• International Commerce and Information Review
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• v.7 no.3
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• pp.27-51
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• 2005

Todays, computers in business world are potent facilitators that most companies could not without them, while they are only tools. They offer extremely efficient means of communication, particularly when connected to Internet. What I stress in this article is the risks accompanied by e-commerce rather than the advantages of Internet or e-commerce. The management of e-commerce companies, therefore, should keep in mind that the benefit of e-commerce through the Internet are accompanied by enhanced and new risks, cyber risks or e-commerce risks. For example, companies are exposed to computer system breakdown and business interruption risks owing to traditional and physical risks such as theft and fire etc, computer programming errors and defect softwares and outsider's attack such as hacking and virus. E-commerce companies are also exposed to tort liabilities owing to defamation, the infringement of intellectual property such as copyright, trademark and patent right, negligent misrepresent and breach of confidential information or privacy infringement. In this article, I would like to suggest e-commerce insurance or cyber liability insurance as a means of risk management rather than some technical devices, because there is not technically perfect defence against cyber risks. But e-commerce insurance has some gaps between risks confronted by companies and coverage needed by them, because it is at most 6 or 7 years since it has been introduced to market. Nevertheless, in my opinion, e-commerce insurance has offered the most perfect defence against cyber risks to e-commerce companies up to now.

• International Commerce and Information Review
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• v.9 no.2
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• pp.41-64
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• 2007

A life insurance industry's market is reaching a state of saturation recently, and the competition is as time goes by intense among the non-life insurance industry. Consequently, the insurance companies must grope a new source of revenue and develop a new business model for a stability growth. At the forked road, the insurance companies must group the existing and new customers in order to find the royal customers, and develop a new service with them. Accordingly, it is the time to study the advance of PB field and the royal customer management that will maintain and expand the new relations with them. Besides, the PB was the service to begin in needs of the specific group, but now it is regarded as a new source of high profit in the age of universal financial service among the financial circles. As a consequence, the PB marketing is introduced in haste, and such trend seems to be continued. Therefore, the plans that help the domestic insurance company reflect the characteristic of the insurance and expand the scope of business into the scope of property management according to the needs of customers under a universal financial service trend will be studied.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.4
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• pp.213-228
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• 2022

This paper investigates the association between key corporate governance characteristics and the performance of general insurance businesses listed on the Saudi stock exchange (TADAWUL). The methodology for the study is based on a pooled data collection for 11 Saudi general insurance companies from 2011 to 20. The linear regression model and the logarithm regression model are suggested to assess the relationship between performance and corporate governance characteristics. The dependent variable is firm performance measured using ROA, ROE, and Tobin's Q. The independent variables are corporate governance variables consisting of a complete set of board and audit committee characteristics. Insurer-specific control variables are introduced. The empirical results reveal that the characteristics of corporate governance influence the performance of insurance companies. In particular, the board size, board's tenure, the proportion of independent directors in the board, audit committee size, audit committee meeting frequency, and proportion of health insurance premiums have a positive impact. However, audit committee independence, size of the company, and proportion of reinsurance premiums have a negative impact on the performance of the Saudi general insurance companies. Finally, the empirical results indicated also that there is an unclear relationship between the performance and board meeting frequency, compensations of the Board, and the average age of the Board.

• Journal of the Korea Safety Management & Science
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• v.15 no.4
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• pp.393-399
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• 2013

The purposes of this study were to seek beauty industry parts' current social insurance admission status. To achieve the purposes, questionnaire was distributed to a total of 470 beauty artists and data were analyzed by statistical analysis. The result of study proposed that hairdresser showed the highest awareness and field of nail art showed the lowest awareness in social insurance admission status. Social insurance admission status shows that beauty artists in hair field had the most applicants of national pension, health insurance, workers' compensation insurance and beauty artists of skin field had the highest desire for social insurance application. This study hopes to be used as base line data of social insurance applicants' accurate status and application.

• The Korean Journal of Franchise Management
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• v.15 no.3
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• pp.1-15
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• 2024

Purpose: The insurance market is steadily growing, with General Agencies (GA) experiencing rapid sales increases. GAs need marketing strategies to boost contract renewal intentions by effectively managing customer relationships. This study examines the impact of perceived customer orientation and sales orientation on customer trust, identification, and renewal intentions with GA insurance planners. Research design, data, and methodology: The study surveyed customers who subscribe to insurance products from GA-affiliated insurance planners. Out of 615 respondents, 251 valid responses were analyzed using frequency analysis, measurement models, and structural equation modeling (SEM) with SmartPLS 4.0. Result: The study revealed that customer orientation positively affects cognitive trust and sense of identification. In contrast, sales orientation did not significantly impact customer trust or identification. Additionally, customer trust positively influences sense of identification, and both trust and identification positively affect the intention to renew the contract. Conclusions: Implementing a customer-oriented marketing strategy is essential for providing tailored customer management services and maintaining or improving the quality of customer relationships for insurance planners. Given that insurance products require long-term management, it is crucial for planners to build trust, enhance customer identification, and offer continuous customer management to meet customers' needs effectively.

• Korea Trade Review
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• v.45 no.3
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• pp.133-146
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• 2020

In the UK's the insurance law 2015, a remedy for breach of warranty in marine insurance was introduced. Also, if the insured proves that breach of warranty in marine insurance does not affect damages, the insurer pays the insurance money to the insured. The UK's marine insurance law has served as the governing law that has been the standard for the marine insurance industry for a long time. Korea and China were heavily influenced by the UK maritime insurance law. Therefore, this study analyzed the cases of breach of warranty in marine insurance in Korea and China. Through this, the insurer avoid the insurance contract for an accident that occurred after the breach of warranty. this result will be different under the new revised insurance law system. With the revision to The Insurance Act 2015, one of the biggest change in the insurance system is that it is possible to remedy of the violations of warranty. However, such a revision of the law requires considerable attention as it also changes the interpretation and judgment of the courts. Accordingly, a practical response of the insurance industry is required. It is necessary to prepare for possible disputes in practice.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.27
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• pp.99-127
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• 2005

This research can be summarized as follows: a. It provides the means how to manage risks in the electronic commerce with a focus on the insurance by which to transfer the risks to the third person. b. Since there are few preceding studies on the insurance of electronic commerce, further studies on the insurance stipulations about coverage and exclusions are needed. c. The risks in the electronic commerce are critical to the businessmen and the insurance can protect them from the perils and activate the electronic commerce. d. Inter-governmental and inter-organizational cooperations are needed to enact the unified international insurance clause. Researches on the electronic insurance should be vitalized for more objective analysis. A positive study needs a close survey on the individual and the business concerned, the insurance company, and the policy authorities, which will make it possible to adjust the coverage and exclusion and assess an optimum insurance rate.

• International Journal of Contents
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• v.4 no.3
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• pp.1-9
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• 2008

The Korean life insurance industry has undergone profound changes, such as the beginning of the variable insurance in July 2001 and the bancassurance enforcement in August 2003. However, little empirical research has analyzed data that includes the bancassurance of life insurance companies operating in Korea. In response to this lack of research, this paper applies DEA (data envelopment analysis) models to measure and decompose their efficiency. We discovered that life insurance companies operating in Korea are a little different in their composition ratio of inputs and outputs, due to the increased variety of distribution channels and new products. We provided efficiency scores, return to scale, and reference frequencies. We also decomposed CCR, BCC, and SBM efficiency into scale efficiency and MIX efficiency. So, we try to investigate whether the sources of inefficiency were caused by the inefficient operation of DMU, disadvantageous conditions, the difference of the composition ratio in inputs and outputs with reference sets, or any combination of the above. Most companies in the sample display had either constant or decreasing returns to scale. The efficiency rankings were less consistent among models and efficient DMUs. In response to this problem, we used the super-efficiency model to rank them and then compared the rankings of the DMUs among the various models. It was also concluded that the availability of panel data, rather than cross-sectional data, would greatly improve the validity of the efficiency estimates.

• Journal of the Korean Data and Information Science Society
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• v.24 no.6
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• pp.1503-1520
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• 2013

For multi-line insurance companies, allocating the risk capital to each line is a widely-accepted risk management exercise. In this article we consider several applications of the Euler capital allocation. First, we propose visual tools to present the diversification and the line-wise performance for a given loss portfolio so that the risk managers can understand the interactions among the lines. Secondly, on theoretical side, we prove that the Euler allocation is the directional derivative of the marginal or incremental allocation method, an alternative capital allocation rule in the literature. Lastly, we establish the equivalence between the mean-shortfall optimization and the RORAC optimization when the risk adjusted capital is the expected shortfall, and show how to construct the optimal insurance business mix that maximizes the portfolio RORAC. An actual loss sample of an insurance portfolio is used for numerical illustrations.

• Journal of Distribution Science
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• v.19 no.5
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• pp.35-48
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• 2021

Purpose: This research aims to analyze the influence of relational penetration capability on salesperson performance and the influence of customer orientation, customer knowledge accessibility, and salesperson-customer relationship quality on the relational penetration capability of the insurance service industry in Central Java. Research design, data, and methodology: This explanatory research involved 211 respondents. Path analysis was used to analyze the primary data obtained. Results: The customer orientation positively influences relational penetration capability and customer knowledge accessibility which can improve salesperson performance. The salesperson-customer relationship quality shows a positive impact on the salesperson's relational penetration capability, salesperson performance, and relational penetration capability which will lead to an improved salesperson-customer relationship. Higher knowledge levels of customer necessity have important implications for a salesperson's capability of finding potential customers and of fulfilling customers' requirements through careful analysis of necessity. Conclusions: The salespeople should be capable of building and maintaining a good relationship with their customers as an indication that salespeople of Insurance Service Company Distribution in Central Java have good performance.