Issue #1 (Volume 15 2024)

This research paper examines the correlation between underwriting profit factors and the overall profitability of publicly traded general insurance companies operating in South Africa. The study analyzed a sample of 36 insurers, considering their quantifiable markets and accessible financial data from 2008 to 2019. Employing signal correlation analysis, the investigation explored the associations between various financial indicators and Return on Assets (ROA). The results revealed negative correlations between ROA and the logarithms of total investment (TI), shareholder funds (SF), and underwriting profits (UWP), with correlation coefficients of –0.4500, –0.3365, and –0.4050, respectively. These findings indicate that as TI, SF, and UWP increase, there is a tendency for ROA to decrease for general insurance companies in South Africa. Furthermore, a positive relationship was observed between the earning-asset ratio and ROA. This suggests that as the earning-asset ratio rises, the ROA of general insurance firms in South Africa tends to improve, indicating a potentially favorable impact on profitability. The significant findings of this study emphasize the importance of prioritizing effective risk management practices within insurance firms. By implementing these measures, such as minimizing the likelihood of claims and ensuring accurate reflection of assumed risks in premium charges, insurance companies can maintain positive underwriting profit. This, in turn, has the potential to enhance their overall profitability.

Blockchain technology has surfaced as a formidable catalyst, capable of reshaping the operational dynamics of conventional businesses. The integration of blockchain technology within the insurance industry has prompted a need for comprehensive understanding and assessment. This study aims to elucidate the relevance of blockchain in the insurance sector, identify key trends, influential research, and the overarching goals motivating the incorporation of blockchain in insurance practices. The study employed a systematic review to collect 125 research articles published between 2017 and 2023 focused on blockchain in insurance from the Web of Science database. This study used Biblioshiny. The analysis encompasses a wide range of parameters, including publication trends, influential authors, thematic clusters, and the geographic distribution of research. IEEE Access emerges as a prominent platform, hosting 11 articles dedicated to this topic. The results of keyword co-occurrence highlighted two keywords: blockchain and insurance. The results of the country collaboration map highlighted particular shortcomings, such as the concentration of research in countries like China, the USA, India, KSA, Malaysia, and Australia. A lack of research in developing and underdeveloped countries and insufficient knowledge sharing among researchers highlights a research gap. In conclusion, the analysis offers valuable insights into the evolving landscape of blockchain within the insurance industry.

Nepal’s non-life insurance sector holds immense potential to drive economic growth and boost the nation towards a secure financial future. Embracing this potential is a goal and a pivotal catalyst for substantial change. The study aims to determine how the non-life insurance sector can drive economic growth in Nepal. The methodology of this study uses quantitative analysis of financial data from 2013 to 2022 from 20 non-life insurance companies in Nepal and econometric modeling to assess the sector’s impact on economic growth. Using Panel EGLS (Estimated Generalized Least Squares) regression analysis, the findings show that with one-unit increments in total investment, total premium, and total tax paid, GDP is expected to change by approximately 591.52, –920.54 and 8,470.65 units, respectively. In contrast, the coefficient for total profit is –910.3477 and is not statistically significant. The study’s main conclusion implies that the insurance sector contributes to the country’s economic growth by investing in productive activities and paying taxes to the government. Still, it also imposes a cost on the economy by charging high premiums to the insured. The profitability of the insurance sector does not affect the GDP, which indicates that the insurance sector is competitive and efficient or that other factors determine the GDP besides the insurance sector. This study contributes to a deeper understanding of the non-life insurance sector’s role in Nepal’s economic development and informs evidence-based policy decisions.