Purpose: The study focused on the effect of technological advancement on the Risk management of insurance companies in Nigeria. The study’s objectives were to examine how technological innovations enhance the identification of policyholder risk by insurance companies and evaluate how information technology has improved the identification of risks inherent in investment by insurance companies.Methodology: A survey research design was employed in this study. The study focused on the 14 composite insurance companies in Nigeria, only five of which were selected based on gross premium written and retention ratio. The targeted population of the study was 1569, while the sample size was 181 employees of the selected insurance companies. A well-structured questionnaire was formulated and administered, out of which 163 were filled and used for analyses using regression analysis with the SPSS (IBM 23) package.Results and Findings: The results showed that technological innovation had enhanced insurance companies’ identification of policyholder risks. In contrast, information technology has not improved the identification of risks inherent in investment by insurance companies. Thus, the study recommended, among others, that insurance companies should invest more in information technology to help achieve better results.
{"title":"Technological Advancement and Risk Management in Composite Insurance Companies in Nigeria","authors":"Aduloju Kunle, Azeez Fatimo Titilope","doi":"10.51410/jcgirm.9.1.7","DOIUrl":"https://doi.org/10.51410/jcgirm.9.1.7","url":null,"abstract":"Purpose: The study focused on the effect of technological advancement on the Risk management of insurance companies in Nigeria. The study’s objectives were to examine how technological innovations enhance the identification of policyholder risk by insurance companies and evaluate how information technology has improved the identification of risks inherent in investment by insurance companies.Methodology: A survey research design was employed in this study. The study focused on the 14 composite insurance companies in Nigeria, only five of which were selected based on gross premium written and retention ratio. The targeted population of the study was 1569, while the sample size was 181 employees of the selected insurance companies. A well-structured questionnaire was formulated and administered, out of which 163 were filled and used for analyses using regression analysis with the SPSS (IBM 23) package.Results and Findings: The results showed that technological innovation had enhanced insurance companies’ identification of policyholder risks. In contrast, information technology has not improved the identification of risks inherent in investment by insurance companies. Thus, the study recommended, among others, that insurance companies should invest more in information technology to help achieve better results.","PeriodicalId":147045,"journal":{"name":"Journal of corporate governance, insurance and risk management","volume":"181 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-08-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123289428","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Purpose: The purpose of the present study, which was based on the increasing relationship between sports and the environment and the importance of this relationship, was to calculate the carbon footprint of Sarıkamış Ski Facilities in the city of Kars, Turkey. To do this purpose, an answer was sought to the following study question: What is the carbon footprint of Sarıkamış Ski Facilities?Methodology: The study was conducted within the scope of quantitative research methods design, which are used frequently in social sciences in recent years. The amount of electricity consumed on the cable car line in Sarıkamış Ski Facilities in Kars and the natural gas consumption amounts of the three hotels that have the highest bed capacity and overnight stays in the hotels area were used as the dataset in the study. To answer the study question, the carbon dioxide emission amount (carbon footprint) of the ski Facilities was calculated by using the calculation methodology (Tier 1 Method) that was put forward by the Intergovernmental Panel on Climate Change (IPCC).Results/Findings: The carbon dioxide emission (carbon footprint) occurring because of the natural gas consumption of three accommodation facilities and the electricity consumption of the cable car lines on the ski slopes in the 2022 ski season in Sarıkamış Ski Facilities was calculated as 12.140.58 tons. According to these calculations, 86% of the carbon footprint of the ski facilities occurred because of electricity consumption. This can be associated with the increasing demand in Sarıkamış Ski Facilities and the intense use of cable car lines to cover this demand. These results, which were limited to Sarıkamış Ski Facilities in Kars in Turkey, indicate that it is necessary to turn to renewable energy sources in Sarıkamış Ski Facilities. Also, it can be argued that the increasing demands on skiing should be covered in an environmentally friendly manner with increasing awareness of environmentally friendly energy. It is inevitable to develop sustainable environmental and sports policies to resolve environmental problems such as climate change, global warming, and carbon footprint. This study, which was limited to only Sarıkamış Ski Facilities, is expected to prepare the ground for a study throughout Turkey, and it is also aimed to help the development of an environmentally friendly sports concept in Turkey.
{"title":"An evaluation of the carbon footprint problem in winter sports","authors":"Ahmet Atalay","doi":"10.51410/jcgirm.9.1.15","DOIUrl":"https://doi.org/10.51410/jcgirm.9.1.15","url":null,"abstract":"Purpose: The purpose of the present study, which was based on the increasing relationship between sports and the environment and the importance of this relationship, was to calculate the carbon footprint of Sarıkamış Ski Facilities in the city of Kars, Turkey. To do this purpose, an answer was sought to the following study question: What is the carbon footprint of Sarıkamış Ski Facilities?Methodology: The study was conducted within the scope of quantitative research methods design, which are used frequently in social sciences in recent years. The amount of electricity consumed on the cable car line in Sarıkamış Ski Facilities in Kars and the natural gas consumption amounts of the three hotels that have the highest bed capacity and overnight stays in the hotels area were used as the dataset in the study. To answer the study question, the carbon dioxide emission amount (carbon footprint) of the ski Facilities was calculated by using the calculation methodology (Tier 1 Method) that was put forward by the Intergovernmental Panel on Climate Change (IPCC).Results/Findings: The carbon dioxide emission (carbon footprint) occurring because of the natural gas consumption of three accommodation facilities and the electricity consumption of the cable car lines on the ski slopes in the 2022 ski season in Sarıkamış Ski Facilities was calculated as 12.140.58 tons. According to these calculations, 86% of the carbon footprint of the ski facilities occurred because of electricity consumption. This can be associated with the increasing demand in Sarıkamış Ski Facilities and the intense use of cable car lines to cover this demand. These results, which were limited to Sarıkamış Ski Facilities in Kars in Turkey, indicate that it is necessary to turn to renewable energy sources in Sarıkamış Ski Facilities. Also, it can be argued that the increasing demands on skiing should be covered in an environmentally friendly manner with increasing awareness of environmentally friendly energy. It is inevitable to develop sustainable environmental and sports policies to resolve environmental problems such as climate change, global warming, and carbon footprint. This study, which was limited to only Sarıkamış Ski Facilities, is expected to prepare the ground for a study throughout Turkey, and it is also aimed to help the development of an environmentally friendly sports concept in Turkey.","PeriodicalId":147045,"journal":{"name":"Journal of corporate governance, insurance and risk management","volume":"12 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-08-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122274257","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Purpose: The agricultural sector in Togo has a huge financing problem and numerous other problems mainly related to climate change.Methodology: This study proposes a critical look at the microfinance sector and its relationship with the agricultural industry, which banking institutions have long abandoned.Results/Findings: Based on data from major international institutions and the two most significant microfinance structures in the country, after some analysis, the results show that the microfinance sector in Togo is a very dynamic sector with strong growth, given its aggregates that continue to grow year after year. On the other hand, the share of agricultural credit in the portfolio of microfinance structures is constantly decreasing from year to year, demonstrating that microfinance is also starting to move away from the farming sector. Finally, the credits granted are not, for the most part, adapted to the financial needs of agricultural producers. Most of the time, these rural loans are insufficient or do not respect the cultivation calendars of producers. Also, access to these loans is prohibitive for many producers, primarily small-scale producers.
{"title":"The Agricultural Sector and Microfinance in Togo","authors":"Komlan Edem Agboklou, B. Özkan","doi":"10.51410/jcgirm.9.1.2","DOIUrl":"https://doi.org/10.51410/jcgirm.9.1.2","url":null,"abstract":"Purpose: The agricultural sector in Togo has a huge financing problem and numerous other problems mainly related to climate change.Methodology: This study proposes a critical look at the microfinance sector and its relationship with the agricultural industry, which banking institutions have long abandoned.Results/Findings: Based on data from major international institutions and the two most significant microfinance structures in the country, after some analysis, the results show that the microfinance sector in Togo is a very dynamic sector with strong growth, given its aggregates that continue to grow year after year. On the other hand, the share of agricultural credit in the portfolio of microfinance structures is constantly decreasing from year to year, demonstrating that microfinance is also starting to move away from the farming sector. Finally, the credits granted are not, for the most part, adapted to the financial needs of agricultural producers. Most of the time, these rural loans are insufficient or do not respect the cultivation calendars of producers. Also, access to these loans is prohibitive for many producers, primarily small-scale producers.","PeriodicalId":147045,"journal":{"name":"Journal of corporate governance, insurance and risk management","volume":"22 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-08-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133603036","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Purpose: This study examined the effect of the rate of carbon footprints in an economy on the financial performance of listed insurance companies in selected countries in the sub-Saharan African region. It is argued in the study that factors that are external to the insurance industry (carbon footprint) intensify risks faced by the insurance firms.Methodology: The study employs secondary data from the sampled insurance firms’ annual audited financial statements. Data was collected from forty-five (45) insurance firms in eight (8) selected sub-Saharan African countries from 2010 to 2019. A dynamic estimation procedure was adopted based on the system GMM estimation technique using dependent variables (ROA, ROE and Tobin’s Q), explanatory variable CO2 emission and moderating variables of firm’s size, economic growth and inflation rate.Results/Findings: The results from the study reveal that the pattern of effects of carbon footprints differ in terms of the measurement used for a performance indicator. In particular, the study found that the level of carbon footprint in the economy exerts significant negative effects on all the performance indicators of insurance firms. Optimal risk and sustainable insurance procedures are therefore recommended in the study.
{"title":"Carbon Footprint and Performance of Quoted Insurance Firms in Sub-Saharan African Countries","authors":"Osariemen Omoruyi-Aigbovo, Omoruyi Aigbovo","doi":"10.51410/jcgirm.9.1.19","DOIUrl":"https://doi.org/10.51410/jcgirm.9.1.19","url":null,"abstract":"Purpose: This study examined the effect of the rate of carbon footprints in an economy on the financial performance of listed insurance companies in selected countries in the sub-Saharan African region. It is argued in the study that factors that are external to the insurance industry (carbon footprint) intensify risks faced by the insurance firms.Methodology: The study employs secondary data from the sampled insurance firms’ annual audited financial statements. Data was collected from forty-five (45) insurance firms in eight (8) selected sub-Saharan African countries from 2010 to 2019. A dynamic estimation procedure was adopted based on the system GMM estimation technique using dependent variables (ROA, ROE and Tobin’s Q), explanatory variable CO2 emission and moderating variables of firm’s size, economic growth and inflation rate.Results/Findings: The results from the study reveal that the pattern of effects of carbon footprints differ in terms of the measurement used for a performance indicator. In particular, the study found that the level of carbon footprint in the economy exerts significant negative effects on all the performance indicators of insurance firms. Optimal risk and sustainable insurance procedures are therefore recommended in the study.","PeriodicalId":147045,"journal":{"name":"Journal of corporate governance, insurance and risk management","volume":"244 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-08-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134145726","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Purpose: Oman is the first country among the GCC countries to implement corporate governance (CG) principles. Corporate governance regulates the fundamental principles that govern the activities of businesses, like the responsibilities and roles of the Board of Directors (BoD), financial reporting and auditing, remunerations, and internal control system. Banks play a vital role in the economic development of a country. Adopting CG practices and the audit function in banks paves the way for transparent financial reporting. Furthermore, the audit committee has an impact on the financial performance of a firm as they undertake the task of preventing fraudulent financial reporting. From the above discussion, the purpose of this study is to understand and examine the characteristics of the audit committee by exploring its association with its performance.Methodology: All the eight listed banks on the Muscat Stock Exchange (MSX) have been selected for the study, and data has been collected from the banks’ annual reports for five years (2016-2020). The study has been conducted based on three CG characteristics such as the number of members in the committee, number of committee meetings and number of non-executive members in the committee. Measuring firm performance has been done by calculating Return on Asset (ROA) and Return on Equity (ROE). Correlation and regression analysis has been used to study the relationship between CG factors and bank performance. ROA and ROE are dependent variables. The three CG factors are independent variables, and bank size has been used as a control variable.Results/Findings: This study shows a positive relationship between the banks’ performance and the number of committee meetings and non-executive members and a negative impact between the number of members in the committee and bank performance.Originality and Practical Implications: Further research on this study area can be conducted after 2021, considering the impact of audit committee characteristics on bank performance before and during COVID – 19.
{"title":"Characteristics of Audit Committee and Banking Sector Performance in Oman","authors":"Nithya Ramachandrana, Saeed Khalfan Al-Muqaimi, Nasser Rashid Al-Hajri","doi":"10.51410/jcgirm.9.1.17","DOIUrl":"https://doi.org/10.51410/jcgirm.9.1.17","url":null,"abstract":"Purpose: Oman is the first country among the GCC countries to implement corporate governance (CG) principles. Corporate governance regulates the fundamental principles that govern the activities of businesses, like the responsibilities and roles of the Board of Directors (BoD), financial reporting and auditing, remunerations, and internal control system. Banks play a vital role in the economic development of a country. Adopting CG practices and the audit function in banks paves the way for transparent financial reporting. Furthermore, the audit committee has an impact on the financial performance of a firm as they undertake the task of preventing fraudulent financial reporting. From the above discussion, the purpose of this study is to understand and examine the characteristics of the audit committee by exploring its association with its performance.Methodology: All the eight listed banks on the Muscat Stock Exchange (MSX) have been selected for the study, and data has been collected from the banks’ annual reports for five years (2016-2020). The study has been conducted based on three CG characteristics such as the number of members in the committee, number of committee meetings and number of non-executive members in the committee. Measuring firm performance has been done by calculating Return on Asset (ROA) and Return on Equity (ROE). Correlation and regression analysis has been used to study the relationship between CG factors and bank performance. ROA and ROE are dependent variables. The three CG factors are independent variables, and bank size has been used as a control variable.Results/Findings: This study shows a positive relationship between the banks’ performance and the number of committee meetings and non-executive members and a negative impact between the number of members in the committee and bank performance.Originality and Practical Implications: Further research on this study area can be conducted after 2021, considering the impact of audit committee characteristics on bank performance before and during COVID – 19.","PeriodicalId":147045,"journal":{"name":"Journal of corporate governance, insurance and risk management","volume":"7 2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-08-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128632594","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Purpose: After the outbreak of COVID-19, the insurance business has experienced losses in terms of decreased demand for an insurance policy, lower return on investment, and increased claim settlement. Thus, risk management plays a significant role in mitigating the risk for businesses. However, risk management is restricted as a predefined approach for managing threats of uncertainty resulting from the activity or error of humans. Furthermore, the life insurance industry faces the challenge of paying claims in case of an increased death rate after the outbreak of COVID-19. Thus, there is a need for a better risk management framework. Methodology: This paper identifies the gap between the existing risk management model and the model specified by IRDA and suggests a model to mitigate the insurance risk. The study posits that whether an individual is more suitable or not for life insurance can be decided based on a simple factor. By using this tool/model of risk management, a life insurance company can reduce its risk of providing insurance to a customer exposed to high risk.
{"title":"A Risk Management Framework for Life Insurance Companies","authors":"Sonal Trivedi","doi":"10.51410/jcgirm.9.1.6","DOIUrl":"https://doi.org/10.51410/jcgirm.9.1.6","url":null,"abstract":"Purpose: After the outbreak of COVID-19, the insurance business has experienced losses in terms of decreased demand for an insurance policy, lower return on investment, and increased claim settlement. Thus, risk management plays a significant role in mitigating the risk for businesses. However, risk management is restricted as a predefined approach for managing threats of uncertainty resulting from the activity or error of humans. Furthermore, the life insurance industry faces the challenge of paying claims in case of an increased death rate after the outbreak of COVID-19. Thus, there is a need for a better risk management framework. Methodology: This paper identifies the gap between the existing risk management model and the model specified by IRDA and suggests a model to mitigate the insurance risk. The study posits that whether an individual is more suitable or not for life insurance can be decided based on a simple factor. By using this tool/model of risk management, a life insurance company can reduce its risk of providing insurance to a customer exposed to high risk.","PeriodicalId":147045,"journal":{"name":"Journal of corporate governance, insurance and risk management","volume":"21 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-08-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134266070","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Purpose: This paper aims to track the history of financial risk management and how this progress affected the evolution of financial risk management. In the first part of this paper, we will look at how risk is defined, the concept of risk management, and the transaction from risk philosophy to the risk culture. The second part examines the evolution of risk management and different models used in financial risk measurements, such as variance, covariance, standard deviation, and value at risk models. In the third part, the Bretton Woods system, its effects on the global financial system, and after the Bretton Woods system is studied. In the final cut, we conclude and present our recommendations for future studies.Methodology: This theoretical research will focus on the historical evolution of financial risk management and the financial tools used while measuring risk. The finance field has evolved with crises, technological developments, and globalization. While the finance field has been growing, how financial risks are defined, managed, and measured has also changed. In addition to these changes, the finance field was introduced with a new area called “blockchain” and new investment instruments called cryptocurrencies.Practical Implications: This theoretical research investigates the evolution of financial risk management from a historical perspective and argues that the current financial risk management tools are insufficient to project today’s risks fully.
{"title":"The Evolution of Financial Risk Management","authors":"Kayahan Cantürk, Murat Tolga","doi":"10.51410/jcgirm.9.1.10","DOIUrl":"https://doi.org/10.51410/jcgirm.9.1.10","url":null,"abstract":"Purpose: This paper aims to track the history of financial risk management and how this progress affected the evolution of financial risk management. In the first part of this paper, we will look at how risk is defined, the concept of risk management, and the transaction from risk philosophy to the risk culture. The second part examines the evolution of risk management and different models used in financial risk measurements, such as variance, covariance, standard deviation, and value at risk models. In the third part, the Bretton Woods system, its effects on the global financial system, and after the Bretton Woods system is studied. In the final cut, we conclude and present our recommendations for future studies.Methodology: This theoretical research will focus on the historical evolution of financial risk management and the financial tools used while measuring risk. The finance field has evolved with crises, technological developments, and globalization. While the finance field has been growing, how financial risks are defined, managed, and measured has also changed. In addition to these changes, the finance field was introduced with a new area called “blockchain” and new investment instruments called cryptocurrencies.Practical Implications: This theoretical research investigates the evolution of financial risk management from a historical perspective and argues that the current financial risk management tools are insufficient to project today’s risks fully.","PeriodicalId":147045,"journal":{"name":"Journal of corporate governance, insurance and risk management","volume":"54 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-08-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131996202","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
T. Oluwaleye, F. T. Kolapo, Adedeji Viscker Osasona
Purpose: This study investigated the impact of insurance risk management on fixed capital formation in Nigeria. The study sampled all insurance companies operating in Nigeria.Methodology: Time series data covering the period 1996 – 2019 were obtained from the CBN Statistical Bulletin, Annual Report of National Insurance Commission, and the various Nigerian Stock Exchange Factbook issues. General business insurance and life insurance claims represent risk management (independent variable), while gross capital formation was the dependent variable. Data were analyzed using descriptive statistics, unit root, Auto-Regressive Distributed Lag (ARDL), ARDL Bound cointegration test and model diagnostic test by Stata 15 software.Results and Findings: The study found that life insurance claims exert an insignificant positive impact on gross capital formation, with a reported estimate of (p=0.058 >0.05). On the other hand, general insurance business exerts a negligible negative impact on gross fixed capital formation, with an estimate of (p= 0.065>0.05) and the non-existent long-run connection between gross fixed capital formation and independent risk management.Originality and Practical Implications: Our study suggests that regulatory authorities should implement strategies to encourage Nigerians to patronize life insurance companies since this would lead to more excellent insurance investment and, in turn, growth in Nigeria’s gross capital formation, among other things.
{"title":"Impact of Insurance Risk Management on Fixed Capital Formation in Nigeria.","authors":"T. Oluwaleye, F. T. Kolapo, Adedeji Viscker Osasona","doi":"10.51410/jcgirm.9.1.5","DOIUrl":"https://doi.org/10.51410/jcgirm.9.1.5","url":null,"abstract":"Purpose: This study investigated the impact of insurance risk management on fixed capital formation in Nigeria. The study sampled all insurance companies operating in Nigeria.Methodology: Time series data covering the period 1996 – 2019 were obtained from the CBN Statistical Bulletin, Annual Report of National Insurance Commission, and the various Nigerian Stock Exchange Factbook issues. General business insurance and life insurance claims represent risk management (independent variable), while gross capital formation was the dependent variable. Data were analyzed using descriptive statistics, unit root, Auto-Regressive Distributed Lag (ARDL), ARDL Bound cointegration test and model diagnostic test by Stata 15 software.Results and Findings: The study found that life insurance claims exert an insignificant positive impact on gross capital formation, with a reported estimate of (p=0.058 >0.05). On the other hand, general insurance business exerts a negligible negative impact on gross fixed capital formation, with an estimate of (p= 0.065>0.05) and the non-existent long-run connection between gross fixed capital formation and independent risk management.Originality and Practical Implications: Our study suggests that regulatory authorities should implement strategies to encourage Nigerians to patronize life insurance companies since this would lead to more excellent insurance investment and, in turn, growth in Nigeria’s gross capital formation, among other things.","PeriodicalId":147045,"journal":{"name":"Journal of corporate governance, insurance and risk management","volume":"124 21","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-08-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"120824265","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Purpose: A claim is always requested at the maturity or occurrence of an event. The claim is a perception influencer and mirror image in the relationships between the insurers and their policyholders. This perception is thus crucial to the claims handling process. Therefore, this study aimed to assess the claims handling process explicitly attributed to the perceptions of motor insurance policyholders in Lagos, Nigeria.Methodology: The study adopted a cross-sectional survey research design. The study population was the total number of registered motorists recorded in 2019 by the Motor Vehicle Administration Agency, 704,828. Thus, quota and convenience sampling methods were adopted in the questionnaire distribution and collection processes. A structured questionnaire was employed for data gathering. A total of 399 copies of the questionnaire were distributed, of which 287 were found usable, representing a 72% response rate. The data procedural technique employed were simple frequency percentages and Friedman’s rank test statistical method.Results/Findings: This study confirms the importance of motor insurance policyholders attached to claims handling processes in Nigeria. This study recommended that claims handling procedures should be strategically designed to incorporate the various attributes explained to provide for a mutually beneficial ambience between policyholders and insurers. Furthermore, motor insurance providers should put in place attractive claims packages to boost the confidence level of the motoring communities. Given the implications of this study, research work is thus encouraged to look at behavioural factors that can influence the claims handling preferences of motor insurance policyholders in Nigeria.
{"title":"Claims Handling Process Attributes: Perceptions Of Motor Insurance Policyholders In Lagos, Nigeria","authors":"S. S. Ajemunigbohun, A. B. Sogunro, T. Oluwaleye","doi":"10.51410/jcgirm.9.1.9","DOIUrl":"https://doi.org/10.51410/jcgirm.9.1.9","url":null,"abstract":"Purpose: A claim is always requested at the maturity or occurrence of an event. The claim is a perception influencer and mirror image in the relationships between the insurers and their policyholders. This perception is thus crucial to the claims handling process. Therefore, this study aimed to assess the claims handling process explicitly attributed to the perceptions of motor insurance policyholders in Lagos, Nigeria.Methodology: The study adopted a cross-sectional survey research design. The study population was the total number of registered motorists recorded in 2019 by the Motor Vehicle Administration Agency, 704,828. Thus, quota and convenience sampling methods were adopted in the questionnaire distribution and collection processes. A structured questionnaire was employed for data gathering. A total of 399 copies of the questionnaire were distributed, of which 287 were found usable, representing a 72% response rate. The data procedural technique employed were simple frequency percentages and Friedman’s rank test statistical method.Results/Findings: This study confirms the importance of motor insurance policyholders attached to claims handling processes in Nigeria. This study recommended that claims handling procedures should be strategically designed to incorporate the various attributes explained to provide for a mutually beneficial ambience between policyholders and insurers. Furthermore, motor insurance providers should put in place attractive claims packages to boost the confidence level of the motoring communities. Given the implications of this study, research work is thus encouraged to look at behavioural factors that can influence the claims handling preferences of motor insurance policyholders in Nigeria.","PeriodicalId":147045,"journal":{"name":"Journal of corporate governance, insurance and risk management","volume":"73 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-08-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128699120","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Mohammad Qais Rezvani, Nirmal K Chaudhary, Ragif Huseynov, Maohua Li, Anjali Sharma, Raiba Jafarova, Chimnaz Huseynova
The paper examines the impact of COVID-19 on competitiveness and how organizational commitment and productivity have changed as a result of changes in processes, practices, or regulations. This paper analyses how employees fared during COVID in two countries, namely Afghanistan and India and the impact on organizational commitment and productivity. The research paper is based on secondary data and conceptual analysis of COVID-19 conditions or how this covetous environment affects their competitors, work environment, or fight for their rights. Moreover, the authors delved into how human capital management lead to organizational efficiency. Factors like (1) workplace safety, (2) targeted recruitment, (3) self-managed decision-making teams and decentralization, and (4) pay policy were all investigated. Employee engagement is widely assumed to influence organizational commitment, employee productivity, employee dedication, and, most importantly, it will generate comparative advantages for organizations. The primary goal of this research was to discover how people work efficiently and effectively with commitment and dedication during COVID-19.
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