Developing a Model of Insurance Securitisation in Iranian Environmental Conditions

Mahshid Peivandi, Mehdi Zeynali (), Mahdi Salehi, Ali Paytakhti Oskooe and Younes Badavar Nahandi
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Mahshid Peivandi: Department of Management and Accounting, Tabriz Branch, Islamic Azad University, Tabriz 5157944533, Iran
Mehdi Zeynali: Department of Management and Accounting, Tabriz Branch, Islamic Azad University, Tabriz 5157944533, Iran
Mahdi Salehi: Department of Economics and Administrative Sciences, Ferdowsi University of Mashhad, Mashhad 9177948974, Iran
Ali Paytakhti Oskooe: Department of Economics, Tabriz Branch, Islamic Azad University, Tabriz 5157944533, Iran
Younes Badavar Nahandi: Department of Accounting, Tabriz Branch, Islamic Azad University, Tabriz 5157944533, Iran

JRFM, 2022, vol. 15, issue 11, 1-18

Abstract: As a growing industry in Iran, the insurance industry has dramatically grasped researchers’ and managers’ attention. Among the various issues in this industry, measuring and evaluating the efficiency and performance of its units and branches has always been considered by relevant experts because such evaluation can help us take adequate steps to improve this area. Through securitisation, insurance companies may mitigate the cost of their capital, increase the return on equity, and improve other metrics that affect their operating performance. Securitisation increases capital productivity in the insurance industry. Therefore, the present study was conducted in 2020 to review and develop a model of insurance securitisation in Iran. The present study is exploratory research. Thus, 13 experts and commentators in insurance securities were interviewed. Second, based on the theme analysis, the content of the interviews was analysed, and a proposed model was developed. Then, according to the obtained model, a questionnaire was designed and distributed among insurance industry experts. Two concepts of validity and reliability were used to validate the questionnaire. Based on the model, 10 main factors were identified as influencing insurance securitisation. Insurance securitisation, management of Iran’s environmental conditions, the role of the capital market in insurance, financing, economic development, optimal risk management, risk transfer process in insurance securitisation, investment culture, support of regulatory bodies and facilities in the securities issuance process, utilisation of technical knowledge and specialised human resources are the factors identified in the research. The results showed that all these factors identified from the interviews were confirmed, and the model was sufficiently valid.

Keywords: insurance equipment; emerging economy; theme analysis; factor analysis (search for similar items in EconPapers)
JEL-codes: C E F2 F3 G (search for similar items in EconPapers)
Date: 2022
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