Original Research Paper
A. Zakeri; A. Afrazeh; H.R. Nouralizadeh
Abstract
Efficiency is a basic concept in the effective utilization of a firm’sresources, so it is an important factor in creating competitiveadvantage. In knowledge-based industries like insurance,Intellectual Capital (IC) has a crucial importance in the businessexcellence especially efficiency improvement ...
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Efficiency is a basic concept in the effective utilization of a firm’sresources, so it is an important factor in creating competitiveadvantage. In knowledge-based industries like insurance,Intellectual Capital (IC) has a crucial importance in the businessexcellence especially efficiency improvement of the firms. In thecurrent study which is based on a new realization of efficiency concept, the effect of IC on the efficiency is focused and the effect of selected IC indicators in the insurance industry on thefirms’ efficiency is investigated through an empirical study among17 Iran insurance companies during 2005- 2011. For this reason,the efficiency is measured via Data Envelopment Analysis (DEA)and to form the regression function between efficiency and ICindicators, Generalized Estimating Equations (GEE) has been utilized to consider data correlation. The results indicated that the human capital indicators (staff education) and thecompanies’ relational capital (the number of agencies) have positive effect on the efficiency, but the structural capital indicators (new products and product portfolio) have shown negative effect.
Original Research Paper
Z. Borumand; Z. Asen
Abstract
Adverse Selection and moral hazard are the results of theinformation asymmetry within the insurance market. Insurers mostly pay attention to the existence or non-existence of adverse selection. It is assumed that there are two risk levels (low and high risk). In the insurance market, based on the theory ...
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Adverse Selection and moral hazard are the results of theinformation asymmetry within the insurance market. Insurers mostly pay attention to the existence or non-existence of adverse selection. It is assumed that there are two risk levels (low and high risk). In the insurance market, based on the theory of adverse selection, individuals with high level risk demand higher insurance services compared to those with low level risk. The purpose behind the current study is examining the phenomenon of information asymmetry in the fire insurance market and its effects on the financial performance of an insurance company. The study group in the research contains claims during 2012-2013 in Tehran. Logistic regression of Chi-Square, Hasmer and Lemshow and Vale tests have been utilized to examine the significance of the relationships and goodness of fit. Then, the correlation between adverse selection and moral hazard within insurance market was tested. The results indicated that asymmetric information within the fire insurance market imposes enormous damages on the companies.
Original Research Paper
M. Mahmoudi Meymand; N. Mazloomi; F. Vojdani
Abstract
The purpose behind the current study is to identify the effective factors influencing on the innovation in the insurance companies and to institute the culture of innovation in the Iranian insurance industry to enable the insurance companies increase their role and effect on the society and with public ...
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The purpose behind the current study is to identify the effective factors influencing on the innovation in the insurance companies and to institute the culture of innovation in the Iranian insurance industry to enable the insurance companies increase their role and effect on the society and with public confidence, the insurance penetration coefficient in the country will improve. So, in order to reduce the problems and challenges facing the Iranian insurance industry and with purpose of improving the innovation in the Iranian insurance companies while studying and analyzing the patterns and different models of innovation and identifying the variables which affect the innovation in the insurance companies, the initial conceptual model which fits to the innovation in the Iranian insurance industry is designed and this model provided to the scholars, specialists and experts in the insurance companies and professors of university. Based on their view points, the comments were reviewed and considered and the field questionnaire prepared and after statistical analysis and evaluation of the involvement of each of the variables in the recommended model and testing its validity and applicability in practice, the innovative structural model for the insurance industry extracted and tested and some solutions to the innovation in the Iranian insurance industry provided.
Original Research Paper
P. Safamanesh; S.R. Hosseini; M. Oladian
Abstract
An organization which expands entrepreneurship is capable in regard of learning, innovation and effect on the environment. The learning organization models are suitable to investigate the entrepreneurship among the public organizartions. The current study is aimed at examining the role of learning organization ...
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An organization which expands entrepreneurship is capable in regard of learning, innovation and effect on the environment. The learning organization models are suitable to investigate the entrepreneurship among the public organizartions. The current study is aimed at examining the role of learning organization components on the employee’s entrepreneurial performance in an insurance company. The hypotheses have been extracted and tested based on the literature of the learning organization and the organizational entrepreneurship. The research method is Correlation Descriptive combined with documentary and Field Study methods. The statistical population includes 500 employees of an insurance company and 275 of them have been selected based on Cochran sampling and according to the standardized questionnaire of 55 questions with Cronbach Alpha of more than 0.7, Watkins and Marsik learning organization model and Zampetakis and Moustakis Entrepreneurial Performance based on the stratified and systematic sampling have been studied. Data analysis in both sections of descriptive (frequencies, mean and chart) and inference (one sample TTest, Pearson Correlation Coefficient and Multi- Sample Regression) has been done. Findings indicated that the insurance company under study is in the middle level based on the learning organization and entrepreneurial performance model and the independent variable of learning organization model has a strong and direct relation with the entrepreneurial performance. Also, there is a direct and significant (meaningful) relation between individual, team and organizational learning and entrepreneurial performance. Multi variable regression results indicated that learning organization component anticipated about 65.6% of the dependant variable of entrepreneurial performance. The research variable continuous learning and team learning are the most important components of the learning organization in explaining the entrepreneurial performance of the insurance company's employees.
Original Research Paper
M. Teimourian; A.T. Payandeh Najafabadi; M.Gh. Vahidi Asl
Abstract
Computing relative premiums in Bonus-Malus systems based on Bayesian methods is used and confirmed by most of actuaries, but due to the complexity of computations, the obtained results based on the Bayesian methods are not utilizing and suitable for use in practice. Two new methods for evaluation of ...
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Computing relative premiums in Bonus-Malus systems based on Bayesian methods is used and confirmed by most of actuaries, but due to the complexity of computations, the obtained results based on the Bayesian methods are not utilizing and suitable for use in practice. Two new methods for evaluation of relative premium in the Bonus-Malus system have been proposed in the current article. The first method is based on using Maximum Entropy Theory (Maximum Uncertainty) and the second method is based on Bayesian inference for constrained parameters space under the existence of Serial relation conditions. The proposed methods are compared with Bayesian method utilizing the standards measures and optimum results obtained. Finally, the relative premium calculated utilizing the proposed methods are compared with the applied amounts in the Iranian Bonus-Malus system and the results indicated that the current system must improve.
Original Research Paper
M. Razzaghiy; M.R. Zare Mehrjerdi; A. Kianirad; S. Nabieian
Abstract
Agriculture is a risky activity. In this field, all types of natural, societal and economical risks provide a susceptible environment for the producers. Supporting the producers in agriculture sector against revenue fluctuations plays an important role in increasing motivation and production. The government ...
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Agriculture is a risky activity. In this field, all types of natural, societal and economical risks provide a susceptible environment for the producers. Supporting the producers in agriculture sector against revenue fluctuations plays an important role in increasing motivation and production. The government develops schemes and policies to support the producers, and performance insurance is one of them. Crop insurance supports the farmers against the loss of and or damage to farmer and prevents the farmers' revenue fluctuations. In this study, it’s been tried to model the farmers' participation in the rice insurance scheme in Qaemshahr County. To do so, using Positive Mathematical Programming (PMP), the farmers' behavior in regard with participating in rice crop insurance scheme and the consequence of this participation was studied. The required data was collected from the farmers of Qaemshahr County for a three-year agricultural period (2011-2013) via questionanaire. Based on the results of this study, introducing the rice crop insurance to the farmers, all of the representative farms in the insurance scheme participated in. An increase in the under-cultivation rice farms and their gross margin was the result of this participation. Decreasing the governments support of the insurance premium, will have negative effect on the increasing of the under-cultivation rice farms and their gross margin.
Original Research Paper
H. Aghazadeh; Gh. Mahdavi; A.R. Elahi Choren
Abstract
The effective companies in the Iranian insurance industry have a strong competition disregarding especial components and the importance of a service industry. This has made a red ocean in the insurance industry. Hence, it is necessary to follow innovation strategies and to reduce or eliminate unnecessary ...
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The effective companies in the Iranian insurance industry have a strong competition disregarding especial components and the importance of a service industry. This has made a red ocean in the insurance industry. Hence, it is necessary to follow innovation strategies and to reduce or eliminate unnecessary activities in order to focus on the real demands of the costumers. This will create value innovation which will facilitate any access to the blue ocean industry. In this descriptive-survey study, the performances of some active companies in the insurance industry have been investigated in terms of convenience, internet services, relational quality, quality of services, brand, physical evidence, price, and creativity using One Sample T-Test, Analysis of Variance (ANOVA), Tukey, and LSD.Then, utilizing the Strategy Canvas and Four Actions Framework as the tools of blue ocean strategy, the innovation strategy in the insurance industry has been investigated The results indicated that the dimensions of internet services, physical evidence, and creativity have incompetent performance and active companies of the insurance industry have similar performance in all dimensions but the physical evidence. Next, to obtain blue ocean of Iranian insurance industry in terms of Four Actions Framework, four actions of creating, raising, reducing, and eliminating have been characterized.
Original Research Paper
H. Arazmjoo; V. Nasehi Far; M.T. Taghavi Fard
Abstract
Insurance industry has faced many changes during the recent decade, most of which are difficult, complex, ambiguous and unavoidable which made planning, directing and maintaining the organizational changes difficult. The purpose behind the current study is providing an integrated model to manage any ...
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Insurance industry has faced many changes during the recent decade, most of which are difficult, complex, ambiguous and unavoidable which made planning, directing and maintaining the organizational changes difficult. The purpose behind the current study is providing an integrated model to manage any change of the complex events– that is inherent nature of any change- by identifying relationships between the critical elements. In such amodel, the institutional factors and cultural context of the organization of the changing firm should be considered which is of importance in Iranian organizations because of their significant differences with the western organizations. In this study, 21 successful manager and successful factors in insurance companies were interviewed and after a content analysis the gathered data of the interviews and organizational documents, were analyzed and screened by Fuzzy Delphi Method (FDM) to ensure expertconsensus and on the other hand, to cover ordinary mind uncertainty. This model contains 4 dimensions, 15 components and 41 variables and tries to help the insurance companies analyze the current status and optimize the successful experiences of other organizations and take a step regarding executing successful and stable changes.
Original Research Paper
B. Abbasloo; M. Karami Ghahi
Abstract
Nowadays civil liability, insurance and social security are three major partners of the loss compensation system. If damages are recoverable through the civil liability or collateral benefits (insurance and social security) the problem of collecting the sums payable through insurance, social security ...
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Nowadays civil liability, insurance and social security are three major partners of the loss compensation system. If damages are recoverable through the civil liability or collateral benefits (insurance and social security) the problem of collecting the sums payable through insurance, social security and the right to indemnity through civil liability system should be considered. There are different policies to apply the issue among which the most reliable one is indemnifying by thr insurer and then referring to tortfeasor under the subrogation principle. It is one of the principles accepted in worldwide legal systems. This principle is infact the principle of indemnity complement. Since most of the losses arising from the civil liability are being compensated through insurance companies, theimplementation of this principle will make the aggrieved party not to receive more than what is suffered and the tortfeasor will pay for his actions. Implementing the principle, all rights and duties of the policyholder will be transmitted to the assignee. At the same time applying this principle will not impose any duty on the insured. The rules governing the principle of succession are not imperative, so any agreement contrary to the principle is acceptable.
Original Research Paper
D. Seify Ghare Yatagh; V. Hasani; M. Mehdipour
Abstract
The human right to having a healthy environment is considered as one of the most significant human rights mentioned in various international human rights documents. One of the threatening factors of this right is oil pollution which is resulted from oil carried by ships or their fuel. According to the ...
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The human right to having a healthy environment is considered as one of the most significant human rights mentioned in various international human rights documents. One of the threatening factors of this right is oil pollution which is resulted from oil carried by ships or their fuel. According to the conventions regarding the oil pollution, shipowners are liable for oil pollution damages, but in most cases they will face insolvency. The Civil Liability Convention (CLC) and its subsequent amendments and Bunker convention use the compulsory insurance system as a guarantee for compensation of oil pollution damages. In this system, ship-owners are obliged to obtain insurance or other financial guarantee from reputable international insurers. This policy should cover all risks of ship-owners, their agents and brokers. But the damages caused by force majeure, fault and negligence of third party, and intentional damages are not covered. This requirement to obtain an insurance cover or a financial security to enter the territorial waters and exclusive economic zone of a contracting state applies only to vessels with a capacity more than one thousand tons in respect of bunker oil pollution and two thousand tons in respect of oil cargo pollution. Hence this paper attempts to explain the legal aspects of insurance guarantee conditions, risks covered, the insurer's liability and exclusions.
