We conduct a field study with a US health insurance firm to examine how product customization affects firm’s cost to serve the customers through its call center. In our setting, the product is a complex health insurance plan. Firm incurs substantial cost in serving the customers through its call center, and adjudicating the claims using its information systems. Firm sells either standard plans,...

The number of people in Australia that are currently covered by a hospital private health insurance product continues to rise every quarter. In September 2010, for the first time since the introduction of the public universal social insurance scheme, Medicare, more than 10million persons in Australia are covered by private health insurance. Although the number of persons covered by private heal...

This is the first academic study of capital structure in the life insurance industry to compare the effects of two different measures of asset risk in a panel of risks. The first measure embodies a regulatory (actuarial) viewpoint. The second reflects volatility of market returns. We model capital as a function of one or the other asset risk, plus a product risk factor based on health insurance...

In the insurance industry, spreadsheets have emerged as an invaluable tool to for product pricing, because it is relatively straightforward to create and maintain complex pricing models using Excel®. In fact, Excel is often preferred to “hard-code” whenever there are frequent changes to the calculations and business logic which under-pin the pricing of an insurance product. However, problems ar...

This paper presents an infrastructure for process and product models where structural coupling plays a central role. It begins with two sections that introduce process and product models. Then the third section describes the components of a common infrastructure. This is a domain model engine that relies on some powerful metaphors. We describe these metaphors with a few software patterns. The i...

Micro-insurance is a form of insurance, not being separated from traditional but which mainly aimed at low-income individuals. This insurance applies to developing countries, where the level population income below average and individuals occupy highest percentage. The importance micro-insurance in these countries fact that it includes its packages, who are excluded schemes. Albania also one wi...

Monte Carlo simulation is used to develop a flexible framework to measure the profitability, risk, and competitiveness of any insurance product. A genetic algorithm is then used to seek the optimum asset allocations that form the profitability-risk-competitiveness frontier and to examine the profitability, risk, and competitiveness trade-off's. We also show how to select the appropriate asset a...

Over the past few years, sharia insurance has become one of most discussed products among public. This is here to fulfill interests and desires many people who expect an product that halal in accordance with provisions. Islamic jurists are fully aware legal status never been established. The thought emerged when there was cultural acculturation between Islam Europe. Based on this, encourage com...

crop insurance is one of the best strategies to tackle farm risks and encourage producers to adopt modern production technologies. in present study, a sample of 224 insured and uninsured pistachio growers was selected for interview and collected required data using a simple random sampling method. then a logit multinomial model was used to assess factors affecting the choice of supplemental ins...

introduction: supplementary health care services are provided to offer health care services beyond existing medical services at a reasonable cost to all members. these supplementary health care services contribute to the health and quality of life of the members and therefore membership provides peace of mind and a sense of security. this study aimed at investigating supplementary health care s...