Document Type : Original Research Paper
Authors
1 Member of the scientific faculty of Insurance Research Institute, Assistant Professor of General Insurance Research Group, Tehran, Iran
2 Department of Business Management, University of Tehran, Technical Vice President of Di Insurance Company, Tehran, Iran
3 Department of Health Economics, Tarbiat Modares University, Tehran, Iran
4 Department of Health Economics, Tehran University of Medical Sciences, Tehran, Iran
Abstract
Purpose: This article examines the effect of risk culture on risk management performance in insurance companies providing supplementary medical insurance from two perspectives of neoclassical economics and enterprise risk management.
Methodology: Hierarchical Process (AHP)
Findings: In this article, the ten principles of risk management and four cultures based on multiple rationality theory were presented, and the ideas and principles of neoclassical economics and enterprise risk management for insurance companies providing supplementary medical insurance were examined. The findings of this research show that the principles of "enterprise risk management" with a weight of 62.1 percent compared to "neoclassical economics" with a weight of 37.9 percent have obtained the highest rank in relation to the overall goal. Also, the criteria of "risk appetite" and "separation of actions and risk management" gained the most weight in choosing the company's risk management compared to other criteria.
Conclusion: Based on the findings of the research, it is concluded that the principles of risk culture are more compatible with the principles of enterprise risk management, but this does not mean that the principles of enterprise risk management and neoclassical economics cannot be effectively used simultaneously in a company. Rather, insurance companies choose a combination of these two principles. In other words, insurance companies choose different combinations of four approaches based on multiple rationality theory. Also, considering that the attitude of Central Insurance towards risk strategy has effects on the risk culture of insurance companies, it is recommended that Central Insurance adopt an optimal attitude in this field according to the conditions and requirements of the country's insurance industry.
Keywords
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