• Journal of the Korean Data and Information Science Society
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• v.27 no.5
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• pp.1337-1347
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• 2016

This study investigates factors affecting the number of insurance solicitor's turnovers of life insurance companies based on questionnaire about them. Since the response variable which is the number of insurance solicitor's turnovers is count data, it is analyzed by Poisson regression which is one of generalized regression. When work year in current company, which is direct influential factor on the number of insurance solicitor's turnovers, is controlled, affiliated corporation has been found to be the most influential factor. In addition, age, motivation to work as financial planner, monthly income, a number of average new contract per month, and final education have been identified to be important factors. If insurance solicitor's occupant organization is large company, the number of turnovers becomes small, but if the organization is general agent(GA), it becomes larger. When insurance solicitor's age is high, the number of insurance solicitor's turnovers are reduced. If the motivation to become a financial planner is due to acquaintance such as family and relatives, the number of turnovers becomes small.

• The Korean Journal of Financial Management
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• v.25 no.4
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• pp.183-212
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• 2008

The purpose of this paper is to analyze the efficiency change and determinants of the korean non-life insurance companies. we use DEA (Data Envelopment Analysis) model to measure company efficiency change and use GLS, Tobit model, FIixed effect model, Random effect model, GMM to measure efficiency determinants. we utilize ten non-life insurance companies in korea and the panel data for five from 2001 to 2005. The empirical results show the following findings. First, technical efficiency shows that approximately 15.5% of inefficiency exists on the non-life insurance companies and it reveals that the cause for technical inefficiency is due to scale inefficiency. Second, Dea Window results show that the stable dissimilarity by standard deviation, LDP of CCR. Third, the results of efficiency determinants show that increase efficiency is depend on the premium income and real estates.

• Journal of Digital Convergence
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• v.17 no.11
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• pp.201-206
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• 2019

While many users searched for insurance information online, there were not many cases of contents recommendation researches on insurance companies' websites. Therefore, this study proposed a page recommendation system with high possibility of preference to users by utilizing page visit history of insurance companies' websites. Data was collected by using client-side storage that occurs when using a web browser. Collaborative filtering was applied to research as a recommendation technique. As a result of experiment, we showed good performance in item-based collaborative (IBCF) based on Jaccard index using binary data which means visit or not. In the future, it will be possible to implement a content recommendation system that matches the marketing strategy when used in a company by studying recommendation technology that weights items.

• Communications for Statistical Applications and Methods
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• v.24 no.3
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• pp.211-226
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• 2017

The chain-ladder method, for which run-off data is employed is popularly used in the rate-adjustment and loss-reserving practices of non-life-insurance and health-insurance companies. The method is applicable when the underlying assumption of a consistent development pattern is in regards to a cumulative loss payment after the occurrence of an insurance event. In this study, a modified chain-ladder algorithm is proposed for when the assumption is considered to be only partially appropriate for the given run-off data. The concept of a structural-change point in the run-off data and its reflection in the estimation of unpaid loss amounts are discussed with numerical illustrations. Experience data from private health insurance coverage in Korea were analyzed based on the suggested method. The performance in estimation of loss reserve was also compared with traditional approaches. We present evidence in this paper that shows that a reflection of a structural-change point in the chain-ladder method can improve the risk management of the relevant insurance products. The suggested method is expected to be utilized easily in actuarial practice as the algorithm is straightforward.

• Health Policy and Management
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• v.15 no.3
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• pp.79-93
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• 2005

The purpose of the study is to identify Ambulatory Care Sensitive Conditions (ACSC) and their potential health insurance applicability in Korea, using the correlation and regression analysis with the empirical data provided by Korean Health Insurance Review Agency(KHIRA). Here, ACSC would be thought of as conditions that when timely and effectively treated in the outpatient medical services can help reduce the risk of hospitalizations. As for ACSC, reducing accessibility for outpatient visit results in increasing hospitalization. In this respect, the ACSC concept is popularly adopted as one of the performance indicators of the national health system. As one of main results, fortifying the accessibility to necessary health care in a way of sharing appropriately the role with private health insurance can lead to the efficiency of national health care delivery systems in view of total health care expense, in particular in a case of ACSC children. Lastly, we would like to strongly suggest that the disease treatment data set reported to KHIRA needs to be opened to private insurance companies only for illness experience investigation.

• Journal of Auto-vehicle Safety Association
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• v.13 no.4
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• pp.53-59
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• 2021

According to the Korean Traffic Accident Analysis System (TAAS), more than 200,000 traffic accidents occur every year. Also, the statistics including auto insurance companies data show 1.3 million traffic accidents. In the case of TAAS, the types of traffic accidents are simply divided into four; frontal collision, side collision, rear collision, and rollover. However, more detailed information is needed to assess for advanced driver assist systems at intersections. For example, directional information is needed, such as whether the vehicle in the car accident way in a straight or a left turn, etc. This study intends to redefine the type of accident with the more clear driving direction and path by referring to the Negligence standards used in automobile insurance accidents. The standards largely divide five categories of car-to-car/motorcycle /pedestrian/cyclist, and highway, and the each category is classified into dozens of types by status of the traffic signal, conflict situations. In order to present more various accident types for auto insurance accidents, the standards are reclassified driving direction and path of vehicles from crash situations. In results, the car-to-car accidents are classified into 33 accident types, car-to-pedestrian accidents have 19 accident types, car-to-motorcycle accidents have 38 accident types, and car-to-cyclist accidents are derived into 26 types.

• The Korean Journal of Air & Space Law and Policy
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• v.32 no.1
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• pp.385-417
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• 2017

Insurances of space activities are divided into satellite insurance, astronaut insurance and third party liability insurance. Against the background of the rapid development of space commercialization, especially the increasing participation of private entities in space affairs, the present international and domestic mechanisms of space insurance are challenged. As a space-faring state which is in the process of developing space businesses, the regulations of space insurance in China are deserved to be discussed. Satellites insurance is at present well-developed, the "pre-launch", "launch" and "in-orbit" phases of satellites are all possible to be insured by related companies. China created the CAIA in 1997 to provide insurance for Chinese satellites. However, with more private entities start to involve in space as well as satellite industry, the regime established under the framework of CAIA is necessary to be modified, and the mechanism relating to space insurance brokers should be promoted. The astronauts are recognized as the envoy of humankind, and relevant international regulations are made to provide assistance to them in emergency circumstances. From the domestic perspective, astronauts will be fully insured. China creates a particular type of insurance for astronauts. However, once space tourism becomes a business, the insurance of the tourist will be demanded to be created. In order to promote China's space tourism, it is recommended to take the "Astronaut Group Insurance" as an optional model to space tourists, if the tourists are customers of a governmental-owned space company. Once private involvement of providing orbital/suborbital tourism service becomes a reality, new rules are required. Getting a third party liability insurance is deemed as an indispensable precondition for an applicant to get a launch permission. Domestic space laws will include provisions for the third party liability insurance. China's "Interim Measures" of 2002 realizes the importance of third party liability insurance and requires the permit holder to get it before entering the launching site. This regulation is different from the practices of other states. Concerning that China is the sponsor of APSCO, for the purpose of promoting commercial space cooperation, a harmonized approach to domestic law is recommended to be found.

• The Journal of the Korea Contents Association
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• v.21 no.6
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• pp.588-597
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• 2021

In Korea, the standard for calculating the profit of a general insurance, which constitutes the loading in the premium, is not specified, and most of the non-life insurance companies reflect 2~5% of the premium as profit margin. Although the transparency of pricing is required due to the nature of insurance products, there are insufficient standards and empirical studies on the determination of insurance price factors in the domestic insurance industry. In this study, we propose a method of calculating the expected profit margin of general insurance. A way for calculating the expected profit margin of the general insurance is to reflect the shareholder demand on the capital that the insurance company should secure against the risk of loss due to the profit/loss volatility, as a ratio to the insurance premium. Shareholders should be compensated for the risks associated with their insurance operations, and the opportunity cost of these shareholders is to be reflected in premiums. In this study, we calculate the amount of capital that the company should accumulate to prepare insurance risk for each product, and insurance risk is defined as the volatility of insurance operating profit/loss. And insurance risk is calculated using stochastic simulation based on Dynamic Financial Analysis (DFA) methodology. Finally, we calculate the expected profit margins for 25 products and analyzed the difference between those and the profit ratio of domestic general insurance.

• The Journal of The Korea Institute of Intelligent Transport Systems
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• v.19 no.6
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• pp.144-151
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• 2020

The number of drones used in various fields expected to 50,000 commercial drones by 2026. is to purchase business liability insurance only for commercial drones, as the scope of use of drones expands, it necessary to improve the drone insurance system, which imposes legal obligations aircraft duties. In particular, due to the diversification of aircraft characteristics of drones, an insurance system according to the degree of risk is required. To this end, a survey on the current status of drone operation in Korea, a review of documents related to drone insurance at home and abroad, collection and analysis of drone-related data, insurance systems for each transportation method, and analysis of data on overseas drone insurance products. o derive an improvement plan for the drone insurance system for drone insurance by aircraft characteristics and operation missions, and establish insurance standards by aircraft characteristics and operation missions, derive implications through required insurance surveys by sector such as users, users, and insurance companies. Detailed insurance standards were established by calculating the degree of risk according to the physical characteristics of the aircraft, and the liability for damage according to the operation mission was specified.

• Journal of Venture Innovation
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• v.5 no.3
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• pp.19-40
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• 2022

The purpose of this study is to analyze and evaluate the role and merits and demerits of insurance agencies, which are the main sales channels of the domestic insurance market, from a neutral standpoint, and to present a roadmap by finding ways and tasks for the sustainable development of the insurance agency industry. Recently, criticisms and regulations on independent distribution channels have been strengthened due to deterioration in growth potential and profitability, and increase in civil complaints of insurance companies. In the 2000s, as the center of insurance sales channels shifted to GA and bancassurance, the supervisory authorities regarded the irrationality of project costs and recruitment fees as the root causes and announced a regulatory improvement plan. In view of these circumstance, the operating status, problems of domestic insurance agencies and their contribution to the insurance industry were reviewed. In addition, we tried to find a mid-to-long term development plan by analyzing the case of insurance agency operation in Japan. This study identified the operating status and contribution of insurance agencies in South Korea, and focused on the major status of the Japanese insurance agency industry, ways to improve management efficiency, and the status and role of self-regulatory organizations for insurance agencies. Based on this, it was proposed to improve the professionalism of the sales organization, introduce a company specializing in insurance sales, and to strengthen the status of the association of the insurance agency as for the development plan of the insurance agency industry in South Korea.