Sektor ubezpieczeń w obliczu wyzwań współczesności
The insurance sector in the face of contemporary challenges
Contributor(s): Malwina Lemkowska (Editor), Marcin Wojtkowiak (Editor)
Subject(s): Politics / Political Sciences, Politics, Social Sciences, Economy, Law, Constitution, Jurisprudence, Business Economy / Management, Micro-Economics, Energy and Environmental Studies, Economic policy, Environmental and Energy policy, Management and complex organizations, Economic development, EU-Accession / EU-DEvelopment, Marketing / Advertising, Business Ethics, Globalization, Socio-Economic Research, EU-Legislation
Published by: Wydawnictwo Uniwersytetu Ekonomicznego w Poznaniu
Keywords: ubezpieczenia;sektor ubezpieczeń;rynek ubezpieczeniowy;ryzyko;COVID-19;innowacje;społeczna odpowiedzialność biznesu;ubezpieczenia środowiskowe;gospodarstwa domowe;zarządzanie ryzykiem;zakłady ubezpieczeń;
Summary/Abstract: Przedmiotem monografii są wyzwania dla ubezpieczycieli generowane przez zmiany otoczenia społeczno-gospodarczego. Sektor ubezpieczeń jest silnie eksponowany na takie zmiany. Jako część rynku finansowego gwałtownie reaguje na przemienność faz cyklu koniunkturalnego, co przekłada się m.in. na wyniki operacyjne ubezpieczycieli i rentowność ubezpieczeń o charakterze inwestycyjnym. Będąc jedną z najbardziej regulowanych gałęzi gospodarki, musi nieustannie odpowiadać na zmiany otoczenia prawnego. Działalność sektora ubezpieczeń opiera się na kreowaniu ochrony ubezpieczeniowej dla różnych rodzajów ryzyka, stąd przy zmieniającym się otoczeniu ryzyka sektor ten nieustannie identyfikuje nowe zagrożenia albo ewoluuje, odpowiadając na nowe atrybuty ryzyka już znanego. Autorami monografii są przedstawiciele ubezpieczeniowego środowiska naukowego reprezentujący najważniejsze ośrodki akademickie w Polsce: Uniwersytet Ekonomiczny we Wrocławiu, Uniwersytet Ekonomiczny w Poznaniu, Szkołę Główną Handlową, Uniwersytet Gdański, Uniwersytet Marii Curie-Skłodowskiej w Lublinie we współpracy z CREG-University of Grenoble Alpes, Politechnikę Rzeszowską, Uniwersytet Ekonomiczny w Krakowie, Uniwersytet Szczeciński i Wyższą Szkołę Handlową we Wrocławiu. Publikacja jest adresowana zarówno do przedstawicieli nauki o ubezpieczeniach, jak i praktyków ubezpieczeniowych.
- E-ISBN-13: 978-83-8211-131-6
- Print-ISBN-13: 978-83-8211-130-9
- Page Count: 172
- Publication Year: 2022
- Language: Polish
Pandemia COVID-19 i nowe ryzyka a rynek ubezpieczeniowy
Pandemia COVID-19 i nowe ryzyka a rynek ubezpieczeniowy
(The COVID-19 pandemics and new risks and the insurance market)
- Author(s):Wanda Ronka-Chmielowiec
- Language:Polish
- Subject(s):Economy, Supranational / Global Economy, Business Economy / Management, Micro-Economics, Socio-Economic Research
- Page Range:11-25
- No. of Pages:15
- Keywords:ryzyko;ubezpieczenie;rynek ubezpieczeń;COVID-19;ubezpieczenie na życie;zarządzanie ryzykiem;
- Summary/Abstract:The aim of this paper is to present the phenomenon of COVID-19 pandemics, which appeared in 2019 in many countries of the world and generated new risks hitherto unrecognised or already known and insured, which occurred to an increased extent. An attempt was then made to identify new tasks for insurance companies and to modify their existing offers or prepare new ones. The paper ends with a review of data from the Polish insurance market for the year 2020. The paper is a preliminary attempt to assess how the pandemic has affected the insurance market and how the insurance market has reacted to the new phenomenon.
Wpływ pandemii COVID-19 na rynek i efektywność ubezpieczeń na życie z ubezpieczeniowymi funduszami kapitałowymi
Wpływ pandemii COVID-19 na rynek i efektywność ubezpieczeń na życie z ubezpieczeniowymi funduszami kapitałowymi
(The impact of the COVid-19 pandemic on the market and effectiveness of life insurance with insurance capital funds)
- Author(s):Anna Ostrowska-Dankiewicz
- Language:Polish
- Subject(s):Economy, Supranational / Global Economy, Business Economy / Management, Micro-Economics, Financial Markets, Business Ethics, Socio-Economic Research
- Page Range:26-40
- No. of Pages:15
- Keywords:ubezpieczenie na życie;ubezpieczeniowe fundusze kapitałowe;COVID-19;efektywność inwestycji;
- Summary/Abstract:Insurance performs a variety of functions in the economy. Their basic task is to provide the insured with protection in case of occurrence of random events specified in the contract. Market practice shows that such a limited function of classic insurance proved to be insufficient, especially at the time when insurance products appeared which, in addition to their protective function, allow savings to be multiplied. Such products are life insurance with insurance capital funds. However, the emergence of the COVID-19 pandemic caused unexpected difficulties in the conduct of business by enterprises, including insurance companies. These difficulties manifested themselves in a periodic decline in premiums written, and in relation to life insurance with UFK also in a periodic deterioration of their effectiveness due to a slump in the financial markets. The aim of this paper is to present the impact of the COVID-19 pandemic on the market of life insurance linked with insurance capital funds and to discuss the trends in the volume of sales of life insurance with UFK and in the effectiveness of investments in insurance capital funds.
Analiza wyboru kanałów dystrybucji ubezpieczeń wśród gospodarstw domowych
Analiza wyboru kanałów dystrybucji ubezpieczeń wśród gospodarstw domowych
(Analysis of the selection of insurance distribution channels among households)
- Author(s):Agnieszka Samsel
- Language:Polish
- Subject(s):Economy, Supranational / Global Economy, Business Economy / Management, Micro-Economics, Marketing / Advertising, ICT Information and Communications Technologies, Business Ethics, Socio-Economic Research
- Page Range:41-52
- No. of Pages:12
- Keywords:podejmowanie decyzji;kanały dystrybucji ubezpieczeń;gospodarstwa domowe;ubezpieczenia;insurtech;
- Summary/Abstract:The aim of the article is to examine which distribution channels are most often used by households. Moreover, the opinions of households on the future functioning of insurers are verified, as well as the validity of the existence of insurance. The main hypothesis was that young people prefer remote contact with an insurance company. For the purposes of the study, 245 people were surveyed using a questionnaire (CAWI method). The research results are presented graphically in charts. An analysis of variance (ANOVA) was also performed. This analysis showed that there is statistical significance in a pair of variables: gender and the possibility of eliminating personal contact with the insurer, and in a pair of variables – gender and the need to insure.
DeFi na rynku ubezpieczeniowym
DeFi na rynku ubezpieczeniowym
(DeFi in the insurance market)
- Author(s):Robert Kurek
- Language:Polish
- Subject(s):Economy, Supranational / Global Economy, Business Economy / Management, Micro-Economics, Marketing / Advertising, ICT Information and Communications Technologies, Business Ethics, Socio-Economic Research
- Page Range:53-63
- No. of Pages:11
- Keywords:decentralizacja finansów;rynek ubezpieczeń;inteligentne umowy;blockchain;
- Summary/Abstract:The acceleration and intensification of digitization processes, i.e. the growing use of digital technologies and the reliance of a large part of the economy on the Internet, has begun to change the emphasis on the role and importance of traditional architecture in the financial market, including the financial intermediation market. DeFi, or “decentralized finance”, is a part of the main trend of these changes and they have also found their place on the insurance market. On the one hand, their presence may significantly change the shape of the insurance market due to the fact that the idea of DeFi indirectly means building services and products separate from the traditional financial system. DeFi insurance and alternative risk coverage have the potential to successfully fill the insurance coverage gap for crypto-assets and limit the risk exposure that accompanies entities active in a decentralized economy.
Pojęcie równowagi na konkurencyjnym rynku ubezpieczeń
Pojęcie równowagi na konkurencyjnym rynku ubezpieczeń
(The concept of equilibrium in the competitive insurance market)
- Author(s):Łukasz Kuryłowicz, Adam Śliwiński
- Language:Polish
- Subject(s):Economy, Supranational / Global Economy, Business Economy / Management, Micro-Economics, Marketing / Advertising, Business Ethics
- Page Range:64-82
- No. of Pages:19
- Keywords:równowaga rynkowa;rynek ubezpieczeń;rynek konkurencyjny;
- Summary/Abstract:The article shows the possibility of analyzing the insurance market by using the Rothschild–Stiglitz equilibrium model and its subsequent modifications. As an example the Polish market of compulsory third party liability insurance was used. The first part of the article describes this market, both in terms of its structure and the financial results of insurance companies operating in the group 10 of insurance. In the next part, the main focus is on describing the assumptions of the Rothschild–Stiglitz model both for the markets characterized by full common knowledge and those operating under the conditions of information asymmetry. In the last part, the authors used the Rothschild–Stiglitz model to simulate the market behavior after having introduced a new type of insurance contract which allowed access to information collected byon-board ADR recorders. The simulation showed that, in accordance with the model, the use of new technologies can bring the market closer to the state of equilibrium.
Instytucjonalne uwarunkowania niestabilności na rynku ubezpieczeń. Studium przypadku holdingu American International Group, Inc.
Instytucjonalne uwarunkowania niestabilności na rynku ubezpieczeń. Studium przypadku holdingu American International Group, Inc.
(Institutional determinants of instability in the insurance market: a case study of the holding company american International group, Inc.)
- Author(s):Lyubov Klapkiv, Faruk Ulgen
- Language:Polish
- Subject(s):Economy, Supranational / Global Economy, Business Economy / Management, Micro-Economics, Business Ethics, Socio-Economic Research
- Page Range:83-97
- No. of Pages:15
- Summary/Abstract:The aim of the article is to analyze the institutional conditions of instability that occurred on the insurance market during the global financial crisis (GFC) on the example of the American International Group, Inc. The global financial crisis of 2007–2008 called into question the ability of liberalized financial markets to function in a stable manner in the long term and questioned the positive contribution of financial innovation to economic development. Numerous and varied factors played a role in this process: low interest rates, easy and accessible credit, loose regulations, “toxic” mortgage loans leading to high-risk financial operations in innovative products. As a result of the crisis, attention has shifted to the banking sector as it has been the most important source of instability in the financial market. The insurance sector is usually considered a minor player in the financial market but clearly regulated. The total assets of European Union banks in 2019 accounted for EUR 49.3 trillion, and the total assets of the EU insurance sector: EUR 12,706.1 billion. However, the case of AIG shows that the role of insurance companies in generating and spreading financial instability is underestimated. It can also be concluded that the insurance sector in the United States of America still remains insufficiently regulated. The collapse of AIG was a combination of defects and violations in the regulatory mechanisms and the lack of appropriate legislation, which allowed for the appearance of certain elements of fraud in the functioning of the insurance market.
Wykorzystanie kaskad kopuli w agregacji ryzyka w procesie wyznaczania kapitałowych wymogów wypłacalności w Solvency II
Wykorzystanie kaskad kopuli w agregacji ryzyka w procesie wyznaczania kapitałowych wymogów wypłacalności w Solvency II
(The use of vine copula constructions in the process of determining solvency capital requirements in Solvency II)
- Author(s):Krystian Szczęsny
- Language:Polish
- Subject(s):Politics, Economy, Supranational / Global Economy, Business Economy / Management, Micro-Economics, EU-Accession / EU-DEvelopment, Marketing / Advertising, Business Ethics, Socio-Economic Research, EU-Legislation
- Page Range:98-117
- No. of Pages:20
- Keywords:dyrektywa Solvency II;kapitałowy wymóg wypłacalności;agregacja ryzyka;ubezpieczyciele;kaskady kopuli;
- Summary/Abstract:One of the basic aspects of the Solvency II Directive introduced in 2016 is the protection of the insured against the insolvency of insurance companies. For this purpose, by aggregating the solvency capital requirements for the specific types of risk to which the insurer is exposed, the solvency capital requirement (SCR) and the diversification effect (ED) are determined. Insurers are able to calculate the SCR using the Standard Formula given by the authors of the Directive or internal models developed by their insurance companies. The Standard Formula is based on the variance-covariance method, which assumes a constant correlation matrix that defines the relationships between aggregated risks to which the insurer is exposed. The aim of the research is to use, in internal models, pair-copula constructions in order to model the relationship between aggregated risk modules. The structure of the relationship between the aggregated risks is modeled with the use of C-vine and D-vine copula, while the range of possible SCRs resulting from various dependency modeling methods is determined using the ARA (Adaptive Rearrangement Algorithm). In the study, the author arbitrarily assumes loss distributions for the insurer’s five major risk modules, i.e. market, counterparty default, life, health, and non-life modules. The author compares the ED obtained by the variance-covariance method,the ED obtained with the use of copula and the ED corresponding to the upper limit of the SCR determined by the ARA algorithm. The conducted research shows how important in the SCR and ED determination process is the role played by the correct identification of the structure of the relationship between aggregated risks and presents the possibilities of using pair-copula constructions for this purpose.
Porządkowanie liniowe z wykorzystaniem wskaźników finansowych zakładów ubezpieczeń w Polsce
Porządkowanie liniowe z wykorzystaniem wskaźników finansowych zakładów ubezpieczeń w Polsce
(Linear ordering applied to financial indicators of insurance companies in Poland)
- Author(s):Anna Gierusz, Agnieszka Pobłocka
- Language:Polish
- Subject(s):Economy, Supranational / Global Economy, Business Economy / Management, Micro-Economics, Financial Markets, Marketing / Advertising, Socio-Economic Research
- Page Range:118-137
- No. of Pages:20
- Keywords:zakłady ubezpieczeń;porządkowanie liniowe;wskaźniki finansowe;
- Summary/Abstract:Insurance companies play a very important role of investors and stabilizers in the economy of a country and of the world. In Poland, in 2019, 58 insurance companies conducted insurance activities. How to rate/evaluate insurance companies, their financial condition, using many technical and economic indicators at the same time? How to choose diagnostic variables? How to build a ranking of insurance companies according to a specific aggregation criterion of selected insurance characteristics? The aim of the study is to assess the financial condition of insurance companies according to synthetic objective functions containing simultaneously many technical and economic insurance values. Secondary goal is to determine the hierarchy of the surveyed insurance companies according to one of the synthetic measures applied. For this purpose, one of the methods of multidimensional comparative analysis will be used–linear orderingfor pattern and non-pattern methods using set of insurance statistics from financial results published by The Polish Chamber of Insurance.
Obszary ryzyka w działalności małych i średnich przedsiębiorstw w Polsce
Obszary ryzyka w działalności małych i średnich przedsiębiorstw w Polsce
(Risk areas in the activity of small and medium-sized enterprises in Poland)
- Author(s):Robert Dankiewicz
- Language:Polish
- Subject(s):Economy, Supranational / Global Economy, Business Economy / Management, Micro-Economics, Energy and Environmental Studies, Economic policy, Environmental and Energy policy, Management and complex organizations, Economic development, EU-Accession / EU-DEvelopment, Marketing / Advertising, Business Ethics, Globalization, Socio-Economic Research
- Page Range:138-146
- No. of Pages:9
- Keywords:małe i średnie przedsiębiorstwa;ryzyko;zarządzanie ryzykiem;
- Summary/Abstract:The occurrence of risk in economic activity is a natural phenomenon that requires management aimed at limiting the impact of risk materialization on the situation of enterprises. This phenomenon refers also to small and medium-sized enterprises, which are an extremely key element for the economy both in terms of the number of such entities, their role in generating new jobs, but also the added value. Unfortunately, the problem of risk identification and management in SME companies is at a much lower level than in the case of large entities. Therefore,in the case of small and medium-sized enterprises it seems crucial to have a proper approach to risk identification and management, especially in times of intensive changes in the environment, which in turn may provide an opportunity for new areas of risk to appear. Studies have shown that entrepreneurs are slowly increasing their awareness of the possibility of the occurrence of various types of risk and their consequences, but this increase is often selective. However, this is the basis for the development of appropriate mechanisms and procedures that will allow to conduct business effectively and safely in a changing, often unpredictable environment in the future. The purpose of the study is an attempt to identify and assessthe various areas of risk encountered in the small and medium-sized enterprise sector and their importance.
Ocena procesu wycofania telefonu Samsung Galaxy Note 7 wobec braku ubezpieczenia kosztów wycofania produktu
Ocena procesu wycofania telefonu Samsung Galaxy Note 7 wobec braku ubezpieczenia kosztów wycofania produktu
(Assessment of the Samsung Galaxy Note 7 recall process against no recall insurance)
- Author(s):Antoni Szulc, Piotr Manikowski
- Language:Polish
- Subject(s):Economy, Supranational / Global Economy, Business Economy / Management, Micro-Economics, Financial Markets, Marketing / Advertising, Business Ethics, Socio-Economic Research
- Page Range:147-156
- No. of Pages:10
- Keywords:wycofanie produktu;Samsung Galaxy Note 7;ubezpieczenie;
- Summary/Abstract:In August 2016, the world spread the news that Samsung is struggling with the problem of exploding Samsung Galaxy Note 7 phones. As it turned out, the consumer electronics giant did not have or did not take advantage of the recall insurance, which resulted in significant financial and image losses. The recall of the product in this case also involved a disruption of the supply chain, the need to carry out an investigation and thorough product testing, and the disposal of hazardous devices. Each of the aforementioned activities could have been financed from the Product Recall Insurance. The purpose of this article is to evaluate Samsung’s Galaxy Note 7 recall process and provide an alternative scenario in which the manufacturer would use recall insurance. First, we will present the course of events and describe the reaction of the producer and his environment. Then we will determine the consequences that arose as a result of the defective devices, and finally we will present the benefits that would be provided to the South Korean manufacturer by appropriate safety equipment.
Integracja ubezpieczeń środowiskowych i systemów zarządzania środowiskowego według ISO 14001 – raport z badań
Integracja ubezpieczeń środowiskowych i systemów zarządzania środowiskowego według ISO 14001 – raport z badań
(Integration of environmental insurance and environmental management systems according to Iso 14001 – a research report)
- Author(s):Malwina Lemkowska
- Language:Polish
- Subject(s):Politics, Economy, Supranational / Global Economy, Business Economy / Management, Energy and Environmental Studies, Marxist economics, Economic policy, Environmental and Energy policy, Management and complex organizations, Economic development, Environmental interactions, EU-Accession / EU-DEvelopment, Marketing / Advertising, Business Ethics, Globalization, Socio-Economic Research, EU-Legislation
- Page Range:157-169
- No. of Pages:13
- Keywords:ubezpieczenia środowiskowe;systemy zarządzania środowiskowego;ISO 14001;normy;ryzyko środowiskowe;
- Summary/Abstract:The article is a summary of research on the actual and potential integration of environmental insurance and ISO 14001 environmental management systems (EMSs) in Poland. The aim ofthe research is to analyze the relationship of the above-mentioned instruments of environmental risk management and to identify the factors determining the propensity of enterprises to implement such elements of the system that will increase the usefulness of ISO 14001 standards for insurance purposes in the future. The data for the study were obtained through an asynchronous group interview conducted on the Bulletin Board platform among insurance sector experts and through a survey of organizations that implemented the ISO 14001 system in Poland. Template analysis of qualitative data, supported by narrative techniques and statistical analysis based on the chi-square test of independence, U Mann–Whitney test, Kruskal–Wallistest, Spearman’s rank correlation coefficient were used to interpret the data. Environmental management systems according to ISO 14001 are not, in their current form, used in the process of providing insurance cover for environmental risk. Organizations managed according to ISO14001 rarely design and implement solutions useful to insurers. The latter, however, are statistically significantly correlated with the awareness attributes of the organization. Awareness attributes were also strongly related with the variables describing the propensity to implement additional – useful for insurance purposes – EMSs elements. The strongest motivators for the above, however, were of a non-insurance nature (e.g. obtaining tax credit).
Zakończenie
Zakończenie
(Conclusions)
- Author(s):Malwina Lemkowska, Marcin Wojtkowiak
- Language:Polish
- Subject(s):Politics, Economy, Sociology, EU-Legislation
- Page Range:170-172
- No. of Pages:3