Document Type : Original Research Paper
Authors
1 Department of Business Management, School of Management, Khwarazmi University, Tehran, Iran
2 Department of Information Technology Management, Faculty of Management, Khwarazmi University, Tehran, Iran
3 Department of Business Management (MBA Major in Strategy), Faculty of Management, Kharazmi University, Tehran, Iran
Abstract
Life insurance in Iran is still a small share of the insurance industry compared to the global average and compared to countries in the perspective region, despite the growing trend. The purpose of this article is to find the causes of this problem by specifying the related mechanisms. To achieve this goal, previous researches and interviews with industry experts have been used, and by applying the systems dynamics approach, the mathematical model of the problem has been created and simulated. The results of the model simulation show that the continuation of the current growing trend in the sale of life insurance and its production premium is possible for the next 10 years, and the most important factors that affect the future of the insurance industry are: the extent of the expansion of the network of agents and sales, sales efficiency of agents, and optimal management of financial resources in order to respond to established obligations. Evidence and analysis indicate that the future of this industry is more in the hands of its decision makers and policy makers than in the control of exogenous factors.
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