IRANIAN JOURNAL OF INSURANCE RESEARCH (SANAAT-E-BIMEH)
Year:2017 | Volume:32 | Issue:3 (127) |Papers Count:6

One of the most significant changes that has recently occurred in the area of financial services is the emergence and development of “ bancassurance” . The aim of this article is, first of all, to review the concepts of the emergence and development of “ bancassurance” as used worldwide and in Iran, and then to identify and prioritize motivations and some barriers to its formation. The research method was descriptive and applied in terms of purpose and results, respectively. The Delphi method was used the qualitative section, and the hierarchical analysis process, which is one of the Multi-Criteria Decision-Making (MCDM) methods, was used in the quantitative section of the research. In this research, firstly, using preliminary studies and library resources, and then using the Delphi questionnaire and interviewing with university lecturers and experts in the banking and insurance, the final model of research was determined and the results of the relevant prioritization were extracted. Finally, nine motivational criteria were identified and ranked, among which an increase in profitability and the internationalization of the activities received the highest and lowest priorities, respectively. This study also introduced some barriers to the formation of “ bancassurance” .

Life insurance is one of the most important insurance fields that plays an effective role in financial development, and consequently in economic growth. A review of the history of this insurance field indicates that life insurance has been one of the earliest insurance coverages used in Iran, but its progress has been so slow that it has not been able to keep up with other types of insurance coverage in Iran. Therefore, according to the importance of this issue, the purpose of this study was to investigate the effective factors on developing life insurance industry in Iran and in the development countries during the period of 1985-2014. The results of estimation of coefficients revealed that, among the variables under consideration for developed countries, level of education, urbanization rate, interest rate, and inflation, respectively, had the highest effect on dependent variable (insurance penetration), and for Iran, life expectancy, real GDP, level of education, urbanization rate, interest rate and inflation, respectively, had the highest effect on dependent variable.

Insurance companies usually use the chain-ladder method in their fi nancial statements to predict loss reserves. The chain-ladder method is based on aggregated data and development years of claims in run-off triangles. This triangle is a summary of an underlying data-set related to the development of individual claims. This paper used the framework of Position Dependent Marked Poisson Processes and statistical tools for recurrent events in individual claims for a method of reserve as a micro-level stochastic loss reserve. Detailed information concerning damage occurrence time s, loss reporting delay times, intervals between payments, the values of their payments, and the final settlement times of claims are used to calculate the micro-level reserves. To validate the new model, the data-set from an Iranian insurance company is considered. Using this data-set and the simulation of micro-level stochastic loss reserving model, it was shown that the use of micro-level stochastic loss reserving model is a close estimate to the real value of the required loss reserve in the future years.

This study aimed to assess the effect of organisational intelligence on organisational learning regarding the moderating role of employees' personal development in Parsian Insurance Company in Iran. Based on data collection, the research method is selected as descriptive / survey method. The research population consisted of 260 employees of Parsian insurance company. Using Cochran formula, a sample of 152 people were selected by the simple random sampling method. For data collection, Albrecht's organisational intelligence questionnaire (2003), Nife's organisational learning questionnaire (2001), and George and Singh's employee' self-development questionnaire (2009) were used. The results of data analysis by the simple linear regression test and structural equation modeling method using SPSS and AMOS softwares show that the organisational intelligence and its components (Strategic Vision, Shared Fate, Appetite for Change, Heart, Alignment and Congruence, Knowledge Deployment, Performance Pressure) influenced organisational learning in view of the moderating role of employees' self-development.

The most important challenge that solvency assessment system of insurance companies faces is understanding the concept of riskand then measuring and quantifying it. One of the most important risks of insurance companies is market risk stemming from investments. The main purpose of this paper is to correct the defects of the method of calculation of the solvency of insurance companies to consider more accurately the financial time series features for estimating the value of risk exposed investment portfolios (stocks of exchange companies, currency accounts, and real estate). First, the marginal distributions of log-returns of time series were modeled using GARCH models. Then, using the Genetic Algorithm (GA) in order to achieve the best threshold in Extreme Value Theory (EVT), distribution sequences were modeled and using copulas to model dependency structuresbetween marginal distributions. Finally, back-testing methods show that the proposed model had a better performance than the traditional simulation model. Also, the results of the student’ s t copula function were more acceptable, and market risk factor was estimated as 9. 403%.

“ The 2016 Law of obligatory insurance of damages to the third person arising from accidents caused by vehicles” has taken apart the conditions of responsibility of responsible persons from the insurance law by the omission of the phrase “ civil responsibility of the holder” from legislation title and also the duty of insurance companies in funding payments to damaged persons even in the case of being caused by driving accidents due to force majeure. The afore-mentioned law stipulates numerous innovations on strengthening the insurance deterrence in issues such as damage recovery, support of insured especially by the exclusion of the appendix, support of insured especially by the lack of obligation for the delivery of insurance services. Although lawmakers legislate different regulations in support of the deterrence aspect, but as driving accidents require special regulations, conditions and rules related to civil liability of individuals involved in traffic accidents also requires special regulations. This new law may cause inefficiency of insurance regulations by the omission of the responsibility of holder and the referral of conditions of responsibility to public rules.