IRANIAN JOURNAL OF INSURANCE RESEARCH (SANAAT-E-BIMEH)
Year:2012 | Volume:27 | Issue:2(106)|Papers Count:8

Oil, gas and petrochemical industries have significant contributions in Iran’s Gross Domestic Product. Foreign currency income from extracting and exporting crude oil and various uses in petrochemical industries as raw material play an important role in Iran’s economy. On the other hand, the operations of these industries include processes which are full of different risks and require huge investments. Therefore, insurance can play an important role as a risk management tool and the possibility of establishing a specialized insurance company for oil, gas and petrochemical industries appears a serious issue. By establishing such a company, the insurance industry will be acquainted with the existing risks in petroleum industry as the petroleum industry will be acquainted with technical and financial capacity of insurance industry. This research considers economic feasibility of establishing a specialized insurance company in oil, gas and petrochemicals by using statistical and economic engineering methods. Through statistical methods, data is collected, categorized and analyzed in accordance with codified assumptions. Through economic engineering methods, the feasibility of establishing a specialized insurance company in oil, gas and petrochemical industries is considered using different scenarios and usage of insurance data for the years 2001 to 2010. The results show that establishment of a specialized insurance company in oil, gas and petrochemical industries has an economic justification.

This paper investigates the effect of foreign currency exchange changes on Iranian macroeconomic variables and their indirect effects on insurance premium generation. Firstly, we calculate the effect of foreign currency exchange on macroeconomic variables based on professor Pesaran theoretical satellite model in a cointegrated VAR econometric model. Secondly, in order to measure direct and indirect effects of currency exchange on premium generation, an ARDL model was used. The results indicate a negative impact of foreign currency exchange on premium generation, i.e. any increase in foreign currency exchange will result in a fall in premium generation. The direct effect of country’s total production on premium generation is positive, i.e. a higher premium revenue. Finally, the increase of foreign currency exchange may leadto a decrease of premium generation and as a result an illogical increase of foreign currency exchange which will have a negative impact on Iranian economy in the long run.

SWOT analysis is an important analytical tool enabling managers to compare information on internal and external factors of an organization which can be used with respect to a matrix core strategy and offer a variety of possible strategies. This analysis with all its benefits for an organization does not provide a quantitative basis for identifying the most important internal and external factors and their relationships for a business. In other words, this analysis only deals with a few relationships between internal and external factors and ignores other factors that are not directly associated with each other. Generally preferential information of alternatives and criterion are represented, as judgments of decision makers are often uncertain and indefinite. Here in order to quantify the SWOT analysis under uncertainty, we combine Gray theory and DEMATEL, which is among the techniques of group decision-making. This method ranks the elements of SWOT matrix in the area of opportunities, threats, strengths, weaknesses and from the perspective of cause and effect that are identified. Our results reveal that the most significant components of SWOT matrix which are useful in defining appropriate strategies for A Praivate Insurance Company.

Methods for insuring buildings by insurance companies or retrofitting of buildings as a basic policy that has been followed by Iranian government with regards to known risks in the country are not appropriate from a technical point of view. Developing methods for new insurance policies can help insurance companies to evaluate natural hazards such as earthquake more efficiently and accurately. Lack of analytical models and methods that consider domestic and regional factors into account are problems in the calculation of earthquake insurance rates for buildings in Iran. In this paper, we first discuss the role of earthquake insurance in construction of buildings in Iran. Then a method is developed to estimate damages, economic losses and earthquake insurance rates for engineering steel and reinforced concrete buildings using structural analyses.

This paper identifies factors which help obtain a competitive advantage in insurance companies. In addition, in order to determine factor priority for insurance companies, their ranking will be discussed. We use the model of Hill and Jones which focuses on internal factors. This model has four dimensions: efficiency, quality, innovation and responsiveness to customers. To recognize indices of each dimension, we survey the literature to determine 13 indices as the most effective factors according to the industry experts’ points of views. Then, We study the views of senior management of insurance companies, in order to a rank them using ANP method. According to senior executives in order to gain a competitive advantage, responsiveness to customers is the highest priority and quality, efficiency and innovation are next correspondingly.

Although most insurance companies invest In information technology through enhancing the level of e-readiness, there is limited ability in describing how and to what extent e-readiness impacts on e-insurance success. From a detailed literature review and experts’ opinion a conceptual framework of e-readiness is constructed and their relationships with e-insurance success are identified. Data were collected via a survey questionnaire from sixteen insurance companies in Iran. The study results suggest that, in the current situation organizational readiness has a positive and meaningful relationship with success in e-insurance. In addition, inter-organizational network readiness has an effect on the benefits of e-insurance. The general environment also has an effect on e-insurance  success through the mediating role of organizational and inter-organizational readiness. Finally, some recommendations for enhancing e- readiness and greater presence in this field are offered.

This paper examines the interrelationship between social capital (the structural, relational and cognitive dimensions) that managers and experts working in a central office of an insurance company in Iran have and the share of each of these dimensions in predicting the orientation towards organizational citizenship. Our sample consists of 247 managers and experts working in the central office of an insurance company in Tehran. Sampling conducted was according to simple random sampling and according to Cochran's formula against 93 people. Data were collected through social capital questionnaire of Faraji as well as Podsakff standardized questionnaires of organizational citizenship behavior. We used descriptive and inferential statistics such as Pearson correlation coefficient and step  y step regression techniques. Our results show that there is a significant positive relationship between social capital and orientation towards organizational citizenship. Also based on these results among the dimensions of social capital, the relational dimension was the best predictor of orientation towards organizational citizenship behavior followed by structural and cognitive dimensions.