Insurance companies are grappling with the rising frequency and severity of extreme weather-related flooding events, which currently pose the highest financial burden both in total and per individual case. The existing insurance model isn't economically sustainable if such events continue to increase. To assess future needs and challenges in flooding insurances, research on changing weather patterns and interviews with employees at major firms were conducted. The research indicates that climate change has and will further worsen extreme rain events in Sweden, leading to more frequent and intense flooding events. Interviews revealed that firms are aware of impending changes in the insurance industry due to climate change but lack proactive measures to address them. Responsibility is fragmented, and communication between stakeholders is suboptimal. To address these challenges, I look at recent research regarding flood risk assessment and if these are applicable for the insurance industry in Sweden to ensure future profitability.

Context: The main topic of the study - sustainable supplier evaluations in the insurance industry, is evaluated by looking at opportunities for improvement in the study´s main company, and then based on these shortcomings identify and propose areas of improvement. These areas concern a development of overall criterias within the insurance industry as well as within a business-specific part, in this case workshops. These criterias are then applied in the quantitative method TOPSIS where ranking of suppliers is carried out. Based on this ranking, companies can make sustainable supplier choices of either already existing or new suppliers. Purpose: The study aims to identify potentials in Länsförsäkring Kronoberg´s current evaluation of suppliers regarding workshops . This study produces new overall sustainability criteria within the insurance industry as well as a number of business-specific criteria which are applied in an existing model for supplier evaluation. The goal is for the results to be applicable to other companies in the insurance industry, which is based on the study´s second question. Method: This qualitative case study is based on a deductive approach. Theory and empirical evidence have mainly been taken from scientific articles, but also literary sources, interviews and websites. The selection of respondents has been carried out in a strategic way and a targeted selection has been used.  Results: Possibilities for improvement identified in Länsförsäkring Kronobergs´current supplier evaluation regarding workshops are based on identified potentials regarding lack of clarity and a comparison problem. Based on newly developed criteria implemented in the TOPSIS method, there is greater clarity in what the supplier needs to work on to increase its sustainability rating. With the results of this study it is possible to make simple comparisons between suppliers on all of the criterias´. In addition to this, the result of the study provides a grade that differentiate the suppliers by using decimals, which were previously missing and therefore led to a large part of the suppliers being on the same grade. Contribution: The study contributes to a more transparent and comparable supplier evaluation based on all aspects of sustainability and can be further applied within the insurance industry, which in the near future will be under greater pressure regarding sustainability. Other companies that want to develop their supplier evaluation can also take advantage of the results of this study to implement overall criteria in their own operations and put together their own experts who will identify business-specific criteria for their particular business. The method of developing and applying criteria in TOPSIS can be replicated, but the authors of the study suggest that companies outside the insurance industry create their own appropriate criteria. / Kontext: Studien berör ämnet hållbara leverantörsutvärderingar inom försäkringsbranschen. Detta genom att först och främst se till förbättringsmöjligheter hos studiens fallföretag, för att sedan med grund utifrån dessa möjligheter finna förbättringsåtgärder. Förbättringsåtgärderna som föreslås är ett framtagande av övergripande kriterier inom försäkringsbranschen samt inom en verksamhetsspecifik del i form av verkstäder. Dessa kriterier appliceras sedan i den kvantitativa metoden TOPSIS där rangordning av leverantörer genomförs. Utifrån denna rangordning kan företag göra hållbara leverantörsval av antingen redan befintliga eller nya leverantörer. Syfte: Studien syftar till att identifiera och finna lösningar på de potentialer som identifierats inom Länsförsäkring Kronobergs nuvarande utvärdering av deras verkstadsleverantörer. Denna studie tar fram nya övergripande hållbarhetskriterier inom försäkringsbranschen samt ett antal verksamhetsspecifika kriterier som sedan appliceras i en befintlig modell för att få fram en leverantörsutvärdering av verkstäder. Målet är att resultatet ska vara tillämpbart på övriga bolag inom försäkringsbranschen, vilket grundas i studiens andra frågeställning. Metod: Denna kvalitativa fallstudie bygger på ett deduktivt angreppssätt. Teori och empiri har främst hämtats från vetenskapliga artiklar, men även litterära källor, intervjuer och webbsidor. Valet av respondenter har genomförts på ett strategiskt sätt och ett målstyrt urval har använts. Resultat: Förbättringsmöjligheter som identifierats i Länsförsäkring Kronobergs nuvarande leverantörsutvärdering gällande verkstäder tar sin grund i otydlighet samt en jämförelseproblematik. Utifrån nya framtagna kriterier som implementerats i metoden TOPSIS, har en större tydlighet i vad leverantören behöver arbeta med för att öka sitt hållbarhetsbetyg. Numera är det möjligt att göra enkla jämförelser mellan leverantörer på respektive kriterium. Utöver detta landar resultatet av studien i ett betyg som faktiskt skiljer leverantörerna åt med hjälp av decimaler, som tidigare saknats och därför lett till att en stor del av leverantörerna legat på samma betyg. Bidrag: Studien bidrar till en mer transparent och jämförbar leverantörsutvärdering utifrån samtliga hållbarhetsaspekter och kan appliceras vidare inom försäkringsbranschen, som inom en snar framtid kommer att vara med om ett högre på att redovisa hållbarhet. Även övriga bolag som vill utveckla sin leverantörsutvärdering, kan ta del av denna studiens resultat för att implementera övergripande kriterier på egen verksamhet samt ta fram egna experter som identifierar verksamhetsspecifika kriterier för just deras verksamhet. Metoden i att ta fram och applicera kriterier i TOPSIS går att replikera, men studiens skribenter föreslår att branscher utanför försäkringsbranschen skapar egna passande kriterier.

The thesis examines technical efficiency using frontier efficiency estimation techniques from parametric and non-parametric approaches. Five different frontier efficiency estimation techniques are considered which are SFA, DFA, DEA-CCR, DEA-BCC and DEA-RAM. These techniques are then used on an artificially generated panel dataset using a two-input two-output production function framework based on characteristics of German life-insurers. The key contribution of the thesis is firstly, a study that uses simulated panel dataset to estimate frontier efficiency techniques and secondly, a research framework that compares multiple frontier efficiency techniques across parametric and non-parametric approaches in the context of simulated panel data. The findings suggest that, as opposed to previous studies, parametric and non-parametric approaches can both generate comparable technical efficiency scores with simulated data. Moreover, techniques from parametric approaches, i.e. SFA and DFA are consistent with each other whereas the same applies to non-parametric approaches, i.e. DEA models. The research study also discusses some important theoretical and methodological implication of the findings and suggests some ways whereby future research can enable to overcome some of the restrictions associated with current approaches.

The diploma thesis summarizes the history of the insurance industry in the world with a detailed focus on the Czech Republic. The thesis continues to discuss the situation on insurance markets in the last twenty years. It is described how insurance companies deal with natural disasters and a new type of risk - terorism. The thesis proceeds with actual trends in the insurance industry and supervision in insurance.

Thesis (MBA (Business Management))--Stellenbosch University, 2008. / Financial services and in particular the insurance industry, has been exposed to large-scale pressures and challenges from various fronts. For the past few decades, the life insurance industry has been self-regulated through the Life Offices Association (LOA). The LOA, representing life insurers, however never succeeded in keeping the industry abreast of market, and the needs of the role players' (authors' opinion based on interaction with in the industry and supported by the implementation of consumer-driven legislation). The LOA together with a range of other financial services industry bodies have since been disbanded (2008) and will in future form part of the greater industry body ASISA (Association for savings & investment South Africa) Over the past 10 years the slow transformation caught up with the insurance industry. Life insurers wanting to satisfy their shareholders focussed on the generation of new business, often to the detriment of the consumer. Consumer understanding of what they bought increased at a faster rate than the knowledge of many of the brokers selling these products, partly due to the information era and the free availability of information. Lack of transparency, misrepresentations and bad advice from insurers and brokers have been exposed at an increasing rate since the late 1990s. The South African government decided to correct the wrongs of the past by taking control of the situation, copying the UK model on Financial Services. Government instituted the Financial Services Board and implemented a number of regulations to ensure compliance to set criteria. If compared to the regulatory model and processes applied in the UK (FSA), the insurance industry can expect more regulatory pressures in the immediate future. The increased regulation will increase the cost of doing business for all role-players. A reduction in broker numbers can also be expected. Insurers will have to find new ways of increasing production with a reduced distribution capacity. Insurers need to produce sufficient returns on investment for their shareholders to ensure continued capital. By being creative and partnering existing distribution structures, such as distribution networks, bank brokerages, etc., insurers will be able to lock-in distribution capacity without incurring excessive costs. It is undeniable that insurers will have to revisit their distribution strategies if they are to survive the next few years. At the current cost of distribution, insurers will not survive the changing environment. Distribution through existing internal distribution structures will continue to be under severe cost pressures in servicing brokers with low to average production levels. If the international trends are to filter through into the South African insurance industry, larger number of brokers will join networks merely to limit the impact the changing environment has on their practices. Such a move works in favour of all role players: • Insurers are able to reduce/restructure their costs and lock-in distribution capacity through singular points of entry. • Brokers are less fragmented and so improve their ability of being heard, through a greater unified voice. • Regulators can drive change and compliance through singular points of access to multiple brokers. • The industry is able to retain the knowledge and expertise to deliver their products and improve its overall public image. • Government are assured of a larger part of the population having access to financial services and in particular life insurance. • Clients would experience improved and standardised service levels from the brokers. Insurers unable to lock-in distribution capacity will find it extremely difficult to survive the changing climate. Insurers have been locking-in distribution capacity by means of: • agency forces that write products of the specific insurer • bank-assurance agreements where insurers and banks have cross shareholding • franchise agreements where the sales people are in fact agents of the franchisee • call centres either owned by the insurer or having dedicated seats selling products of the insurer • loyalty programmes aimed at gaining a larger portion of the brokers production • recently the formation of distribution networks provide insurers on the network platform access to affiliated brokers. The formation of networks and distribution networks counteracts the constrictions these structures place on broker independence by providing increased operational freedom to their affiliated brokers. The choice of partnering a distribution network needs to be supported by the following: • The choice of partner • A cost-benefit analysis • The timing of entering the partnership • The resources and supporting structures • The communication of the change • The preparation for the change • An approach in support of the partnership Partnering with a network is a strategic initiative as it involves outsourcing what was previously thought to be a core function of the insurer. This change in approach impacts many of the current structures and various people at all levels of the operation. How to approach partnering and implementing a model to support outsourcing to external distribution networks is dealt with in this study. The success of partnering with external distributors is reliant upon eight identified critical factors. These relate to: • fit, management, formalities and relationships of the partnership • systems, processes and support structures in support of the partnership • management of risk, control and growth within the partnership. The changing business environment will continue to increase the attractiveness of distribution networks to brokers. A shift in distribution capacity demographics towards distribution networks can thus be expected. In order to maximise their distribution capacity life insurers will need to embrace the change and adapt their approach towards the partnership. Without understanding, managing and finding solutions to each of the critical success factors (CSFs) an insurer will find it extremely difficult competing and increasing market share within the distribution network. The findings indicate a realistic probability that insurers are able to adapt to the changing environment. This however requires a change in style of management from one of control towards one of influence. Effectively, each partner should be treated as partners.

Since the early 1980's there has been a heightened academic interest in the field of commitment, particularly as it relates to business relationships. Knowledge of commitment continues to advance and has begun splintering and applied into specific and narrow fields. The particular field of interest in this study surrounds commitment levels in business relationships within property and casualty insurance distribution networks. The intent of understanding and enhancing commitment levels is to allow stakeholders to explore new ways to improve profitability. This can be achieved by deepening the level of understanding and knowledge of relationship partners with a view to anticipating and fulfilling their needs better than the competition. However, commitment is intangible and involves many factors including human emotion. This increases the difficulty in comprehending the whole phenomenon of commitment. To assist in furthering the knowledge in this area, transaction cost theory is examined and applied to insurance company and broker relationships. In seeking a greater understanding of the underlying drivers of commitment, this thesis investigates the theoretical contribution of transaction cost economics theory in assessing commitment levels. The purpose is to utilize the elements of transaction costs as a means to extend the awareness of how commitment is constructed, and to search for ways to improve and strengthen these relationships. The primary research method consists of three major case studies within the Canadian property and casualty insurance distribution sector. The first case study explores the perspectives of insurance brokers in Ontario. The second study reveals the perceptions of relationship managers employed with ING Canada, the country's largest property and casualty insurance company. Lastly, the research incorporates a series of interviews with ING Canada senior executives to capture their perspectives and validate the research findings from the first two case studies. These investigations into the Canadian insurance industry have provided several outputs, chief among them is the development of a conceptual model referred to as the 'Commitment Wheel'. This model has the advantages of seating affective and calculative commitment at the centre of a moving environment of commitment enablers.

Försäkringar och försäkringsbolag har stor betydelse för det moderna samhället när det kommer till trygghet och utveckling, både för privatpersoner och företag. Trots detta har försäkringsbranschen fått relativt lite uppmärksamhet inom forskningen, inte minst inom företagsekonomi. I en tid av digitalisering står försäkringsbolagen dessutom inför stora utmaningar, bland annat relaterat till lojalitet. Syftet med denna studie är därför att skapaförståelse kring hur digitalisering påverkar lojaliteten i försäkringsbranschen, huruvida kunder är lojala mot sina försäkringsbolag och ur ett kundperspektiv definiera möjliga påverkansfaktorer för lojalitet i en tid av digitalisering. Kopplingar görs till begreppet customer engagement för att analysera dess relation till lojalitet bland kunder i försäkringsbranschen. Studien genomförs genom tio kvalitativa samtalsintervjuer med svenska försäkringskunder i åldrarna 23 till 79 år. Resultaten visar att försäkringskunderna föredrar mänsklig kontakt över digital kontakt för att känna både förtroende och lojalitet. Sju faktorer som påverkar lojaliteten har identifierats: service och bemötande, innehåll och villkor, erfarenheter, pris, bekvämlighet, personlig kontakt och bonusprogram. Slutsatserna som dras är att digitalisering har en negativ inverkan på lojaliteten, samt att både nivån av lojalitet och förekomsten av customer engagement är låg inom försäkringsbranschen ochtycks ha ett samband. Detta då de påverkas av liknande faktorer. Studiens resultat bekräftar tidigare forskning inom tre skilda områden: digitalisering, lojalitet och customer engagement, men bidrar även med nya insikter genom att begreppen kombineras och appliceras på ett nytt tillämpningsområde, försäkringsbranschen. Slutligen identifierar studien aktiviteter som kanvara till hjälp för att öka både kundlojaliteten och engagemanget bland kunderna hos svenska försäkringsbolag. / Insurances and insurance companies are of great importance to modern society when it comes to safety and development, for both individuals and companies. Despite this, the insurance industry has received a relatively small amount of attention in research, not only within business economics. Furthermore, in a time of digitalization, insurance companies are facingmajor challenges including those related to loyalty. The purpose of this study is therefore to acquire an understanding of how digitalization affects loyalty within the insurance industry, whether customers are loyal to their insurance companies, and from a customer perspective define possible influences for loyalty in a time of digitalization. Connections are made between loyalty and the concept of customer engagement to analyze the relationship betweenthe two among insurance customers. The study is conducted through ten qualitative interviews with Swedish insurance customers, aged 23 to 79 years old. The results show that insurance customers prefer human contact over digital contact in order to feel both trust and loyalty. Seven antecedents for loyalty have been identified: service and customer treatment, content and conditions, experiences, price, convenience, personal contacts, and bonusprograms. The conclusions are that digitalization has a negative impact on loyalty, and that the level of loyalty as well as the presence of customer engagement is low in the insurance industry and seems to be affected by similar factors. Therefore, the study suggests a connection between the two. The findings confirm previous research in three distinct areas: digitalization, loyalty and customer engagement, but also contributes to new insights bycombining and applying the concepts to a new field, the insurance industry. Finally, the study identifies activities that might be helpful for Swedish insurance companies in increasing both customer loyalty and customer engagement.

This thesis deals with the possibilities of using satellite navigation systems in the insurance industry. In particular, the thesis focuses on the Czech Republic. The aim of this thesis is to analyze and evaluate the possibilities of using satellite systems, especially satellite navigation systems in the insurance industry. At first the thesis describes satellite navigation systems in general. Then it expresses using of the satellite navigation systems to manage costs of the insurance companies. In the last part it maps usage of satellite navigation systems in connection with insurance products, specifically: maps used by insurance companies, system of insurance Pay As You Drive (PAYD) and mobile applications.

Continuous changes along with the increased pressure to perform may result in feelings of distrust, strain in interpersonal relations, psychological strain, fatigue and tension, all affecting the well-being of employees. Tracking and addressing the effectiveness of employees in the work context in areas that could impact on the standard of their services is important. Burnout and work engagement are specific focus areas in this regard. To measure burnout and work engagement, it is important to use reliable and valid instruments. However, there is a lack of empirical research systematically investigating burnout and work engagement in South Africa, as well as serious limitations, including poorly designed studies, a lack of sophisticated statistical analyses and poorly controlled studies. Furthermore, South Africa is a multicultural society and therefore, when burnout and work engagement measures are applied to different cultural groups, issues of equivalence become important. The objectives of this study were to standardise the MBI-GS and UWES for employees in an insurance company and to determine equivalence for each instrument, to determine the occupational stressors experienced and demographic differences in terms of the experience of occupational stressors and to test a causal model of work wellness consisting of burnout, work engagement, job demands, job resources, health, optimism and intention to leave. The research method for each of the three articles consists of a brief literature review and an empirical study. A cross-sectional survey design was used. An availability sample (N = 613) fiom employees in an insurance company was taken. The Maslach Burnout Inventory - General Survey (MBI-GS), Utrecht Work Engagement Scale (UWES), Life Orientation Test - Revised (LOT-R), An Organisational Stress Screening Tool (ASSET), Job Characteristics Scale (JCS) and a biographical questionnaire were administered. The statistical analysis was carried out with the help of the SAS program and AMOS. The statistical methods utilised in the three articles consisted of descriptive statistics, Cronbach alpha coefficients, inter-item correlations, Pearson product-moment correlation coefficients and structural equation modelling methods. One-way analysis of variance (ANOVA) was also utilised to determine differences between the subgroups of the sample. Structural equation modelling confirmed a three-factor model of burnout, consisting of exhaustion, cynicism and professional efficacy. The three-factor model of work engagement represented the data quite well after certain items had been replaced due to semantic differences. The MBI-GS and UWES both showed acceptable internal consistencies. Construct equivalence for different language groups were confumed for the MBI-GS and UWES. The continuous exposure to things like change, competitiveness and rivalry may result in feelings of stress. Stress may have a negative impact on the health and well-being of individuals. Physical and psychological ill health was found to be the major outcome of stress for employees. Commitment moderated the effect of occupational stress on ill health. Specific occupational stressors indicated in an insurance company had to do with performance management, job characteristics, redundancy of skills and remuneration. Biographical factors (i.e. department, level, years' experience) had an impact on the experience of occupational stressors. A one-factor, four-factor and three-factor wellness model was tested. The three-factor model, comprising exhaustion and cynicism loading on burnout and a combined work engagement (vigour and dedication) dimension, provided the best fit with the data. The causal model of work wellness provides support for the COBE model, assuming job demands and job resources. A lack of job resources increases the levels of burnout of employees, as well as the intention to leave the organisation. The availability of job resources increases the levels of work engagement. Employees who experience excessive workloads are likely to develop high levels of burnout which, in turn, may lead to health problems. Recommendations for future research were made. / Thesis (Ph.D. (Industrial Psychology))--North-West University, Potchefstroom Campus, 2004.

Continuous changes along with the increased pressure to perform may result in feelings of distrust, strain in interpersonal relations, psychological strain, fatigue and tension, all affecting the well-being of employees. Tracking and addressing the effectiveness of employees in the work context in areas that could impact on the standard of their services is important. Burnout and work engagement are specific focus areas in this regard. To measure burnout and work engagement, it is important to use reliable and valid instruments. However, there is a lack of empirical research systematically investigating burnout and work engagement in South Africa, as well as serious limitations, including poorly designed studies, a lack of sophisticated statistical analyses and poorly controlled studies. Furthermore, South Africa is a multicultural society and therefore, when burnout and work engagement measures are applied to different cultural groups, issues of equivalence become important. The objectives of this study were to standardise the MBI-GS and UWES for employees in an insurance company and to determine equivalence for each instrument, to determine the occupational stressors experienced and demographic differences in terms of the experience of occupational stressors and to test a causal model of work wellness consisting of burnout, work engagement, job demands, job resources, health, optimism and intention to leave. The research method for each of the three articles consists of a brief literature review and an empirical study. A cross-sectional survey design was used. An availability sample (N = 613) fiom employees in an insurance company was taken. The Maslach Burnout Inventory - General Survey (MBI-GS), Utrecht Work Engagement Scale (UWES), Life Orientation Test - Revised (LOT-R), An Organisational Stress Screening Tool (ASSET), Job Characteristics Scale (JCS) and a biographical questionnaire were administered. The statistical analysis was carried out with the help of the SAS program and AMOS. The statistical methods utilised in the three articles consisted of descriptive statistics, Cronbach alpha coefficients, inter-item correlations, Pearson product-moment correlation coefficients and structural equation modelling methods. One-way analysis of variance (ANOVA) was also utilised to determine differences between the subgroups of the sample. Structural equation modelling confirmed a three-factor model of burnout, consisting of exhaustion, cynicism and professional efficacy. The three-factor model of work engagement represented the data quite well after certain items had been replaced due to semantic differences. The MBI-GS and UWES both showed acceptable internal consistencies. Construct equivalence for different language groups were confumed for the MBI-GS and UWES. The continuous exposure to things like change, competitiveness and rivalry may result in feelings of stress. Stress may have a negative impact on the health and well-being of individuals. Physical and psychological ill health was found to be the major outcome of stress for employees. Commitment moderated the effect of occupational stress on ill health. Specific occupational stressors indicated in an insurance company had to do with performance management, job characteristics, redundancy of skills and remuneration. Biographical factors (i.e. department, level, years' experience) had an impact on the experience of occupational stressors. A one-factor, four-factor and three-factor wellness model was tested. The three-factor model, comprising exhaustion and cynicism loading on burnout and a combined work engagement (vigour and dedication) dimension, provided the best fit with the data. The causal model of work wellness provides support for the COBE model, assuming job demands and job resources. A lack of job resources increases the levels of burnout of employees, as well as the intention to leave the organisation. The availability of job resources increases the levels of work engagement. Employees who experience excessive workloads are likely to develop high levels of burnout which, in turn, may lead to health problems. Recommendations for future research were made. / Thesis (Ph.D. (Industrial Psychology))--North-West University, Potchefstroom Campus, 2004.