• KDI Journal of Economic Policy
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• v.16 no.2
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• pp.91-109
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• 1994

본고(本稿)는 피보험자(被保險者)의 위험정도(危險程度)에 관하여 정보의 불균형이 존재하고 있는 보험시장에서 전체(全體) 시장참여자(市場參與者)의 효용(效用)과 기대이익(期待利益)을 증대시키기 위하여 어떠한 가격정책을 수립하여야 하는지를 분석(分析)하고, 이 분석을 토대로 현재 정부가 추진중인 가격자유화 추진계획방향을 평가하고 개선방향(改善方向)을 제시하고자 하였다. 본고(本稿)의 분석결과(分析結果)에 따르면 정보(情報)의 불균형하(不均衡下)에서 자유화 초기단계의 제한적인 가격자유화는 전체 보험이용자의 효용을 증대시키는 효과를 가져오나 자유화의 폭이 커질수록 사회전체적인 효용증대효과는 불명확해진다. 이 경우 일정범위에 대해서는 요율(料率)과 보장범위(保障範圍)를 위험에 따라 차별화하지 않는 단일(單一) 공동요율(共同料率)을 제시하는 계약(契約)을 주계약(主契約)으로 구매하게 하고, 보충계약(補充契約)인 특약부분(特約部分)에서 각 이용자가 위험정도에 따라 차별화된 가격으로 적절한 보장범위를 선택하게 하도록 정부가 유도하는 것이 바람직하다. 주계약과 보충계약으로 구성된 이러한 보조계약(補助契約)은 기존의 단일(單一) 공동요율(共同料率)에 의한 계약보다 파레토개념에서 우월한 계약으로 시장전체에 순효용증대(純效用增大)의 효과(效果)를 가져올 것이다. 또한 고지의무(告知義務)의 강화(强化), 위험분류(危險分類) 및 선택(選擇) 업무(業務)의 효율화(效率化) 등으로 보험시장내에서 정보의 불균형현상이 해소되고 나면 실질적(實質的)인 가격(價格)의 완전자유화(完全自由化)를 실시하여 파레토최적(最適)을 이루어야 할 것이다. 따라서 정부는 보험시장(保險市場)의 특성(特性)을 고려하여 주어진 조건에서 전체 시장참여자의 효용과 기대이익을 극대화하는 가격정책(價格政策)을 펴야 하며, 현재 추진중인 보험상품(保險商品) 가격자유화계획(價格自由化計劃)도 이런 관점에서 재조명되어야 할 것이다.

• The Journal of the Korea Contents Association
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• v.21 no.6
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• pp.588-597
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• 2021

In Korea, the standard for calculating the profit of a general insurance, which constitutes the loading in the premium, is not specified, and most of the non-life insurance companies reflect 2~5% of the premium as profit margin. Although the transparency of pricing is required due to the nature of insurance products, there are insufficient standards and empirical studies on the determination of insurance price factors in the domestic insurance industry. In this study, we propose a method of calculating the expected profit margin of general insurance. A way for calculating the expected profit margin of the general insurance is to reflect the shareholder demand on the capital that the insurance company should secure against the risk of loss due to the profit/loss volatility, as a ratio to the insurance premium. Shareholders should be compensated for the risks associated with their insurance operations, and the opportunity cost of these shareholders is to be reflected in premiums. In this study, we calculate the amount of capital that the company should accumulate to prepare insurance risk for each product, and insurance risk is defined as the volatility of insurance operating profit/loss. And insurance risk is calculated using stochastic simulation based on Dynamic Financial Analysis (DFA) methodology. Finally, we calculate the expected profit margins for 25 products and analyzed the difference between those and the profit ratio of domestic general insurance.

• The Korean Journal of Applied Statistics
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• v.31 no.6
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• pp.771-783
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• 2018

The life insurance industry is interested in various factors that influence the long-term extensions of insurance contracts such as the necessity for the advisors' long-term management of consumers, product consulting, and improvement of the investment aspects. This paper investigates important factors leading to a long-term contract that forms an important part of the life insurance industry in Korea. For this purpose we used the data of contents (i.e., data from Jan 1, 2011 to Dec 31, 2016) of the contracts of xxx insurance company. In this paper, we present how to select important variables to influence the duration of the contract maintenance via a penalized Cox's proportional hazards (PH) modelling approach using insurance life data. As the result of analysis, we found that the selected important factors were the advisor's status, the reward type 2 (annuity insurance) and tendency 4 (safety-pursuing type).

• Journal of the Korean Institute of Gas
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• v.22 no.5
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• pp.1-17
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• 2018

Related incidents and accidents are frequent after 2000 years, such as the outbreak of the Taian peninsula crude oil spillage and Gumi hydrofluoric acid leakage accident. In the wake of such environmental pollution accidents, Consensus has been formed to enact legislation on liability for the compensation of environmental pollution in 2014 and the rescue, and has been in force since January 2016. Therefore, in the domestic insurance industry, the introduced environmental liability insurance system needs to be managed through the standardization formula of a new insurance model for managing the environmental risk. This study has been carried out by the emergence of a safe insurance model with a risky nature of the risk type, which is one of the services of the knowledge base. The verification of the six assurance media on the occurrence of environmental pollution such as chemical, waste, marine, soil, etc. is expressed through semantic interoperability through this possible ontology. The insurance model was designed and presented by deducing the relationship between the amount of money and the amount of money that was written in the area of existing expertise, In order to exclude the possible consequences, the concept of abstract is conceptualized in the form of a customer, and a plan for the future development of an ontology-based decision support system is proposed to reduce the cost and resources consumed every year. It is expected that standardization of the verification standard of the mass of mass will minimize errors and reduce the time and resources required for verification.

• The Journal of the Convergence on Culture Technology
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• v.8 no.4
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• pp.45-51
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• 2022

This study aims to provide basic data on socioeconomic and social activities from the point of view that disability or disease accompanying the suffering of industrial accident subjects is directly related to individual socioeconomic activity and is a major variable affecting current health and daily life satisfaction. The purpose of this study is to investigate the relationship between pain and life satisfaction and to suggest basic data for economic and psychological rehabilitation of industrial accident insurance beneficiaries by linking factors affecting life satisfaction with industrial accident services. As a result of the study, it was found that workers' compensation insurance benefit recipients had an effect on their daily life satisfaction after becoming an industrial accident patient due to industrial accident pain. There was a positive(+) relationship between rehabilitation services and medical counseling services. Occupational accident pain lowers self-esteem, which is a characteristic of an individual, and even if current health improves, satisfaction with daily life decreases. The importance of industrial accident-related services can be seen in that the satisfaction of daily life is increased through rehabilitation services and medical consultation services. In addition, it was indirectly confirmed that satisfaction with rehabilitation services and health can be improved as a result of continuing attempts to improve self-esteem suitable for patients in various problems and situations after an industrial accident.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.7 no.6
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• pp.1337-1347
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• 2006

From the 1990s, Korean Life insurance industry has been experienced an profound impact from various exterior factors. In this study, productivity change in Korean Life insurance industry was measured by the Malmquist productivity change index. Analysis was made based on the balanced panel data from 1990 to 2003 collected from 8 lift insurance firms and 1993 to 1997 from 20 firms. The results show that survived firms' productivity change was higher than other firms.

• NEWSLETTER 전기공업
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• no.91-22 s.35
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• pp.1-17
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• 1991

• Proceedings of the Korea Society for Industrial Systems Conference
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• 2003.11a
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• pp.277-307
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• 2003

• Journal of the Korea Institute of Information and Communication Engineering
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• v.22 no.9
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• pp.1147-1152
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• 2018

In the recent, Chinese insurance market has taken a introduction of InsurTech. It is a combination of insurance and fintech. This means that the policyholder design their own insurance and take out the policy on-line without insurance planner. This trend is remarkable issue. Growth rate of InsurTech in China have significantly been growing. In addition, Chinese insurance market has kept generally stable and fast growth rate, although Chinese forecasting economic growth is subject to massive uncertainties. Nevertheless, the increase in the number of Korean insurance companies fails to settle into Chinese insurance market due to lack of awareness about newness of Chinese insurance market. Moreover, Korean insurance company in China or planning to enter are not prepared for InsurTech yet. Chinese insurance market is valuable for Korean insurance companies. This paper suggests implications of re-entry into Chinese insurance market to Korean insurance companies by analyzing policies which could make environment to endorse Chinese insurtech and case of Chinese insurtech companies.

• The Korean Journal of Financial Management
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• v.10 no.1
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• pp.249-280
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• 1993

Recent financial theory views insurance policies as financial instruments that are traded in markets and whose prices reflect the forces of supply and demand. This article analyzes individual's insurance purchasing behavior along with capital market investment activities, which will provide a more realistic look at the tradeoff between insurance and investment in the individual's budget constraint. It is shown that the financial economic concept of insurance cost should reflect the opportunity cost of insurance premium. The author demonstrates the importance of riskless and risky financial assets in reaching an equilibrium insurance premium. In addition, the paper also investigates how the investment income could affect the four established theorems on traditional insurance literature. At the present time in Korea, the price deregulation is being debated as the most important current issue in insurance industry. In view of the results of this paper, insurance companies should recognize investment income in pricing their coverage if insurance prices are deregulated. Otherwise. price competition may force insurance companies to restrict coverage or to leave the market.