• 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 Data and Information Science Society
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• v.26 no.6
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• pp.1523-1535
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• 2015

We investigate the effect of introduction of the bancassurance system on cost efficiency in the Korean insurance industry between 1997 and 2012. Our estimation results indicate that introduction of this system contributed positively to efficiency of life insurance companies in Korea. Increase in a one standard deviation of bancassurance increases cost efficiency by 0.08 which is equivalent to 12 percent of mean cost efficiency. Recognising that the bancassurance system is a relatively new concept, our results indicate that the bancassurance system can be a policy measure to improve productivity in an emerging insurance market. The results illustrate that positive effects have accrued particularly to medium-sized companies and domestic companies, contrary to the prevailing perception that increased competition through bancassurance is more beneficial to large companies and foreign companies.

• 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.

• The Journal of the Korean life insurance medical association
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• v.12
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• pp.50-55
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• 1993

After a short historical resume, screening is discussed on the basis of the current philosophy of Life insurance compaines in leading countries. This is followed by considerations with regard to the future in areas of major bearing on Life insurance screening which have emerged as important within the last decade. HIV-antibody testing is dealt with from the screening point of view followed by aspects regarding the applicability of tumour marker use in Life insurance medicine. Last but not least genetic testing will be addressed, taking into account prospects for the future, as well as the resulting responsibility in medical and underwriting terms. The major considerations and suggested guidelines can be summarized as follows: 1) Screening in Life insurance is a prerequisite for underwriting and is a well-functioning selection instrument. 2) Screening technologies are medically well defined and have to follow general clinical rules, also in the future. 3) Screening parameters should follow the patterns of diseases according to age and risk groups. 4) Screening parameters for prognostic use are legitimate as long as they are considered in conjuction with clinical medical observations and rules. 5) Screening technologies of a sensitive nature require very special rules for handling in the sense of "consequential ethies". 6) Screening parameters like HIV-antibody testing require ongoing scientific feedback in their new testing dimensions. 7) Screening in the form of genetic testing is as yet not used in Life insurance; its potential future role in Life insurfance medicine must, however, be discussed responsibly and in time. 8) Screening enables the insurance industry to rule out possible antiselection and provide for equal knowledge on the part of the insurance applicant and the insurer about impairements which shorten life expectancy. 9) Screening, informed consent, counselling and confidentiality must go hand in hand both now and to an even greater extent in the future.

• Journal of Korean society of Dental Hygiene
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• v.13 no.4
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• pp.561-568
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• 2013

Objectives : The purpose of this study is to examine the recognition and needs on the national health insurance coverage of scaling in industry accident injury patients. National health insurance coverage of dental scaling will start in September, 2013. Methods : Subjects were 649 industrial injury patients and they completed self-reported questionnaire. Data were analysed using SPSS version 20.0 for percentage, chi-square test, t-test, ANOVA, post-hoc Scheffe test, and Pearson's correlation coefficient. Results : Recognition on national health insurance coverage of dental scaling was not fully known to industrial injury patients (24.5%). Highly educated and high income workers seemed to recognize national health insurance coverage of dental scaling (p<.001). Recognition for national health insurance coverage of dental scaling revealed a significance (r=.576, p<.001). Most of the industrial injury workers thought that 50,000 to 100,000 Korean Won of dental scaling fee is reasonable. The coverage of dental scaling should be more than twice over 20 years old. Conclusions : It is necessary to encourage the patients to take regular dental scaling checkup and make them know the health insurance coverage of scaling. The preventive oral health care may improve oral health care and quality of life.

• The Journal of the Korea Contents Association
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• v.8 no.5
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• pp.192-206
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• 2008

With many changes such as the increase in telemarketing, internet marketing and enforcement of bancassurance, the Korean life insurance companies have undergone a startling transformation. The purpose of this paper is to measure and analyse the static/dynamic efficiency of Korean life insurance companies employing Data Envelopment Analysis(DEA). As the result of the static efficiency analysis, we provide CCR, BCC and scale efficiency, return to scale, and reference set of Korean life insurance companies in 2004. And we also describe about the trend and stability of their efficiency for 7 years(1998-2004) in the dynamic efficiency analysis.

• The Korean Journal of Financial Management
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• v.20 no.2
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• pp.263-291
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• 2003

The purpose of this paper is to analyse the change in the productivity of Korean life insurance industry by Generalized Malmquist productivity indices. Generalized Malmquist indices will be decomposed into three components such as pure efficiency change, scale efficiency change, and technical change. The principal findings indicate an overall increase in productivity driven more by technical progress than pure technical efficiency and scale efficiency.

• Communications for Statistical Applications and Methods
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• v.18 no.1
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• pp.119-130
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• 2011

This paper measures and analyzes the performance of insurance companies in Korea in respect to sustainable development and suggest strategic implications based on the analysis. The correlation, regression, ANOVA, and t-test are employed. The results of this study are summarized as follows. First, it shows tat social index is important in the life insurance industry; however, the environmental index, is important in the non-life insurance industry. Second, the result gained by regressing the size and financial soundness on the performance of sustainable development demonstrates that the size variable is statistically significant. It suggests that size is a necessary condition for sustainable development. Finally, ANOVA shows that the small and medium sized companies have a significantly poor performance compared to the large companies concerning the social index and reputation index in the life insurance industry. The small and medium sized companies in the non-life insurance industry exhibit a significantly poor performance compared to the large companies in respect to all the indexes, except for the social index. Therefore, the small and medium sized companies make every endeavor in the poor indexes to improve performance.

• The Journal of the Korean life insurance medical association
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• v.2 no.1
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• pp.122-127
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• 1985

The basis for determining hearing disturbance adopted by the Life Insurance Industry is the loss of hearing power above 80 db on either or both sides, in accordance with the divide sixth method of audiometric test. Different types of small-to-medium-sized enterprises were chosen for the study of the extent of loss and the power of hearing. The following are the findings: 1. The disturbance percentage found among the types of occupation and different levels of age was found to be higher as the subject's ages increased. 2. The heavier the workload and the noisier the environment, the higher the percentage of disturbance. The average percentage of the subjects turned out to be 24.35%. Those engaged in sawing and wood-work showed 49%. Those engaged in machinery and equipment for transportation accounted for 42.6%. Those engaged in the metal products occupied 39.6%. The disturbance percentage among those engaged in such noisy works as press, pipe and sawing showed 32.52%. 28.46% of those workers with three to four years employment turned out to be disturbed in hearing. Of these, a high percentage of 43.9% showed disturbance in conversation or talk. 3. No hearing loss due to occupation beyond the Life Insurance standard of 80 db was found; therefore, the present status poses no problem. Constant attention, however, is needed.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.17
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• pp.93-125
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• 2002

This paper aims to find a reasonable solvency margin system in non-life insurance industry and also to evaluate the appropriateness of the current solvency margin regulation system in Korea. The current solvency margin system in Korea, based on EU's solvency margin model, was introduced during the 1997 financial crisis. The solvency requirement is not based on non-life insurer's risk, but simply on written premiums. The current solvency margin for general insurance, such as fire, marine, and automobile insurance, is determined by the greater between a premium-based amount and a claim-based amount, where the premium-based solvency margin is calculated by multiplying the net written premium for the preceding year by the premium based solvency margin ratio. Also, the amount of solvency margin for long term insurance is set at 4% of the policy reserve of the long term insurance. Still, there exist many differences between the current solvency margin regulation system in Korea and EU's model. This paper focuses on the rationality of the solvency margin regulation system, and compares the current system in Korea with EU's model and the RBC(Risk Based Capital) system in U.S. and Japan. Finally, this paper suggests a more specific and reasonable solvency margin system to be developed in Korea.