• 통상정보연구
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• 제9권3호
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• pp.151-160
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• 2007

The purpose of this study is to estimate the risk premium hedge ratio in foreign exchange risk of the foreign exchange rate insurance. The applicants of exchange rate insurance and Korea Export Insurance Corporation will be facing the risk in change of currency and guaranteed currency’s swap point upon contract being made. Also upon making decision of hedging exchange rate insurance, the company will need to be aware of the risk causing due to change in swap point.

• Journal of Korea Trade
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• 제23권5호
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• pp.87-101
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• 2019

Purpose - This paper examines the effectiveness of the foreign exchange risk insurance system in the promotion of SME exports in Korea. The purpose of this study is to analyze the short-term and long-term responses of SME exports to foreign exchange risk insurance support policies. Based on these empirical studies, we would like to present some operational improvements to the operation of the foreign exchange risk insurance system. Design/methodology - In order to analyze the effect of exchange risk insurance on the exports of SMEs, a VAR model consisting of foreign exchange risk insurance underwriting values, export relative price, and domestic demand pressure, including export volume, was established. The study began with tests of the stationarity of time series data. The unit root tests showed that all concerned variables were non-stationary. Accordingly, the results of the cointegration test showed that the tested variables are not cointegrated. Finally, an impulse response function and variance decomposition analysis were conducted to analyze the impulse of foreign exchange risk insurance on exports of SMEs. Findings - As a result of estimating the VAR (1) model, foreign exchange risk insurance was found to be significant at a 1% significance level for SME' export promotion. In the impulse response analysis, SMEs' export response to the impulse of foreign exchange risk insurance showed that exports gradually increased until the third quarter, and then slowed down. However, the impulse did not disappear, and appeared continuously. Originality/value - This study analyzed the effect of foreign exchange insurance on exports of SMEs by applying the VAR model. In particular, this study is the first to analyze the short-term and long-term effects of foreign exchange risk insurance on exports of SMEs. The empirical evidence in the current study have a policy implication for the policy authority to support and promote the foreign exchange risk insurance in the effect of exchange rate volatility on Korea' export SMEs.

• Journal of the Korean Society for Industrial and Applied Mathematics
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• 제16권2호
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• pp.137-149
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• 2012

We propose an efficient method to measure the insurance risk of causality insurance companies by using the CreditRisk+ methodology. This method is superior to previous methods in several aspects. Its computation speed is very fast and the input data form is simple. It is able to aggregate both credit risk and insurance risk, so the insurance company can manage the risk in combined manner. In this paper, we propose a mathematical method to obtain the aggregate loss distribution of portfolios having correlation among products or business lines as a general case, and then suggest its implementation algorithm. Finally we apply this method to the real data from Korea Insurance Development Institute (KIDI) and discuss its availability to real applications.

• 보험의학회지
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• 제15권
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• pp.141-147
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• 1996

• 보험의학회지
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• 제27권2호
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• pp.85-95
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• 2008

When an insurance company receives an application for life or health insurance, the company must evaluate the degree of risk the individual for insurance coverage presents before the company agrees to issue the policy. A medical factor is a physical or psychological characteristic that may increases a hazard. A financial factor is financial information that is taken into account by underwriter to determine if a person is applying for more than he/she reasonably needs or can afford. A personal factor is a lifestyle choice. There are several medical risk selection systems in Korean life insurance market. They are attending physician's statement, direct examination by insurance doctors, and paramedic examination. However there is some dissatisfaction of current system. It is possible that cooperation of part-time insurance doctors system may be one of useful system of medical risk selection. Improvement of medical risk selection system will be an important matter of profitability of insurance company and it will contribute to sound life insurance system.

• Journal of health informatics and statistics
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• 제43권4호
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• pp.318-328
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• 2018

Objectives: People are living longer, but often with diseases or chronic conditions. As a consequence, interest in resolving insurance blind spots is growing. This study provides substandard risk-relevant statistics to help substandard risks who are likely to fall in insurance blind spots obtain insurance coverage, such as the reimbursement of medical costs, as well as to stimulate insurance product development. Methods: This study uses National Health Insurance Service (NHIS) cohort data to determine the relevant statistics. The incidence rates of severe diseases are derived and compared against standard risks to establish a set of relative risk factors. These incidence rates of standard and substandard risks are then compared. Results: Currently, an individual's cancer history is used in the underwriting process for simplified issue insurance. However, underwriting focusing on hospitalization and procedures related to serious illnesses could lower premiums for substandard risks. Moreover, the statistical results could be used to expand the coverage of health insurance products. Conclusions: This study's relative risk factors can be used to derive simplified issue premium rates for substandard risks. They can also be used to implement discount and loading schemes for medical reimbursement insurance and help insurance companies implement proactive risk management.

• 통상정보연구
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• 제9권3호
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• pp.205-229
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• 2007

This study analyzed relation with risk recognition degree by customs business of customs brokers and actuality insurance accident occurrence. These study finding that risk recognition by customs work area of customs brokers and actuality insurance accident occur did not agree. So customs brokers more elevate risk recognition of entry field, origin/trademark right, HS and customs tariff application, customs refund, price estimation that are high the insurance accident rate. and they may have to do emphasis administration through employee education and ability elevation. Specially, operation risk that is produced from charge employee's simplicity mistake who tax invoice omission, a tax use mistake, document nondelivery, notice dispatch delayed action, may have to manage through moral management and employee bylaws and education, employee guidance etc. Also, they publicize these contents to import and export enterprise, and practice risk management of high risk business in priority through education and public information. so we will have to make can do more effective risk management.

• 한국중재학회지:중재연구
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• 제15권3호
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• pp.267-301
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• 2005

Following the increased economic corporations between the South and North Korea, many companies participate the corporation program. They needs insurance policy as a scheme for the transfer of risk from those individual company to it to an insurer. This paper review the possibility of the North Korea insurance authorities and research the origin, history, structure and context of the North Korea insurance law. The North Korea Insurance law differ from the South Korea and China's. North Korea Insurance authority has not capability of doing insurance business both side of underwriting and indemnity. Partly, it caused the uncertainty, insufficient and vague of the insurance law. The writer conclude that the North Korea insurance law faced to the needs of modernization. Especially, the Gyesung Industrial Complex Insurance Regulation couldn't cover the investor and company's risk because it is not based on the nature and basic principles of insurance.

• 정보보호학회논문지
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• 제27권5호
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• pp.1233-1245
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• 2017

지능정보사회를 선도하는 핵심 기술이자 서비스인 사물인터넷의 초연결성으로 인해 사이버리스크가 급증하면서 사이버리스크의 전가(Risk transfer)를 통해 경영환경의 안정성을 높이는 새로운 위험관리 방안으로 사이버보험(Cyber insurance)이 주목받고 있다. 그러나, 사이버보험은 아직 국내에서는 비교적 생소한 개념이다. 이에 본 연구에서는 국내 상황에서 우선적으로 요구되는 보장사항을 도출하여 국내 수요에 적합한 사이버보험의 개념을 제안하고자 하였다. 연구 결과 사이버보험의 수요자들은 사업손실과 배상책임에 가장 많은 필요성을 보이고 있는 것으로 나타났다.

• Industrial Engineering and Management Systems
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• 제12권1호
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• pp.46-50
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• 2013

In insurance statistics, the sum of homogeneous insurance is often needed. The sum is called individual risk model which is a fundamental model in risk analysis for insurance. This paper first presents an individual risk model based on the uncertainty theory. Then its uncertainty distribution is provided. Finally, its arithmetic is shown by a numerical example.