Insurance Amount Research Articles

Factors Determining the Risks of an Insurance Contract

The process of public production is interrupted or disrupted as a result of the destructive action of natural forces or as a result of various negative situations. The creation of such undesirable situations is a regular process and is connected with the contradictory nature of public production. The risk indicators should also be discussed. In order to overcome the existing negative situations, as well as to provide unconditional compensation for the caused damage, insurance certainly plays a crucial role. Insurance expresses what kind of economic relations act as economic categories. The essence of the insurance is that the damage will be distributed among many insurers, and their contribution will be relatively small for each of them. Moreover, Insurance is a set of economic relations between its participants, caused by the formation of a target insurance fund and its use in order to cover losses and pay insurance sums. Insurance risk lies in the basis of insurance. Keywords: Economic relationship, insurance amount, insurance payment, insurance rate.

Developing strategies to retain organizational insurers using a clustering technique: Evidence from the insurance industry

Formulating strategies to maintain policyholders is one of the main challenges for most insurance companies in Iran. The purpose of this article is to help marketing strategists of insurance companies predict insurees' churn and develop insurees retention strategies. Since the cost of maintaining an insurance policyholder is approximately one-eighth of the cost of attracting new ones, predicting their churn can help insurance companies adopt proper strategies in advance, which will definitely lead to saving marketing costs and maintaining the insurer's portfolio. Accordingly, the main question of this research is how to classify organizational insurees with the help of the clustering technique. This research is conducted in both qualitative and quantitative phases. In the qualitative phase, by conducting a semi-structured interview (interview protocol) with 15 experts in the insurance industry, the influential factors on policyholders' churn are identified. Then, based on the factors identified in the research literature and comparing them with the interview results, eight main factors are finalized. In the quantitative phase, in order to cluster the organizational insurees, 120 samples from the Iran Insurance Company are selected, and k-means is applied for clustering. Organizational insurees are divided into two groups according to the desired indicators. Using the results of clustering, insurees are divided into four groups, and effective marketing strategies are developed for each group. According to the results, the variable “health care insurance price” has the most effective role in separating the clusters at an error level of <0.01, and on the contrary, the variable “liability insurance amount” has the least important role at an error level of <0.978.

Utilization of health insurance by patients admitted for dental surgical procedures at a tertiary care hospital in Coastal Karnataka: a retrospective study.

Background: There are various medical insurance options available in India. However, unlike many other countries, dental insurance plans are rare. The aim of this study was to assess the utilization of various government and private health insurance schemes by patients admitted for dental surgical procedures at a tertiary care hospital in coastal Karnataka, India. Methods: A study was conducted retrospectively to gather data on the socio-demographics, bill details, insurance, and benefits claimed by patients admitted to the Department of Oral and Maxillofacial Surgery at a tertiary care hospital from May 2016 to September 2022. Results: Out of 1750 patients, only 856 (48.9%) patients had availed of insurance, 395 patients (22.6%) utilized government health insurance policies, and 461 patients (26.3%) availed of private health insurance plans. Among Government schemes, primarily Ayushman Bharat-Arogya Karnataka was used by 262 (30.6%) patients, followed by Employees' State Insurance Scheme by 110 (12.9%) patients. Among private schemes, 212 (24.8%) patients used the policies purchased by them, 19 (2.2%) patients' medical expenses were paid by their employers, 105 (12.3%) patients utilized Manipal Arogya Suraksha and 124 (14.5%) patients used Medicare provided by the hospital. Bivariate linear regression confirmed that the total bill amount, out-of-pocket expenditure by the patient, and insurance amount reimbursed to the hospital were significantly associated with the type of insurance (government vs. private). The study noticed a gradual rise in insured patients every year. Conclusion: Greater utilization of health insurance should be encouraged because the cost of dental treatment has always hindered the use of oral health services worldwide. This study highlights that the benefit available to the patients were mainly through general health insurance schemes, not specifically dental health insurance. Insurance schemes covering dental must be promoted more aggressively in the media, highlighting their available benefits, merits, and demerits.

Utilization of health insurance by patients admitted for dental surgical procedures at a tertiary care hospital in Coastal Karnataka: a retrospective study

Background: There are various medical insurance options available in India. However, unlike many other countries, dental insurance plans are rare. The aim of this study was to assess the utilization of various government and private health insurance schemes by patients admitted for dental surgical procedures at a tertiary care hospital in coastal Karnataka, India. Methods: A study was conducted retrospectively to gather data on the socio-demographics, bill details, insurance, and benefits claimed by patients admitted to the Department of Oral and Maxillofacial Surgery at a tertiary care hospital from May 2016 to September 2022. Results: Out of 1750 patients, only 856 (48.9%) patients have availed of insurance, 395 patients (22.6%) utilized government health insurance policies, and 461 patients (26.3%) availed of private health insurance plans. Among Government schemes, primarily Ayushman Bharat-Arogya Karnataka was used by 262 (30.6%) patients, followed by Employees' State Insurance Scheme by 110 (12.9%) patients. Among private schemes, 212 (24.8%) patients used the policies purchased by them, 19 (2.2%) patients’ medical expenses were paid by their employers, 105 (12.3%) patients utilized Manipal Arogya Suraksha and 124 (14.5%) patients used Medicare provided by the hospital. Bivariate linear regression confirmed that the total bill amount, out-of-pocket expenditure by the patient, and insurance amount reimbursed to the hospital were significantly associated with the type of insurance (government vs. private). The study noticed a gradual rise in insured patients every year. Conclusion: Greater utilization of health insurance should be encouraged because the cost of dental treatment has always hindered the use of oral health services worldwide. This study highlights that the benefit available to the patients were mainly through general health insurance schemes, not specifically dental health insurance. Insurance schemes covering dental must be promoted more aggressively in the media, highlighting their available benefits, merits, and demerits.

Socioeconomic Determinants of Demand for Life Insurance in Pakistan: A Time-Series Analysis

This study examines the determinants of life insurance demand in Pakistan using time series data from 1985 to 2023. The objective is to analyze the short- and long-term relationship between the demand for life insurance and socioeconomic factors. The study finds that the net premium insurance amount, real GDP per capita, and population are stationary at first difference, while the interest rate, savings, and inflation are stationary at the level. The ARDL (1, 3, 2, 3, 3, 3) model is selected based on the Akaike information criterion. The Bound F-test confirms the existence of a long-term relationship between the variables. In the short-run, the interest rate has an insignificant positive relationship with life insurance demand at first difference; however, it has a significant negative relationship at the first and second legs. Real GDP per capita has a significant positive relationship with life insurance demand, while population and savings are significantly and positively associated with life insurance demand. Inflation has a significant positive impact on life insurance demand. The error correction term is significantly negative, indicating the adjustment towards the long-run equilibrium. In the long-run, interest rate, population, and real GDP per capita positively and significantly affect life insurance demand, while savings and inflation have a negative and significant impact.

RETRACTED ARTICLE: Application of data mining based on swarm intelligence algorithm in financial support of livestock and poultry breeding insurance

Among the components of China’s actual economic structure, aquaculture has always been a key project, and as a part of agriculture, it has been greatly developed. However, there are still many problems in the actual breeding process, such as low financial support, low information transparency, high financing difficulty and lack of channels, high claims costs and serious moral hazard in the livestock and poultry breeding insurance field, which will affect the development and progress of the industry. Therefore, in this context, this paper improves the efficiency analysis of financial support for livestock and poultry breeding insurance by introducing data mining and swarm intelligence algorithms. Then use the analysis data to build a model to further evaluate the efficiency of financial support. The construction of the model is roughly divided into four parts: insurance density, insurance depth, insurance amount and income. The weight of different indicators is calculated through the analytic hierarchy process, and the overall ranking results are output through consistency test. Some data of the above models are used as the output indicators of DEA decision-making units for top-down ranking. The result analysis shows that the development of technology in this industry can effectively improve the actual productivity of agricultural crops, thus effectively promoting the development of local agriculture. In this paper, data mining and swarm intelligence algorithms are introduced into livestock and poultry breeding insurance to complete the analysis and evaluation of financial support.

Practical Applications of Optimal Claiming of Social Security Benefits

In <ext-link><bold><italic>Optimal Claiming of Social Security Benefits</italic></bold></ext-link>, from the Winter 2023 issue of <bold><italic>The Journal of Retirement</italic></bold>, authors <bold>Steven Diamond</bold> of <bold>Gridmatic</bold>, <bold>Stephen Boyd</bold> and <bold>Mykel Kochenderfer</bold> of <bold>Stanford University</bold>, <bold>Andrew Ang</bold> of <bold>BlackRock</bold> and <bold>David Greenberg</bold> show that when an individual’s wealth is above a certain threshold, they should defer claiming Social Security. Using a life-cycle framework, the authors compute wealth to primary insurance amount (PIA) ratios and provide thresholds to aid in this decision-making process (the PIA is the monthly benefit one would receive at full retirement age). The authors explain how an individual’s monthly Social Security benefit payment amount is based, in part, on the age at which they elect to begin their benefit payments. This decision of when to begin claiming benefits is both highly complex and important because it determines income for the rest of a claimant’s life. One can begin collecting benefits as early as age 62 and as late as age 70, and the longer one waits, the larger the monthly benefit payment will be.

Constraints and Suggestions of Beneficiary and Non-beneficiary of Farmers towards Pradhan Mantri Fasal Bima Yojana in Kolar District of Karnataka

India is one of the most climate-prone countries in the world. In the last decade, India has suffered crop losses almost every year either due to floods or drought or frost/extreme temperatures. Agriculture is the mainstay of the rural economy in India and is largely carried out by small and marginal farmers who have poor access to credit, high dependence on rainfall and majority of whom practice subsistence farming. Despite the efforts to revise the insurance scheme features under PMFBY, there are reported issues on enrollment, claim and settlement and even discontinuity. Hence it is essential to analyze the constraints and suggestions of beneficiaries and non-beneficiaries of PMFBY scheme. Hence, the study was conducted in Kolar district of Karnataka state during the year 2021-2022. All the five taluks of Kolar district were selected for the study. From each of the taluk 30 PMFBY beneficiaries and 10 non – beneficiaries were identified for the collection of data by using a simple random sampling method. Thus, the total sample was consisted of 150 beneficiaries and 50 non – beneficiaries. The results revealed that the constraints faced by the beneficiary with respect to availing benefits from PMFBY were, ‘delay in getting the claims under PMFBY’, ‘inadequate compensation under PMFBY’, ‘officials bias in loss assessment making’ and ‘insurance company do not give any reason about why eligible farmers did not receive insurance amount’ were accorded I, II and III ranks, respectively. When it comes to PMFBY non-beneficiaries, were not availing benefits of the scheme due to: ‘lack of documents in the name of the cultivar’ (I rank), ‘lack of awareness about the PMFBY’ (II rank) and ‘requires multiple visit to the department from enrollment to claim’ (III rank). Major suggestions expressed by the beneficiaries for improving PMFBY scheme are: ‘strict measures to timely payment of insurance amount’, ‘reduction on premium amount for horticulture crops’ and ‘claim disbursement before starting of the next season’ were accorded I, II and III ranks, respectively. In respect to suggestion’s expressed by non-beneficiaries for improving PMFBY scheme were: ‘creating awareness about PMFBY scheme’ (I rank), ‘creating facilitation on PMFBY scheme by giving training to the farmers’ (II rank) and ‘submission of appropriate documents to agriculture department’ (III rank).

10 important financial investments for orthopods in India

10 important financial investments for orthopods in India

Valuing Losses of Pension Benefits

Valuing Losses of Pension Benefits

사망보험금 주택연금 가입결정요인 연구

This study analyzed the decision-making factors for joining the Death Insurance-linked Housing Pension based on the survey. The analysis method used a binary logit model. The analysis results are as follows. First, about 57% of the respondents were willing to join. Second, groups with a relatively high ratio of intention to join were male, over 70 years old, unmarried, multi-person households, high school graduates or younger, and residents of Seoul. Groups with relatively low ratio of intention to join were women, under 70 years old, spouses, 1-person households, college graduates, residents outside of Seoul, groups with estimated living expenses and current monthly income of 9 million won or more, and death insurance amount of 300 million won or more The group was less than 450 million won, and the house price was 900 million won but less than 1.2 billion won. The implication is that it is necessary to positively review the introduction of the Death Insurance-linked Housing Pension suitable for the domestic situation so that retirement preparations are insufficient due to lack of income, or housing pension users with low monthly payments can manage their retirement life stably.

Optimal Claiming of Social Security Benefits

Using a life-cycle framework, we compute the optimal age to claim Social Security benefits. If the ratio of a worker’s wealth to their primary insurance amount (PIA)—the monthly benefit payable at their full retirement age—exceeds a certain threshold, they should defer Social Security for at least a year or claim immediately. The optimal threshold depends on mortality assumptions and individual preferences, but is less sensitive to capital market assumptions. The threshold wealth to PIA ratio increases from 5.5 for men and 5.2 for women at age 62, to 11.1 for men and 10.4 for women at age 69. For example, a man with a PIA of $2,000 should delay past age 69 unless his wealth is less than $22,200, illustrating that all except those with low levels of wealth should delay claiming. Those with wealth below these levels should claim, because maintaining their consumption requires immediate Social Security payments.

Acupuncture Treatment is Associated with Reduced Dementia Risk in Patients with Migraine: A Propensity-Score-Matched Cohort Study of Real-World Data.

BackgroundMigraine is a recurrent headache disease that has been identified as a risk factor for subsequent dementia. The present study collected data from Taiwan’s National Health Insurance Research Database (NHIRD) to investigate the incidence of dementia in patients with migraine who did or did not concurrently receive acupuncture treatment.MethodsA 1:1 propensity score method was used to match an equal number of patients (N = 4813) in the acupuncture and nonacupuncture cohorts based on sex, age, migraine diagnosis year, index year, insurance amount, urbanization level, baseline comorbidities, and medication usage. We employed Cox proportional hazards models to evaluate the risk of dementia.ResultsPatients with migraine who received acupuncture treatment were found to have a lower risk of dementia (adjusted hazard ratio [aHR] = 0.51, 95% CI = 0.40–0.65) than those who did not undergo acupuncture treatment. The cumulative incidence of dementia was significantly lower in the acupuncture cohort than in the nonacupuncture cohort (Log rank test, p < 0.001). This propensity score–matched cohort study demonstrated an association between acupuncture treatment and dementia development in patients with migraine in Taiwan.ConclusionThe results suggest that acupuncture treatment significantly reduced the development of dementia in patients with migraine.

Trends, correlates, and disease patterns of sedative-hypnotic use among elderly persons in Taiwan

ObjectiveThe population-based National Health Insurance database was adopted to investigate the prevalence, correlates, and disease patterns of sedative-hypnotic use in elderly persons in Taiwan.MethodsThe National Health Research Institutes provided a database of 1,000,000 random subjects in the National Health Insurance program. We adopted this sample of subjects who were older than 65 years from 1997 to 2005 and examined the proportions of psychiatric and nonpsychiatric disorders with regard to sedative-hypnotic use.ResultsThe 1-year prevalence of sedative-hypnotic use in elderly individuals increased from 1.7% in 1997 to 5.5% in 2005. The 1-year prevalence rates of benzodiazepine (BZD) and non-BZD hypnotics were 3.2 and 3.1%, respectively, in 2005. The overall hypnotic use was highest in ≥85-year-olds, males, those with lower amounts of insurance or higher Charlson Comorbidity Index scores and those living in eastern Taiwan. Both BZD and non-BZD hypnotic use were most commonly used in nonpsychiatric disorders instead of psychiatric disorders. Among the psychiatric disorders, the disorders that accounted for higher BZD and non-BZD hypnotic use were senile and presenile organic psychotic conditions (3.4 and 3.4%, respectively). Higher BZD and non-BZD use was for diseases of the respiratory system (30.4 and 17.8%, respectively), the circulatory system (20.4 and 22.4%, respectively), and neoplasms (12.6 and 13.8%, respectively).ConclusionThe prevalence rates of both BZD and non-BZD sedative-hypnotic use increased from 1997 to 2005 in the elderly. The risk factors for sedative-hypnotic use were aging, male sex, lower insurance amount, and higher Charlson Comorbidity Index scores. Most BZD and non-BZD sedative-hypnotic users were persons with nonpsychiatric disorders.

Research on the Individual Income Tax-Deferred Commercial Endowment Insurance from the Perspective of Fairness

In order to alleviate the pressure of the basic endowment insurance system, China has implemented the policy of individual income tax-deferred commercial endowment insurance (IITDCEI) and actively explored the development path of individual supplementary endowment insurance. At present, the same tax rules are adopted for different income groups. Considering that people's income gap is large, different income groups enjoy different degrees of tax preference under this policy, which may cause social injustice and increase the gap between the rich and the poor. Based on this, we propose a new optimization scheme by adjusting the tax rate and the maximum premium limit of the insurance amount so as to coordinate the interests of low-, medium-, and high-income subjects and balance the degree of tax preference among the three subjects. At the same time, we also change the two parameters of the predetermined interest rate and retirement age, and compare the changes of the tax preference under the old and new schemes, and provide corresponding countermeasures for the implementation of the IITDCEI policy.

معدل الفائدة الفني وتأثيره علي قسط التامين علي الحياة

ملخص البحث يعتبر معدل الفائدة الفني العنصر الثاني الذي يحسب علي أساسه قسط التأمين علي الحياة , وتنشأ الحاجه الي استخدام معدل الفائدة بسبب طول الفترة بين تاريخ سداد الاقساط وتاريخ استحقاق مبلغ التأمين , وفي هذا البحث تم تناول معدل الفائدة الفني من حيث تعريفة وأهميته في التامين علي الحياة وأثره في تحديد تکلفة عقود التامين علي الحياة سواء بالزيادة او النقصان من حيث تأثيره علي الأقساط الصافية لعقود التامين علي الحياة حسب نوع الوثيقة ومدتها , وطريقة سداد القسط وسن المؤمن علية عند التعاقد , وقد أوضحنا الطريقة التي يتم تحديد معدل الفائدة الفني في مصر وقيمتها وتبلغ 4.25% للوثائق الفردية وتقيمها وکانت قليلة جدا بالمقارنة مع معدلات العائد علي الاستثمار في السوق المصري من ناحية , ومع معدل الفائدة الفني في الأسواق العالمية للتامين مثل السوق الألماني والأمريکي والنمساوي وسوق التامين في المملکة المتحدة من ناحية أخري من حيث قيمة المعدل في هذه الأسواق والجهة المسؤولة عن تحديده والأساس التي تستند علية عند تحديد معدل الفائدة الفني وهو أن يساوي 60% من متوسط اخر 10 سنوات للسندات الحکومية في هذه الأسواق لما تتمتع به من ثبات و درجة مخاطرة أقل , ويجب أن يتم مراجعة المعدل علي فترات زمنية متقاربة . Abstract The technical interest rate is the second element on the basis of which the life insurance premium is calculated, and the need to use the technical interest rate arises due to the long period between the date of payment of premiums and the date of maturity of the insurance amount. In this research, the technical interest rate was studied in terms of its definition and importance in life insurance. And its impact in determining the cost of life insurance contracts, whether by increase or decrease in terms of its impact on the net premiums of life insurance contracts, according to the type and duration of the policy, the method of payment of the premium and the age of the insured when contracting , We have clarified the way in which the technical interest rate in Egypt is determined and its value is 4.25% for individual insurance policies and evaluated, and it was very few compared to the rates of return on investment in the Egyptian market on the one hand, and with the technical interest rate in the global insurance markets such as the German, American, Austrian and insurance market in the United Kingdom On the other hand , in terms of the value of the rate in these markets and the party responsible for determining it and the basis on which it is based when determining the technical interest rate, which is equal to 60% of the average of the last 10 years of government bonds in these markets due to its stability and a lower degree of risk , The technical rate should be reviewed at frequent intervals .

Seborrheic dermatitis and risk of incident peptic ulcer disease: A nationwide population-based cohort study.

Emerging evidence supports a strong association between the skin and the gut. The association between seborrheic dermatitis (SD) and peptic ulcer disease (PUD) was largely unknown. This study aimed to investigate the association of SD and PUD. This nationwide population-based cohort study was conducted using the Taiwan's National Health Insurance Research Database. A total of 19 445 participants was recruited. Each patient with a diagnosis of incident SD was matched to four patients without SD using propensity scores based on age, gender, index year, insurance amount, urbanisation level, Charlson comorbidity index (CCI), the presence of comorbidities and medication use. The primary endpoint was the development of incident PUD. Hazard ratios (HRs) and corresponding 95% confidence intervals (CIs) for PUD occurrence in relation to the presence of SD were calculated. Overall, patients with SD had a significantly higher risk for incident PUD than those without SD in both univariable (crude HR = 1.60, 95% CI 1.38-1.86, P < 0.001) and multivariable (adjusted HR = 1.58, 95% CI 1.36-1.83, P < 0.001) Cox proportional hazard regression models. Kaplan-Meier analysis indicated that the cumulative incidence of PUD was consistently higher in individuals with SD than those without SD (log-rank test, P < 0.001). A higher risk of PUD was also found in individuals with SD than those without SD in all stratified analyses by age, gender, CCI and follow-up time. Patients with SD may have a higher risk for incident PUD. Further studies are warranted to validate our findings.

선박충돌사고에 따른 어선보험 및 어선원보험의 구상에 관한 실무상 문제점

The fishing vessel insurance and fisher insurance are the government-backing Insurances under Act on Accident Compensation Insurance for Fishers and Fishing Vessels to protect fishing vessel owners and fishers who need extra protection. When a collision occurs, the fishing vessel owner is compensated by the fishing vessel insurance and the fisher by the fisher insurance, and the National Federation of Fisheries Cooperatives(“NFFC”) who is entrusted with the operation and management of both insurances makes recourse claim against the counterpart of the collision. In doing so, there arise multiple issues due to unique and different characteristics of fisher insurance and fishing vessel insurance from other insurances. In a recourse claim for the fishing vessel insurance, there are following issues: when the counterpart offsets the NFFC’s recourse claim with its own loss of earning damages, it contradicts with collision liability clause of fishing vessel insurance that does not cover the counterpart’s loss of earning; the proviso of Article 682 ① of the Commercial Act limits the NFFC’s subrogation right due to the assured’s remaining loss or damage which is not covered under fishing vessel insurance; loss of earning damages are excluded from compensation negotiation through the fisheries associations of both countries when there is a collision between Korean fishing vessel and Japanese or Chinese fishing vessel. In a recourse claim for the fisher insurance, there are following issues: standard wage for calculation of the fisher insurance amount differs from the wage for damage claim; statistical wage in damage claim is not sufficient in reflecting fisher’s actual wage; the difference between NFFC’s disability confirming procedure and disability appraisal by court appointed doctors; the priority order of bereaved family compensation under the fisher insurance differs from that of damage claim; ambiguity exists in the order of priority between the recourse claims of the NFFC and the National Health Insurance Service. Even with the abovementioned multiple issues regarding the fishing vessel insurance, the fisher insurance and recourse claim, there have been few discussions and few court precedents. Therefore, there needs to be thorough researches on the abovementioned issues and solutions.

Real earnings management and borrowing costs: The moderating effect of the directors’ and officers' liability insurance

Abstract The purpose of this paper is to investigate the effects of real earnings management on firm borrowing cost of public-listed in Taiwanese manufacturing industry during 2010 to 2017, and also examines the moderating effect of the directors’ and officers’ liability insurance (D&amp;O insurance) on real earnings management and borrowing costs. The empirical results show that borrowing cost is positively related to real earning management but negatively related to D&amp;O insurance purchase. Therefore, the firms with D&amp;O insurance than those without have lower borrowing costs, but the higher the D&amp;O insurance amount, the higher the borrowing costs. Furthermore, D&amp;O insurance has a moderating effect between the real earnings management and borrowing costs. Our findings suggest the relationship between D&amp;O insurance and real earning management, which through the D&amp;O insurance purchasing decision to impact on corporate borrowing costs. JEL classification numbers: G22, G32, M41. Keywords: Real earnings management, Directors’ and officers' liability insurance, Borrowing costs, Moderating effect.

EVALUATION OF INSURANCE PORTFOLIO

The article discusses the peculiarities of forming a balanced insurance portfolio and a system of indicators of the insurance organization's portfolio assessment. The main features of the balanced insurance portfolio and the essence of its main indicators are considered: the number of objects in the portfolio, the maximum insurance amount of own maintenance under the agreements in force for the period in question, the indicator of the uniformity of the portfolio and the equilibrium coefficient of the insurance portfolio, the estimated insurance portfolio, the expected return of the insurance portfolio and profitability by types of insurance transactions. It is noted that the optimization of the insurance portfolio is understood as reducing the level of risk and increasing the financial stability of the portfolio. The practical value of the research lies in the formation of an insurance portfolio assessment system.