Quantitative Techniques of Mitsui Sumitomo and Asahi Insurance Companies

Quantitative Techniques of Mitsui Sumitomo and Asahi Insurance Companies Introduction Objective The research seeks to establish the impacts of group variables, performance variables, and independent variables on the performance and profitability of Mitsui Sumitomo and Asahi insurance companies.Advertising We will write a custom term paper sample on Quantitative Techniques of Mitsui Sumitomo and Asahi Insurance Companies specifically for you for only $16.05 $11/page Learn More Overview of the companies under study Mitsuisumitomo insurance company is involved in domestic non life insurance. Moreover, it participates in global life insurance, risk cover, and finance generating activities or businesses. It has over time countered hindrances to growth with anticipation of becoming one of the leading companies in non life insurance industry. It has endeavored to commit itself in offering one of the highest quality services with the main target of establishing a sure breakthrough to growth as an insurance company meeting anticipated glo bal standards. Asahi mutual life insurance company is also another player in the insurance industry in Japan. It currently stands as one of the largest life insurance companies in Japan. It has extended its services to countries like China to sell it life insurance policies. In addition, it offers group operations to China. This has greatly increased demand of it services in China. However, the company involves in, performance appraisal to meet global standards. Conceptual model The profitability and performance of insurance company is determined by the following factors, (Embley 134): Operation factors claim settlement with minimal disputes companies infrastructure such as buildings, road information dissemination through agents and brokers customer satisfaction Organizational factors staff qualifications adaptability to market trends involvement in community projects rates of return on investments Others government policies legality of the practices competition sampling varia bility Conceptual model on the effects of staff qualification on claim settlement in insurance companies. Literature review Independent variable is a characteristic which is manipulated by a researcher in case of an experiment or case study in order to identify its effects in another variable mostly dependent variable(Embley 134).Advertising Looking for term paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More A dependent variable or orientation variable is the characteristic which the researcher studies to record the effects of the independent variable on the conceptual model; (McArdle at al 279) staff qualification is the independent variable since the researcher seeks to establish the effects of staff qualification on time, service evaluation, and amount of settlement to be made in case of a claim by the insured. Therefore claim settlement is dependent on staff qualification or competence level (Willer 79). Figure 1 Qualified staff is the independent variable; the researcher manipulates staff competences to find out the impacts on the dependent variables. Qualified staff enables the brokers and agents to get relevant and factual information regarding the company. Therefore, they are able to influence the potential customers to the companies (Willer 79). Moreover, the information disseminated by brokers and agents is thoroughly scrutinized. Availability of adequate information regarding a company to customers boosts the customers awareness this in turn increases customer confidence. The customers are able to sell companies policies to other potential customers. This results to the increased number of the customer to the company. Advertising We will write a custom term paper sample on Quantitative Techniques of Mitsui Sumitomo and Asahi Insurance Companies specifically for you for only $16.05 $11/page Learn More Regression analyses The above questionnaire was issued to the respondents who are either customers or potential customers to the two insurance companies. That is Asahi and Mutsui insurance companies. There were twenty respondents on the study.3.2 data collected (Chatterjee and Hadi 8). questions X1 X2 X3 X4 X5 1 4 3 6 5 2 2 3 5 2 7 3 3 0 4 2 8 6 4 1 7 2 3 6 5 6 3 2 5 4 6 6 0 4 8 2 7 2 6 5 3 4 8 1 9 3 5 2 9 5 3 1 6 8 10 4 5 5 2 The above data represent the study results of company one (Mutsui life insurance) Summation = 1+2+3+4+5+6+7+8+9+10 =Æ ©55 Number of observations = 10 Mean Æ ©55/10 =5.5 PF1 =F1(X1, X2, X3, X4, X5) (Cameron and Trivedi l 239). r=Æ ©(x1-5.5) +(x2-5.5) +†¦Ã¢â‚¬ ¦..+(x5-5.5)/î ©(x1-5.5)2 +†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. (x5-5.5)2Advertising Looking for term paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Æ © =(x1. Hoboken: Wiley, 2012. Web. Embley, David W. Handbook of Conceptual Modeling: Theory, Practice, and Research Challenges. Berlin: Springer, 2011. Print. Lane, Jan-Erik. The Public Sector: Concepts, Models and Approaches. London [u.a.: SAGE, 2000. Print. McArdle, William D, Frank I. Katch, and Victor L. Katch. Essentials of Exercise Physiology.Baltimore, Mar: Lippincott Williams Wilkins, 2006. Print. Willer, Mirna. Unimarc Manual: Authorities Format. München: Saur, 2009. Prin Yan, Xin, and Xiaogang Su. Linear Regression Analysis: Theory and Computing. Singapore: World Scientific Pub. Co, 2009. Web..