Life Insurance Services Research Articles

Analisis Penerapan PSAK 24 Tentang Imbalan Kerja Pada PT Sinar Kencana Tech

This research aims to determine the application of PSAK 24 regarding employee benefits at PT Sinar Kencana Tech. This research method is a qualitative descriptive method, namely this research was carried out by conducting interviews, observation and documentation techniques with PT Sinar Kencana Tech employees who can provide additional information and data that may be needed in this research. So that it provides a clear enough picture to analyze and compare with existing theory according to PSAK 24 and its application at PT Sinar Kencana Tech. The data used is primary data in the form of direct interviews with the director of PT Sinar Kecana Tech. After conducting the analysis, the research results show that PT Sinar Kencana Tech has implemented measurement, recognition and disclosure in terms of salary provision, annual leave and paid sick leave, profit sharing and bonuses, post-employment benefits, defined contribution programs, and appropriate long service awards. with PSAK 24, but PT Sinar Kencana Tech has not implemented measurement, recognition and disclosure of non-monetary benefits, post-employment benefits (post-employment life insurance and postemployment service facilities), defined benefit programs, paid long-term absences such as long-term leave or leave sabbatical, permanent disability benefits and deferred remuneration.

The Digital Insurance Paradigm: A Theoretical Exploration

The advent of technology has significant impact on the economy as a whole. Technology is attributed to the transition such as from traditional mode to online mode. Financial services industries such as banking, insurance are also witnessed huge growth in their businesses. Several technologies such as artificial intelligence, cloud computing, internet of things, block chain technology etc are gaining momentum these days. Insurance companies are using electronic mode as a alternate channels for communication, sales and distribution. The study focuses on the acceptance of electronic channels for availing digitalized insurance services by policyholders. The main aim of the study is to develop conceptual model for explaining user’s behavior intention towards adoption of digital life insurance services. The study has used unified theory of acceptance and use of technology model while incorporating some external variables such as trust, self efficacy etc. Attitude has also been used as a mediator for explaining the relation between other constructs and behavior intention. Keywords: Online Insurance, Trust, Attitude, Technology, Financial Services, Unified Theory of Acceptance and Use of Technology.

Factors affecting customer satisfaction with life insurance service quality: A case study in Hanoi

Factors affecting customer satisfaction with life insurance service quality: A case study in Hanoi

THE IMPACT OF WAR ON THE INSURANCE MARKET OF UKRAINE: ANALYSIS OF OBSTACLES AND RESTRUCTURING OF THE FINANCIAL LANDSCAPE

The purpose is to carefully study and systematize the impact of the military conflict on the insurance market of Ukraine and provide practical recommendations for overcoming the challenges arising in this context. Method. The study is based on the use of statistical data to assess changes in the economy and the insurance sector during martial law, a detailed analysis of specific cases of insurance companies and regions that were affected by armed aggression. Theoretical and empirical methods, as well as economic and statistical methods of research, comparative analysis, strategic management, systematic approach and analysis were used in the process of research. The results. This study presents the influence of the state of war on the structure and dynamics of the insurance market in Ukraine, analyzes the opportunities of insurance companies, losses and risks associated with insurance in conditions of instability. A decrease in the number of registered insurance companies and companies providing life insurance services was determined, a decrease in the rates of gross insurance premiums and gross insurance payouts was recorded while maintaining positive dynamics, and it was noted that the majority of insurance premiums remain at the disposal of insurers. Restructuring and adaptation strategies for insurance companies are proposed in order to ensure their viability during the war and post-victory recovery period. Scientific novelty.This study can serve as a valuable contribution to the understanding of the relationship between the war situation and the insurance market, and also indicates possible ways for further development and reform of the insurance industry in accordance with the European integration of Ukraine. Practical significance. The dynamics of the main indicators of the insurance market in recent years are singled out, and the highlighting of obvious trends, which in the future can be used as a characteristic of this period of existence of the insurance industry.

Awareness and Availing of Insurance Products and Services Among Tribal Community of Aralam in Kannur District of Kerala

The aim of the study is to investigate the awareness and availing of insurance products and services among tribal community of Aralamin Kannur district of Kerala by focusing various type of insurance products and services. In recent years, importance and form of insurance has vast challenge in all sectors due to the unpredictable changes in the society and environmental conditions. All the societies adopted the insurance either due to compel from government or the awareness as well as the experience in the society but the socially and educationally weaker section lag behind it, especially tribal communities. A well-structured form of survey methodology is applied to investigate the awareness and availing of insurance products and services among the tribal community in the study area. The sample of 200 tribal households from Aralam panchayat of Kannur district (Kerala) was randomly selected. The study shows that most of the respondents (64.5%) had a basic level of knowledge health insurance services. Majority of the respondents of the tribal community are not aware of Personal accident insurance, Crop insurance, Livestock insurance, General insurance and Vehicle insurance. Around fifty percentage of the respondents are aware of life insurance services. Study discloses that there exist significant association between the awareness of life insurance and Vehicle insurance among various tribal communities. But there is no significant association between the awareness of health insurance, personal accident insurance, crop insurance, livestock insurance and general insurance among various tribal communities. It is seen that, 33.0 percentage of the respondents are availed any of the insurance services, and 67.00 percentage are not availed any of the insurance service..

Studying Customers' Satisfaction with Service Quality of Life Insurance in Vietnam

Purpose: Studying key factors affecting customer satisfaction based on the service quality of life insurance in Vietnam, and on that basis, the author proposed policy implications that contribute to improving customer satisfaction with the service quality of life insurance. Theoretical framework: Service quality is a factor that significantly affects customer satisfaction. If service providers provide customers with quality products that satisfy their needs, the business has initially made customers satisfied. Design/methodology/approach: Group interview method implemented in qualitative research. The study was conducted to collect the opinions of 07 managers working at life insurance companies in Vietnam. The quantitative research method used the formal study (n = 500 customers): Preliminary research sample was performed by preliminary analysis through Cronbach's alpha coefficient and EFA discovery factor to evaluate the convergent and discriminant value of the scale. This study used the structural equation model analysis (SEM) with SPSS 20.0 software and Amos. Findings: The article showed that research results bring practical value in improving customer satisfaction in Vietnam. Company leaders recognize the importance of enhancing customer satisfaction. Research, Practical & Social implications: The study has synthesized the theory of service quality and customer satisfaction. In addition, the study has systematized the relationship between the factors measuring the service quality of life insurance and customer satisfaction. Originality/value: The paper's originality and value help managers calibrate and evaluate the scale and develop it into a set of observed variables measuring the service quality of life insurance and customer satisfaction in a transition market like Vietnam. The topic contributes to a new study on customer satisfaction in life insurance services, a document for other research in the life insurance field in Vietnam.

ASSESSMENT OF LIFE INSURANCE SERVICE QUALITY DIMENSIONS AND CUSTOMER SATISFACTION THROUGH THE SERVPERF MODEL

The present research focused on assessing the life insurance service quality and customer satisfaction through the SERVPERF model. In the wake of Liberalization, privatization, and Globalization (LPG) has significantly impacted the insurance industry in India. This leads to the emergence of private and foreign players in the country. The private and foreign insurance companies established in the country provide effective service using the latest technology. All foreign players operated in India through joint ventures with private players. In this cutthroat competition among life insurance companies, consumers are very much aware of the alternatives available concerning services and the provider organization. Now consumer expectations are rising, and service provider organizations should be aware of these expectations. The present study's objective is to compare and analyze the service quality perception of customers about public and private sector life insurers through the SERVPERF model. A total of 400 respondents completed the field survey conducted in Chennai city. Out of 400 respondents, 100 were from LIC, and the rest 300 respondents were from private sector life insurance companies of ICICI Prudential, SBI Life, and HDFC Life Insurance Company Limited. The private players have been adopted based on their market share. The collected data are analyzed with the help of SPSS package version 21. Based on the analysis researcher found that both public and private sector life insurers offered quality services to customers equally.

The Relationship between Service Quality, Perceived Value, Corporate Image, Complaint Behaviour, Role of Agent and Customer Satisfaction in Life Insurance Services in Klang Valley, Malaysia

The life insurance industry in Malaysia has developed since the British colonised Malaya era in the 18th century. The industry contributes to the economic growth in GDP by collecting the premium paid by the policyholders and, in return, promising a sum of money to pay to the policyholders when unfortunate events occur. Customer satisfaction is an important factor for policy owners to continue to pay their premium on time and to purchase new insurance product in future. The objective of this research was to examine the determinants of customer satisfaction in life insurance services in Klang Valley. From this study, 399 responses were collected through online questionnaire surveys. The questionnaire data was analysed using SPSS version 28. Demographic analysis, reliability test, normality test and coefficient test was conducted. The Pearson correlation coefficient analysis was used to assess the link between the independent variables (Service Quality, Perceived Value, Corporate Image, Complaint Behaviour, Role of Agent) and the dependent variable (Customer Satisfaction). Overall, the respondents were largely satisfied with their life insurance companies with customer satisfaction. Based on the output data, all five hypotheses in this study were supported, showing that service quality, perceived value, corporate image, complaint behaviour and role of agent significantly and positively influence satisfaction among life insurance customers in Klang Valley. Therefore, insurance organizations should pay attention to all factors mentioned in this study when offering services to clients because customer satisfaction translates into company profitability and customer loyalty. As a result, rigorous training courses should be provided to all company employees, especially insurance agents, who are the critical role as coordinator between the insurance company and clients.

State of personal insurance in the Kyrgyz Republic at the present stage of development in the conditions of the COVID-19 pandemic

The article discusses the current state of personal insurance in the Kyrgyz Republic, which is a very significant financial instrument for maintaining the stability of the welfare of the country's population. The legislative definition of the concepts of insurance activity, the insurer, the insured, the contract of personal insurance, the grounds for concluding a contract of personal insurance are being studied. The classification of types of personal insurance according to various criteria is given. Life insurance services provided by individual insurance companies of the republic are considered. The dynamics of insurance premiums and insurance payments of several leading insurance companies in Kyrgyzstan in recent years in the context of the ongoing financial and economic crisis caused by the COVID-19 pandemic are analyzed. In the current period, insurance companies have demonstrated an increase in the volume of insurance premiums and insurance payments for personal insurance. At the same time, the development of life insurance (accumulative) remains at a low level. For further progressive movement of this segment of insurance, it is necessary to implement several key tasks.

Empirical study on customer satisfaction towards services of Life Insurance Corporation at Lucknow

The study evaluates whether or not Life insurance products and services of LIC meet or exceed consumer expectations in light of its business goals and strategies. The study was restricted to Lucknow city. The paper attempt to study the Customer satisfaction from services of LIC. In a couple of years, improvements in the insurance sector have brought about a major change in the way the firms competition in market. Today, insurance firms prioritize providing excellent customer service. In a growing number of industries, customer satisfaction is becoming recognized as a differentiator and a crucial component of business strategy. Essential information is drawn from Questionnaire through survey. The secondary information is drawn from different sources like research articles from Journals, Magazines. It is a descriptive research study. To increase the life insurance penetration LIC would have to introduce new policies according to customers need and demand, LIC has to emphasize more on rural areas and use aggressive marketing strategies; they also have to improve their feedback system to know customer satisfaction level. This research can be used by insurance companies, customers, Academics, faculties and students. In this paper, the model customer satisfaction towards services of LIC is presented comprehensively and lucidly at the ground level state where the actual customer responses were analyzed.

The Prudential Group Archive: Alexander Korda, London Film Productions and Denham Studios

This article examines the Prudential Group Archive, a valuable resource for the study of London Film Productions (LFP), the British film company founded by Alexander Korda in 1932. The Prudential, a long-established British life insurance and financial services company, invested in LFP at a time when the British film industry was expanding, and Denham Studios was built as a major production facility in 1936. The primary sources generated through this connection provide a rare opportunity to study the financial operation of a major film company as well as to evaluate the strategies that were put in place by the Prudential to monitor its progress throughout its time as an investor which ended in 1945. The article uses the archive to gain insights into the Prudential’s motives for backing the film industry, the building of Denham, the management of Korda and LFP and the impact of the Second World War. It is demonstrated how the archives provide a unique resource for understanding the pressures on film production in the 1930s, as well as highlighting rarely glimpsed material, infrastructural and collaborative aspects of film history such as the practical operation of studios during the Second World War when they were affected by bomb damage, requisitioning and labour shortages. Unlike archives relating to the British film industry which predominantly deal with film personalities and film titles, the Prudential Group Archive documents the crucial importance of the financial aspects of film production. The article also points to documentation in other collections that can productively be interrelated with the Prudential’s archives.

Tingkat Pemahaman dan Jasa Agen Dalam Meningkatkan Minat Calon Nasabah Menjadi Peserta Asuransi Syariah di PT Prudential Life Assurance Cabang Binjai Timur


 Insurance agents play an important role for insurance businesses as they help them in marketing and selling their goods to potential customers. Due to the need for an insurance business representative, he or she must be familiar with the insured. Insurance products and how to sell insurance products are two topics that interest me. Even if an agent holds a sharia insurance license, this does not guarantee that he or she is competent. Based on the situation stated above, the following is the formulation of the problem to be written: 1. At PT. Prudential Life Assurance East Binjai Branch, how sensitive is the participant to sharia insurance? 2. Why might agents in the PT. Prudential Life Assurance East Binjai Branch be interested in becoming sharia participants? 3. How do you assess the level of understanding of PT. Prudential Life Assurance Binjai Timur Branch agents and agent services in relation to your desire to become a sharia insurance customer? The findings of the study are as follows: The level of comprehension of sharia insurance agents might be found in the medium or quite understanding groups because these agents are prospective insurance clients. The understanding category also includes the level of understanding of sharia insurance agents. Understand what sharia insurance is and how it might benefit you. Insurance agents' services are highly valued because they are the driving force behind insurance firms. Agents are needed in the community for a variety of reasons, including educating the public on how to learn about, understand, use, and enjoy life insurance services. At PT. Prudential Life Assurance Branch East Binjai, the importance of knowledge and the role of agents in business ethics is an endeavor to reconcile a company's strategic goals with the needs of morality.
 Keywords: Agent Understanding Level, Agent function ,Customer Interest

Analysis of the Role of Agents in Improving Insurance Policies at PT. Prudential Life Assurance Binjai

Insurance agent is someone who is a marketer in insurance products and has met the criteria and has qualifications as a licensed insurance agent in the implementation of insurance sales duties in accordance with their duties as determined by the company. Prudential is an insurance company that is present to provide life insurance services, with this life insurance service it is hoped that the community can maintain a lifestyle that avoids various life risks. This study aims to determine the role of agents from Prudential Companies in improving insurance policies. The type of this research is descriptive qualitative research. Data collection techniques used are library research and field observations, using document studies and interviews. The focus of this study is to analyze the effect of the agent's role in improving Prudential's insurance policy. Based on the analysis that has been carried out, the results of the agent's role in improving insurance policies are quite important. Success in selling policies is very dependent on the performance of agents owned by an insurance company.

Tingkat Pemahaman dan Jasa Agen Dalam Meningkatkan Minat Calon Nasabah Menjadi Peserta Asuransi Syariah di PT Prudential Life Assurance Cabang Binjai Timur


 Insurance agents play an important role for insurance businesses as they help them in marketing and selling their goods to potential customers. Due to the need for an insurance business representative, he or she must be familiar with the insured. Insurance products and how to sell insurance products are two topics that interest me. Even if an agent holds a sharia insurance license, this does not guarantee that he or she is competent. Based on the situation stated above, the following is the formulation of the problem to be written: 1. At PT. Prudential Life Assurance East Binjai Branch, how sensitive is the participant to sharia insurance? 2. Why might agents in the PT. Prudential Life Assurance East Binjai Branch be interested in becoming sharia participants? 3. How do you assess the level of understanding of PT. Prudential Life Assurance Binjai Timur Branch agents and agent services in relation to your desire to become a sharia insurance customer? The findings of the study are as follows: The level of comprehension of sharia insurance agents might be found in the medium or quite understanding groups because these agents are prospective insurance clients. The understanding category also includes the level of understanding of sharia insurance agents. Understand what sharia insurance is and how it might benefit you. Insurance agents' services are highly valued because they are the driving force behind insurance firms. Agents are needed in the community for a variety of reasons, including educating the public on how to learn about, understand, use, and enjoy life insurance services. At PT. Prudential Life Assurance Branch East Binjai, the importance of knowledge and the role of agents in business ethics is an endeavor to reconcile a company's strategic goals with the needs of morality.
 Keywords: Agent Understanding Level, Agent function ,Customer Interest

Perspectives of the development of life insurance in Georgia

Problems in the life insurance market must be taken into account by insurance companies, however, the public must also be aware of the benefits that life insurance can bring to them. By using this insurance, people are able to take care of their family financial stability in the event of an unforeseen event. The aim of the paper is to promote the development of the life insurance market, improve the insurance culture and system, as well as increase public confidence in life insurance, conduct a study of the life insurance market and study the state of its development in Georgia. Systematic and logical generalization, analysis and synthesis methods of research were used to address this issue. Conclusion. Among the factors hindering the development of the insurance market, we can single out: Lack of information; Mentality; Economic situation of the population. At the same time it is necessary to develop the investment market, which will give incentives to people to invest in life insurance. In the field of pension and life insurance to develop and introduce new products that will be maximally adapted to different segments of the population. It is very important to popularize life insurance. Improve the control mechanism and control the objectivity and fairness of the contracts concluded in the life insurance service, monitor the extent to which the parties to the contract fulfill their obligations. It is necessary for insurance companies to adapt their products to different social strata as much as possible and to take into account their capabilities. To develop individual approaches to each customer. Raise public awareness, raise their qualifications and introduce innovative approaches. Keywords: life insurance, pension insurance, term, perpetual and mixed life insurance.

Competitive Strategy Alighnment in Enhancing Insurance Uptake: An Evaluation of Life Insurance Products in Uganda

The study examined the effect of competitive strategies on life insurance uptake in Uganda using Kampala Central Business District as a case study. Specifically, the study examined the extent to which differentiation strategy, cost leadership strategy and distribution channel affect life insurance uptake in Uganda. A cross-sectional research design was used with a mixed research approach employing both qualitative and quantitative methods of data collection and analysis. A sample size of 306 respondents was selected from a study population of 1500 using of Krejcie & Morgan’s table. Data was analyzed using mean and standard deviation for descriptive analysis. Pearson’s correlation and regression analysis were also used to analyze the relationship between competitive strategies and life insurance uptake, and to determine the most significant predicator variable among the independent variables respectively. At bivariate level, differentiation strategy, cost leadership strategy and distribution channels had a significant positive relationship with life insurance uptake. The multiple regressions established that differentiation strategy, cost leadership strategy and distribution channels had a significant influence on life insurance uptake. The researchers recommend that there should be more differentiation of life insurance products and services offering, as this will enable companies to experience growth in the areas of premium volumes, market share, and profitability. The researchers also recommend that life insurance companies should design low insurance premium and product to allow even low income earners afford life insurance policies; and that there should be diversified product distribution channels such that customers are able to access reliable products and services at very competitive prices.

The Life Insurance Market in Albania and the Factors that Affect its Development

Life insurance companies play a very important role in the financial sector. Life insurance provides individuals and the economy as a whole, a lot of important financial services. This is one of the main reasons for addressing this topic. In this paper is presented an overview of the progress of the development of the life insurance market among years and recently its trend and current position is shown. There are insurance companies that offer life insurance service in our country, their products are presented to detailed. There are several factors from different fields that directly or indirectly affect promoting the development of the life insurance market. They are presented explained and shown and their progress in parallel with the life insurance market. The special feature of this paper is an econometric study, which explains the relationship that exists between the credit factor mortgage and life insurance. The role of AMF, (Financial Supervision Agency), is mentioned as quite important in the development of the insurance market. The measures taken and targeted remain an objective quite important, on which the performance of the life insurance market depends.

СИСТЕМИ СТРАХУВАННЯ ТУРИЗМУ ТА ТУРИСТІВ

The modern insurance market offers a wide range of insurance products, thanks to which it has the opportunity to integrate with other sectors of the economy. Tourist activity by its economic nature is characterized by a high degree of risk, and therefore its effective functioning is impossible without insurance. All developed countries have long introduced insurance in the tourism market for the successful functioning of the industry and the state economy as a whole. The issue of insurance in tourism in the Ukrainian market is problematic, as it is characterized by low awareness and trust of the population, insufficient attention from government agencies. However, the coronavirus pandemic has made significant adjustments to the dynamics of the insurance market in 2020. The sharpest economic downturn since the 1930s has led to a drop in demand for insurance in 2020, especially for life insurance services. Nevertheless, the insurance industry is showing resilience in the pandemic and intends to overcome the deepest global economic recession in history, and predicts a slight recovery of insurance markets in the next 2 years. Therefore, the study and analysis of the dynamics of the insurance market in the conditions of the world in 2020, are particularly relevant. That is why the theoretical justification for the development of insurance systems in tourism is always timely. In the article the author described the main forms and types of insurance in tourism - the system of insurance of foreign economic relations in tourism ("Assistance"), personal (life and pension insurance, pension insurance, accident insurance, health insurance), property (property insurance from fire risks and natural disasters (fire insurance), insurance of crops against natural disasters, drought, hail, etc., insurance of animals in case of death due to disease and accidents, insurance of vehicles against accidents, theft and other risks, etc.), environmental insurance, liability insurance.

Determinants of customer satisfaction in online grocery shopping

This study aims to investigate the factors that influence consumer satisfaction with e-grocery shopping. Moreover, it also delves into factors that motivate shoppers to buy groceries from online retailers rather than conventional stores. A primary survey was administered to collect data. Initially, 500 questionnaires were circulated to respondents. People who have ordered groceries from online sites were the expected respondents. In this study, convenience sampling was used, and data were analyzed using structural equation modeling (SEM). The findings affirmed the relationship between consumer satisfaction and perceived convenience, risk factors, perceived product quality, and time value. However, perceived value and value for the time have a little significant effect on consumer satisfaction. There have been relatively few academic studies that look at the variables that influence customer satisfaction when shopping for groceries online. Most of the studies look at the variables that influence consumer satisfaction in the life insurance and financial services industries. By analyzing the data from Delhi and the Nation Capital Region (NCR) of Delhi, this research aims to bridge this gap available in the literature.

EMPATHY OF THE BANCASSURANCE CHANNEL: AN EMPIRICAL STUDY

Purpose: The purpose of the study is to assess the customers’ perception regarding empathy exhibited by the bancassurance channel and factors affecting it.
 Design/Methodology/Approach: Using random sampling, the data was collected from customers of several branches of State bank of India in Guwahati city of Assam, who have availed life insurance services from these branches. Tool of structured questionnaire was used to collect primary data. Mean, standard deviation, regression analysis was used to analyze the data and draw logical conclusions. 
 Findings: The study shows that customer perceives bancassurance channel to have a high level of empathy towards customers. It was also found that none of the demographic variables considered in the study have any impact on influencing perception. Therefore, policymaker can adopt one fits all approach in the case of demographic aspects to improve the empathetic nature showed by the bancassurance channel.
 Research Limitations: The study takes into consideration the customers who have bought Life insurance service from various branches of State Bank of India, Guwahati, Assam, India.
 Originality: The study is first of its kind in assessing customer’s perception of empathy shown by the bancassurance channel. The study will be useful for researchers, academicians and those working in the area of bancassurance and in their understanding about factors influencing customer experience, satisfaction and retention strategy.
 Major Conclusion: The study finds that customers of the bancassurance channel perceive that the channel demonstrates high empathy. Therefore, policymaker can advocate for an increase in penetration of life insurance through the bancassurance channel. As there is no association between the demographic factors and customers’ perception towards empathy shown by the bancassurance channel, policymaker can adopt one fits all approach in the case of demographic aspects to improve the empathetic nature showed by the bancassurance channel.