• The Korean Journal of Financial Management
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• v.24 no.2
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• pp.147-181
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• 2007

Our article investigates the risk implication of ownership structure in life insurance companies. We set up a model to identify the priority structure of policyholder's and shareholder's cashflow claims, and to derive its implications. Current literature on this issue has focused on the agency paradigm or the risk-sharing efficiency. Fama and Jensen(1983a, 1983b) and Mayers and Smith(1981, 1986, 1988, 1990, 1994) argue that the survival of both the corporate and the mutual form of organization is due in part to the relative efficiencies in controlling agency problems. With regard to insurance business, agency problems arise because of the three functions inherent in the organizations:manager, risk-bearer(owner), and policyholder. Stock insurers are characterized by the potentially complete separation of all three functions while mutual insurers merger the policyholder with the ownership function. Doherty and Dionne(1993) and Doherty(1991) concentrate their analysis on differences in the efficiency of risk sharing between participating and non-participating policies. They argue that when the undiversifiable risk has higher portion in business risk, combining policy and equity claims into a single package is a more efficient risk-sharing contract than a simple prepaid risk-transfer. Among various methods for assembling the policy/equity package, Doherty and Dionne(1993) and Doherty(1991) suggest that policy/equity package offered by the mutual is the most efficient risk-sharing arrangement. There has been a controversy on the property of participating policies sold by life insurance corporations in Korea. Some scholars argue that participating policyholders of Korean life insurance companies have shared the cashflow risk with shareholders. They emphasize that insurance firms have used dividend reserves to supplement for equity deficits. Thus, they argue that the economic entities of Korean life insurance companies are mutual companies though their legal entities are corporations. Our article explicitly sets up each stakeholder's cashflow claim in stock and mutual insurers, and thus identify risk differences in shareholder and policyholder. Using our model, we could derive direct implications on the controversy. Our model shows that life insurance companies would sell participating policies since policyholders would have the incentive to share the risk inherent in their primary claims with equityholders. And there exists a fundamental difference in shareholder's risk and equityholder's.

• The Korean Journal of Air & Space Law and Policy
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• v.33 no.2
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• pp.367-418
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• 2018

Just as safety is the most important thing in aviation, safety is the most important in the operation of unmanned aircraft (RPA), and safety operation is the most important in the legal responsibility of the operator of the unmanned aircraft. In this thesis, the legal responsibility of the operator of the unmanned aircraft, focusing on the responsibility of the operator of the unmanned aircraft, was discussed in depth with the issue of insurance, which compensates for damages in the event of an accident First of all, the legal responsibility of the operator of the unmanned aircraft was reviewed for the most basic : definition, scope and qualification of the operator of the unmanned aircraft, and the liability of the operator of the Convention On International Civil Aviation, the ICAO Annex, the RPAS Manual, the Rome Convention, other major international treaties and Domestic law such as the Aviation Safety Act. The ICAO requires that unmanned aircraft be operated in such a manner as to minimize hazards to persons, property or other aircraft as a major principle of the operation of unmanned aircraft, which is ultimately equivalent to manned aircraft Considering that most accidents involving unmanned aircrafts fall to the ground, causing damage to third parties' lives or property, this thesis focused on the responsibility of operators under the international treaty, and the responsibility of third parties for air transport by Domestic Commercial Act, as well as the liability for compensation. In relation to the Rome Convention, the Rome Convention 1952 detailed the responsibilities of the operator. Although it has yet to come into effect regarding liability, some EU countries are following the limit of responsibility under the Rome Convention 2009. Korea has yet to sign any Rome Convention, but Commercial Act Part VI Carriage by Air is modeled on the Rome Convention 1978 in terms of compensation. This thesis also looked at security-related responsibilities and the responsibility for privacy infringement. which are most problematic due to the legal responsibilities of operating unmanned aircraft. Concerning insurance, this thesis looked at the trends of mandatory aviation insurance coverage around the world and the corresponding regulatory status of major countries to see the applicability of unmanned aircraft. It also looked at the current clauses of the Domestic Aviation Business Act that make insurance mandatory, and the ultra-light flight equipment insurance policy and problems. In sum, the operator of an unmanned aircraft will be legally responsible for operating the unmanned aircraft safely so that it does not pose a risk to people, property or other aircraft, and there will be adequate compensation in the event of an accident, and legal systems such as insurance systems should be prepared to do so.

• Journal of Technologic Dentistry
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• v.10 no.1
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• pp.25-41
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• 1988

In order to provide the National Dental Health Program with dasic data, and to implove the laborartory managent style, the author studied the operational situations of dental lads through questionaire. The results are as follows, 1. Unlicensured personnel should be replaced by the licensured(from present rate lf 49.2% licensured to more than80%) 2. Minimum wage guarantee system as well as well as oage raise should be established. 3. Monthly balancing accounts system and bepreciation reserve accounts system should be established for the reasonable management. 4. Manufacturing period should be elongated from presnt 2.8 days to 5-7 days for quality betterment of the processes. 5. Medical insurance system should be applied to the dental processes. 6. Manufacturing cost should be increased by 35%. 7. Retirement grants lr retirement annuity system, improvement of occupational environ-ment, and holidays incentives, and participation in medical insurance system should be adopted for the wellfare of the dental technicians. 8. Laboratory managers should operate the lads with pride and valuation. 9. Business Management course should be included in the curriculum of the dental labo-ratory school. 10. Good relationship between Korean Association of Dental Laboratory Technicians and local laboratories shorld be improved.

• Communications for Statistical Applications and Methods
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• v.9 no.1
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• pp.271-280
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• 2002

Recently, many companies have applied data mining techniques to promote competitive power in the field of their business market. In this study, we address how data mining, that is a technique to enable to discover knowledge from a deluge of data, Is used in an executed project in order to support decision making of an enterprise. Also, we develope scoring model on customer attrition probability for automobile-insurance company using data mining techniques. The development of scoring model in domestic insurance is given as an example concretely.

• 한국IT서비스학회:학술대회논문집
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• 2008.11a
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• pp.112-115
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• 2008

CRM is one of fields that come into the spotlight in academic circles. A Marked changes of business environment makes it get a various information about competitive products unlike in the past and makes it understand the customer needs. Also, Market boundary become to be uncleared. Insurance industry is lied in the age of limitless competition due to uncleared market boundary. Channels for getting customer information and understandings become to be various. In this study, we collect the customer information using various channel and we analyze out a primary factor. Using this results, we present the method that cluster target customers. It is the object of this paper that analyze out the effects when we execute the One-to-One-Marketing using clustered target customer based customer pattern.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.32 no.2
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• pp.158-170
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• 2009

This paper considers how the optimal export level is influenced by export risk, the degree of risk-averseness for exporting firms, and those firms' cost structure. In addition, export insurance is incorporated into some simple theoretical model to analyze the optimal export level. This paper applies genetic algorithm simulation to show that the exporting firms'risk-averseness do not affect the optimal export decision while export risk and cost function characteristic have relatively more significant effects on the optimal export level. Finally, our findings suggest that the most influential factor for the optimal export levels seems to be the monopoly power of exporting firms.

• Journal of the Korea Safety Management & Science
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• v.12 no.3
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• pp.73-79
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• 2010

Currently, in Korea, an accident that takes place during a worker's commuting is generally not considered as work-related accident. However, there are several exceptions such as an accident that occurs in commuting while using transportation provided by an employer, an accident that happens during commuting time that can be regarded as part of a business activity (e.g. tending to work instructed by an employer on the way to or from work), and an accident that is caused by insufficient facility management by an employer. It is even more so as the workers' commuting distance increases with expanding scale of a city, and traffic accident occurs more frequent. Social risk of commuting-time accident is on the rise. Under this circumstance, it is an important social issue to explore how to protect workers from commuting-time accident.

• Proceedings of the Korea Inteligent Information System Society Conference
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• 2005.05a
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• pp.274-282
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• 2005

Customer retention is one of the major issued in life insurance industry, in which competition is increasingly fierce. There are many things to do to retain customers. One of those things is to be continuously in touch with all customers. The objective of this study is to design the contact scheduling system(CSS) to support the planers who must touch the customers without having subjective information. Support-planers suffer from lack of information which can be used to intimately touch. CSS that is developed in this study generates contact schedule to touch customers by taking into account existing contact history. CSS has a two stage process. In the first stage, it segments customers according to his or her demographics and contract status data. Then it finds typical pattern and pattern is combined to business rules for each segment. We expert that CSS would support support-planers to make uncontacted customers' experience positive.

• Proceedings of the Korea Institute of Fire Science and Engineering Conference
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• 1997.11a
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• pp.610-616
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• 1997

One of the notable changes in Korean Industry in 1990's was globalization. Many of Korea plants have been built In the foreign countries and many of foreign plants have been build in Korea. And it is believed that many foreign insurance companies will begin their business in Korea soon, as Korea will open their insurance market to them. While sprinkler system plays very important role in total fire protection system, Korean sprinkler system design has not been studied in depth. Thus, it is not easy to convince the performance of Korean sprinkler system and compare it to NFPA 13, Standard for the Installation of Sprinkler System. Design guideline from both system will be listed and compared in detail. Fire water demand from both system will be reviewed to evaluate its adequacy. Water spray density and actuation time will be estimated, too.

• Land and Housing Review
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• v.8 no.2
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• pp.83-89
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• 2017

Otemachi(大手町) is the region where it plays a pivotal role in Japanese economy as representative head offices of companies including financial insurance, general trading, information and communication newspaper media are concentrated. However, regenerating the entire region from worn-out infrastructures of buildings and city into the fresh and vibrant foothold in international business was the problem to be solved. In this situation, was examined on the basis of administrative agencies and relevant enterprises to reconstruct office buildings in phases without ceasing business functions and activities by utilizing the large-scale vacant land occurred from the relocation of the national public institutions. The independent administrative institution 'Urban Renaissance Agency(UR)' has completed the examination of industrialization and participation request for the commencement of the project. In this article, The overview of , the new form of project promoted and cooperated by officials and people, is introduced by UR (Urban Renaissance Agency) reorganizing the land exchange and infrastructure through the land readjustment project, and at the same time, procuring capital and building office buildings in solidarity with private development enterprises and financial institutions.