IRANIAN JOURNAL OF INSURANCE RESEARCH (SANAAT-E-BIMEH)
Year:2016 | Volume:31 | Issue:2 (122)|Papers Count:12

Several studies have been done on the relationship between life insurance and economic growth, based on conventional economic approaches and in the framework of macro-economic growth patterns, but less attention has been paid to aspects of its development. The present study attempts to clarify the development effects of life insurance from the social capital viewpoint. For this purpose, causal relationships between life insurance per capita and social capital have been investigated for two selected groups of developed and developing countries using evolutionary and nonlinear algorithm GMDH in the framework of neural network. The results of this research show that there is a nonlinear two-way causality between social capital and life insurance per capita in developed countries whereas there is a one- way causality through life insurance per capita on social capital in developing countries. Therefore, life insurance per capita has stronger impact on social capital for both groups of selected countries.

Insurance market companies can be more successful in the competition when they consider in addition to internal abilities, competitors' interactions and strategies in determining the appropriate strategy for increasing insurance share in all of economic activities. An efficient approach is game theory in competitors' interactions analysis and decision making based on its. In this research, we model insurance industry market with the aim of increasing market share using the game theory. For this purpose, competition among three private insurance companies is investigated with the goal of maximizing three criteria: portfolio, profit and revenue (sum of revenues identified and collected in list of investments revenues in financial statements of insurance company) and modeled by game theory. The obtained results of game theory indicate the Pareto solution. In this competition, with both an emphasis on utility lost at any company and with an emphasis on total utilities lost at all companies, has reached to a single unit. Insurance companies can use proposed approach to determine the best strategy for successful presence in the market and to increase their market share in the competition with rivals.

Ruin probability for insurance companies is a key factor which should be taken into consideration. In this paper, using Tijms approximation method we estimate the ultimate ruin probability of third party insurance portfolio of an Iranian insurance company. For this purpose, first, using inflation adjusted loss data for the year 1386 to 1392, the surplus function of portfolio is modeled as a compound Poisson process. According to studies, Gamma distribution was the best fit among other distributions which were examined. Then adjustment coefficient as one of the input key parameter for Tijms method was determined by using Deker algorithm. Finally, ruin probability was estimated using Tijms ruin probability under several scenarios regarding initial surplus. Results proved that ultimate ruin probability for this portfolio is relatively high and company should take management policies in order to reduce it.

One of the most important methods for implementation and extension of health and treatment level is the use of complementary health insurance. Price satisfaction is an important aspect of customer's satisfaction of this service. On the other hand, one of the concepts used for investigating customer reaction to the price is customer's willingness to pay. In this study, Matzler's standard questionnaire is used for collecting data that related to price satisfaction and contingent valuation method in the form of payment card is used for extracting policyholder's willingness to pay. Statistical population consists of complementary health insurance policyholders of Iran insurance company in Tehran with 383 questionnaires. The average of willingness to pay to extension complementary health insurance is 46462.14 Toman (SD=19149.536) per person and per month. We used structural equation modeling and partial least squares method with Smart PLS software for analyzing of the data. Results indicate price satisfaction explains 84.4 percent of willingness to pay alternations and between dimension of price satisfaction quality price ratio affected the greatest impact and price reliability affected the lowest impact to willingness to pay.

the past Studies-show that the exclusive method to find Jurisprudential sentences of Insurance-Linked Securities is case study. The Catastrophe Bonds are most common type of Insurance-Linked Securities-in both of size and quantity and the maximum jurisprudential Studies were dedicated to Them. Regarding this significant and volume, Catastrophe Bonds have been chosen as a case of this study and have been tried to investigate a Jurisprudential sentences of this sort of Insurance-Linked Securities using a methodology based on Scenario Analysis and focusing on technical aspects. The results of study based on two scenarios show that The Catastrophe Bonds are permissible and justifiable according to both scenarios.

This paper proposes a theoretical framework for finding type of the selection theory in insurance market. This issue is one of the most important subjects relating to determination of appropriate premium and more development of insurance industry in the economy of the countries. For this purpose, first, the demand function of endowment assurance for given individual is extracted by utility maximization. Then, potential customers of insurance company are divided into low risk and high risk groups and the demand functions for these groups are drawn out by numerical simulation. Taking into account the entry and exit of people to market with help of threshold premium, led to this finding that the demand functions of endowment were kinked. Finally, the selection theory that dominates the endowment assurance market is determined by comparing the demand functions of different group of customers. The results show that the selection theory could be strong or weak adverse selection with respect to premium amount. Since the decrease of premium reduces the difference between the demand function of the two, that can be introduced as a tool to reduce power of adverse selection in endowment assurance market.