7. The Life Insurance Agent: Problems in Occupational Prestige and Professionalization

2017 ◽  
pp. 136-170
Keyword(s):  
Life Insurance ◽  
Occupational Prestige ◽  
Insurance Agent

Unsafe insurance

2017 ◽  
Vol 24 (4) ◽  
pp. 643-655 ◽  
Author(s):  
Viktoria Dalko
Keyword(s):  
Life Insurance ◽  
Court Cases ◽  
Content Type ◽  
Legal Evidence ◽  
Automobile Safety ◽  
Insurance Policies ◽  
Insurance Agent ◽  
Safety Cases ◽  
Criminological Analysis ◽  
Practical Implications

Purpose The purpose of this paper is to study life-loss risk in some life insurance policies and propose solution to the problem found. Design/methodology/approach The paper analyzes the expected payout for murder-for-insurance. It presents legal evidence of 179 court cases and conducts criminological analysis. It compares the lack of safety regulation in life insurance with regulatory actions in selected food and automobile safety cases. Findings Some life insurance policies create incentives and, therefore, temptation for murder-for-insurance. The insured can face life-loss risk from not only the beneficiary but also the life insurance agent during the term of the policy. Practical implications This paper proposes that defective life insurance policies should be recalled. Social implications The proposal has a policy implication of eliminating one type of homicide. Originality/value This paper is the first study of its kind, as it places the safety of the insurance consumer in the center.

scholarly journals Forming the life insurance companies’ reputation in Ukrainian realities

2020 ◽  
Vol 10 (1) ◽  
pp. 49-60 ◽  
Author(s):  
Oksana Okhrimenko ◽  
Iryna Manaienko
Keyword(s):  
Life Insurance ◽  
Market Competition ◽  
Reputation Management ◽  
Insurance Companies ◽  
Insurance Sector ◽  
Accounts Payable ◽  
Key Factor ◽  
Insurance Agent ◽  
Capital Development ◽  
Corporate Social

Insurers’ understanding of reputation importance is a key factor of their successful performance at the market. It particularly concerns life insurance sector, which has a significant development potential in Ukraine.The article aims at deepening scientific and practical essentials concerning the formation of life insurance companies’ reputation in conditions of market competition aggravation and insurance market conjuncture volatility.Based on ranking assessments used in Ukraine (Insurance Top, Mind, “My insurance agent” and the ranking of the corporate reputation management quality “REPUTATIONAL ACTIVists”), the need for ensuring the insurers’ reputation stability in conditions of acute competition at the market was substantiated. The results of financial statements analysis and corporate governance reporting of insurance companies ASKA-LIFE, TAS, KD Life, PZU Ukraine, UNIQA Life, MetLife were presented. It was substantiated that, within studying the life insurance companies’ reputation, along with main financial indicators, there is a need to analyze in details such indicators as insurance premiums and investment income for one insured from savings life insurance, average payments, current accounts payable, etc.It was proved that for reputation capital development, it is worth strengthening the role of corporate social responsibility, and to consider insurance companies’ assessment on the part of clients and employees who are brand advocates and affect the companies’ reputation formation.

PERLINDUNGAN HUKUM PEMEGANG POLIS ASURANSI JIWA TERHADAP MIS-SELLING OLEH AGEN ASURANSI DI PT. BNI LIFE INSURANCE

2021 ◽  
Vol 7 (1) ◽  
pp. 1
Author(s):  
Dirga Adil Fauzan
Keyword(s):  
Life Insurance ◽  
Financial Services ◽  
Legal Protection ◽  
Secondary Data ◽  
Primary Data ◽  
Insurance Company ◽  
Insurance Agents ◽  
Insurance Agent ◽  
Day To Day Operations ◽  
Definition Of

Financial services are an important and inseparable aspect of our life, one of them is life insurance provided by insurance company. In running their business, a company certainly have employees who work for them to reach company’s targets. Insurance company must follow the standards set in the relevant regulations. Even though an insurance company has followed the applicable regulations in day-to-day operations, mistakes made by employees are still unavoidable; one of the mistake is mis-selling by insurance agents to life insurance policyholders. Mis-selling can be defined as an event where an insurance agent fails to explain clearly and comprehensively to a prospective life insurance policyholder about an insurance product from an insurance company, so that the life insurance policyholder incurs a loss. The purpose of this study is to explain the definition of mis-selling, to explain the legal protection of life insurance policyholders against mis-selling by insurance agents, and to explain the responsibility of PT. BNI Life Insurance as an insurance company in overcoming disputes caused by mis-selling done by insurance agents. The author uses the empirical juridical research method, where at first the data studied is secondary data for initial data, then continued by examining primary data, namely real practice and direct data from the field. This study showed the result that there are regulations that protect life insurance policyholders and PT. BNI Life Insurance in the process of resolving problems or disputes, mis-selling by insurance agents, and that the Company acts firmly, simply, and responsibly by following the problem resolution procedure written in the relevant regulations.  Jasa keuangan merupakan salah satu aspek penting yang tak terpisahkan dalam kehidupan bermasyarakat, salah satu jenisnya adalah asuransi jiwa yang disediakan oleh perusahaan asuransi. Dalam menjalankan usahanya perusahaan asuransi tentu memiliki tenaga pemasar yang yang mewakili perusahaan asuransi untuk memasarkan produk asuransi. Dalam menjalankan usaha, perusahaan asuransi harus mengikuti standar yang telah ditetapkan pada peraturan-peraturan yang berkaitan. Meskipun suatu perusahaan asuransi telah mengikuti peraturan-peraturan yang berlaku dalam menjalankan usaha, namun kesalahan yang dilakukan oleh tenaga pemasar masih belum dapat terhindarkan. Salah satu kesalahan dari tenaga pemasar tersebut adalah mis-selling yang dilakukan oleh agen asuransi terhadap pemegang polis asuransi jiwa. mis-selling dapat diartikan kejadian dimana agen asuransi gagal untuk menjelaskan secara jelas dan menyeluruh atau komprehensif kepada calon pemegang polis asuransi jiwa tentang suatu produk asuransi dari perusahaan asuransi, sehingga pemegang polis asuransi jiwa mengalami kerugian. Tujuan dari penelitian ini adalah menjelaskan definisi dari mis-selling, menjelaskan perlindungan hukum pemegang polis asuransi jiwa terhadap mis-selling oleh agen asuransi, dan untuk menjelaskan pertanggungjawaban dari PT. BNI Life Insurance selaku perusahaan asuransi dalam mengatasi permasalahan mis-selling oleh agen asuransi. Penulis menggunakan metode penelitian yuridis empiris, dimana data yang diteliti lebih dahulu adalah data sekunder untuk data awal, kemudian dilanjutkan dengan meneliti data primer, yaitu praktik nyata dan data langsung dari lapangan. Penelitian ini memiliki hasil bahwa sudah ada peraturan-peraturan yang melindungi pemegang polis asuransi jiwa dan PT. BNI Life Insurance dalam proses penyelesaian masalah atau sengketa mis-selling oleh agen asuransi bertindak tegas, sederhana, dan bertanggung jawab dengan mengikuti prosedur penyelesaian masalah yang tertulis di peraturan-peraturan yang berkaitan.

scholarly journals ANALISIS PERHITUNGAN KOMISI AGENT ASURANSI PADA PT.GENERALI LIFE INSURANCE CABANG MEDAN

2018 ◽  
Vol 4 (1) ◽  
Author(s):  
Pratama Sutrisno
Keyword(s):  
Life Insurance ◽  
Field Research ◽  
Secondary Data ◽  
Detailed Calculation ◽  
Insurance Agents ◽  
Library Research ◽  
Target Company ◽  
Insurance Agent ◽  
Quantitative Descriptive ◽  
Descriptive Method

<p align="center"><strong><em>ABSTRACT</em></strong></p><p><em>            A commission calcuation is very important for the company to know the performance of the agent. In addition, the calculation of the commission aims to know the commission of insurance agents on PT.GENERALI Life Insurance. In the calculation of the company’s commission using the method based on working time so that obtained more accurate, fast, precise in reducing the risk of calculating the commission. The type of data used in this study are primary and secondary data, and data sources used in the form of internal and external. Dat collection methods used are field research and library research. Method of data analysis used quantitative descriptive method. Seen from the results of research used by the author, the conclusion that PT.GENERALI Life Insurance has a commission calculation taht is very appropriate with the agent. However, the lack of detailed calculation of commisions makes the agent feel less satisfied. After analyzed the commission calculation has additional reward again so that agent/marketer can motivate himself to achieve the target company.</em></p><p><em> </em></p><strong><em>Keywords : Insurance Agent Commission</em></strong>

scholarly journals Impact of COVID-19 on personal insurance sales – Evidence from Germany

2021 ◽  
Vol 5 (1) ◽  
pp. 80-86
Author(s):  
Gerriet Hinrichs ◽  
Henning Bundtzen
Keyword(s):  
Life Insurance ◽  
Pension Plans ◽  
Customer Relationships ◽  
Personal Contact ◽  
Face To Face ◽  
Scientific Discussion ◽  
Insurance Agent ◽  
Seasonal Volatility ◽  
Relationship Of ◽  
The Impact

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.

scholarly journals Analisis Kompetensi Agen Asuransi Kasus Bumi Putera Syariah Palembang

2018 ◽  
Vol 3 (2) ◽  
Author(s):  
Sahirrudin Sahirrudin ◽  
Maya Panorama ◽  
Listiawati Listiawati
Keyword(s):  
Human Resources ◽  
Life Insurance ◽  
Government Agency ◽  
Insurance Companies ◽  
Insurance Company ◽  
Insurance Agent ◽  
Policy Holder ◽  
Islamic Insurance ◽  
The City ◽  
A Company

The success of a company needs employees who are competent, experienced and strong. Islamic insurance companies certainly require employees who have knowledge about insurance in accordance with Islamic sharia principles. In the case of the Islamic insurance company Bumi Putera Palembang in 2015 to 2016 there are 40 insurance policyholders who worked in a government agency to terminate the employment relationship between the insurance and policyholders. This is because there is no transparency related to monthly installment payments that should be proven by a deposit or proof of receipt of payment in full by the field agent to the policy holder. This is not in line with the principles of Islamic insurance, namely avoiding the elements of gharar, maysir and usury. Islam emphasizes aspects of justice, likes and likes and togetherness faces risks in every effort and investment pioneered. This aspect is the concept offer to replace gharar, maysir and riba that have been happening in conventional institutions. The focus of research is on the competency of agents (wakalah) in the sharia Islamic Bumi Putera insurance company in the city of Palembang. The result is obtained from the conclusions of six indicators and evidenced by the table of productive reports of agents related to product marketing that human resources in agents /wakalah Bumi Putera Syariah Life Insurance have not described competency and professionalism. This can be seen from the lack of insurance products sold, attitudes to field issues and the achievement of the target customers determined by the company. Keywords: Insurance Agent Competency, Bumi Putera Syariah

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