保险行业如何增强市场竞争力

本文以以中国大地财产保险股份有限公司广东分公司为研究对象,分析了大地保险实施的一系列品牌营销策略措施和产生的效果,利用品牌营销理论、保险行业相关知识,再结合大地保险公司的经验对我国保险企业提出一些加强品牌建设的措施。     

中小型保险公司品牌营销策略

在市场经济中,品牌对于一个企业的发展起着至关重要的作用。中小型保险公司如何利用品牌营销策略在市场竞争中脱颖而出,这对其存在与发展至关重要。     

人保财险SX分公司责任险市场营销策略研究

随着国内外保险公司纷纷进入陕西保险市场,责任险市场竞争加剧。本文先对人保财险SX分公司市场环境分析、陕西省责任险市场供给与需求分析、人保财险SX分公司的营销状况及存在的问题、竞争对手分析、SWOT分析、市场细分选择及定位等方面进行了研究,提出了人保财险SX分公司在责任险方面的营销策略及营销策略实施建议：     

关于我国财产保险营销的几点思考

保险作为一种特殊的商品,其营销具备了与一般商品不同的诸如主动性强、人性化和注重关系营销的特点。本文回顾分析了近年我国保险业市场的宏观环境状况,根据实际工作中的体会指出,财产保险公司在市场营销中存在营销员队伍不稳定、整合营销理念尚未建立以及兼业代理带来一定的经营风险等问题。最后文章提出了几点具体的保险营销策略的实施措施。     

关于我国财产保险营销的几点思考

保险作为一种特殊的商品,其营销具备了与一般商品不同的诸如主动性强、人性化和注重关系营销的特点。本文回顾分析了近年我国保险业市场的宏观环境状况,根据实际工作中的体会指出,财产保险公司在市场营销中存在营销员队伍不稳定、整合营销理念尚未建立以及兼业代理带来一定的经营风险等问题。最后文章提出了几点具体的保险营销策略的实施措施。     

关于我国财产保险营销的几点思考

保险作为一种特殊的商品,其营销具备了与一般商品不同的诸如主动性强、人性化和注重关系营销的特点.本文回顾分析了近年我国保险业市场的宏观环境状况,根据实际工作中的体会指出,财产保险公司在市场营销中存在营销员队伍不稳定、整合营销理念尚未建立以及兼业代理带来一定的经营风险等问题.最后文章提出了几点具体的保险营销策略的实施措施.     

银保联动与融合焦点——银行系保险公司的现状、优势与策略

作为保险营销的四大渠道之一,银行保险的点滴变化都汇聚成市场的热点。201 0年以来,银行保险营销渠道的阻滞,银行系保险公司的异军突起,2014年银保新规的出台与实施,标志着我国银行保险领域正在发生着深刻的变化。银行系保险公司的现状、优势与策略如何,银保联动将走向何方？请看本期焦点文章。     

“嘿客”对保险门店经营的启示

保险公司营销渠道的创新一直是各家保险公司研究的重点,由于保险产品的特殊性,保险公司之间的竞争重点不仅体现在产品的质量上,更加体现在产品的营销策略上。     

浅议保险企业的关系营销策略

随着我国加入WTO，保险行业的竞争日趋激烈，保险公司作为经营风险的服务性企业，在进行市场营销时应从服务性企业的特征出发，制定适合本企业特征的、符合中国国情的营销策略。加快关系营销策略的实施，通过树立企业良好形象，密切企业和客户的关系，为客户提供特色服务来赢得客户、满足客户、留住客户。     

工商银行实施品牌战略提高核心竞争力研究

品牌战略是企业通过品牌栽体提高企业核心竞争力所采取的一系列手段和策略的总和,需要从品牌定位、品牌规划、品牌营销、品牌维护和品牌文化5个方面来具体实施.国际金融机构以明确的品牌定位统领战略的实施、自上而下合理确定品牌规划、开展各具特色的品牌营销、以"关系"为导向进行品牌维护、把品牌文化寓于科学高效的人力资源政策中.工商银行要强化品牌定位,凸显品牌核心价值;加强品牌规划建设,建立统一的品牌管理体系;开展全方位营销,灵活运用各种营销手段;及时维护品牌关系,加强品牌保护意识;以企业文化塑造品牌文化,以品牌文化实现品牌可持续.     

The Association between External Monitoring and Earnings Management in the Property-Casualty Insurance Industry

This paper examines the association between external monitoring and earnings management by property-casualty insurers. We extend previous work by Petroni and Beasley (1996) by expanding the set of external monitors to include both auditors and actuaries. We investigate whether certain auditor-actuary pairs are associated with less understatement of the loss reserve account by financially struggling insurers. Our data consist of loss adjustments reported by 465 property-casualty insurers for reserves established in 1993. The results indicate that under-reserving by weak insurers is essentially eliminated when the firm uses auditors and actuaries that are both from Big Six accounting firms. In contrast, non-Big Six actuaries have less impact on under-reserving by weak insurers. Our results suggest that the quality usually associated with Big Six auditors falls when the audit firm relies on third party actuaries to evaluate the loss reserve estimates of struggling insurance clients. We conjecture that Big Six actuaries insist on more conservative loss reserve levels because, compared to actuarial consulting firms, they are more attuned to the liability exposure of the auditor.     

Property–Liability Insurer Reserve Error: Motive,Manipulation, or Mistake

We use two reserve error definitions found in the literature to investigate the joint impact of previously studied incentives on the magnitude of reserve error. We find many prior conclusions are dependent upon the restricted setting in which the hypotheses are tested and on the definition of the reserve error. We find strong evidence that financially weak insurers underreserve to a greater extent than other insurers. However, our evidence casts doubt on the conclusion that insurers manipulate reserves to avoid solvency monitoring. We also find insurers increase reserves for tax purposes and to reduce the impact of regulatory rate suppression.     

The future of mobility and its impact on the automobile insurance industry

Among the trends impacting most industries are new mobility concepts, digitalization, urbanization, rising environmental awareness, and demographic change. The automobile insurance industry, in particular, is strongly affected by new mobility concepts, including autonomous, shared, and electric vehicles, which are expected to increasingly impact the risk exposure and insurance demand in the future. Identifying and assessing the resulting risk and opportunity landscape from these trends thus becomes a major strategic challenge for insurers. The aim of this paper is to analyze the trends that impact the field of mobility and thus automobile insurers. Based on this, we derive a set of strategic response measures for insurers to enable them to be prepared for the future of mobility.     

Insurer pricing and consumer welfare: evidence from Medigap

This article examines the welfare impact of imperfect competition in the Medicare supplement insurance (Medigap) market. Two firms control nearly three fourths of the Medigap market, and premiums exceed claims by over 25%. I find that a low price elasticity and consumers' brand preferences lead firms to engage in substantial marketing and price above cost. Therefore, the strategic behavior of insurers facing relatively inelastic demand is critical in explaining poor market performance. I also find that insurers do not capture all of the rents in this market; rents also accrue to actors who perform marketing functions, including agents and brokers.     

Analyst Earnings Forecasts for Publicly Traded Insurance Companies

Several trends in the insurance and financial services industry, including demutualizationconsolidation, and deregulation, have attracted increasing attention from investors and financial analysts. This paper investigates the accuracy of the earnings forecasts of financial analysts for insurance companies. Our empirical results indicate that analyst forecasts outperform random walk time-series forecasts. Furthermore, we find that both disagreement over earnings forecasts among analysts and the relative forecasting error in the mean forecasts is smaller for life insurers than for property-casualty insurers, whereas the relative errors for forecasts for multiple-line insurers are in between the two. Forecasting error is a negative function of firm size and the number of analysts who are following a company, and is a positive function of the disagreement among analysts.Analyst forecasts have a timing advantage over the random walk model. Our results also suggest that the fair value reporting requirement (SFAS 115), which has been in effect since 1994, has enhanced the accuracy of analyst forecasts. The SFAS 115 has improved the superiority of analyst forecasts over the random walk forecasts for life insurers, but not for property-casualty insurers, and there is a weak improvement for multiple-line insurers. JEL Classification: G15     

Leverage and reinsurance effects on loss reserves in the United Kingdom’s property–casualty insurance industry

We examine the relation between loss reserving errors, leverage and reinsurance in the UK’s property–casualty insurance industry. We find that financially weak insurers under-estimate reserves to reduce leverage, and so pre-empt costly regulatory scrutiny. However, at very high leverage, insurers over-reserve, suggesting a non-linear relation between leverage and reserving policy. We also investigate whether monitoring by reinsurers reduces reserving errors, and find that highly reinsured insurers are less likely to make loss reserve errors. However, the use of proportional reinsurance does not affect loss reserve accuracy.     

Efficiency in the UK life insurance industry: Mutual firms versus proprietary firms

The paper discusses the main tenets of stakeholder theory and agency theory and goes on to analyse the relative performance of a sample of 100 mutual and proprietary life insurance companies in the UK during the period 1992–1996. The paper concludes that there is weak evidence to support the contention that mutual life insurers are relatively more cost efficient than proprietary insurers. Mutual companies in the sample perform well relative to proprietary companies in terms of annual surpluses and expenses ratios. There is also evidence that fund managers in mutual companies perform at least as well on average as those in proprietary companies.     

Competition,efficiency and soundness in European life insurance markets

This paper provides cross-country evidence on the association between soundness and competition in the life insurance industry, where competition is measured by the Boone indicator. We analyse 10 European Union (EU) life insurance markets over the post-deregulation period 1999–2011. The results indicate that competition increases the soundness of the EU life insurance markets. Since the Boone indicator measures competition based on the reallocation of profits from inefficient insurers to efficient ones, our results suggest that efficiency is the mechanism through which competition contributes to insurer solvency. The soundness-enhancing effect of competition is greater for weak insurers than for healthy ones.     

Distribution channel strategy and efficiency performance of the life insurance industry in Taiwan

Changes in regulations and laws, in the past few decades, have affected Taiwan’s life insurance industry and caused many insurers to modify their marketing strategies. This article analyzes the evolution of the productive patterns in a sample of 24 life insurers that operated in Taiwan from 1997 to 2006. We estimate Malmquist productivity indexes and decompose them into four sources of productivity change. Further, we compare the differences in efficiency scores before and after the change of distribution channel strategy. The results suggest that a direct distribution channel strategy performs better than a non-direct distribution channel strategy in terms of efficiency and productivity change. It means that the coexisting direct/indirect distribution systems cannot improve the efficiency of life insurers.     

Estimating the Cost of Equity for Property-Liability Insurance Companies

Due to the highly skewed and heavy‐tailed distributions associated with the insurance claims process, we evaluate the Rubinstein‐Leland (RL) model for its ability to improve the cost of equity estimates of insurance companies because of its distribution‐free feature. Our analyses show that there is as large as a 94‐basis‐point difference in the estimated cost of insurance equity between the RL model and the capital asset pricing model (CAPM) for the sample of property‐liability insurers with more severe departures from normality. In addition, consistent with our hypotheses, significant differences in the market risk estimates are found for insurers with return distributions that are asymmetrically distributed, and for small insurers. Third, we find significant performance improvements from using the RL model by showing smaller values of excess return of the expected return of the portfolio to the model return for a portfolio of insurers with returns that are more skewed and for a portfolio of small insurers. Finally, our panel data analysis shows the differences in the market risk estimates are significantly influenced by firm size, degree of leverage, and degree of asymmetry. The implication is that insurers should use the RL model rather than the CAPM to estimate its cost of capital if the insurer is small (assets size is less than $2,291 million), and/or its returns are not symmetrical (the value of skewness is greater than 0.509 or less than ?0.509).