Innovations in Risk Management as Exemplified by the Polish Insurance Market
DOI:
https://doi.org/10.6000/1929-7092.2013.02.28Keywords:
Innovation, cost management, risk management insuranceAbstract
The era of knowledge based economy, which the world is dynamically entering, reveals many new factors and necessities which a modern company needs to consider and cope with if it wishes to stay on in business. The innovativeness of business activity, in a broad meaning of the word, is an area of significant factors. Holistically, one may ask about the borders of innovation applied in business. Are they determined by: the actual needs of end consumers and as a consequence the needs of companies participating in the chain of value delivered to these customers or primarily the actual needs to earn on corporate investments on the customer value chain?
This paper analyses the problem of management of innovation programmes and projects introduced by companies from the microeconomic perspective. Its main aim is to show a new approach to innovation cost management and the innovation activity of the insurance sector in Poland. The paper consists of two sections. The first one describes innovation cost management. Innovative companies should be supported by the insurance sector. They should also apply knowledge and appropriately analyse and allocate costs within the algorithms of behaviour compliant with the risk management. The second section analyses the Polish insurance sector with the Multivariate Statistical Analysis. The paper ends with the conclusions with regard to the insurance sector. The examination of the sector shows that the insurance market in Poland in the analysed period was not innovative and it did not create innovation supporting services (and it is where the insurance risk appears due to the financial aspects of innovation).References
Bac. M. 2009. Zarzadzanie ryzykiem katastroficznym w nieruchomosciach. Rozwiazania ubezpieczeniowe w Polsce i na swiecie, Torun. DOM ORGANIZATORA.
Balicka D., ”Umowa ubezpieczenia zdrowotnego, materia?y z konferencji Umowa ubezpieczenia zdrowotnego”, Serock
Bulletin of the Commission on Insurance Terminology of the American Risk and Insurance Association, Vol. 2, No. 1, March 1966.
Boniecki M., Grabowski R. Parametry charakteryzujace innowacje, [in:] Karmanska A. ed. 2007. Zarzadzanie kosztami jakosci, logistyki, innowacji, ochrony srodowiska, Warsaw: Difin.
Czapinski J., Panek T. ed. 2009. Diagnoza spoleczna 2009. Warunki i jakosc zycia Polakow. Warsaw: Rada Monitoringu Spolecznego.
Doan O. ed. 1996. Ubezpieczenia zyciowe, Warsaw: Poltext.
Fal D. 2008. Ubezpieczenia zdrowotne - miejsce i rola w opiece zdrowotnej w Polsce. Trendy, prognozy, przyszlosc. VI Insurance Forum, September 24.
Geppert. E. 1971 “Problem ryzyk wielkich i katastrofalnych.” Wiadomosci Ubezpieczeniowe. No. 1.
Grovas S.V.P. 2008. “A Credit Risk Model To Develop The Credit Insurance Market.” Journal of Business & Economics Research” Vol. 6, No. 7. pp. 139-146.
Michalski T., Go?ebiowska E. 1996. “Taxonomy Methods in Credit Risk Evaluation”. International Advances in Economics Research, Vol.2, No.4, pp. 409-412.
http://dx.doi.org/10.1007/BF02295465
Sliwinski A. 2002. Ryzyko ubezpieczeniowe. Taryfy – Budowa i optymalizacja. Warsaw: Poltext.
Wanat-Po?ec E. ed. Metodologia analizy finansowej zak?adow ubezpieczen. Departament Analiz Systemu ubezpieczeniowego, Warsaw: PUNU.
Wierzbicka E. ed. 2008. Ubezpieczenia osobowe. Warsaw: Wolters Kluwer.
Willett A.H. 1951. The Economic Theory of Risk and Insurance, Philadelphia: The University of Pennsylvania Press.
Vaughan E. F., Voughan T. Fundamentals of Risk and Insurance. Eight Edition: John Wiley & Sons.
Zietz N. 2003. “An Examination of the Demand for Life Insurance.” Risk Management and Insurance Review 6(2): 159-191.
http://dx.doi.org/10.1046/J.1098-1616.2003.030.x
Balicka D., ”Umowa ubezpieczenia zdrowotnego, materia?y z konferencji Umowa ubezpieczenia zdrowotnego”, Serock
Bulletin of the Commission on Insurance Terminology of the American Risk and Insurance Association, Vol. 2, No. 1, March 1966.
Boniecki M., Grabowski R. Parametry charakteryzujace innowacje, [in:] Karmanska A. ed. 2007. Zarzadzanie kosztami jakosci, logistyki, innowacji, ochrony srodowiska, Warsaw: Difin.
Czapinski J., Panek T. ed. 2009. Diagnoza spoleczna 2009. Warunki i jakosc zycia Polakow. Warsaw: Rada Monitoringu Spolecznego.
Doan O. ed. 1996. Ubezpieczenia zyciowe, Warsaw: Poltext.
Fal D. 2008. Ubezpieczenia zdrowotne - miejsce i rola w opiece zdrowotnej w Polsce. Trendy, prognozy, przyszlosc. VI Insurance Forum, September 24.
Geppert. E. 1971 “Problem ryzyk wielkich i katastrofalnych.” Wiadomosci Ubezpieczeniowe. No. 1.
Grovas S.V.P. 2008. “A Credit Risk Model To Develop The Credit Insurance Market.” Journal of Business & Economics Research” Vol. 6, No. 7. pp. 139-146.
Michalski T., Go?ebiowska E. 1996. “Taxonomy Methods in Credit Risk Evaluation”. International Advances in Economics Research, Vol.2, No.4, pp. 409-412.
http://dx.doi.org/10.1007/BF02295465
Sliwinski A. 2002. Ryzyko ubezpieczeniowe. Taryfy – Budowa i optymalizacja. Warsaw: Poltext.
Wanat-Po?ec E. ed. Metodologia analizy finansowej zak?adow ubezpieczen. Departament Analiz Systemu ubezpieczeniowego, Warsaw: PUNU.
Wierzbicka E. ed. 2008. Ubezpieczenia osobowe. Warsaw: Wolters Kluwer.
Willett A.H. 1951. The Economic Theory of Risk and Insurance, Philadelphia: The University of Pennsylvania Press.
Vaughan E. F., Voughan T. Fundamentals of Risk and Insurance. Eight Edition: John Wiley & Sons.
Zietz N. 2003. “An Examination of the Demand for Life Insurance.” Risk Management and Insurance Review 6(2): 159-191.
http://dx.doi.org/10.1046/J.1098-1616.2003.030.x
Published
2013-11-13
How to Cite
ÅšliwiÅ„ski, A., Michalski, T., & KarmaÅ„ska, A. (2013). Innovations in Risk Management as Exemplified by the Polish Insurance Market. Journal of Reviews on Global Economics, 2, 407–415. https://doi.org/10.6000/1929-7092.2013.02.28
Issue
Section
Articles
License
Policy for Journals/Articles with Open Access
Authors who publish with this journal agree to the following terms:
- Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.
- Authors are permitted and encouraged to post links to their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work
Policy for Journals / Manuscript with Paid Access
Authors who publish with this journal agree to the following terms:
- Publisher retain copyright .
- Authors are permitted and encouraged to post links to their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work .
