The research aims to analyze the firm-specific and macroeconomic factors that affect insurance company’s financial performance. The research explores the variables that influence the financial performance of the United Arab Emirates (UAE)’ insurance companies. The analysis for determining financial performance considers the following variables: the firm’s age, retention ratio, capital adequacy, underwriting risk/loss ratio, financial-leverage, reinsurance dependency, and macro-economic factors such as GDP per capita, inflation rate considered as independent factors. The return-on-asset (ROA) is the key measuring indicator; it is regarded as the dependent variable for financial performance measures. The research focuses on secondary information obtained from insurance companies’ financial statements. The researcher targeted 18 insurance companies listed on the UAE stock exchanges for study purposes. The research examines the overall factors that influence the financial performance of an insurance company. For analysis of data, software package of social sciences (SPSS version 20) is used. The studies used correlation and multiple linear regression analysis to determine financial performance and their effects. The analysis suggests that there are important and constructive relationships between the size, capital adequacy, and reinsurance dependency, while loss ratio, retention ratio, and financial leverage indicate a major negative relationship. And there’s no link between GDP per capita and inflation.

The aim of this article is to investigate the relationship between insurance and economic growth at aggregate and disaggregate level for the period 1982-2018. Very few studies have been carried out in this field, with contradictory results and using an aggregate data while, according to different authors, an aggregate data might provide spurious results. The author used Ordinary Least Squares Regressions (OLS) and Granger Causality tests to explore the strength and direction of the relationship between insurance and economic growth at an aggregate level. To check the relationship at disaggregate level life insurance, marine insurance, and property insurance are regressed on trade openness and investment, respectively. Non-life insurance at an aggregate level plays a positive and significant role in promoting economic growth, but life insurance has an insignificant impact on the Pakistan economy. On the other hand, non-life insurances at a disaggregated level such as marine insurance negatively affect a vital part of economic growth, i.e., trade. At the same time, property insurance has a significant and positive role in boosting investment. Life, marine, and property insurance Granger cause economic growth, trade, and investment in a single direction. Nevertheless, is a bi-directional relationship between economic growth and non-life insurance.

This study aims to investigate the direct relationship between ownership structure, earnings manipulation, and organizational performance, and then examine the mediating effect of earnings manipulation in the relationship between ownership structure and organizational performance. This study collected and analyzed secondary data published in financial reports related to all insurance organizations listed in the Jordanian market during the study period (from 2009 until 2018). A panel data analysis was conducted, giving a total of 200 observations. The findings of this study concluded that ownership concentration, foreign ownership, and organization size affect organizational performance proxied by ROA, ROE, and EPS, more specifically, ownership concentration and organization size have a positive effect, whereas foreign ownership has a negative effect. At the same time, board of director ownership, organizational ownership, and CEO compensation did not affect organizational performance. Next, the board of director ownership, ownership concentration, foreign ownership, and CEO compensation affect earnings manipulation separately. In addition, earnings manipulation positively affects organizational performance proxied by ROA, ROE and EPS. This means that the higher the earnings manipulation is, the higher the organizational performance is. Finally, earnings manipulation mediates the relationship between ownership concentration and foreign ownership of ownership structure, and organizational performance.

The study investigates a promising sustainable crop-insurance risk mitigation plan, namely, Group Risk Income Protection (GRIP) insurance, for the cultivation of Para rubber, a crop for which Southern Thailand constitutes over half of the national harvested area, but which recently experienced a shift in prices and yields, substantially affecting farmers. The research takes as its starting point historical data covering the 2001-2018 period for this crop’s cultivation in three of Thailand’s Andaman South Coast provinces – Trang, Krabi, and Phangnga. The results indicate that, from a relatively high base in 2001, Trang’s yields dropped sharply before a more gradual decline (apparently still ongoing), whereas those for Krabi and Phangnga followed a smoother downward trajectory throughout the period. Meanwhile, prices everywhere rose steadily before falling from 2011 onwards – a decrease that shows no signs of abating. The yield/price relationship was negative for one province and slightly positive for the other provinces. Furthermore, all provinces’ Para rubber income initially grew continually but fell after 2011, with this trend seemingly persisting to this day. The paper’s findings suggest that, after early moves to entrench GRIP insurance, it looks set to become a feasible option for Para rubber, making policy agreement details an interesting subject for subsequent investigations.

This paper applies the Data Envelopment Analysis (DEA) to compute the managerial efficiency of 30 insurance companies listed on the Saudi stock exchange for the duration of four years from 2015 to 2018. The companies taken as a sample of study included both conventional and Takaful insurance companies. The insurance sector of KSA is one of the largest sectors in the country, contributing a substantial percentage in the non-oil economy. Efficiency measurement and evaluation will provide a venue to introspect and benchmark frontiers to the sector. In the present study, we have utilized the basic Banker Charnes Cooper and Charnes Copper Rhodes models of DEA. Two inputs, namely, general & administrative expenses and policy & acquisition costs, and two outputs (Net premium earned and Investment Income & other incomes) were taken for efficiency calculations. The final outcomes of the study reveal that a good number of insurance companies operating in KSA are found to be efficient on managerial efficiency scale. Three firms remain the leader on the frontier of the managerial efficiency. And no company found with zero (0) efficiency or a negative efficiency. It is expected that the outcome of the study will provide benchmarks to managers and a road map to further improvement.

The purpose of this study is to investigate empirical evidences of productivity of life insurance institutions in Malaysia. Therefore, this study attempts to explore the productivity of the life insurance institutions in Malaysia. The overall findings show that the total factor productivity (TFP) has progressed by 2.5% per year during the study period from 2012 to 2016 in the Malaysian insurance industry. However, TFP change has declined from 2012 to 2015 and observed a negative growth in 2015-16 (3.3%). The highest productivity progress was documented during 2012-13 at a rate of 11.7% while the minimum productivity progress was during 2014-15 (only 0.2%). The results also indicate that the decomposition of TFP found that overall progress could mainly be attributed to technological change (TC). However, technical efficiency change (TEC) and pure technical efficiency change (PTE) have negative impact on TFP. The findings also show that most of the insurance companies have a steady growth. Therefore, this study will contribute new insights for the policy makers and insurance institutions to take appropriate steps in developing relevant policies for increasing productivity of insurance institutions in Malaysia

The purpose of this paper is to examine how the social system of deposit insurance affected the financial market in Korea. Specifically, we want to know how much the risk-seeking behavior of financial institutions has increased or decreased. The most important feature of the deposit insurance system is to prevent the insolvency of financial institutions and to properly protect depositors. In recent studies, it has been argued that characteristics of deposit insurance bring moral hazard of financial institutions and that financial institutions make unreasonably risky investments. Therefore, in this study, we will first examine whether such previous research can be applied to the Korean financial market. Next, we will examine the appropriateness of the differential premium rate that is currently used for each financial institution in the Korean financial market. In order to test the first hypothesis, we used the Capital Asset Pricing Model (CAPM) to calculate the total risk for each financial institution. As a result, significant changes were found in all regions before and after the introduction of the deposit insurance system. As for testing the second hypothesis, we conducted a variance analysis of financial institutions' indexes before and after the introduction of the deposit insurance and we discovered significance of the total risk difference.

본 연구는 MRI 건강보험 급여기준 적용 연혁과 건강보험 청구 자료를 바탕으로 MRI 진료 현황(검사 수, 진료금액)을 분석하여 추후 MRI 급여기준 확대 시 참고할 수 있는 기초자료를 제공하기 위해 시행되었다. MRI 검사가 급여로 적용되기 시작한 것은 2005년으로 초기에는 일부 질환에 대해서만 적응증이 제한되었으나, 2010년, 2013년, 2016년, 2018년 급여 대상이 확대되었으며, 보건복지부는 2021년에는 모든 MRI 검사에 대해 건강보험을 적용키로 하였다. 2010년부터 2017년까지 MRI 검사수와 진료금액 변화는 검사수는 2010년 대비 2017년도에 86.7% 증가하였고, 진료금액은 53.5% 증가하였다. 일반적 특성에 따른 MRI 진료 현황은 여성이 남성보다 검사수가 많았고, 연령별로는 70-79세 연령대가 검사수가 가장 많았다. 진료 형태는 외래 검사가 입원검사 보다 많았으며, 의료기관 형태에 따라서는 상급종합병원의 검사수가 가장 많았다. 검사 부위별로는 뇌 MRI 검사수가 가장 높은 비율을 차지하였다. 2013년 12월 심장질환과 크론병에 급여 확대에 따른 진료 현황 변화를 분석한 결과 심장 MRI와 복부 MRI 검사수가 2013년 대비 2014년에 증가 하였다. 하지만 전체 대비 검사수가 차지하는 비율이 낮고 질병명과 연계하지 못한 제한점으로 전체 MRI 검사수 증가에 영향을 주었다고 보기는 어려울 것이다. 우리나라는 건강보험 보장성 강화를 위하여 MRI 급여기준을 지속적으로 확대하고 있다. 건강보험 지속 가능성과 정책 효과 평가를 위해 추후 지속적인 모니터링이 필요할 것이다.

In 21 st Century business world, services are carried out in multifaceted, competitive and rationality manner that are characterized by evolving many factors, which are often unpredictable. On-the-go banking is a product in financial sector. However, it faces serious pitfalls being it riskiness. Bank customers compete for time-saving options. On contrary, PCBs compete for marginalizing its operating costs for enhancing its revenues. On strategic tactics, PCBs targets city customers in multi-facets including offering incentives for enhanced usages of on-the-go banking. Influencing customer’s intention, attitude and behavior in banking, PCBs also offers incentive under market system along with often informational asymmetry. However, it causes exploitation. In most cases customers don’t read terms & conditions of services. They don’t save contract-copy. These weaknesses cause abuses. Customer faces hidden charges, extra fees, account hacked. Addressing the issue, Voluntary Insurance Option is proposed where PCBs will introduce it as a product of bank-services. Transferring risk away from customer will benefit both PCBs and bank-customers. This product can attract new customers who were on the brink using digital banking but just felt it was too risky. This model can facilitate the parties involved for increasing usage of on-the-go banking-services while customers can maintain optimal utility of usages.

Purpose - The total amount of advanced Corporate Pension Insurance products exceed 148 trillion Korean Won at the end of 2016. For a firm with over 300 employees, when a bill on compulsion of introduction of Corporate Pension Insurance products, currently pending in court, is passed, Corporate Pension shall be an essential. The findings of the paper will provide a guideline for understanding on firm's attributes and its effects towards introduction of Corporate Pension Insurance products. Research design, data, and methodology – The data were collected using statistics of employer panel survey from Korea Labour Institute in 2013. The study analyses a sample survey on 1,775 outstanding enterprises and their HR department among whole corporations in Korea. For analysis of data, empirical testing by Logistic Regression was utilized. Results – As an outcome of empirical testing, variables on share of regular employees and the aged employees in over 50's generates a significant statistical meaning. It eventually gives a great impact on purchase of Corporate Pension scheme. Moreover, variables on corporate financial statement, current sales, current net income, total amount of the debts, labor cost per person also has a vital influence on introduction of Corporate Pension Insurance products. Lastly, variables on firm's labor relationship have no effect except for the execution or non-execution of HR consulting. Meanwhile, Variables affecting a choice on pension schemes types among firm's attributes are a share of regular employees, current net income, execution or non-execution of HR consulting etc. These variables represents a statistical implication. According to their each features, they prefer DB or DC plan. Conclusions – Introduction of corporate pension scheme is apposite to contemporary Korea's situation entering a hyper-aging society and firms with a high share of regular employees, the weight of aging, current sales, current net income and labor cost per person are exceedingly active in purchasing Corporate Pension Insurance products. However, after the introduction of corporate pension scheme, firms which has an implementation of consultation on human resource management, flexible benefits plan, job security and welfare system prefer DC plan whereas from financial perspective firms with high net income prefer DB plan.

Purpose - In order to achieve the organizational objectives, the behavior of the employees and their collaboration with management should be taken into account. It has been shown that strategic behavior depends on a number of different factors. The aim of this article was determining the relationship between factors related to the strategic behavior. Research design, data, and methodology - Accordingly, a conceptual model was developed and tested in the form of a survey. Participants of the study were the employees working in the social Insurance company of Tehran. Data was collected using a questionnaire conducted among managers and the staff. A correlation model was used for data analysis by employing the SPSS software. Results - The findings showed there was a relationship between employees’ engagement and the strategic behavior. Conclusions - Our research has demonstrated the effect of employees’ engagement on the strategic-driven behavior, emphasizing the role of employees’ engagement in health-care service firms. Although previous service research has focused on the factors that drive employees’ performance, it seems that most of this research has been inspired by the idea of the service profit chain, focusing on the effect of employees’ satisfaction on performance.

Crop yield insurance program in Korea has rapidly grown not only in quantity but in quality for 15 years since it was introduced in 2001. Despite growth of Crop insurance, performance evaluation for crop yield insurance has not fully been evaluated at the farm, consumer and national level. The purpose of this study is to conduct the performance evaluation for crop yield insurance through estimating the effects of farm revenue stabilization and social welfare increase with three popular insurance items: apple, pear and sweet persimmon. Based on the analysis of social welfare effect, cost-benefit analysis of operating crop yield insurance was conducted at the national level. We found that crop yield insurance stabilizes farm revenue based on the estimated four risk indicators: Coefficient of Variation, Value at Risk, Certainty Equivalence, and Risk Premium. The result of cost-benefit analysis shows that crop yield insurance increases social net benefit by 44.1 billion won for the three items. As a result, crop yield insurance program has contributed remarkably on social welfare as well as farm management and its role will be more important in the future.

This study aims to investigate the present status and factors influencing farmers’ satisfaction on the crop insurance for pear. Data analyzed were collected by survey and ordered logistic model was utilized for an empirical analysis. The results demonstrate that producers who are more highly educated and have an experience to receive an educational program related to crop insurance for pear are more likely to satisfy. In addition, it is shown that sales have a negative effect on the satisfaction whereas cultivated areas have a positive relationship with it. Based on the findings, it is necessary to develop a new educational program, strengthen public relations, and support an insurance premium for improving farmers’ satisfaction of the insurance for pear.

Purpose - In order to achieve the organizational objectives, the behavior of the employees and their collaboration with management should be taken into account. It has been shown that strategic behavior depends on a number of different factors. The aim of this article was determining the relationship between factors related to the strategic behavior. Research design, data, and methodology - Accordingly, a conceptual model was developed and tested in the form of a survey. Participants of the study were the employees working in the social Insurance company of Tehran. Data was collected using a questionnaire conducted among managers and the staff. A correlation model was used for data analysis by employing the SPSS software. Results - The findings showed there was a relationship between employees’ engagement and the strategic behavior. Conclusions - Our research has demonstrated the effect of employees’ engagement on the strategic-driven behavior, emphasizing the role of employees’ engagement in health-care service firms. Although previous service research has focused on the factors that drive employees’ performance, it seems that most of this research has been inspired by the idea of the service profit chain, focusing on the effect of employees’ satisfaction on performance.

This thesis has analyzed the determination factor for the crop insurance of rice focused on paddy rice. The analysis on each farmer has been used with integrated probit model & random effects probit model. It has shown in the analysis result of determination factor for buying the crop insurance of paddy rice farmer through integrated probit model & random effects probit model that the higher age, degree of education, cultivated area, and amount of received insurance money and the lower in a number of family member have revealed the higher possibility to buy the crop insurance in the integrated probit model. While the random effects probit model has shown a higher possibility to buy the crop insurance as the higher age, cultivated area, and amount of received insurance money.

국내의 경우 각 지자체 기관에서 위험지도가 제작되고 관리되고 있으나 풍수해보험 적용에 활용될 위험지도와 보험관리지도는 제작과 관리가 이루어지고 있지 않는 실정이다. 이에 본 연구에서는 국외처럼 보험관리지도 및 풍수해위험지도(수해·풍해·설해)를 표출하고 관리할 수 있는 통합관리시스템 개발을 위한 연구를 수행하였다. 요구사항 분석을 통하여 보험관리지도와 풍수해 위험지도의 표출과 관리를 위한 시스템의 주요 검토사항을 도출하고, 주요 검토사항을 토대로 시스템의 세부적 기능과 시각적 효과 등에 대한 개발 방향을 수립하였다. 시스템은 관심지역의 목적물 보험요율 등의 신속한 조회와 이용자의 손쉬운 접근을 고려하여 Web기반의 Viewer 기능 중심의 시스템이 될 것으로 계획하고 있다. 주요기능으로는 재해별(수해·풍해·설해) 위험지도 및 보험관리지도의 표출, 보험관리지도와 연계한 목적물 정보(가격정보 등) 조회, 재해별 위험지도·보험관리지도 관련 DB 등의 체계적 통합관리, 다양한 지역 검색(주소검색, 도시명검색, 마우스검색 등)을 바탕으로 관리자, 지자체·보험회사, 주민 이렇게 3개의 이용자 분류를 통하여 이용자 맞춤형 정보를 제공하도록 계획하고 있다. 본 시스템은 전국단위의 재해별 위험지도와 보험관리지도의 통합관리 및 정보 제공을 통하여 각 지자체별 위험지역의 방재정책 수립 활용 및 풍수해보험 가입을 희망하는 잠재적 가입자에게 합리적인 보험료 정보를 제공함으로서 풍수해보험 가입의 증대에 기여할 것으로 기대한다.

최근 기상이변에 의한 자연재해의 발생빈도가 증가하고 있으며 피해규모 또한 대형화·광역화되고 있다. 최근 10년간 자연재해 원인별 피해규모는 태풍(57.1%), 호우(31.3%), 대설(11.5%)이 차지하고 있어 이에 대한 대책이 시급하다. 우리나라는 자연재해에 의한 피해에 대응하기 위해 풍수해보험을 시행하고 있다. 풍수해보험은 소방방재청이 주관하며 민간보험사가 운영하는 정책보험으로 보험계약자가 부담해야 하는 보험료의 일부를 국가 및 지방자치단체에서 보조함으로써 국민이 저렴한 보험료로 예기치 못한 풍수해에 대해 능동적으로 대처할 수 있도록 하는 선진국형 재난관리제도이다. 풍수해보험의 대상 재해는 자연재해대책법 제2조 제3항에서 정의한 태풍, 홍수, 호우, 강풍, 풍랑, 해일, 대설이며, 크게 홍수, 강풍, 대설로 분류할 수 있다. 홍수에는 태풍, 호우, 홍수, 해일이 포함되고, 강풍에는 태풍, 강풍, 풍랑이 포함되며, 이렇게 분류된 홍수, 강풍, 대설은 각각 위험도분석을 통해 풍수해보험관리지도에 반영된다. 본 연구에서는 이러한 풍수해보험관리지도의 보험요율 산정시 필요한 목적물별 피해율을 어떻게 분석하고, 이를 위한 보험목적물 DB 구축과 GIS 분석하는 방법에 대하여 연구하였다. 본 연구에서 구축한 풍수해 보험의 보험목적물은 단독주택, 공동주택, 온실을 대상으로 하였으며 우리나라 전역의 광범위한 데이터를 어떻게 구축하고, 이 데이터를 실제 시스템으로 어떻게 운영할 것인지에 대하여 제시하였다.

This study provides the empirical results of the customers' necessity and intentions of purchasing weather index insurance using survey of asking the customers' recognition about weather insurance. In this article, we discovered that not only the customers' past experience of loss but also the extent of damage and the effects that change in weather would have on their firm are positively related to an intention to purchase weather index insurance. In addition, the level of premiums was significantly higher for the highly-intended group of willing to purchase weather index insurance than the comparison group.

풍수해보험은 재난지원금 제도를 대체하는 선진국형 재난관리제도로 자리를 잡아가고 있다. 일반적으로 보험요율수준은 위험도에 따라 합리적으로 차등·적용되어야 하나 현행 풍수해보험은 230개 시·군·구 각각을 하나의 위험등급으로 분류하여 위험의 크기와 상관없이 동일한 보험요율수준을 적용함으로써 위험의 크기에 따라 보험요율수준을 차등·적용해야 한다는 공평성의 원칙에 위배되고 있는 실정이다. 따라서, 본 연구에서는 미국과 유럽 등 각국의 홍수보험과 관련된 위험분류체계를 조사·연구하고, 풍수해보험관리지도의 작성 및 운영에 대한 방안을 강구하여, 이를 바탕으로 위험의 크기에 따라 보험요율을 차등·적용할 수 있는 풍수해보험 등급요율체계 개선방안을 제안하고자 한다.

지속되어지는 도시지역 인구 집중현상과 그에 따른 난개발로 인하여 도시지역의 불투수면적층이 증가와 국지성 집중호우로 인한 침수 피해를 예방하고자 도시지역의 하천정비, 빗물펌프장 신·증설, 하수관거 개량 등의 대책이 이루어지고 있다. 하지만 여전히 얘기치 못한 침수 피해는 지속적으로 발생되고 있으며, 이러한 피해에 대한 실질적 복구를 위하여 소방방재청에서는 풍수해보험을 시행 중에 있다. 풍수해보험도 일반 보험과 마찬가지로 보험요율을 책정하고 있으며, 현재는 과거의 피해이력만을 근거로 책정되어 시·군·구 단위로 같은 요율이 적용되고 있어 시·군·구간의 과도한 편차를 보이고 있다. 이러한 부분을 개선하기 위해서는 등급별 수해위험도 분석을 통하여 개별 보험요율 산정을 위한 보험지도의 제작 및 활용이 필요하다. 이에 본 연구에서는 보험지도 제작을 위하여 도시지역의 기존 방재시설물의 성능평가를 통해 설정한 방재성능목표 강우량을 적용하여 내수침수 위험도 분석 방안을 제시하고자 한다. 본 연구에서 제시된 내수침수 위험도 분석 방법은 정확성과 시급성, 경제성을 종합적으로 고려할 때 국가단위의 지도 제작에 합리적인 분석방법으로 판단된다.