Lessons Learned Will Lead to Bright Future

MacDonald, Robert W.
March 2010
Best's Review;Mar2010, Vol. 110 Issue 11, p73
Trade Publication
The article discusses the importance of reflecting one's mistake to become successful in the chosen field. It cites the insurance industry wherein it stresses that the success of the industry depends on its ability to learn from mistakes. It further notes that insurance industry needs to make changes that will take it back to the future in a way that it could re-establish its financial principles as well as regain its credibility with the consumer.


Related Articles

  • Broker Fee Scandal Cost Risk Managers Credibility. McDonald, Caroline // National Underwriter / P&C;4/21/2006, Vol. 110 Issue 16, p26 

    The article reports on the negative impact of bid-rigging and contingency broker's fee scandal to the credibility of risk managers in the eyes of corporate insurance buyers in the U.S. Moreover, according to International Federation of Risk & Insurance Management Associations president Susan...

  • Consumer Perceptions of Islamic Insurance Companies in Brunei Darussalam. Bashir, Mohamed Sharif; Hj Mail, Nor Hafiizah // International Journal of Emerging Sciences;Sep2011, Vol. 1 Issue 3, p285 

    The takaful (Islamic insurance) industry has developed rapidly in Brunei Darussalam since its establishment in the early 1990s. It has emerged as an important component of the Islamic financial system in Brunei and competes with conventional insurance. Increases in total assets and gross total...

  • O APLICAÅ¢IE A MODELULUI DE RECURSIVITATE A CREDIBILITÄ‚Å¢II. ATANASIU, Virginia // Studii si Cercetari de Calcul Economic si Cibernetica Economica;2011, Vol. 45 Issue 3/4, p1 

    This is an original paper, which analyses some practical insurance problems of non-life insurance, with applications in the actuarial calculations that can be solved by means of credibility theory. Examples of the credibility results for the linearized premiums, as other applications for the...

  • IAA -- Educating Tomorrow's Actuaries.  // Asia Insurance Review;Oct2007, Vol. 8 Issue 10, p98 

    Information about actuaries in life and non-life insurance, regulatory work and actuarial education discussed at the 5th International Professional Meeting of Leaders of the Actuarial Profession and Actuarial Educators in Asia and the Pacific held in Bangkok, Thailand in September 2007 is...

  • Growing Your Disability Practice. Vasishtha, Preeti // Advisor Today;Jan/Feb2011, Vol. 106 Issue 1, p16 

    The article offers strategies for financial advisors to boost sales of disability income (DI) insurance in the U.S. It outlines seven steps which include remembering the stories from clients and prospects, changing the perception about the insurance, and thinking process than products. It states...

  • Risk Theory & Credibility. Sprague, Carolyn // Risk Theory & Credibility -- Research Starters Business;4/1/2018, p1 

    Risk theory and credibility can most easily be understood by breaking the topic down into two components: Risk theory and credibility theory. Both topics are theories studied by actuaries and insurers; risk theory deals with the financial impact of risk on an insurers overall insurance...

  • Model of Reserve for Long-Term Personal Insurance. Faizova, A. A. // Vestnik Sankt-Peterburgskogo Universiteta, Seriia 9: Filologia, ;2013, Issue 3, p150 

    In order to fulfill its liabilities, an insurance company forms insurance reserves. Its solvency and financial credibility depends on how precisely these reserves are calculated. It is essential to form reserve based on the actual rate of return, corresponding to investment of funds. In this...

  • New Year's Agency Resolutions. Walkotten, Wayne A. // National Underwriter / Property & Casualty Risk & Benefits Manag;1/13/2003, Vol. 107 Issue 2, p13 

    Presents a checklist to improve the financial health and customer satisfaction of insurance companies in the U.S. Minimization of the risk of employee embezzlement; Exercise of good underwriting habots; Development of profitable producer compensation programs.

  • Focusing on the customer. Klein, Mark M. // Best's Review / Property-Casualty Insurance Edition;Dec95, Vol. 96 Issue 8, p55 

    Reports that the concept of customer satisfaction is foreign to insurance companies. Confusion over customer identity; Inefficiencies in policy processing; Value of delivery.


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics