Original Research Paper
Insurance pricing
M. Manteghipour; M. Aalaei
Abstract
Objective: Some Iranian insurance companies issue third-party insurance policies at lower rates to attract more premiums and a larger portfolio, and therefore offer higher discounts. In this article, we are looking for the answer to the question of how the insurance premiums affect the claim rates.Methodology: ...
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Objective: Some Iranian insurance companies issue third-party insurance policies at lower rates to attract more premiums and a larger portfolio, and therefore offer higher discounts. In this article, we are looking for the answer to the question of how the insurance premiums affect the claim rates.Methodology: The effect of vehicle third party insurance discount rates was examined using the data of an insurance company during 6 years. The discount rate was very scattered in the data. Therefore, it was necessary to use a method to determine in which year the claims rate was higher to study how the discounts affect the claims rate. Hence, we have constructed fuzzy numbers using the discount rate quarters and have ranked these numbers using the appropriate method.Findings: The results show that the more premium discounts, the riskier risks are gathered. Also, more discounts for auto cars have been less attractive and this type of car has a lower loss ratio.Conclusions: Overall, the result of this study shows that the premium reduction strategy, in addition to reducing the company's income from insurance premiums, leads to an increase in the loss ratio due to the issuance riskier policies.JEL Classification: C10, E30, G22
Original Research Paper
M. Gholamaliyan; A. Safari; M. H. Moshref Javadi; H. Teimouri
Abstract
Purpose: The purpose of this study is to identify and test the effective and affected variables of succession planning in an insurance company in Isfahan, Iran.Methodology: This study was conducted using mixed methods and descriptive-exploratory approach. The statistical population included academic ...
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Purpose: The purpose of this study is to identify and test the effective and affected variables of succession planning in an insurance company in Isfahan, Iran.Methodology: This study was conducted using mixed methods and descriptive-exploratory approach. The statistical population included academic experts and insurance industry experts in the qualitative study and employees working in Isfahan and Tehran branches of the studied insurance company in the quantitative study. Twenty-one persons participated in the qualitative part of the study using purposive sampling method and 458 employees participated in the quantitative study using the random classification method. Data was collected through the semi-structured interview for the first phase of the study and a 109-questions valid and reliable researcher-made questionnaire for the second phase of the study.Findings: Factors affecting succession planning were grouped into personal, organizational, and environmental categories. The establishment of a succession planning system in the studied insurance company will lead to individual, organizational and environmental consequences.Conclusion: The results demonstrated that factors such as the need to be acknowledged and feeling useful, employees' attitudes toward the future management of the organization, improving employees’ productivity, the human resource standards, and the competitive environment’s requirements affect succession planning. Establishment of the succession planning system in the studied insurance company also leads to the development of individual knowledge and skills, increasing employees’ self-confidence, utilizing a wide range of talents, forming a skill treasury, identifying talented people for managerial positions, and so on.JEL Classification: J24, M51, M54
Original Research Paper
Insurance Social Studies
M. Ghasemi; A. Davarzani
Abstract
Objective: Agricultural insurance is a risk management tool for the achievement of production goals, and a mechanism to create a safe environment for agricultural production revenues, to protect farmers against natural disasters, to ensure the sustainability of agricultural practices, and to maintain ...
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Objective: Agricultural insurance is a risk management tool for the achievement of production goals, and a mechanism to create a safe environment for agricultural production revenues, to protect farmers against natural disasters, to ensure the sustainability of agricultural practices, and to maintain health, and accreditation mechanism in the agricultural sector. Research shows that agricultural insurance, despite decades of operation in Iran, has not been well received by farmers, especially smallholders, as a mechanism for protection of their products. As such, the level of insurance coverage for horticultural and agricultural products, far from the 50% coverage goal set for the country, is below 20%. Since agriculture is basically a risky economic activity, especially for smallholders, and the purpose of insurance is to promote a sense of security among farmers in a bid to properly and efficiently exploit the production parameters and make investment in new agricultural technologies, it is inevitable to offer strategies that can boost the demand for insurance. Accordingly, the present study aims to identify and prioritize the optimal strategies for the promotion of agricultural insurance among smallholder farmers.Methodology: This is an applied-developmental research that adopts a descriptive-analytical method. Data analysis was performed using two strategic management tools, SWOT and QSPM. Based on field survey and document analysis, 15 merits and 23 constraints associated with the expansion of agricultural insurance coverage among smallholder farmers were identified. In addition, ideas of 160 farmers with and without insurance were sought using a questionnaire on a five-point Likert scale. Data analysis was performed using SPSS, EXCEL and Arc Gis software. Cronbach's alpha coefficient of the questionnaire was estimated at 0.765, which indicates the good reliability of the research tool.Results: The final score of the internal and external factors evaluation matrix was computed for farmers with insurance (IFE = 2.329, EFE = 1.801), farmers without insurance (IFE = 2.301, EFE = 1.826), and all respondents in general (IFE = 2.313, EFE = 1.812). "Defensive" strategies were identified as the optimal strategy to promote agricultural insurance among smallholder farmers. Finally, using the quantitative strategic planning matrix, out of 10 strategies presented, "scientific explanation of obstacles to agricultural insurance promotion and sponsoring research on determinants of insurance acceptance by stallholder farmers" was introduced as the main strategy with a score of 4.5. Conclusion: Considering that more than 60% of agricultural production units in Iran are smallholders, it is crucial to promote agricultural insurance among smallholder farmers using the proposed defensive strategies. In this regard, by overcoming internal flaws such as poor financial status and low income of smallholder farmers, inability to pay insurance premium, unfamiliarity of farmers with the operations and compensation of agricultural products by insurance companies, poor farm management skills, small-sized and scattered lands of famers, and external threats such as climate-related risks, non- competitive nature of agricultural insurance services, and poor quality of damage assessment by agricultural insurance companies, among other things, can contribute to the promotion of agricultural insurance among smallholder farmers. JEL: Classification: Q01, Q14, Q48, R28, R0, Q10
Original Research Paper
H. Rangriz; A. Hasanpoor; S. Jafari Nia; S. Shiri
Abstract
Objective: Although deviance in the workplace is in most cases destructive in nature, it may also have some benefits. In recent years, due to the fact that positive deviation can lead to positive changes in organizations and promote innovation, there has been great interest in this type of deviation ...
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Objective: Although deviance in the workplace is in most cases destructive in nature, it may also have some benefits. In recent years, due to the fact that positive deviation can lead to positive changes in organizations and promote innovation, there has been great interest in this type of deviation in organizations. Therefore, the purpose of this study is to design a model of positive deviant behaviors of employees in the Iranian insurance industry.Methodology: This qualitative study was conducted using the Strauss and Corbin grounded theory methodology. Data was collected through semi-structured interviews with 16 participants selected using the purposive and snowballing methods from 7 insurance companies. The triangulation strategy was used for validation. Also, for the reliability test of the interviews, the reliability of the retest (stability index) and the method of intra-subject agreement were used, which obtained 84 and 93% results, respectively.Finding: After analyzing all the interviews, 231 primary codes were identified, which after refinement became 57 concepts, 23 sub-categories and 6 main categories. The core phenomenon was explained in the form of 5 categories of creative and innovative work behaviors, respectful and well-motivated violations of organizational norms and laws, organizational citizenship behaviors, fair criticism of managers and the organization, and whistle-blowing.Conclusion: Due to the movement of Iran's insurance industry towards a competitive environment, the importance of positive organizational behaviors has been increasingly important and in this regard, providing grounds for the occurrence of behaviors such as positive deviant behaviors can facilitate the achievement of predetermined goals.JEL Classification: D23,C91,C92
Original Research Paper
Marketing and Sales
H. Rezaei; M. Zamani
Abstract
Objective: The present study aimed to determine the effect of brand personality traits on brand loyalty with respect to the mediating role of compatibility and customer satisfaction in an insurance company in Gorgan, Iran.Methodology: This research is applied in terms of purpose and is conducted as a ...
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Objective: The present study aimed to determine the effect of brand personality traits on brand loyalty with respect to the mediating role of compatibility and customer satisfaction in an insurance company in Gorgan, Iran.Methodology: This research is applied in terms of purpose and is conducted as a descriptive survey. The statistical population of the study is consisted of all insurance customers in Gorgan. The sample size was 384 persons according to Krejcie and Morgan table and simple random sampling method was used. Data analysis was performed by structural equation method with LISREL software.Results: The results showed that brand personality traits affect compatibility. Brand personality traits affect customer satisfaction. Compatibility affects brand loyalty. Customer satisfaction affects brand loyalty. Compatibility affects customer satisfaction. Brand personality traits affect brand loyalty.Conclusion: Today, companies are looking to retain customers. The image of the brand personality in the minds of customers is one of the prominent structures in the formation of brand loyalty in an organization. According to the results, it can be said that brand personality traits improve brand loyalty through compatibility and customer satisfaction.JEL Classification: M31, M39, M37, M20.
Original Research Paper
Insurance rights
S. Mohseni; S.H. Tahami; M. Robati
Abstract
Objective: This study seeks to study the examples of "inopposability of exceptions against third parties" in the Third Party Insurance Law adopted in 2016, by comparative study with French law, to analysis the "principle of inopposability of exceptions in third party insurance" in Iranian law with inductive ...
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Objective: This study seeks to study the examples of "inopposability of exceptions against third parties" in the Third Party Insurance Law adopted in 2016, by comparative study with French law, to analysis the "principle of inopposability of exceptions in third party insurance" in Iranian law with inductive method and to achieve an extractive principle that can be applied with a combination of conditions in cases of doubt.Methodology: The present study is a comparative study between Iranian law and French law regarding to the third party insurance, which has been compiled using the library method and referring to legal texts and doctrine in an analytical-descriptive method.Findings: Considering the contractual nature of the relationship between the insurer and the insured, in principle, the insurer's liability to the injured party should be analyzed within the limits of the insurance contract and the insuring party's liability, in such a way that the insurer can rely on the exceptions related to the contract to relieve its liability. While in the Compulsory insurance law for damages to third parties due to accidents caused by vehicles approved in 2016, there are several examples that despite the contractual exceptions, the insurer is responsible for compensating third parties. In fact, the insurer's contractual exceptions cannot be opposable against third parties, and the insurer remains liable.Conclusion: The rule of inopposability of exceptions in compulsory third party insurance, which is now seen in other countries inspired by French law, is also introduced in Iranian law by induction in the third party insurance law approved in 2016, and can be used in doubts.JEL Classification: G22, K49, K12
