IRANIAN JOURNAL OF INSURANCE RESEARCH (SANAAT-E-BIMEH)
Year:2011 | Volume:26 | Issue:1 (101)|Papers Count:8

This study develops a model of life insurance demand based on human capital, social and psychological factors. Data for this study was collected during 2010, by random sampling methods and questionnaires. Using the Heckman two-step selection model, our results show that the likelihood of purchasing life insurance among women is more than men. There is a negative and meaningful correlation between individuals’ heath status and their tendency to buy life insurance. However, some factors like guardianship and knowledge of life insurance may have a positive effect on individuals’ tendency to buy life insurance. Aging and having children less than 18 years old, decreases the demand for life insurance. Other factors like income, life expectancy and bequest, have a positive effect on the level of life insurance demand.

Organizations may identify and pursue policies that establish loyalty among their customers and to fulfill their needs. But they can go further and maintain a mutual and profitable long term relationship.In this paper, we review customers’ loyalty with regards to quality of services, satisfaction and their other behavioral characteristics. Data used in this paper are policyholders’ details using stratified random sampling. We used data on three categories of insurance which were property, personal and liability insurances. These data were analyzed by path analysis approach and using Smart-PLS software. Our proposed model fits the data strongly.

The risks covered by insurance policies should be evaluated continuously in order to determine an appropriate premium rates. In this paper we discuss two common methods in fire ratemaking, the loss ratio and pure premium methods. We assess methods of calculating components of a fundamental insurance equation and the principle of equivalence. We find that the pure premium method is more accurate in producing fire rates. We also provide a numerical example to show calculations of the average premium which should be charged by an insurance company in order to satisfy fundamental insurance equation and the principle of equivalence. We find that there are a lot of deficiencies in the data aggregation system for premium, losses, expenses and other loadings in pure premium determination in Iran. Finally, further suggestions are made for removing these deficiencies.

Motor third party liability insurance has the highest losses among various insurance lines, due to the high number of car accidents. Individuals’ habits are the main factors in dangerous behaviors while driving and it directly relates with the number of car accidents. The main object of this paper is to study third party liability insurance policyholders’ habits and the number of car accident, using Hofstede’s cultural model. This study is a descriptive –survey research and it covers third party liability insurance policyholders of an insurance company. Simple random sampling method is used for sampling. In addition, descriptive statistics, K-S tests and Mann-Whitney U test are used. Our results show a meaningful difference between low-risk and high-risk policyholders’ habits at a 95% confidence level.

Human relations are vital for life. Psychological bonds have an important role as a result. These bonds explain individual’s behavior and their organizational activities. Development of psychological bonds may lead to disputes and disagreements between parties and therefore, they have the potential of impacting negative relations. This is due to the potential for direct and indirect effects on some individuals through trust and commitment. We therefore find it necessary to study the above-mentioned bonds.As commitments are inevitable necessities of all organizations, organizational commitments have serious effects on organizational function and can be considered as an important predictor of organizational efficiency.Organizational commitment is therefore related to employee’s occupational behavior. Henceforth, it is necessary to study the effect of psychological bonds on these factors.

In this paper we study I.R.I Central Insurance organizational behavior and diagnose using Diamond excellence model. Our results show that primary attention areas are organizational structure, service quality, information management, service strategy and leadership respectively. Priority action areas are leadership, service quality, service strategy and organizational structure, respectively. We find there are 39 overlooked areas that are identified in I.R.I Central Insurance. The most important overlooked area is unadjusted work qualification. Therefore there exists employee's dissatisfaction of their aspirations, lack of interest in customers, absence of mutual communication among individual units, not creating long term relationship with customers.

The main issue in this paper is to study the effect of accounting standard 28 on Iranian insurance companies’ financial statements. The questions that are dealt with in this paper are about the effects of this standard on recognizing unpaid premiums, profit, tax and the risk of distributing unreal profits among shareholders. In order to find answers, we used independent auditors’ reports and financial statements of all Iranian insurance companies since 1387 fiscal year. First, by considering independent auditors reports, we became sure that these standards are applied by Iranian insurance companies. Then, by reviewing 1387 fiscal year’s statements (after implementing the standard) and calculating premium reserve, profit and tax by older approach (before implementing standard 28), the requirements were achieved using sufficient statistical approach and tests. Considering obtained results, we find that applying accounting standard 28 is affecting insurance companies’ financial standards.