壽險公司(區域IA)在銀行通路之經營策略(以全球人壽與安泰銀行為例)

Stepping into the 21st century, Information Technology has reached a new era, and its market competition has become hotter than ever due to the request for higher standards. To all corporations, their means of survival is profits. The source for profits are customers; may it be business clients or individual consumers. Domestic insurance industry’s tactic on customer relationship has developed into using IT as a tool for Customer Relationship Management. 21st century is (e世代), naturally, the information technology is advancing into a powerful tool, but the merging of the (CRM) and (IT) has to first unify the company’s business strategies for it to be successful. New Information Technologies such as the Web、Internet、EC、Data Warehouse、Data Mining and IA has matured. They rely on strong interaction with the consumers to gain an edgy on the competition with other forms of communication. The goal of the company is to use the advantages that the IT provides so that it will stand out from the crowds. The aim of this research is to understanding the present commercial environment, for the enterprise to monitor the customer's demands regarding to the service, and the personnel's ability to provide the customers with necessary informations. it also attempts to create a modle to evaluate the quality of the system. It lets the company to understand why CRM went wronk, and how satisfied the customers are regarding to the system. The research concludes: -The system quality can affect the service personnels on the system useage and the system degree of satisfaction. -The information quality can affect the service personnels on the system useage and system degree of satisfaction -The service personnel's personal background factor?can also affect the service personnels on the system use and the system degree of satisfaction. -The degree of system useage can affect the service personnels on the degree of system satisfaction these findings may be used to supply other life insurance companies in the renewal, the development or reference to introduction of information system, they may also develop more appropriate insurance company information system with the information cooperation design

INSURANCE ISSUES IN LIVING KIDNEY DONATION We have undertaken a study to ascertain the perspective of U.K. insurance companies to provision of insurance to living kidney donors. WHICH (consumer guide) and customer directories were used to identify the major life and health insurance providers in the United Kingdom, who were then invited to complete specific questionnaires. The results were as follows: 14 life insurance companies, insuring approximately 6.5 million customers (79% of U.K. life insurance market), replied. When questioned regarding their policy if an existing customer should die during kidney donation, 13 of 14 stated that they would pay the agreed life insurance sum. One company did not provide an answer, as they had no experience of the situation and are currently deciding their position for future reference. No companies required to be informed by a customer of their intention to donate. Furthermore, all would accept new customers after previous kidney donation and would not charge an increased premium but indicated that time considerations since donation were a factor in assessing such customers (Table 1). Table 1: Time since living kidney donation for new customers considered relevant by life and health insurers in the United KingdomRegarding health insurance provision, seven major health insurance companies replied; however, one did not complete the questionnaire because they do not market new business. Of the remaining six companies, half cover existing customers for kidney donation. Should an existing customer require a transplant, one company would pay recipient medical expenses and would also pay donor costs if the recipient and donor were both policy holders. All companies accept new customers after previous kidney donation, although two of six stipulate that they exclude any problems arising from donation. Two of six charge an increased rate and four of six do not. Time since donation is considered to be relevant for new customers, as shown in Table 1. Insurance companies providing life insurance to almost 80% of the life insurance policy holders in the United Kingdom would honor the terms of their agreement should a customer die as a consequence of live kidney donation. Premiums are not raised; therefore, kidney donation has no long-term financial implications regarding life insurance. When considering new customers applying for insurance, there were significant inconsistencies among both life and health insurers in the amount of time postdonation that respondents considered relevant. Deaths associated with live kidney donation are rare but occur predominantly in the perioperative period, as do the great majority of complications (1,2), and so these time considerations could be considered to be without scientific foundation. It has been postulated that the increased life expectancy in donor populations may be attributed to exclusion of concomitant illness by the rigorous assessment (3–5). Considering this, the reluctance of certain health insurers to provide medical expenses for donors or sickness benefit is disappointing. Equally, it could be argued that life insurance premiums should actually be reduced postdonation. Kidney donation may have financial implications for health insurance; however, the long-term effects of this are minimized because of the current structure of the National Health Service in the United Kingdom. The inconsistencies in many aspects of insurance provision to live kidney donors highlight the necessity to share information and strive for evidence-based practice from insurance providers. Sarah Clarke Jennifer A. Lumsdaine Stephen J. Wigmore Murat Akyol John L. R. Forsythe

本文是以戰後臺灣壽險市場的發展為研究主題。臺灣壽險市場已是國際社會所稱保險成熟市場，但臺灣的死亡保障缺口卻未隨國人保費支出的增加而減少，反倒擴大。為了瞭解究竟是什麼因素造成臺灣壽險市場的獨特性，本文主張必須從影響市場結構之制度環境如何形成著手，並強調完整的市場研究需探討有關市場形成的兩個息息相關的制度化過程：（1）國家如何在本身所處制度環境中制訂正式規則？（2）市場行動者如何在國家所規範的正式規則中形成市場結構？本文預設國家與市場是兩個相互依賴的策略行動場域。這個預設具有兩個意涵。其一，本文的「國家自主性」不是國家不受社會羣體影響的自主性，而是鑲嵌於具體的社會關係中。但國家有可能因為組織形態，而使某個部門的政策意見相較於其他部門的政策意見更有機會被採納，因此，當政體結構與國際情勢有所變化，不同政治行動者在決策過程中的角色與權力也會有所變化。其二，在國家場域與市場場域（或稱非國家場域）中的行動者有所謂「在位者」與「挑戰者」之分，在位者或挑戰者為了促使其他行動者與他合作，會嘗試使其政策觀點成為政策選項之一，進而主導市場發展的走向。然而，儘管行動者會對「外在於」國家場域與非國家場域的歷史事件進行策略性詮釋與利用，使某個歷史事件成為影響政策制訂與市場發展的重要因素，行動者在推動某個政策時卻是基於自身短期的利益考量而非政策的長遠影響，以致政策發展的長遠結果往往是短期政治考量的副產品，或者即使政策制訂者確實是基於政策的長遠影響推動某個政策，卻也會因為有太多行動者參與其中、有太多政策制訂工作要持續進行，以致難以監督政策的實際成效而產出意想不到的政策結果（即市場發展）。 基於上述預設，本文以「威權主義」、「分配主義」、「重商主義」三個不同類型的發展型國家階段來表達國家自主性在不同時期的表現。同時，由於與壽險市場相關的政策議題非常多，限於篇幅，本文選擇以「保險資金運用」、「保險契約關係」、「保險通路管理」這三個政策議題，探討它們在這三個不同類型的發展型國家階段如何形成與發展，又如何經過市場行動者的運用，而為下一階段的政策變遷埋下伏筆。最後，本文亦透過考察每個階段的在位者與挑戰者，來瞭解行動者根據政策所發展出來的市場策略如何影響市場文化的形成。 研究結果發現，就經驗現象而言，臺灣壽險市場的獨特性不只與消費者的觀點及社會經濟的發展有關，亦與國家政策有關。更精準的說法是，社會經濟的發展會影響國家監理壽險市場的相關政策，消費者的觀點則是市場發展的結果。以本文一開始所指出的死亡保障缺口而論，死亡保障缺口隨著國民所得的提高反而擴大的原因多少與國家未以建立國人的保險觀念為政策選項有關，因壽險公司所採取與「保險資金運用」、「保險契約關係」、「保險通路管理」這三個議題相關的策略行動據此就以能夠達到快速累積資本的目的為優先考量，消費者觀點任由壽險公司形塑。就理論意涵而言，臺灣壽險市場的發展經驗清楚說明，國家與市場兩者密切互動。同時，「國家自主性」不能只從國家「獨斷性權力」與「基礎構造權力」的構成來判斷。更重要的是國家的「政策能力」。而國家的政策能力是建立在公民社會的健全之上。亦即，只要國家是個民主政體，公民社會始終對公共議題保持高度關注並採取相應的政治行動，國家與特定資本家或社會羣體之間的特殊關係不會產生只有利於特定資本家或社會羣體的政策發展，只要政策不是圖利特定資本家或社會羣體，市場發展的結果自然朝向有利於社會整體的方向進行。

Following the release of life insurance market in Taiwan, new companies and new products consistently made their appearances; however, life insurance industry confronted severe competition and challenges. As a result, the competition of traditional cost can no longer ensure the competitive advantage. In addition to satisfying the demand of diversified life insurance product, increasing the degree of customer satisfaction is the primary strategic direction in life insurance industry. Thus, this study aims at building and examining the conceptual structure of customer satisfaction in the insurance industry, including the antecedents, such as cognitive construct, affective construct and disconfirmation, and at building upon the satisfaction of postpurchase behavior, including loyalty and complaining behavior. The findings reveal that, affection and disconfirmation serves the best capability of explanation in customer satisfaction. Furthermore, the satisfaction positively correlates with the positive affection and disconfirmation, whereas negatively correlates with the negative affection, and in addition, positively correlates with repurchase intention and word-of-mouth; however, it has no correlation with the complaining behavior. Finally, the results of the empirical study reveal that positive affection tends to directly influence the word-of-mouth and complaining behavior, thus, the best strategy in the life insurance industry should be based on forming the invisibly specific assets with the customers, that is the positive affection, as to construct higher transformational barriers.

As technology advances, the pace of globalization accelerated in 2002, Taiwan formally joined the WTO, the restrictions have been removed, the industry becoming more and more intense competition, resulting in the era of low-profit businesses, the customer transaction process between short the relationship between customer loyalty culture is not easy, how to enhance customer loyalty and gain market leadership position to create a stable and more excess profits, the industry has become a key factor in successful. In recent years, as Taiwan's financial industry has transformed the financial services sector, who also face many competitors, financial product homogeneity is high and decress many restrictions, with the trend of international capital, but also experienced the Asian financial crisis in a century financial tsunami, in another transformation into a risk-free fee income of the bank wealth management business be greatly affected. So how to enhance corporation image and restore the trust of customers is the urgent issue. Banking and wealth management businesses in particular rely on the maintenance of customer relations, to develop customized marketing and services to enhance customer loyalty, increase profitability of banks. In this study, the subjects for the Taipei area of wealth management customers to sample survey conducted to explore the banks corporate image, relationship marketing, commitment to customer loyalty relevance, by the analysis results of the industry as a bank of wealth management marketing. The results of empirical analysis, this study found that：(1) wealth management business in the Taipei area between customer main emphasis on the domestic banks and investment are more average proportions, and amounts, showing most of the customers business or finance emphasis on domestic banks, in major banks and investment ratio between the amount of customers also large the space to work on. The customer’s trust the bank the higher proportion of investment and higher. (2) Customers better perceived image of banks and bank-customer relationship marketing more closely, it will increase the long-term relations will, when the customer contacts the bank the better the overall experience, the banks meet the individual needs of relationship marketing, in the transaction process will be reduced the uncertainty of each other, would effectively increase the bank's trust and commitment with customers, thus increasing long-term relations will. (3) When customers have long-term contacts and firm commitments with the bank, that will incrence the long-term customer loyalty. Finally, this study suggests: to enhance customer loyalty must be to maintain and improve good corporate image, in the course of dealing with customers, developing marketing strategies in different segments, and use customer relationship management information system to establish the integration of sales and service strategy, the integration of business information used as reference to further expand the business to develop and maintain long-term customer relationships will enhance the long-term customer loyalty.

The article is aimed at researching the main indicators of the activities of insurance companies in Ukraine and determining their role in the structure of credit system. Generalizing scientific works on the research issues of the functioning of non-bank financial and credit institutions as a whole and insurance companies in particular, the authors determine the need to study certain issues of development of insurance market actors at the present stage (namely, indicators of the activities of insurance companies) and define their place in the credit system. Analyzing the dynamics and structure of the assets of the credit system in the context of its components – the banking and parabanking system, the bank-centric model of the financial market is determined, because the main share in the assets of the credit system is occupied by the assets of banking institutions. It is determined that financial and insurance companies play a significant role in the functioning of the credit system of Ukraine among parabanking institutions. The analysis of the main indicators of the activity of insurance companies and the dynamics of their number is carried out. It is found that despite the decrease in the number of insurance companies in dynamics, the volumes of gross insurance premiums and gross insurance payments are characterized by positive growing trends. Factors influencing such changes are the exit from the market of unreliable and financially insolvent insurers; change of views on life insurance, assets and liability, as well as an active development of partnerships with foreign counterparties and the emergence of insurance companies with foreign capital on the domestic market. The article also provides a rating of insurance companies by assets at the end of 2020 and defines their share in the assets of the credit system in general. Prospects for further research are to distinguish the main reasons for the downturn in the number of insurers and their impact on the state of the financial services market as a whole.

Fixed rate, premiums and insurance coverage for policyholders and insurance companies in traditional life insurance have increased certain risks. For this reason, we consider studying variable life insurance. The biggest difference between the two insurance is that whether the actual death benefit of volatility is changeable. This paper studied the change of the premium when the premium changes in proportion to the death benefit and when it is fixed. And, it put forward a way to pay the death benefit, named “pay off increasing amount insurance”. Finally, this paper simulated the mean and variance of the death benefit using Monte Carlo method, and also compared the advantage and disadvantages of each approach.

이 글은 보험사의 감정노동 관리전략과 보험설계사들의 감정노동 수행전략에 대한 경험적 연구이다. 보험설계사는 독립사업자 신분의 특수고용직 종사자로서 관리자들로부터 직접적으로 작업지시를 받지 않고, 노동행위가 이루어지는 공간은 유동적이다. 이러한 조건에서 보험사는 관리자의 통제력이 미치지 못하는 상황에서도 설계사들이 조직의 규율에 따라 감정노동을 수행하도록 유인하는 관리전략을 활용한다. 보험사는 회사의 관리 방식을 따르는 것이 설계사들의 직업적 성취와 직결됨을 강조하면서 설계사들이 자발적으로 감정표현규칙을 준수하여 직무를 수행하도록 동기를 부여하고자 한다. 그것을 위해 설계사들의 외양과 자아 정체성을 조직에서 기대하는 방향으로 변모시켜 그들의 사적 자아를 조직이 제시하는 직업적 자아에 일치시키고자 한다. 그러나 실제 보험설계사들이 수행하는 감정노동은 조직의 요구를 전면적으로 수용하기 보다는 개별 설계사들의 사적 자아와 조직의 요구가 협상된 결과로 수행된다. 이를 통해 설계사들은 감정부조화나 불일치를 최소화 하고 자아를 유지하려 한다. 그러나 설계사들이 자신의 진정성과 정체성을 지키려는 의지는 그들의 내면에 더 깊이 개입하려는 조직에 의해 지속적으로 손상된다. 이 연구는 보험사의 감정노동 관리 전략을 감정표현규칙의 형식과 내용, 관리통제의 방식 및 성격을 중심으로 논의하고, 보험설계사들이 실제 노동과정에서 조직의 요구와 관리 전략을 어떻게 인식하고, 감정노동을 수행하는지를 제시하였다.

Introduction. Life insurance arises from the need for individuals to provide financial protection and security for themselves and their families. It can be used as a tool for accumulating financial resources and as a means of pension planning. Life insurance in Ukraine remains less developed compared to other European countries due to low confidence in insurance companies, a difficult economic situation in the country, and the lack of proper legislative regulation in this area of insurance. Problem Statement. The increasing proportion of elderly people, according to demographic projections, determines the corresponding requirements for reforming primarily the social security sphere, and life insurance could become one of the effective ways of supplemental social security. Purpose. To highlight the potentialities of using life insurance as supplemental social security. Methods. We used general scientific and special methods, i.e. analysis, synthesis, grouping, description, comparison, theoretical generalization, and abstract-logical methods. Results. It is emphasized that life insurance inherently aims at additional protection and support of the financial and social welfare of the population. It is noted that in most developed countries, life insurance is integrated into the social security system. It is proved that life insurance in Ukraine is not a mandatory part of the social security system, but is available on a voluntary basis through insurance companies. The number of insured citizens and life insurance contracts concluded by life insurers in Ukraine during the last 5 years has been analyzed. Research of the voluntary life insurance market in Ukraine has been conducted and an overview of the programs offered by insurance companies according to the classes of insurance has been made. Conclusions. Life insurance as an opportunity for supplemental social security has a significant potential in our country. However, the impact of some negative factors, in particular, military aggression, and an underdeveloped stock market hinders the development of the voluntary life insurance market and the possibility to expand the share of the insured population of our country. Taking into account statistics, which are aggravated by the military situation in the country, there is a need for clearly defined legislative conditions for the use of life insurance as a supplemental method of social security.

This thesis investigates three comprehensive research issues in the context of five selected Association of Southeast Asian Nations (ASEAN) banking markets (Indonesia, Malaysia, the Philippines, Thailand and Vietnam) during the period 1998-2010. This study is motivated by the extensive restructuring efforts that took place in the aftermath of the Asian Financial Crisis (AFC) which has shaped the banking behaviour in ASEAN countries to enable them to sustain their financial systems’ stability. As a result of the crisis, banks adopted several strategies in response to various structural and policy changes and, therefore, there were vast effects on banks’ behaviour following the AFC and pre and post the Global Financial Crisis (GFC) period. The first empirical study of this thesis investigates the impact of market power on credit risk, revenue diversification and bank stability. The findings suggest that bank market power is positively associated with credit risk and revenue diversification. Nevertheless, these associations diminished during the GFC, implying that banks with greater market power were able to better manage their non-performing loans during the crisis period. Bank stability, however, is not associated with market power. Instead, it is found to be a negative function of state-ownership, asset composition and banking freedom. Overall, even though ASEAN banks with greater market power have higher credit risk, they are more diversified thus leaving their overall bank risk unaffected. The second empirical study examines the association between net interest margin, revenue diversification and risk-adjusted profitability. The findings suggest a two-way association between net interest margin and revenue diversification. The results denote a significant inverse relationship in the period 1998-2002, indicating subsidisation between interest and fee-generating business in the aftermath of the crisis. For the latter part of the sample (2003-2010), a positive association has been reported for net interest margin and revenue diversification implying that non-interest income does not necessarily increase with the detriment of the net interest margin. The findings reveal that diversification benefits exist for the same sub-sample period i.e. after the Basel II regulations came into force around 2003. The results also suggest that in the aftermath of both crises, risk adjusted profitability declined as banks had limited scope to diversify their sources of revenue. Overall, ASEAN banks have evolved over time, moving from the worsening risk-return trade-off to the beginnings of the benefits of diversification. The third empirical study investigates the influence of the cost of deposits, market power and the business cycle on the bank capital buffer determination. The findings imply that the capital buffer is positively associated with the cost of deposits, bank market power and the business cycle. The findings indicate that the higher the cost of deposits and the greater their market power, banks tend to hold a greater capital buffer. Furthermore, the capital buffer can vary pro-cyclically with the business cycle suggesting that banks can increase their capital buffers by expanding through various lending during economic upturns which will provide opportunities for banks to make use of this excess capital during recessions. Further, the findings suggest that the banking sector can contribute to the performance of the economy if they hold sufficient buffers and retain a healthy flow of credit when the economy is in crisis. This analysis provides some insight into ASEAN banks’ response to Basel III, which indicates that these banks will find it much harder to comply with the new regulations. This study contributes to the literature through providing evidence of the ASEAN banks’ diverse responses in the aftermath of the AFC and pre- and post-GFC with regard to the research issues. In addition, this thesis adds to the limited, but fast growing, literature on bank market power by using an improved version of the Lerner index in the form of a Funding adjusted Lerner index. Regarding the methodology, unlike other studies, this thesis extends the literature by addressing endogeneity by employing the GMM method for estimation. In addition, this thesis is includes a broader set of bank-specific, country-specific and industry-specific determinants together to address the research issues. Apart from the academic contributions, this thesis offers several implications for bankers, shareholders and regulators. The regional focus of the analysis provides useful insights for ASEAN banks for future policy formulation involving bank market power, credit risk, revenue diversification, bank stability, net interest margin, cost of deposits and the business cycle, given the restructured banking system in the region.

The enthusiasm of the Indonesian people for social media makes digital marketing strategies an important factor to increase brand strength through improving the company's postitf image. Social media is a place for companies to form positive online perceptions and reputations. This condition is the basis for research to find out how the consistency of positive reputation is on the financial performance of insurance companies in Indonesia. The relationship between the Digital Reputation Index (IRD) on the financial performance of insurance companies (gross premiums, productivity ratio and company profit) was analyzed based on data from 12 life insurance companies and 12 conventional general insurance companies respectively. The Spearman correlation test resulted in a significant positive directional relationship for the Digital Reputation Index to gross premiums (for life and general insurance companies). A non-significant positive directional relationship between the Digital Reputation Index and the Productivity Ratio (life and general insurance). A non-significant positive directional relationship between the Digital Reputation Index and the profits of life insurance companies while a significant positive relationship occurs with the profits of general insurance companies.

Efforts to formulate legislation designed to tax the income of various types of life insurance companies have encountered difficult and complex problems. This article enumerates several of these problems and describes four alternative forms of life insurance company income tax legislation: U.S. Treasury's 1958 proposal for a total income tax base, Lent's proposal for a total income plus reserve interest tax base, the 1959 Act and a revised version of the 1959 Act. potential impact of each alternative tax law is systematically analyzed by means of a computer simulation technique. results suggest that certain laws would create inter-company inequities as well as industry financial chaos. history of life insurance company income tax legislation reveals the complex problems involved in designing a tax law which will simultaneously generate adequate amounts of revenue while treating all life insurance companies equitably. Early attempts2 to apply a total income Andrew F. Whitman, Ph.D., is Assistant Professor of Insurance in the University of Minnesota. He has served as part-time instructor in Pennsylvania State University, as Technical Assistant in the Wisconsin State Insurance Department, as a State Farm Fellow and Teaching Assistant in the University of Wisconsin, and as a Traveler's Research Fellow. earlier article by Dr. Whitman on taxation of insurance companies appeared in this Journal. Howard E. Thompson, Ph.D., is Associate Professor of Business in the Graduate School of Business of the University of Wisconsin. From 1957 to 1961, Dr. Thompson served as Mathematician and Operations Research Analyst at the A. 0. Smith Corporation. His earlier articles have been published in Management Science, the Journal of the Academy of Management, and this Journal. This paper was presented at the 1967 Annual Meeting of A.R.I.A. 1 research for this study was sponsored in part by Ford Foundation, National Science Foundation through the Graduate School of the University of Wisconsin, and the Research Department of Travelers Insurance Company. or corporate income tax approach to life insurance companies were abandoned3 in 2 From 1909 to 1921 the method of determining the income tax base for life insurance companies was substantially the same as that imposed on companies not in the insurance business. Between 1913 and 1921, premium income, investment income, and capital gains were included in gross taxable income. deductions from gross income included the following items: tax-exempt interest, dividends on policies for which premiums were currently paid, operating expenses, current payments on policies, and net additions to policy reserves. Corporation Enactment of 1909 was reenacted in the Revenue Acts of 1913, 1916, 1917, and 1918. For life insurance companies, Tax rates started at 1 per cent in 1909 and gradually increased to 12 per cent in 1918; Allen L. Mayerson, The Life Insurance Company Income Act of 1959, CLU Journal, XIV, No. 2 (Spring, 1960) p. 172. 3 For statements of the reasons for abandoning the corporate or total income tax base which taxes both life insurance company investment income and underwriting gain, see House Report No. 350, 67th Congress, 1st Sess., p. 20; T. S. Adams, Advisor to the Treasury, Senate Committee on Finance, Hearings on H. R. 8245, 67th Congress, 1st Sess. (Washington U.S. Gover ment Printing Office, 1921); Robert T. Collins, The Federal Taxation of Insurance Companies (unpublished Ph.D. dissertation, University of Southern California, 1954) pp. 142-66; Barnie E. Abelle, An Evaluation of the Life Insurance Company Income Act of 1959, (unpub-

This research paper presents a comparative study of selected private life insurance companies in India using the CARAMEL model. Tawheed B. (2016) The macro-level analysis of the performance of the Life Insurance Corporation (LIC) in India provides valuable insights into its operational efficiency and societal impact. The study focuses on HDFC Life Insurance, ICICI Prudential Life Insurance, SBI Life Insurance, and Max Life Insurance, representing a significant portion of the private life insurance market. The CARAMEL model, which encompasses Capital Adequacy, Asset Quality, Risk Management, Earnings, Market Perception, and Liquidity, serves as a comprehensive framework for evaluating the financial health and performance of these insurance companies. Trivedi S. (2016) The study on risk management tools and techniques in life insurance in India aims to provide valuable insights into developing effective tools for life insurers to analyze customer risks. This research endeavors to conduct a comparative study of three leading private life insurance companies in India: HDFC Life Insurance, ICICI Prudential Life Insurance, and SBI Life Insurance. The findings indicate that HDFC Life Insurance exhibits superior Capital Adequacy, positioning it favorably in terms of protecting policyholders and promoting financial system stability. Max Life Insurance demonstrates better Asset Quality, reflecting its strong financial health and risk management capabilities. All the selected companies show effective risk management practices, which contribute to their financial stability and resilience. SBI Life Insurance is a top performer in Management Soundness, Earnings and Profitability, and Liquidity ratios, highlighting its operational efficiency, profitability, and financial resilience. Madhuri T. and Rao N. (2020) has evaluated the financial performance of selected Indian life insurance companies using the CARAMEL model. Recommendations of the paper suggested LIC's capital position and underwriting expenses while urging private insurers to enhance liquidity for timely liability fulfillment. The study provides valuable insights for regulators, investors, and other stakeholders, supporting informed decision-making and promoting overall stability and sustainability in the insurance industry.

Corporate governance is one of the key sustainability indicators to manage and control the business functions ethically and transparently. This mechanism is essential in every sector, specifically in the insurance landscape, to strategically meet uncertain risk & losses and the interest of policyholders. This study examines the corporate governance practices followed by the life and non-life insurance industry in India and its effect on the financial performance of insurers. To provide empirical results of the study, we considered corporate governance as independent variables, financial performance as dependent variables, and control variables for validation and reliability of the results. Secondary data was collected from a sample of ten insurance companies, including five life and five non-life insurers, for 10 years from 2014 to 2023, and implied descriptive statistics, t-tests, and regression models were used for analysis purposes. The result reveals that across the life and non-life insurers, unified governance mechanisms are followed, but it substantially influences the financial performance of life insurance more significantly than the non-life insurance sector. The reasons behind that are that life insurance premiums are held for a long period of time and also certainty to assure claim settlement in the form of death or maturity. So, the life insurance industry requires formulating more stringent governance mechanisms that sustainably address unstable operations and performance landscapes. The outcome of this study would structure robust governance norms, which would eventually enhance Indian insurers’ performance sustainably and discover the insight contributions of this field of research in an emerging economy scenario.

The issue of employee motivation is related to successful business management. Human resources represent a great potential, because they have knowledge, inventiveness and intelligence. However, a large part of human potential is not used to a sufficient degree, which leads to unused resources and to dissatisfaction and lack of motivation on the part of employees. Good motivation is part of leadership; a manager knows how to motivate and create good relationships. Business entities are part of society, and to achieve economic goals, they must take into account the impact that they have on society and on the human resources of an organization. This paper explains contemporary motivational theories, with the aim of enabling successful business in banking sector. Managers of banks can make decisions about the most significant factors that improve employee motivation. Integrated knowledge, accumulated experience, and employee satisfaction are the main factors behind successful operations in all organizations, and in particular in the banking sector. These factors form a basis for the successful management strategy of any company. The paper presents an overview of motivation in countries whose organizational culture differs with respect to the scope of operations and employees in the banking sector. The first part of the paper gives an overview of motivational theories based on the presentation and comparison of motivational factors in Pakistan, South Asian countries, and Croatia and Serbia. In evaluating motivation for ranking purposes a comparison method was applied, with the use of arithmetic means, while the data obtained from respondents’ questionnaires were processed using the SPSS 22 statistical method. The authors aimed to make a modest contribution in assessing motivational factors and to point to their significance in the banking sector. Better motivated employees in the banking sector are more efficient in carrying out business tasks.