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Technology and the Insurance Industry by Antonella Cappiello Pdf
The book analyzes the role of technology in the redefinition of the competitiveness of insurance markets. With a focus on the competitive challenges of InsurTech startup to the incumbent insurers, the book will discuss the strategic role of technology both in the development and in the distribution of insurance services and explore the customer relationship evolution following the digitalization of services offered. The book presents original theoretical and empirical contributions addressing how digitalization impacts the insurance environment and regulation, and how InsurTech development represents a threat for traditional companies, from Big Data analysis to digital devices, from personal interactivity to home automation systems development. The project’s key benefit is up-to-date analysis of the competitiveness of technology usage in the insurance field, with particular reference to the distributive variable and to the future trends of the customer relationship in the short and medium-long term. The book will be of particular interest to scholars and students of insurance and financial technology.
Consolidation in the private health insurance (PHI) industry may be resulting in less competitive markets and contributing to rising health insurance rates paid by consumers and employers. However, measuring the extent of changes in market competition over time or the effects of changes is challenging. Researchers have used the data available to study competition in PHI markets, typically using one of two measures of competition: HMO market concentration; or the number of HMOs in a market. This report summarizes the findings of peer-reviewed research on concentration in PHI markets and the relationship between the level of competition and other variables, such as premium prices and provider reimbursement rates. Illustrations.
United States. Congress. House. Committee on the Judiciary. Subcommittee on Monopolies and Commercial Law
Author : United States. Congress. House. Committee on the Judiciary. Subcommittee on Monopolies and Commercial Law Publisher : Unknown Page : 744 pages File Size : 44,5 Mb Release : 1985 Category : Antitrust law ISBN : UCR:31210012865794
Ensuring Competition by Ignatius J. Horstmann,G. Frank Mathewson,Neil C. Quigley Pdf
A controversial aspect of proposed changes to regulations for the financial services industry in Canada is the proposal to allow banks to distribute insurance products. This publication provides an economic analysis of the forces that have brought the banks and insurance companies into direct competition. It reviews the state of the insurance industry in Canada, assesses potential costs of bank sales of insurance, examines whether the banks have a genuine economic advantage in insurance distribution, and discusses the benefits to consumers of the above proposal. Evidence is presented on consumer benefits and impact on the insurance industry from countries where banks are permitted to distribute insurance products (Europe, United States, Australia, New Zealand). Finally, policy questions facing Canadian legislators are addressed.
Competitive Dynamics in the Global Insurance Industry by Markus Schimmer Pdf
This thesis investigates the competitive dynamics in the global insurance industry from 1999 to 2008. After reviewing the current state of the academic debate on interfirm rivalry, it derives a research agenda spanning different levels of analysis and phenomena of interest. Specifically, the thesis explores (1) how and why firms continuously adjust their strategic profiles in the presence of an industry's strategic group structure, (2) whether market shocks (namely 9/11 and Hurricane Katrina) temporarily change the decision-logic underlying competitive choices, and (3) whether stock markets respond differently to competitive moves that follow a clearly stated strategic rationale.
United States. Congress. House. Committee on the Judiciary. Subcommittee on Monopolies and Commercial Law
Author : United States. Congress. House. Committee on the Judiciary. Subcommittee on Monopolies and Commercial Law Publisher : Unknown Page : 332 pages File Size : 55,5 Mb Release : 1989 Category : Antitrust law ISBN : LOC:00183859109
Competitive Practices in the Title Insurance Industry by United States. Congress. House. Committee on the Judiciary. Subcommittee on Monopolies and Commercial Law Pdf
Author : J. David Cummins,Anthony M. Santomero Publisher : Springer Science & Business Media Page : 379 pages File Size : 55,9 Mb Release : 2012-12-06 Category : Business & Economics ISBN : 9781461550457
Changes in the Life Insurance Industry: Efficiency, Technology and Risk Management by J. David Cummins,Anthony M. Santomero Pdf
Major challenges for life insurance companies have been posed by an unprecedented wave of mergers and acquisitions in the insurance industry and the emergence of non-traditional competitors such as banks, mutual fund companies and investment advisory firms. This is the first book to analyze the determinants of firm performance in the life insurance industry by identifying the `best practices' employed by leading insurers to succeed in this dynamic business environment. The book draws upon data from insurer financial statements as well as upon an extensive survey of life insurer management practices and strategic choices in distribution systems, information technology, mergers and acquisitions, human resources and financial strategies. Generic strategies such as cost leadership, customer focus, and product differentiation are analyzed as well as strategic practices specific to the insurance industry. Best practices are identified by measuring the economic efficiency of insurers and by comparing firms across the industry. Both cost and revenue efficiency are measured relative to best practice efficient frontiers consisting of the industry's dominant life insurance firms. Economies of scale and the effects of mergers and acquisitions on efficiency are also analyzed. Financial strategies are examined with specific reference to pricing policy, valuation of assets and liabilities, and the current state of firm-level risk management systems. The benchmarks established are the result of extensive fieldwork that identifies key financial risks and methodologies to both measure and manage them at the firm level. The results discussed in the book indicate that firm performance is significantly correlated with management practices and strategic choices. Thus, life insurers can improve profitability by adopting optimal combinations of strategies. The book contains important new material on the effects of strategic choices in product distribution systems, information technology, mergers and acquisitions, human resources, and financial risk management policies. In the area of efficiency, the methodology provides a new approach for identifying peer groups of insurers and measuring the performance of individual insurers relative to their peer group. On the topics of risk and pricing, new insights are offered relative to current methodologies and in regard to areas where improvement is clearly warranted. The book concludes with an analysis of the future opportunities and challenges in the life insurance industry facing managers, and the strategic options available to them to cope with these changes.
Efficient Monopolies by Thomas von Ungern-Sternberg Pdf
This book presents startling evidence that state monopolies can produce better outcomes than the free market. It provides an empirical comparison of the property insurance market in five European countries: Britain, Spain, France, Switzerland, and Germany. The market and cost structures of insurers in each country are described, and particular features of each market and the outcomes for customers examined. The regulatory frameworks vary widely from country to country and so do themarket outcomes, both in terms of premium level and in terms of available insurance cover.In view of the increase in major floods and other forms of natural damage (such as subsidence) over the last decades, the non-availability of insurance cover in many competitive insurance systems is likely to become a major political issue. This book shows that state monopoly is an adequate policy response. Competitive insurance systems are shown to provide incomplete cover at a substantially higher cost. In mixed systems, where the private sector can obtain reinsurance from the state (such asystem is being tried in France) the state tends to end up paying most of the costs (it reinsures most of the bad risks) while the private insurance companies keep most of the premium income.The book will be of interest to academic economists interested in privatization, regulation, the theory of the firm, and insurance; Policy-makers concerned with regulation and privatization; Insurance companies, regulators, and analysts.
Global Perspectives on Insurance Today by C. Kempler,M. Flamée,C. Yang,P. Windels Pdf
Many risks face the global insurance industry today, including the aging populations of developed countries, competition from other financial institutions, and both disparate and quickly changing regulatory demands, to name a few. The book s contributors offer their unique perspectives on challenges confronting the insurance industry and how attendant risks can be most effectively managed.
Regulation changes and their impact on business models in the insurance industry by Ismail Ismail Pdf
Doctoral Thesis / Dissertation from the year 2015 in the subject Business economics - Business Management, Corporate Governance, grade: 68.50%, University of Pretoria (GIBS), course: MBA, language: English, abstract: This study will determine how regulation changes have affected business models in the insurance industry, how customers are treated fairly within the insurance industry, and how operational efficiency is achieved despite regulation changes within the insurance industry. The South African short-term insurance industry has been inundated with many competitors attempting to obtain a space for which there is limited market share. Faced with an increase of invasive legislature, the entire industry is devoting a substantial amount of time in advancing this new regulatory regime. Amidst the competitive onslaught and regulatory arbitrage, the underwriting management agencies (UMA’s) are continuously looking for new ways to grow their businesses against the backdrop of a limited distribution channel and an expensive business model. The study was conducted through the use of a survey distributed to UMAs within local insurance companies. The survey contained quantitative questions answerable through a Likert scale. The questions revolved around the effect of regulations on operational efficiency, the Treating Customers Fairly (TCF) initiative, and business model changes in order to accommodate regulatory changes.
