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eBook Changes in the Life Insurance Industry: Efficiency, Technology and Risk Management (Innovations in Financial Markets and Institutions) download

by J. David Cummins,Anthony M. Santomero

eBook Changes in the Life Insurance Industry: Efficiency, Technology and Risk Management (Innovations in Financial Markets and Institutions) download ISBN: 0792385357
Author: J. David Cummins,Anthony M. Santomero
Publisher: Springer; 1999 edition (December 31, 1999)
Language: English
Pages: 369
ePub: 1209 kb
Fb2: 1618 kb
Rating: 4.7
Other formats: doc docx lrf mobi
Category: Work and Money
Subcategory: Management and Leadership

75 J. David Cummins 4 Efficiency and Competitiveness in the .

75 J.

Innovations in Financial Markets and Institutions. Innovations in Financial Markets and Institutions. Major challenges for life insurance companies have been posed by an unprecedented wave of mergers and acquisitions in the insurance industry and the emergence of non-traditional competitors such as banks, mutual fund companies and investment advisory firms. This is the first book to analyze the determinants of firm performance in the life insurance industry by identifying the & practices' employed by leading insurers to succeed in this dynamic business environment.

Start by marking Changes in the Life Insurance Industry: Efficiency . On the topics of risk and pricing, new insights are offered relative to current methodologies and in regard to areas where improvement i. .

Start by marking Changes in the Life Insurance Industry: Efficiency, Technology and Risk Management as Want to Read: Want to Read savin. ant to Read. On the topics of risk and pricing, new insights are offered relative to current methodologies and in regard to areas where improvement is clearly warranted.

Santomero, Anthony .

The book's writing style clearly signals that it is targeting a hybrid audience of academics and practitioners.

This volume is organized in 10 independent but related chapters devoted to enhance our understanding of the challenges facing life insurers in their quest for a successful strategy. The book's writing style clearly signals that it is targeting a hybrid audience of academics and practitioners. The price to pay is that the more technical material is kept to a minimum.

New markets for financial futures and options are mainly markets for intermediaries .

New markets for financial futures and options are mainly markets for intermediaries rather than individuals or firms. These changes are difficult to reconcile with the traditional theories. The industry's cost pressures, greater financial risk, and expanding geographic scope have forced the states to dramatically revamp the insurance regulatory framework. Industry criticisms of some of these regulatory reforms also are discussed.

Inc1udes bibliographical references. ISBN 978-1-4613-7293-6 ISBN 978-1-4615-5045-7 (eBook) DOI 1. 7 1. Insurance, Life - United States.

Santomero, Financial Risk Management: The Whys and Hows, Financial Markets, Institutions and Instruments, volume 4, number 5, 1995, pp. 1–14. 7. We distinguish here between the basic financial services offered by financial institutions and the six core functions outlined by Merton and by Merton and Bodie that a financial system provides.

The European transaction banking industry is undergoing a major transformation.

While McKinsey expects fintech innovation in transaction banking to continue to accelerate, the applications offered by fintechs are still in an early stage of development, with no concrete examples reaching large-scale adoption. The European transaction banking industry is undergoing a major transformation.

A wonderful overview of financial risk management. Some of the real life examples in each chapter in this book aren't as good as others I read. I am not a financial analyst, but I can appreciate the clearly described systems put in place to adjust for risk. The book certainly gives the reader a greater appreciation of what financial analysts are considering when they look at a company's balance sheet.

Major challenges for life insurance companies have been posed by an unprecedented wave of mergers and acquisitions in the insurance industry and the emergence of non-traditional competitors such as banks, mutual fund companies and investment advisory firms. This is the first book to analyze the determinants of firm performance in the life insurance industry by identifying the `best practices' employed by leading insurers to succeed in this dynamic business environment. The book draws upon data from insurer financial statements as well as upon an extensive survey of life insurer management practices and strategic choices in distribution systems, information technology, mergers and acquisitions, human resources and financial strategies. Generic strategies such as cost leadership, customer focus, and product differentiation are analyzed as well as strategic practices specific to the insurance industry. Best practices are identified by measuring the economic efficiency of insurers and by comparing firms across the industry. Both cost and revenue efficiency are measured relative to best practice efficient frontiers consisting of the industry's dominant life insurance firms. Economies of scale and the effects of mergers and acquisitions on efficiency are also analyzed. Financial strategies are examined with specific reference to pricing policy, valuation of assets and liabilities, and the current state of firm-level risk management systems. The benchmarks established are the result of extensive fieldwork that identifies key financial risks and methodologies to both measure and manage them at the firm level. The results discussed in the book indicate that firm performance is significantly correlated with management practices and strategic choices. Thus, life insurers can improve profitability by adopting optimal combinations of strategies. The book contains important new material on the effects of strategic choices in product distribution systems, information technology, mergers and acquisitions, human resources, and financial risk management policies. In the area of efficiency, the methodology provides a new approach for identifying peer groups of insurers and measuring the performance of individual insurers relative to their peer group. On the topics of risk and pricing, new insights are offered relative to current methodologies and in regard to areas where improvement is clearly warranted. The book concludes with an analysis of the future opportunities and challenges in the life insurance industry facing managers, and the strategic options available to them to cope with these changes.