2020
DOI: 10.14254/2071-8330.2020/13-1/14
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General trends and competitiveness of Australian life insurance industry

Abstract: This paper considers financial and economic indicators of Australian life insurance industry. The analysis shows the main characteristics of the current life insurance market in Australia and its factors (determinants) that will guide the life insurance market in the future. The authors have defined and calculated the main indicators of competitiveness for Australian life insurance industry (growth rates of the life insurers number'; density of insurance; penetration rates; concentration ratios; Herfindahl-Hir… Show more

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Cited by 6 publications
(4 citation statements)
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“…The result is a quota that aims to operationalize firm density and industry networks in a region. This measure is commonly used in entrepreneurial literature [127][128][129]. The variable, startups, counts enterprise birth rates in each region between 2018 and 2020.…”
Section: Independent Variablesmentioning
confidence: 99%
“…The result is a quota that aims to operationalize firm density and industry networks in a region. This measure is commonly used in entrepreneurial literature [127][128][129]. The variable, startups, counts enterprise birth rates in each region between 2018 and 2020.…”
Section: Independent Variablesmentioning
confidence: 99%
“…According to KPMG's life insurance insights 2020, Australian life insurance companies premium revenue decreased by 6.1% to $17.3 billion, compared to approximately $18.4 billion per annum for the 2017 to 2019 period [3]. Moreover, according to Arych, Mykhailo, and Walter Darcy [8], approximately 21%-36% of life insurance claims involve factors of suspected fraud, but only 3% of them are prosecuted. Although researchers have invested great effort to conquer the problem of insurance claims and risk management using various effective risk management methods, these methods are often inadequate to handle the claim and risk management problems [35,16,31,23].…”
Section: Insurance Claims and Risk Managementmentioning
confidence: 99%
“…As social protection of population is closely related to economy and its determinants, researchers analysed its system as a mechanism to stimulate the economic development (Malyovanyi et al, 2018). According to Arych and Darcy (2020) the life insurance industry is one of the most important and powerful tools for social and economic welfare. The insurance demand has been examined empirically for more than 50 years internationally (Liebertberg et al, 2012).…”
Section: Literature Reviewmentioning
confidence: 99%