Insurance is based on specific assumptions, including a perfect performance model. The principle of indem-nification, mentioned in almost all insurance textbooks for non-life insurance, is ...nevertheless far more com-plicated than economists perception. This complexity is a consequence of actuarial fairness and legal rulesoften being violated in practice. Thanks to the development of the methodology, the assumption of perfectperformance has never been closer to reality. If we add the consumers perspective, the outlook of insuranceperformance becomes interesting. The paper examines assumptions related to the performance of insurancecontracts made as part of economic insurance models, namely the legal indemnification principle and thetheoretical concept of uncertain indemnity, both seen from a consumers angle. The discussion further relatesto the concept of probabilistic insurance. The main goal is to measure under- and overperformance of insur-ance coverage. This paper invokes many qualitative and quantitative studies performed since 2012 to findevidence of the subjective perspective of under- and overperformance and full performance, within non-lifevoluntary comprehensive car insurance. Detailed research on comprehensive car insurance in Poland revealedthe simultaneous presence of full performance, under- and overperformance. This phenomenon is knownto practitioners, but its scale is unknown. A statistically significant difference exists between the more likelyunderperformance and the less likely overperformance. Underperformance is an outcome of inadequatecoverage. Furthermore, the research outcomes suggest that uncertain indemnity should not be consideredrandom as there is an asymmetry toward underperformance, at least from the subjective perspective ofpolicyholders.
New technologies in the financial industry: case of Poland Iwanicz-Drozdowska, Magorzata; Cichowicz, Ewa; Cicirko, Marianna ...
Economics and Business Review/The Poznań University of Economics Review,
10/2023, Volume:
9, Issue:
3
Journal Article
Peer reviewed
Open access
This study evaluates the scope and consequences of the application of new technologies (NTs) within the Polish banking and insurance sectors and thus contributes to the knowledge of CEE financial ...market development. The goal is to understand the implementation of particular NTs in two different sectors and identify the motivations, strategies, phases of realisation and cost efficiency depending on the institutions size. The detail of the study requires the use of qualitative research methods. In-depth interviews are employed to figure out the criteria based on which decisions to implement NTs are made. The findings indicate that the primary objective of NT implementation is to respond to customers needs, followed by cost-cutting and achieving more efficient internal processes. The application of artificial intelligence (AI) and machine learning (ML) in risk management areas is still a work in progress. In the next five years cloud computing is expected to become the most important NT and thus will have to meet numerous regulatory requirements.
The concept of income security is almost 80 years old but its implementation, nevertheless, poses a serious social security problem. How is this problem seen today by those most concerned, family ...households? What is the perception of contingencies listed in the International Labour Organization’s (ILO) recommendation? Human responses to risk (behaviour under risk) depend primarily on a perception of risk and disability risk is not different in this respect. It is a major social risk, a part of the list of social risks, and tends to be critical due to financialization and liabilities. This paper aims to find determinants for differences in the perception of disability risk in Poland. The research covers particular determinants and employs qualitative and quantitative methods to analyse such determinants. The qualitative study suggests that the risk of disability is not a primary consideration. The perception of that risk seems to be diverse. Pending liabilities are perceived as arising primarily due to unemployment rather than the lack of fitness for work. An analysis of quantitative data shows statistical importance of chosen determinants (gender, experience regarding disability within family, age, the level of education, and self-estimation of financial situation). However, their significance is limited. Age and education level seem to be most prospective. Young and highly educated people tend to perceive disability risk as relatively low. These are also the people who face the most significant financial consequences of disability.
Since 1990s, substantial changes in the role of the state in the social security schemes can be observed in the countries of the Central and Eastern Europe (CEE). While the general framework of ...social benefits in the CEE countries is still defined by the state, more and more often the task of provision of social security is transferred to the private entities. Such privatization of social policy makes the need for protection mechanism and some state guarantees even stronger. It is still the state that is responsible for the final outcome of social security systems so that is why governments are directly providing or indirectly creating safety mechanisms built-in the private market mechanism used for social purposes. The paper surveys various types of the protection mechanisms in selected CEE countries that exist in the important and already most privatized element of the social security system – the pension system. While describing the safety measures and possible guarantees, special attention is paid to the new forms that have been built up recently. The paper covers both mandatory and voluntary pension markets and identifies present and possible threats in the existing frameworks that can harm the social security. The paper concludes with general assessment and policy recommendations.
The considerations and research results presented in this study concern the application of private insurance protection into the social security system. The article presents the theoretical ...assumptions of the concept of additional social insurance and argumentation for introducing appropriate solutions, referring to given categories of social risks. It is assumed that social security is a social good, not a pure public good, and therefore, its provision should be financed to a certain extent from private funds. As a general rule, in financing the social security system, public funds must dominate. Instead, the possibility of appropriate involvement of private funds in providing social security should be considered, which can be expected primarily from better-placed households. Against this background, based on the results of qualitative and quantitative research, attention is paid to the possible interest in financial preferences, which would encourage households to use additional insurance. Disseminating solutions in which family households should also apply for an appropriate level of social security, it is necessary to ensure public awareness of social risk and precautionary caution, as well as effective social communication in this area. It would allow gaining the desired social acceptance (or at least social acceptance) for the successive introduction of the social security concept into the social security system.
Plant species that are capable of propagating clonally are expected to be less vulnerable to habitat fragmentation due to their long life span.
Cypripedium calceolus
L. is a rare, clonal, long-lived ...orchid species. It has suffered marked decline because of habitat loss and fragmentation and over-collection, yet an IUCN report on this species does not regard fragmentation as a major threat to the species. We applied 13 nuclear microsatellites and cpDNA sequences to identify the patterns of population structure, genetic diversity and connectivity of six remnant local populations of
C. calceolus
in highly fragmented Gdańsk Pomerania region (N Poland). Despite severe (80%) loss of localities in the studied area we found that the local populations retain high levels of clonal (R 0.86–1) and genetic diversity (H
e
= 0.572). However, their differentiation is relatively high (
F
ST
= 0.132 for nuclear SSR and
F
ST
= 0.363 for cpDNA) despite close geographic proximity (0.6–57 km). Bayesian clustering classified populations according to their geographic origin with little admixture. Low genetic connectivity between the remnant populations shows that the current gene flow is too low to serve as a cohesive force in a fragmented habitat, which may impede a quick response to environmental change. The species’ ability to retain ancestral variation may help withstand fragmentation, but in the light of observed extirpation rate it should be rather considered as a factor that only delays local populations’ extinction. This leads to the conclusion that habitat loss and fragmentation should be regarded as a real threat to stability of
C. calcelolus
populations.
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