• Journal of Arbitration Studies
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• v.29 no.2
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• pp.225-237
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• 2019

Recently, it has been argued that it is necessary to attract foreign patients outside domestic insurers and to allow foreign doctors to treat in domestic hospitals in order to develop the insurance industry and revitalize the medical industry. Currently, large medical institutions in Korea are attracting foreign patients in connection with foreign insurance companies. It is desirable to increase the number of overseas patients who want excellent medical services in Korea, and to provide opportunities for domestic insurance companies to attract overseas patients by expanding job creation through a revitalization of the medical industry. Therefore, this study suggests the development direction for insurers who aim to attract foreign patients through the side effects of attracting foreign patients in accordance with the Financial Services Commission's plan to strengthen the competitiveness of the financial industry. In addition, this study intends to contribute to the strengthening of the competitiveness of attracting foreign patients, through domestic insurance business, to the insurance direct payment market for overseas patients using domestic medical institutions that are concentrated in foreign insurance companies and in the blind spot of domestic law application.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.3
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• pp.277-286
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• 2021

This paper examines the readiness of Jordanian insurance companies to apply the International Financial Reporting Standards (IFRS 17), and the challenges of its application. The study developed a questionnaire based on prior related studies, and in the light of IFRS 17, the study used different statistical methods and techniques such as means, standard deviation, and t-test to achieve its goals. The results indicate that Jordanian insurance companies are not ready to apply IFRS 17, for several reasons. Most importantly, insurance companies have a low level of ability to define the scope of IFRS 17, study the impact of IFRS 17 application to financial reports, and develop new internal monitoring methods to apply IFRS 17. As for the challenges for applying IFRS 17, the biggest is the data challenge, followed by the challenges of first-time implementation, systems, and results and presentation. Finally, this paper advocates that it has become important for Jordanian insurance companies and supervisory bodies to enhance their readiness to apply IFRS 17 within a scheduled time framework and by taking several preparatory steps: performing simulations consisting of procedures to deal with IFRS 17 requirements and the impact on financial reports, and helping human resources with familiarization and application of IFRS 17.

• International Journal of Computer Science & Network Security
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• v.21 no.11
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• pp.189-192
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• 2021

The article is devoted to the issue of the content of legal instruments in terms of tourism business, namely the problems of legal regulation of insurance in tourism. The analysis of the state of development of the problem in question shows that the issue of legal regulation of the insurance contract in general and the contract in tourism services, in general, is insufficiently studied. The article is devoted to topical issues of legal regulation of insurance in the field of tourism, the search for effective mechanisms to increase the liability of both underwriters and insurers. Therefore, insurance can be considered as one of the methods of preventing unfortunate consequences during the implementation of tourism activities. The author's vision of the content of the package of measures that can positively influence not only the development of the tourist industry in general but primarily to help identify those legal segments that need improvement in the future has been stated.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.17 no.9
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• pp.578-588
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• 2016

Job satisfaction is the primary factor in determining happiness, so people change jobs when they aren't satisfied. In the case of insurance solicitors, high turnover rates imply low job satisfaction. Job stress impacts job satisfaction, and job stress is particularly prominent for insurance solicitors whose job involves working with customers face- to- face. The purpose of this study is to investigate factors influencing job satisfaction for insurance solicitors. Participants in this study consisted of 245 insurance solicitors from 3 insurance company located in Seoul, Kyonggi province and Kyongsang province. Data was collected from self-administrated questionnaires and analyzed using independent t-test, ANOVA, Pearson's Correlation Coefficient, and multiple regression. Job satisfaction showed a significant correlation with dysfunctional customer behavior, job stress, and ability to cope with stress. The main factors of job stress, stress coping ability, and income level had significant influence on job satisfaction for insurance solicitors. The explained variance for job satisfaction was 34%. These findings provide empirical evidence for the importance of job stress and stress coping variables in job satisfaction for insurance solicitors. This study aims to assist in predicting insurance solicitor's job satisfaction.

• Journal of Service Research and Studies
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• v.9 no.3
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• pp.39-60
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• 2019

The purpose of this study is to analyze the determinants of insurance product cross selling performance. For the study, 11 insurance managers and 2 sales managers belonging to A insurance agency were selected and in-depth interviews were conducted. The analysis of the research data was done by the open coding method suggested by Strauss & Corbin(2001). As a result, 84 concepts, 28 subcategories and 10 categories were derived. The ten categories that were determinants of insurance product cross-selling performance were personal characteristics, consultation method, cross-selling ratio, sales culture, education, customer change, customer DB provision, satisfaction, business support system, and customer service. In order to verify the qualitative results, quantitative analysis was emplyed to the actual performance data of insurance planners belonging to A insurance agency during April 2016~March 2019. As a result of the analysis, the age, position, and the number of months worked in the insurance company had a statistically significant effect on the number of life insurance contracts in total insurance contracts and life insurance contracts in total insurance contracts. In addition, the age, position, and the number of months worked in the insurance company had a statistically significant negative impact on the number of non-life insurance contracts in the total number of insurance contracts and the total amount of insurance contracts in total insurance contracts. The result of this study can be an important basic data for the development of educational programs and job support systems for the training of insurance planners. Insurance companies should refer to ten categories derived from qualitative research in order to increase the performance of insurance planners and to promote long-term service. Especially, it is necessary to develop specialized education programs and job support systems so that cross sales that increase the proportion of life insurance sales increase.

• Journal of Information Technology Services
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• v.19 no.4
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• pp.125-138
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• 2020

This paper proposes a more advanced livestock insurance product by comparing the status of livestock management in Korea with Netherlands case. The project focused on blockchain technology, IoT based management manual and planned livestock insurance related to Insurtech. The livestock insurance policy automatically stores information on each block through sensors attached to livestock, so that the livestock manager carries out follow-up manual for each livestock. Blockchain technology contains numerous advantages such as distributed ledger and irreversibility. However, the sharing of transparent information can be a burden to the policyholder. To compensate it, new business model needs to be proposed to provide incentives to the policyholder. We focused on the data of Gyeonggi Province, which suffered the most from African swine fever (ASF) in Korea. The corresponding Insurtech based livestock insurance can enable policyholders and insurers to build trust by sharing objective and transparent information, and maximize their respective profits by enabling mutual control.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.65
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• pp.71-94
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• 2015

The insurer's right to take legal proceedings in the name of the assured against a third party who has caused loss of or damage to the goods is of particular importance in marine cargo insurance under international trade transaction. The amounts recovered in subrogation actions, known in practice simply as recoveries, form a significant element in the balancing of the cargo insurer's underwriting account by improving ing the loss record. However, even if the carrier involved in the accident have a liability for damages, in some cases can not claim damages in accordance with the after clauses and carrier's exemption clauses indemnity carrier under the contract of carriage. In recent, the dispute cases to argue damages claim of the carrier in connection with business practices of surrender B/L, the claim is dismissed cases in accordance with the Arbitration Rules of the after clauses. In the future, the surrender B/L is continually to use as a marine transport method, it may also be interested in insurance subrogation of damages claims to insurance accident by a surrender B/L.

• Journal of Distribution Science
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• v.16 no.5
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• pp.5-15
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• 2018

Purpose - Nowadays customers have become empowered by information communication technologies. This state of customers has brought enormous pressure to bear on organizations, thus, organizations have to stay relevant, market-oriented and profitable. The insurance sector is one that is constantly challenged by its exposure to ICT and the associated need for e-services by myriad customers. With increasing competition in the health insurance environment, it is necessary for the sector to understand customer expectations and how they perceive the services offered. This study seeks to determine the role played by e-services in relation to customer satisfaction in health insurance industry in Botswana where a substantial investment has been made in the sector. Research design, data, and methodology - This study is conducted using two prominent medical aid schemes in Botswana namely BPOMAS and PULA. Subscribers of these medical schemes were the respondents whose views were sourced using both closed and open ended questionnaires. Systemic sampling technique was used to select the participants, while descriptive statistical techniques were mainly used to analyze socio-demographic data of the samples. Results - The results reveal that the level of usage of the medical insurance firm's website and email service is higher for PULA participants than for BPOMAS participants. Conclusions - The findings of this study have practical implications for managers who should understand customers' value perceptions regarding e-service quality in Botswana.

• Communications for Statistical Applications and Methods
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• v.21 no.3
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• pp.235-243
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• 2014

Constrained Bayesian estimates overcome the over shrinkness toward the mean which usual Bayes and empirical Bayes estimates produce by matching first and second empirical moments; subsequently, a constrained Bayes estimate is recommended to use in case the research objective is to produce a histogram of the estimates considering the location and dispersion. The well-known squared error loss function exclusively emphasizes the precision of estimation and may lead to biased estimators. Thus, the balanced loss function is suggested to reflect both goodness of fit and precision of estimation. In insurance pricing, the accurate location estimates of risk and also dispersion estimates of each risk group should be considered under proper loss function. In this paper, by applying these two ideas, the benefit of the constrained Bayes estimates and balanced loss function will be discussed; in addition, application effectiveness will be proved through an analysis of real insurance accident data.

• Journal of Information Technology Services
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• v.2 no.2
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• pp.63-73
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• 2003

Insurance system has a lot of decision factors which are affected by the kinds of insurance products. and has the features of many exceptions. Since in applying the product attributes to the current system the value definition through tables and the exception treatment logic (if then else) are used in parallel, the cost of a product change and a new product development becomes increased and the prompt market reaction is difficult. In this paper, we propose the well formed rule base system which makes data for the business logic of insurance attributes and discuss the benefit of application of this system to the real project.