Original Research Paper
Comparative studies in the field of insurance
A.R. Alavi Dehkordi; M. Shahbazinia; M. Izanloo
Abstract
BACKGROUND AND OBJECTIVES: In this article, an attempt has been made to analyze the views of judges and legal writers on the functions of the principle of subrogation in insurance and the views of proponents and opponents.METHODS: The present study is a comparative study that was compiled using the library ...
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BACKGROUND AND OBJECTIVES: In this article, an attempt has been made to analyze the views of judges and legal writers on the functions of the principle of subrogation in insurance and the views of proponents and opponents.METHODS: The present study is a comparative study that was compiled using the library method and referring to legal texts and related sources, especially judicial opinions.FINDINGS: The insurance contract as a credit nature and insurance as an industry are based on the principles that together, form the insurance institution and directs it to its intended purpose. Article 30 of the Insurance Law refers to the principle of subrogation, which is one of the practical principles governing compensation insurance. That is to say, if a risk occurs under the insurance coverage as a result of personal harm and if the risk occurs, the insurer must compensate for the damage according to the insurance contract. Subsequently, the insurer will have the right to refer to the cause of the loss in order to recover the amounts paid by the insurer. The principle of the insurer's subrogation is a function of the principle of compensation. This means that the insurer does not benefit from the occurrence of the loss and the loser is not unnecessarily absolved of the responsibility that is the direct result of his/her act or omission of the harmful act, and of course the insurer should not make a bonanza profit. The result of this triangle of right for the insurer will be accompanied by a fall in the premium due to the loss factor that all of which have led to the principle of subrogation in insurance. The deputy is the only principle whose existence has been criticized in insurance, and in other words, not only its "principle" as a necessity, but also its basis as an advantage has been questioned.CONCLUSION: The regulation of the three legal relationships among the people involved in insurance- the insurer, the insuree and the Cause of loss- is found in the principle of subrogation and its necessity for the insurance industry is inevitable. It should not be considered unnecessary to be removed. Instead, costs should be reduced by modifying and simplifying how to get to the deputy including the provision of administrative and non-judicial subrogation instead of judicial formalities which preserve its benefits and finally, the subrogation functions were achieved. It is expedient to have a subrogation in insurance to the extent that this right can be negligently interpreted as a "principle". Although the title of the principle for subrogation differs from what is discussed in other insurance principles, but opponents - whether in the position of a principle or in the position of right- is a replacement. It is basically not subrogation in this contract. If a comprehensive set of rules for succession in order to facilitate the recovery of funds from the perpetrators of the accident is prepared and approved, such as banning car traffic before paying damages or an extraordinary review of insurance replacement cases and the issuance of collateral without possible damages it can reduce the problems in reclaiming damages.
Original Research Paper
Marketing and Sales
V. Daemi; H. Dehghanan; V. Khashei; S. Sehat
Abstract
BACKGROUND AND OBJECTIVES: Today, the insurance industry has a key role in facilitating and promoting economic activities in society, and this industry is one of the leading and important sectors in the economy and capital markets. This study aims to provide a basic model of sustainable leadership in ...
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BACKGROUND AND OBJECTIVES: Today, the insurance industry has a key role in facilitating and promoting economic activities in society, and this industry is one of the leading and important sectors in the economy and capital markets. This study aims to provide a basic model of sustainable leadership in the Iranian insurance industry.METHODS: The grounded theory method was used to collect information using interviews. The interview of this research was designed using the CAR framework which Identified Context that show the problem of Insurance Industry and by action try to find proper and suitable way to solve this problem in the best way and finally the results determine what is the result of this action and how the insurance company benefits from the results. The snowball method was used to select the research samples. Thus, a panel with the participation of 25 experts; separately, 10 academic elites - faculty members and professors of university management - and 15 experts in the insurance industry - experienced and skilled managers in the Deputy of Management Development and Human Capital of Central Insurance - were created.FINDINGS: In this study, the systematic data approach of the grounded theory has been used. This approach, discussed in the joint work of Strauss and Corbin, inductively uses a systematic set of procedures to formulate a theory of a phenomenon. According to the systematic approach, theorizing is done in three main steps: open coding, axial coding and selective coding. After implementation, textual data were analyzed using this approach, and finally a paradigm model of research based on the grounded theory approach was developed, based on which the components of the causal condition include culture, sustainable behavior, continuous learning; Intervention components include: stable communication, understanding of challenges; The components of the action/interaction include: leadership habits, sustainable leadership skills, capacity building for creativity; phenomen categories include leadership activities, creative systems, quality products and services, development and trust in members, challenges and innovation, and long-term reflection; components of the effects of sustainable leadership include three components duch as decisive decision making, resilient economics, promoting resilience in society and finally the components of consequence for the insurance industry including improving financial performance, gaining competitive advantage and continuous improvement were identified.CONCLUSION: The results show that the basic model of sustainable leadership in the insurance industry revolves around the phenomen category of leadership activities that are formed under the influence of causal conditions. This process begins with causal conditions and leads to the formation of a phenomen category, which is the leadership activities of the insurance company, which help to develop insurance by using strategies, and the result is knowledge creation, gaining a competitive advantage and developing insurance. Roadmap and resistance economy are also conditions that interfere with the leadership activities of the insurance company and behaviors, skills and behavioral styles are among the conditions for the implementation of sustainable leadership strategies in the insurance industry. Implementing sustainable leadership in the insurance industry and creating security and trust will pave the way for the expansion of manufacturing and service activities, in other words, other insurance companies will reduce anxiety by compensating by creating stability in society. Insurance companies are also good substitutes for government social security programs.
Original Research Paper
Marketing and Sales
M. Mahmoudi Maymand; M. H Hossinei; M. M Parhizgar; I. Azizi
Abstract
BACKGROUND AND OBJECTIVES: Today, the marketing and sales managers of many insurance companies have experienced that customers who have already used the products or services of a company and are willing to share their experiences, play an essential role in the buying process of buyers and reassuring ...
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BACKGROUND AND OBJECTIVES: Today, the marketing and sales managers of many insurance companies have experienced that customers who have already used the products or services of a company and are willing to share their experiences, play an essential role in the buying process of buyers and reassuring them. Previous studies show a lack of a local model of customer reference and factors affecting it in the insurance industry. Therefore, the purpose of this research is to fill the existing research gap in this field.METHODS: Using a mixed methods approach (qualitative-quantitative), in the first step after conducting library studies using the Delphi technique and the participation of specialized panel members consisting of 23 academic experts and senior managers and experts and the marketers of insurance companies, provided the customer reference model. The data collection tool at this stage was a questionnaire. Then, in the second step and in the quantitative stage, in order to fit and test the obtained pattern, With Smart-PLS software, structural equation analysis and path analysis using partial least squares method were used. The statistical population of the study at this stage was 1400 marketing and sales experts of insurance companies in Fars province who are actively involved in the sale of insurance products and services. Cochran's formula was used to select the sample size and therefore the statistical sample was determined to be 301 people.FINDINGS: It indicates that 4 categories of customer-related factors, company-related factors, customer satisfaction, nd customer loyalty lead to the formation of customer reference for insurance companies. The results also showed that customer-related factors (Customer experience of the company; Perceived value; customer interaction with the company; consumer hope; Confidence and trust of the customer and alternative attractions) can better than other factors in the formation of reference be an effective customer. According to the research results, customer-related factors as well as factors related to the company both lead to customer satisfaction and loyalty, and through this we can expect customer referral, and customer referral has significant consequences for insurance companies, including creating customer value will increase the value of customer participation, create a customer reference portfolio and promote the company's brand value. Therefore, customer-related factors and company-related factors can lead to the formation of customer reference for insurance companies when customer satisfaction and loyalty are first established and without it, achieving customer reference results and benefiting from them is not the way.CONCLUSION: One of the biggest marketing assets of insurance companies is their current customers. Insurance companies can use the marketing potential of their existing customers without spending a lot of money on advertising for their new audience. Intense competition makes it harder to find new ways to sell more, and winning a competitive market requires seizing every opportunity. By emphasizing the identified criteria, insurance companies, while evaluating customer reference opportunities in the industry, can make the right decisions about how to take advantage of opportunities to increase competitiveness by gaining a competitive advantage. The influence of insurance and ultimately the economic growth and development of the country. Insurance companies can improve customer value creation attitude, customer appreciation and customer citizenship behavior, as well as strengthen customer longevity and referral value and customer knowledge by using customer reference. It can also improve the brand association, brand image and brand identity of the company in the minds of customers. Finally, reference customers can benefit from disseminating information related to service quality and recommending services word of mouth to other customers of the company.
Original Research Paper
New Insurance Technologies
K. Salamat; F. Nazari
Abstract
BACKGROUND AND OBJECTIVES: The purpose of this research is to identify and rank the appropriate features of Iran Insurance Company's portal content management system using Analytic Hierarchy Process (AHP) technique in 2019.METHODS: This research was applied in terms of its purpose and descriptive in ...
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BACKGROUND AND OBJECTIVES: The purpose of this research is to identify and rank the appropriate features of Iran Insurance Company's portal content management system using Analytic Hierarchy Process (AHP) technique in 2019.METHODS: This research was applied in terms of its purpose and descriptive in terms of its implementation method, survey type and exploratory nature. The statistical population of this research includes two categories of all employees and experts of Iran Insurance Company in Khuzestan province. Overll 95 employees and 15 managers, heads of departments and users of the informatics department as experts in Khuzestan province were recuited in this study. Delphi and AHP techniques and SPSS and Expert Choice softwares were used in this research. A questionnaire was developed and distributed among employees to identify the appropriate features of Iran Insurance Company's portal content management system. Cronbach's alpha method was used to test the reliability of the questionnaire. It was greater than 0.7 Thus, the reliability of the questionnaire was good. In the third stage questionnaire, reliability was evaluated by examining the incompatibility rate of comparisons in Expert Choice software. Since the incompatibility rate for all comparisons was less than 0.1, the accuracy of the comparisons was confirmed.FINDINGS: Based on the results of Delphi technique, 42 questions (8 main factors and 34 sub-factors) were identified as important. Hierarchical analysis method was used to rank the factors. Based on the results of information factors with a weight of 0.202, history and objectives with a weight of 0.177, simplification of complex components with a weight of 0.150, fit of portal and portal extension with the organization with a weight of 0.127, words with a weight of 106 0.0, portal information accumulation with a weight of 0.092, portal links with a weight of 0.087 and publications with a weight of 0.067 were ranked first to eighth, respectively.CONCLUSION: According to the results of this study, the hierarchical analysis technique can be used to identify and rank the appropriate features of the content management system of the portal of Iran Insurance Company. Information agents have the highest rank in the content management system of the portal of Iran Insurance Company and publications have the lowest rank in the content management system of the portal of Iran Insurance Company.
Original Research Paper
New Insurance Technologies
M. Pahlavanian; M. Shirkhodaie; S. Ghazinoory
Abstract
BACKGROUND AND OBJECTIVES: The insurance industry is one of the indicators of development in the country. Insurance in Iran is facing the challenge of low penetration rate among the people. Thus, it needs to change the way of providing services and increase the attractiveness of the services in order ...
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BACKGROUND AND OBJECTIVES: The insurance industry is one of the indicators of development in the country. Insurance in Iran is facing the challenge of low penetration rate among the people. Thus, it needs to change the way of providing services and increase the attractiveness of the services in order to be welcomed by the people. Insurtechs are fintech companies that provide insurance services based on technological innovation. They play an important role in improving the insurance ecosystem and help to improve the efficiency of traditional insurance. Insurtechs have an effective role in increasing insurance penetration by providing customized and cost-effective services. Despite the understanding of this important issue by decision makers in the field, the services of insurtechs in Iran are limited to the sale of insurance products and could not fully cover the insurance value chain. Therefore, this study aims to investigate and analyze the socio-technical transition to insurtech in Iran.METHODS: This study using a systematic review, aims to explain the transition process and identify the transition path to insurtechs. The research paradigm is interpretive and uses the analytical framework of the Technological Innovation System and the Multi-Level Perspective. Since the research on complex phenomena such as transition cannot be reduced to models with precise methodological methods and requires the creative interpretation of the researcher, therefore, the qualitative research method of narrative-research has been used. Data were collected through the study of central insurance and regulation documents and reports and interviews published in fintech media from 2014 to 2021. A total of 107 reports were reviewed, of which 52 were related to the discussion and contained the opinions of 50 experts in various fields of the country's insurance, which were reviewed and coded.FINDINGS: In this study, in the first step, the functions of technological innovation system in insurance were identified, which include: providing technological infrastructure, formation of communications, knowledge exchange, policymaking and legislation, informing citizens, financing, human resource development, research and providing innovative insurance services. In the second step of the research, the actors who perform these functions were identified and the behavior of the actors of the regime against the innovative services of startups was investigated. Then, according to whether the actors of the regime perceive technological developments and institutional changes as symbiotic or competitive, the transition path of Insurtech was identified.CONCLUSION: Following the developments resulting from the introduction of technology into insurance at the international level, the incumbent actors have begun a slight shift and gradual institutional changes. The incumbents of the insurance industry are aware of the importance and necessity of innovation in insurance and have accepted the services of startups. The relations between insurtechs and the incumbent actors in the regime have been symbiotic, which improves the performance of the insurance industry. However, due to the fact that the conditions for startups to provide various services and products and cover various stages of the insurance chain such as damage assessment and risk assessment are not provided, therefore, innovative companies have a low level of development; Therefore, the path of transition to insurtech has been a path of transformation.
Original Research Paper
Insurance rights
A. Sharifi
Abstract
injured party. Thus, by fulfilling the pillars of civil liability (harmful act, loss and causal relationship), the damage caused to the injured party must be compensated. Article 1 of the Civil Liability Law says: "Individuals who cause damage that cause other material or moral damage are responsible ...
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injured party. Thus, by fulfilling the pillars of civil liability (harmful act, loss and causal relationship), the damage caused to the injured party must be compensated. Article 1 of the Civil Liability Law says: "Individuals who cause damage that cause other material or moral damage are responsible for compensating the damage caused by their actions." The primary purpose of the civil liability system is to compensate for the damages suffered by the injured party, and the means must be provided for him/her to compensate for the damages so that his or her condition is restored to the point before the loss. However, following the enactment of the new compulsory insurance law in 2017 in note 3 of article 8 regarding the compensation of motor vehicle accident, the legislator has specified the amount of compensable damages through third party insurance or the culprit of the compensable accident. Therefore, recognizing the basis of the above rule is important. "Financial damages resulting from traffic accidents can only be compensated to the extent of the corresponding damages to the most expensive conventional car through third party insurance or the culprit of the accident." In Note 4, the conventional car is considered to be a car whose price is less than fifty percent of the insurer's physical obligations at the beginning of each year. According to the above rule, if the car belonging to the injured party is expensive and luxurious, all the damages will not be compensated, but the law can only compensate up to half of the bodily damages per year through the injured party and the damaging liability to compensate the damage. It has been restricted in this regard.METHODS: This issue has been studied by descriptive-analytical method to identify the principles accepted by the legislator. Thus, the principles of civil liability have been studied in legal doctrine, jurisprudential opinions, judicial procedure and also with regard to comparative law. Existing theories about the possible foundations of the rule have been stated and examined to finally identify the basis accepted by the legislature for such a rule. Because all damages to the victim must be compensated, now the question arises that what effect does the high cost of the car have on the amount of liability for the loss? While the liability should have been compensated, regardless of the high cost of damages, all damages to the person.FINDINGS: Prior to the enactment of the above rule, the injured party should have considered all damages to the car, regardless of the type of vehicle and the amount of damage. However, the new law has created a new rule contrary to the previous rules and thus the need to review the principles of the law and analyze why. The limits of such a rule are all the more necessary. Several theories in this regard, including unpredictability of damage to expensive cars by the injured party, damaged action, human rights intervention in fair compensation and the economic basis of compensation (including directing liability to the body insurance and scrapping the premium and expensive car owner) after compensation can be mentioned to justify such a rule. First, the principle of compensation and its violation by the above rule and finally the principles in this regard, including the ability to predict damages, harmed action, the involvement of human rights standards in achieving fair and equitable compensation and finally the economic foundations of such a rule have been examined.CONCLUSION: The results of this study indicate that the limitation of liability in this regard due to the observance of the compensatory status in fair and reasonable compensation, as well as justification based on economic perspective and the loss of the owner of expensive cars more than the amount of compensable damage, are the justifying principles of such a rule. However, these seem to be the basics for luxury cars. In the case of cars dedicated to public services, despite being expensive, such a rule of limitation of liability cannot be justified.
Promotional-Science Article
Insurance Companies Accounting and International Financial Reporting Standards
A. Rahmani; M. Mahmoudkhani; S. Homayoun; L. Niakan
Abstract
BACKGROUND AND OBJECTIVES: The insurance industry plays an important role in sustainable development. Sustainability key factors potentially are essential to success of the insurance sector. Iran's insurance industry is facing sustainable development issues such as rapid population growth, lack of access ...
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BACKGROUND AND OBJECTIVES: The insurance industry plays an important role in sustainable development. Sustainability key factors potentially are essential to success of the insurance sector. Iran's insurance industry is facing sustainable development issues such as rapid population growth, lack of access to insurance for low-income people, the climate change risk, social issues such as population aging and issues related to governance, accountability and transparency. Sustainability reporting helps to have a good understanding of these issues. Sustainability reporting helps identify insurance industry risks.Sustainability reporting examines environmental, social, and governance issues. Few companies prepare sustainability reports in Iran. But no company in the insurance industry has published a sustainability report yet. The purpose of this paper is a comparative comparison of sustainability reporting standards in the global insurance industry.This study also examines the status of the sustainability reports publication of insurance companies in the world.METHODS: In this study, analyzing content was used to assess the status of sustainability reporting in the insurance industry. Data extracted from the Global Reporting Initiative database. Sustainability standards and guidelines were reviewed through comparative comparison.This paper has examined the standards of the Global Reporting Initiative and The Sustainability Accounting Standards Board, the guidelines of the Responsible Investment, the Sustainable Insurance Principles, and Climate-related Financial Disclosures. These guidelines and standards are used by the leading insurance companies. Regulation of the Iranian insurance industry that can help to prepare sustainability reporting was also reviewed.FINDINGS: Findings indicate that the stakeholders of sustainability reports differ in different sustainability standards and guidelines. The Global Reporting Initiative standards focus on the interests of all stakeholder groups; while the Sustainability Accounting Standards Board emphasizes the interests of investors. Principles of Sustainable Insurance and Standards of The Sustainability Accounting Standards Board are specific to the insurance industry; while the standards of the Global Reporting Initiative do not focus on a specific industry. A review of Iranian insurance industry regulations shows that most of the information needed to disclose sustainability issues is available. However, the preparation of sustainability reports is essential to cover all aspects of the environment, society, and governance. The findings also indicate that the status of published sustainability reporting is increasing in the insurance industry. The use of auditing firms to ensure sustainability reports is a priority.CONCLUSION: There are various standards and guidelines in the field of sustainable development and environmental, social, and governance issues.The different guidelines and frameworks for sustainability reporting highlight the need for an integrated framework for sustainability reporting. The comparability of sustainability reports has become difficult due to the variety of different guidelines. Iranian insurance companies can use the guidelines and standards of sustainability reporting to identify specific components of insurance industry sustainability reporting. Given the pressure of stakeholders and the emphasis of international institutions such as the United Nations and the growing trend of mandatory sustainability reporting, the research findings emphasize the need to prepare sustainability reports by Iranian insurance companies.
