to create technical provisions in order to fulfill their activities. Technical provisions are used to cover liabilities of commercial insurance companies arising from insurance and reinsurance activities. The principal aim of this paper is to determine the impact of the creation and use of technical provisions for some important items of the financial statements, which are liabilities, a balance sheet, profit and an income tax base. A prerequisite to fulfill the objective of the paper is to analyze the accounting legislation for technical provisions in an insurance company. The intention of the presented paper can be divided according to its conception into two parts. The first part of the paper is devoted to methodological aspects in relation to the general definition of the accounting principles and their importance in the accounting of commercial insurance companies. The second part deals with the methodological procedure of the accounting of the creation and use of technical provisions and the specifics of how they are reported in the financial statements of commercial insurers. Conclusions of the paper show contemporary issues in the analyzed area in the context of the financial crisis.

Selection of Risks: American Viewpoint and Practice

1958 ◽  
Vol 26 ◽  
pp. 69-114
Author(s):  
Andrew C. Webster
Keyword(s):  
Life Insurance ◽  
The United States ◽  
Insurance Companies ◽  
Insurance Company ◽  
Life Insurance Company ◽  
Successful Operation ◽  
Additional Information ◽  
Numerical Rating ◽  
Attending Physicians ◽  
Selection Of

SynopsisThis Paper outlines the underwriting practice of the life insurance companies in Canada and the United States where, because of the importance of mortality results in the successful operation of a life insurance company, underwriting is considered to be a major executive function.There is a discussion of general underwriting considerations and a more particular discussion of general underwriting practice. This covers the use of an Underwriting Manual, the Numerical Rating System, the use of additional information such as statements from attending physicians, special tests, etc., the question of non-medical insurance and the methods of setting up substandard classes.Mortality investigations of various kinds are considered from the Underwriter's viewpoint which is to test the results of underwriting both in general and on particular impairments. There is a discussion of some current problems such as insuring female lives, insuring hypertensives, and the use of experimental underwriting.The final discussion is on the importance of establishing an underwriting goal for the life insurance company, a goal which should be made clear to the agency force. It also stresses the importance of a good agency force in achieving the desired results.

scholarly journals STRATEGI DALAM PENINGKATAN JUMLAH NASABAH ASURANSI JIWA DI AJB BUMIPUTERA 1912 MEULABOH

2019 ◽  
Vol 3 (1) ◽  
pp. 162-169
Author(s):  
Nuraini Yusuf ◽  
Muhammad Ridhwan ◽  
Mirna Ria Andini
Keyword(s):  
Life Insurance ◽  
Insurance Companies ◽  
Insurance Company ◽  
Product Price ◽  
The People ◽  
Insurance Product ◽  
Price Quotes ◽  
Selection Of

AJB Bumiputera 1912 Meulaboh is an insurance company that has been established for decades until now, it still remains one of the insurance companies that are in demand by the people of Meulaboh. Many products offered by the AJB Bumiputera 1912 Meulaboh is expected to increase the number of life insurance customers and it is is one of the strategies used in the process of increasing the number of insurance customers. As for the results of the study, AJB Bumiputera 1912 followed several stages, namely offering superior products to prospective customers, insurance product price quotes that are tailored to all layers of prospective insurance customers, promotion of insurance products to various prospective insurance customers, the selection of office locations that are very appropriate in the center of Meulaboh City, the selection of employees who work is carried out with a variety of processes in accordance with the applicable operational standards in AJB Bumiputera 1912 throughout Indonesia.

scholarly journals Economic basis of providing of competitiveness of insurance company: methodical and practical aspects

2018 ◽  
Vol 2 (2) ◽  
pp. 52-66
Author(s):  
Liudmyla Prystupa
Keyword(s):  
Insurance Companies ◽  
Insurance Company ◽  
Economic Base ◽  
Financial Investment ◽  
Administrative Work ◽  
Is Research ◽  
Economic Basis ◽  
Analytical Work ◽  
High Level ◽  
Methodological Aspects

Introduction. The management of economic base ingredients is sent to forming, development and realization of competitive edges and providing of high level of competitiveness of insurance company, that in a result will assist not only the increase of client base of insurers, development insurance to the sector but also bringing in of additional investment resources in a home economy. A necessity of providing of high level of competitiveness of domestic insurance companies is in the conditions of active євроінтергації with the use of economic instruments, and also the presence of insufficiently known and debatable questions stipulates actuality of realization of further researches. Aim and tasks. The aim of the article is research of methodical and practical aspects of economic base of providing of competitiveness of insurance company and ground of directions of improvement of administrative activity in this sphere. Research results. In the article methodical and practical aspects of economic base of providing of competitiveness of insurance company are investigational in a modern market environment. The attention was paid to the study of methodological aspects of evaluation of the level of competitiveness and competitive position of the insurer. Conducted evaluation of indexes of competitiveness from data of IC "Alfa-Garant", allowed to learn the state, dynamics and to define the key measures of increase of level of competitiveness of insurance company. On the basis of generalization of results of research of the methodical and practical aspects of economic base of providing of competitiveness of insurance company strategic, operating, financial, investment, innovative and analytical dominants, the totality of that could form a target for the formation of perspective plans of development, control of current situation, implementation of existent obligations. Conclusions. Providing of competitiveness of insurance company is possible on condition of system administrative work from a search and optimization of ways of her development. An important role in this process is fixed to analytical work, methods and the receptions of that are various enough, at the same time compatible and not always answer the features of activity of insurance organization that requires the improvement of methodical principles of analytical evaluation of competitiveness of insurance company. Basis of economic base of providing of competitiveness of insurance company are financial resources, the base aspects of management are conditioned that by the normatively-legal base of conduct of insurance business.

Business processes in the insurance company: The method of operation through separating the key areas of activities

2020 ◽  
Vol 23 (11) ◽  
pp. 1269-1290
Author(s):  
A.A. Turgaeva
Keyword(s):  
Business Process ◽  
Business Processes ◽  
Systems Approach ◽  
Insurance Company ◽  
Entry And Exit ◽  
Control Procedures ◽  
Selection Of

Subject. This article analyzes the business processes in the insurance company, using the method of their operation with the selection of key areas of activity. Objectives. The article aims to describe certain business processes in insurance, highlighting participants, lines of activity, and the sequence of procedures. It analyzes the business process Settlement of Losses, which is one of the significant business processes in the insurance company. Methods. For the study, I used the methods of induction and deduction, analogy, and the systems approach. Results. Based on the analysis and description of business processes in the insurance company and the identification of key elements and steps in terms of the effectiveness of decisions, the article identifies the checkpoints of Entry and Exit, activity direction, and resources of the Settlement of Losses process. Conclusions. The application of the categories that split business processes makes it possible to develop step regulation for all processes and acceptable control procedures for different operations. The presented checkpoints at different steps of the business process will help identify weaknesses and eliminate them by re-checking the point.

On the issue of assessing the adequacy of the reserves of insurance companies with various methods for determining the loss of business

2020 ◽  
pp. 46-53
Author(s):  
Margarita Naslednikova ◽  
Alexandr Zamalov
Keyword(s):  
Comparative Analysis ◽  
Health System ◽  
Financial Reporting ◽  
Accounting Standards ◽  
Insurance Companies ◽  
Insurance Company ◽  
Reporting Standards ◽  
Loss Ratio ◽  
Qualitative Characteristic ◽  
Financial Reporting Standards

The article discusses methods for calculating the loss ratio of insurance companies, including compulsory medical insurance, which is the basis for building a health system; su’ciency of formed reserves, which are created in connection with the possibility of losses. Variants of interpretation of calculated indicators into a qualitative characteristic of the insurance company. A comparative analysis of the calculation of indicators of loss-making of insurance companies and the adequacy of the formation of reserves of insurance companies according to Russian accounting standards and in accordance with the requirements of international financial reporting standards.

Indian Life Insurance Market and Corporate Performances: A Study of Selected Firms

2016 ◽  
Vol 4 (1) ◽  
Author(s):  
Joy Chakraborty ◽  
Partha Pratim Sengupta
Keyword(s):  
Market Share ◽  
Life Insurance ◽  
Market Concentration ◽  
Insurance Market ◽  
Insurance Companies ◽  
Insurance Company ◽  
Life Insurance Company ◽  
Insurance Sector ◽  
Life Insurers ◽  
Company Limited

In the pre-reform era, Life Insurance Corporation of India (LICI) dominated the Indian life insurance market with a market share close to 100 percent. But the situation drastically changed since the enactment of the IRDA Act in 1999. At the end of the FY 2012-13, the market share of LICI stood at around 73 percent with the number of players having risen to 24 in the countrys life insurance sector. One of the reasons for such a decline in the market share of LICI during the post-reform period could be attributed to the increasing competition prevailing in the countrys life insurance sector. At the same time, the liberalization of the life insurance sector for private participation has eventually raised issues about ensuring sound financial performance and solvency of the life insurance companies besides protection of the interest of policyholders. The present study is an attempt to evaluate and compare the financial performances, solvency, and the market concentration of the four leading life insurers in India namely the Life Insurance Corporation of India (LICI), ICICI Prudential Life Insurance Company Limited (ICICI PruLife), HDFC Standard Life Insurance Company Limited (HDFC Standard), and SBI Life Insurance Company Limited (SBI Life), over a span of five successive FYs 2008-09 to 2012-13. In this regard, the CARAMELS model has been used to evaluate the performances of the selected life insurers, based on the Financial Soundness Indicators (FSIs) as published by IMF. In addition to this, the Solvency and the Market Concentration Analyses were also presented for the selected life insurers for the given period. The present study revealed the preexisting dominance of LICI even after 15 years since the privatization of the countrys life insurance sector.

scholarly journals Relationship between Age and Value of Information for a Noisy Ornstein–Uhlenbeck Process

Entropy ◽  
2021 ◽  
Vol 23 (8) ◽  
pp. 940
Author(s):  
Zijing Wang ◽  
Mihai-Alin Badiu ◽  
Justin P. Coon
Keyword(s):  
Value Of Information ◽  
Markov Models ◽  
Upper Bounds ◽  
Distribution Functions ◽  
Lower And Upper Bounds ◽  
Uhlenbeck Process ◽  
Source Data ◽  
Non Linear ◽  
Queue Model ◽  
Selection Of

The age of information (AoI) has been widely used to quantify the information freshness in real-time status update systems. As the AoI is independent of the inherent property of the source data and the context, we introduce a mutual information-based value of information (VoI) framework for hidden Markov models. In this paper, we investigate the VoI and its relationship to the AoI for a noisy Ornstein–Uhlenbeck (OU) process. We explore the effects of correlation and noise on their relationship, and find logarithmic, exponential and linear dependencies between the two in three different regimes. This gives the formal justification for the selection of non-linear AoI functions previously reported in other works. Moreover, we study the statistical properties of the VoI in the example of a queue model, deriving its distribution functions and moments. The lower and upper bounds of the average VoI are also analysed, which can be used for the design and optimisation of freshness-aware networks. Numerical results are presented and further show that, compared with the traditional linear age and some basic non-linear age functions, the proposed VoI framework is more general and suitable for various contexts.

scholarly journals Description of the epidemiological characteristics of work-related eye injuries in Spain: a retrospective study

BMJ Open ◽  
2020 ◽  
Vol 10 (10) ◽  
pp. e035696
Author(s):  
Sergio Martin-Prieto ◽  
Cristina Álvarez-Peregrina ◽  
Israel Thuissard-Vasallo ◽  
Carlos Catalina-Romero ◽  
Eva Calvo-Bonacho ◽  
...  
Keyword(s):  
Injured Workers ◽  
Insurance Companies ◽  
Secondary Outcome ◽  
Ocular Injury ◽  
Insurance Company ◽  
Age Group ◽  
Eye Injuries ◽  
Manual Task ◽  
Work Related ◽  
Epidemiological Characteristics

ObjectiveTo describe the epidemiological characteristics and trends of work-related eye injuries (WREIs) in Spain over a 10-year period by sex, age and occupational sector.Design and settingsA descriptive, retrospective and longitudinal study based on data from workers insured by a labour insurance company in Spain from 2008 to 2018 was presented. The study considered the ratio of the number of WREI per 100 000 population and the relative risk of suffering an ocular injury. WREIs were characterised by sex, age and occupational sector of injured workers.Primary and secondary outcome measuresRatio of the number of WREI.ParticipantsIn Spain, all workers are insured by a labour insurance company that provides cover in the event of work-related accidents. In this study, we have included all workers insured by one of these insurance companies, IBERMUTUA, with workers in all areas of Spain.ResultsThe study included 50 265 WREI in the company over the 10-year period. Most of the injuries occurred in males (44 445; 88.4%), in 35–44 age group (15 992; 31.8%) and in industry workers (18 899; 42.6%). The average incidence was 429.75 per 100 000 workers insured and 4273.36 per 100 000 IBERMUTUA accidents (related and not related to eyes). Males, 16–24 age group and industry occupational sector group, have the highest incidence for WREI. The incidence of WREI decrease over the study period in all variables. Males have 6.56 (95% CI 6.38 to 6.75) times more risk of suffering WREI than females. 16–24 age group have 1.77 (95% CI 1.71 to 1.83) times more risk than in the group of workers older than 55. Finally, industry workers have 7.73 (95% CI 7.55 to 7.92) times more risk than services workers.ConclusionsThe risks of suffering WREI is higher for males, younger and less experienced workers, and for those who works in a manual task.

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