پژوهشنامه بیمه
سال سی و ششم شماره 4 (زمستان 1400)

This study investigates the relationship between the variables of financial health status and earnings volatility with the audit report lag in the insurance industry. Weak in financial health indicators can increase the likelihood of a company going bankrupt and expose the auditor to greater audit risk. Therefore, in such circumstances, it is necessary for the auditor to increase the scope of his proceedings and, by documenting the evidence, provide the necessary preparation and ability to defend his opinion against any possible future complaint. The natural result will be longer operating times and lag in issuing audit reports.Auditors may also consider higher or lower levels of earnings volatility as additional risk. On the one hand, more earnings volatility are less predictable; Therefore, there is likely to be a significant discrepancy between the auditor's expectation of earnings and the amount of earnings that the employer generates, and in these circumstances it may be challenging to make reliable accounting estimates; Especially estimates that face a lot of uncertainty. Auditors, on the other hand, may consider less earnings volatility as an additional risk; Because auditors' inference from fluctuating profits is aware of the risks of profit management.Because previous research has shown that lag in the audit report are a reasonable measure of an auditor's effort, if auditors view the firm's financial health and earnings volatility as an effective risk and adjust their efforts to respond to those risks, then are expected to have the firm's financial health indicators and also, the company's earnings indicators a significant relationship with the audit report lag. In this regard, Altman z score and risk-based capital ratios are considered as indicators of financial health and standard deviation of earnings during the five-year period and the percentage of annual changes in Dividend Per Share (DPS), as indicators of earnings volatility.This study has been able to participate in the development of research in this field by using several innovations. First, considering the important role of insurance companies in the development and economic security of societies, it has examined the factors affecting on the audit report lag (with emphasis on financial health indicators and earnings volatility) in this industry. Second, it contributes to timely financial reporting by showing that earnings volatility can affect on audit report lag. The results of this study help auditors better estimate audit risk by providing evidence that more earnings volatility as a sign of increased risk that requires additional audit effort. Also, using the risk-based capital criterion and Altman z3 score, which is specific to service companies, has attracted the attention of stakeholders and researchers to the specific financial health indicators suitable for insurance companies in examining related issues. This study can be considered by a wide range of stakeholders in the timeliness of financial reporting of insurance companies, such as insurance industry investors, insurers, managers, legislators, auditors and academics.

The statistical population of the study includes all insurance companies listed on the Tehran Stock Exchange and the OTC Iran. Due to the limited number of companies and the years of presence of these companies in the Iranian capital market, all available society that had the necessary conditions to conduct research have been studied. The test of research hypotheses was performed using ordinary least squares regression on the data of insurance companies listed on the stock exchange and over-the-counter, which provides a total of 51 observations of the company-year during the period 2017 to 2019.

Although there is a reasonable expectation that the financial health status of companies - especially in the insurance industry - will be considered by auditors and will be considered in assessing audit risks and planning the necessary efforts to perform audit operations; However, the findings indicate that the selected financial health indicators do not have a significant effect on the audit report lag. In addition, the findings show that the explanatory power of Altman z-score variables and the risk-based capital ratios are not significantly different from each other in terms of audit report lag.The results of the test of earnings volatility indices show that both indices of standard deviation of earnings during the five-year period and the percentage of annual changes in earnings per share have a positive effect on the audit report lag; The difference is that the percentage of annual changes in Dividend Per Share has a lower error level.

The results may indicate auditors' possible disregard for an important factor in corporate financial health; But there is a different interpretation, and that is the same situation of companies in terms of financial health. In other words, if the same economic reality exists for the companies under study, the researcher will make a measurement error and the results will not be inferred. Using the criterion set in the Altman model, only two Reinsurance companies are recognized as financially qualified and have a value of 1. The same is true of the risk-based capital ratios of insurance companies. Contrary to Altman Z's scores, most insurance companies have the risk-based capital ratios of more than 100% over the years, and have earned the first level of financial wealth. However, according to insurance standards in some countries (including the United States), the capital Ratio for insurance companies is considered 200%. If the insurance legislators in our country require a ratio of 200%, the results of the risk-based capital ratios will be similar to the Altman z score and only 4 insurance companies will be recognized as having financial health conditions. Finally, our interpretation of the results of this study is that in terms of accurate financial health indicators, most Iranian insurance companies have insufficient capital to cover their accepted risks, and Therefore, auditors are aware of this issue and have considered this issue in planning their audit operations. The fact that the average audit report lag in this industry is too high compared to other industries is a proof of this claim.

Customer performance is an important factor in achieving the competitive advantage for companies and is affected by various factors. Customer performance is drawing a clear picture of the diverse needs and wants of customers that increase through communication with customers. It includes attracting new customers, retaining existing customers, and increasing customer satisfaction and loyalty. This study aims to investigate the effect of organizational culture on customer performance with emphasis on the role of business intelligence. Variables such as knowledge management, organizational learning, systems thinking, organizational open-mindedness, and customer relationship management have also been examined.

The present study is applied in nature and is a descriptive survey in terms of purpose and data collection. It is conducted using the mixed-method (qualitative and quantitative). In this study, a two-stage exploration plan has been used. This design is used when the researcher needs to develop such a tool due to the lack of research tools. The researcher first examines the research topic qualitatively with several participants, then uses qualitative findings as a guide for compiling questions and scales of the quantitative survey tools. In the second stage of data collection, the researcher implements and validates these tools in a quantitative way. The statistical population for the qualitative part of the study includes university professors familiar with the subject (Has related scientific, research, and experimental records). The statistical population for the quantitative part of the study includes the customers and personnel of the insurance units of Iran, Asia, Dana, and Alborz branches in Tehran. The sampling method is random disproportionate classification. An interview guide and a questionnaire was used for collecting qualitative and quantitative data respectively. The face and content validity of the questionnaire was confirmed by experts, and its convergence validity was confirmed by the statistical methods. The questionnaire’s construct validity was assessed using confirmatory factor analysis. The reliability of the questionnaire was assessed using Cronbach's alpha coefficient. Four criteria have been used to assure the quality of the reserach. Researchers have been involved with the topic for a long time, the data was reviewed and controlled by colleagues and participants [Credibility]; The environment and participants, and the study data were described in detail at the data collection stage [transferability]; All stages of activities such as research findings and how to interpret them have recorded [Confirmability]; All interviews were recorded, and written copies were made, data and methods were documented by the researchers [Dependability]. The two-coder intra-subject agreement method was used to ensure more reliability. Content analysis was used for data analysis. Data was analyzed by PLS and SPSS softwares.

According to the results of the interviews, three components were identified to measure the organizational open-mindedness variable, including exchange of knowledge and skills, clarification, and no prejudice (Impartiality). The present research findings indicate that Organizational culture influences customer performance through business intelligence and other mediating variables. Organizational culture affects knowledge management, organizational learning, and business intelligence. Knowledge management affects organizational learning, systems thinking, business intelligence, and customer relationship management. Organizational learning affects systems thinking, organizational open-mindedness, and customer relationship management. Systems thinking affects customer relationship management and business intelligence. Organizational open-mindedness affects business intelligence. Business intelligence affects customer relationship management and customer performance. Customer relationship management affects customer performance. Nevertheless, the effect of knowledge management on organizational open-mindedness, the effect of organizational learning on business intelligence, and the effect of organizational open-mindedness on customer relationship management were rejected.

Organizations, especially service organizations, should pay special attention to organizational culture. Competitive conditions are constantly changing, changes occur quickly, and the needs and wants of customers are affected and changed. If the company fails to adapt to the changing conditions of competition, it will be doomed to failure. Therefore, customer orientation must be institutionalized in the culture of the organization and be understood by all employees. In general, it can be said that the stronger an organization has a learning culture and its employees are more learning and better able to face competitive conditions, the more successful it is in communicating with customers and can get a better knowledge of customers, identify their needs faster and perform better in gaining a competitive advantage.

A qualitative study of what is the human dignity of employees in organizations and identifying factors affecting human dignity and its consequences on employees in the workplace is one of the concerns that we face in the present era. Having committed human resources is a measure of competitive advantage for an organisation. It highlights the organization’s brand in the society and leads to its growth and development. Employees who are not committed to their organizations, they do not try to achieve their organizational goals. They are not effective in creating a useful culture. It may lead to an indifferent culture among employees towards the issues and problems of the organization. These negative consequences blocks an organization to achieve its goals.  In today’s world, managers might assume that using a new management software and hardware, they can increase their organization’s efficiency. However, experts believe that it is the human resources that ultimately determine the economic and social development of a country, not only the capital or other material resources. Extensive studies conducted in several countries have shown that the most important factor toward a company’s growth is its human resource development. This cannot be achieved except by accommodating the principles of human relations, out of which respect is one of the most vital elements.  The success of organizations depend on creating the strategic capability by ensuring the presence of skilled, committed and motivated employees in the organizations. Especially when those employees are scarce and unimitable and they are considered as creative people. With such descriptions, maintaining the best employees is more difficult than attracting them. Striving for maintaining human resources is not possible without knowing the important things that motivate them. Today's organizations pay a lot of attention to their employees. The experience has shown that the more the material (external) needs are satisfied, the more their psychological (internal) needs are satisfied. Failure to meet those needs significantly reduces employees’ performance and motivation and their willingness to work will be reduced. Commitment also leads to productivity as it promotes an individual's compatibility with the organization, increases individual creativity and efficient utilization of human resources. The most important factor in the development of organizations is the development of human resources by considering the principles of human relations, the most important of which is respect for human dignity and spiritual values. Hence, the main purpose of this study is to explore the human dignity and its antecedents and consequences for employees.

A qualitative approach was chosen for this study. The sample group was selected from the employees of insurance companies. The research was conducted by interviewing the sample group in Kish Island. The Data was analysed using MAXQDA software and content analysis method. First, descriptive and demographic data were presented and then qualitative analysis was discussed in six stages. The meaningful propositions were identified, the basic themes were extracted, the organizing themes were identified. and 8 comprehensive themes were developed . Then, a network of themes was drawn and finally the relationships between the themes in the network of drawn themes were described.

The eight identified key areas are as (1) short-term relationships versus long-term relationships; (2) mutual relationship between employees and the business environment of an organization; (3) multiplicity of success criteria; (4) promoting welfare, health and livelihood of employees; (5) employee empowerment; (6) spiritual management of employees; (7) management of performance and development of employees; and (8) development and an organizational culture based on ccustomer-orientation. The theme of employee empowerment in the organization shows that employees should be given responsibility and authority to be able to make decisions about their specific tasks. Factors that affect employees’ empowerment are identified in this theme. In order to maintain employees’ human dignity, they should have the necessary capabilities to perform their work activities to avoid job criticism. They should be protected and their human dignity should be preserved by receiving encouragement and promotion. Indicators of employee empowerment include employee participation in decision-making and timely payment of salaries. Employees also have a better sense of doing their job by creating a customer-oriented organizational culture with customer satisfaction of employees. It also, preserves employees’ human dignity outside of the organization. Customers reciprocally respect those employees that respect them, thus preserving employees' human dignity. Indicators identified in this research include not dealing with issues personally, corporate social responsibility, responsibility, ethical principles and serving to the people.

The results of the study showed that the most significant factors that initiate human dignity are spiritual management of employees, developing an organizational culture based on customer orientation, bilateral relationship between employees and the business environment, multiplicity of success criteria and short-term versus long-term relationships. The most important consequences are performance management, employee development, employee empowerment as well as improving their welfare, and health. Performance management is done to identify, measure and develop the performance of individuals and groups and coordinate performance with the strategic goals of the organization. Employee development includes activities that affect employees’ personal and career growth. Leading employees to do the right thing and train them to get things done can prepare them for the right job. Performance management and development indicators include work ambiguity, importance of employees for managers, giving importance to employees' work and holding training courses and specialization of work.

The development of insurance technology in the Iranian insurance industry and its acceptance by customers increase insurance penetration and reduce violations and frauds, as well as costs. Despite the growth in the number of internet and app users, Insurance startups have a small share in the premiums produced. The necessity to conduct this research is quite clear owing to the importance of technology acceptance in the insurance industry and the role of startups in countries’ GDP. An investigation of readiness to accept InsurTech is a critical challenge that should be considered when implementing any type of technology. Therefore, the success of insurance startups is not limited to the industry’s authority, but it also includes identifying effective factors in users’ acceptance. In addition, if this technology is not utilized with all its features and technical capabilities, it will not achieve efficiency. These features are effective when they are accepted. This research mainly aims to design a model for insurance technology acceptance using interpretive structural modeling (ISM).

This research uses grounded theory and interpretive structural modeling to design a technology acceptance model in the insurance industry. The grounded theory and 43 in-depth interviews with experts were used to identify factors affecting insurance technology acceptance. The interviews were conducted from December 2019 to May 2020 until theoretical saturation was achieved. Then, the thematic analysis was used to determine, analyze, and explain models within the data, and a confirmatory technique was applied to validate qualitative data. In the next stage, interpretive structural modeling was utilized to design the model and identify the constructs and relationships. The validity of the qualitative findings was assessed by interviewees during the interviews, and transcriptions of interview contents were reviewed carefully and immediately after each interview. The accuracy of concepts and themes extracted in terms of coordination with the reality was verified by comparing and reviewing interview texts. In addition, the impact of the themes obtained by the grounded theory was assessed using the structural-interpretive questionnaire distributed among ten interviewees.

The initial technology acceptance model was designed by interpretive structural modeling. According to the influence-dependence power diagram, support, legitimization, cultural development, and performance have a high influence power and low dependence power, and they are placed at the quadrant of independent variables. Moreover, price, cooperation, trust, and purchase advantages have a high dependency power and low influence power, and they are considered dependent variables. Constraints and complexity also have similar influence power and dependence power, and thus, they are linkage variables. Finally, among the variables, support with the highest influence power and lowest dependence power has the greatest effect on capacitation, while the trust with the lowest influence power and highest dependence power is the first level or dependent variable. It should be noted that none of the variables was laid in the autonomous quadrant. Since the variables of support, legitimization, cultural development, and performance have high driving power and influence power, these variables should be considered by the industry’s authority to create a supportive atmosphere toward InsurTechs. They should provide appropriate resources, and boost infrastructures for sustainable development of InsurTechs. On the other hand, the variables of price, cooperation, trust, and purchase advantages have a high dependency power, and InsurTech companies should help to develop and increase national insurance penetration by presenting up-to-date marketing techniques, interacting with insurers concerning the attraction of customer trust in the insurance services and resolving their anxiety about their purchase, and creating attractiveness in customer purchase by providing unique advantages and more appropriate prices and conditions relative to traditional companies. According to the results, the variables of constraints and complexity have a high driving power. In other words, they give and receive high effects, and any change in these variables leads to fundamental changes.

Resolving legal barriers by industry’s authority, providing suitable insurance services by startups, and facilitating the process are necessary activities. Acceptance of new technologies and cooperation among insurance companies and startups are the first step that should be considered by InsurTechs firmly toward the acceptance of technology by employees and customers. Furthermore, attracting the trust and interest of top managers of insurance companies is an important task of insurance startups so that they provide a context to customers’ further participation by ensuring the protection of their information. Cooperation among insurance companies and insurance startups in providing appropriate price and conditions, facilitating the access of InsurTechs, as business partners, to the real premium, and creating a platform to present unified web services by the industry’s authority and insurer companies jointly are required for the acceptance of this technology. Support of the insurance industry in legitimizing and fostering the infrastructure for insurance startups decreases constraints. On the other hand, trust and cooperation of insurance companies with InsurTechs increase the customers’ acceptance of the insurance technology and use of purchase advantages achieved by this strategy. The results indicate that support has the greatest impact on capacitation, while trust is the most affected variable.

The insurance industry in the world is generally considered as a high-risk activity. Therefore, it has special regulations. The establishment of insurance institutions in the form of a company is one of the ways to reduce the risks in this industry. Thus, The purpose of this study is to find the reasons for determining the format of a public joint stock company for establishing insurance companies and to understand the existing challenges to support the interests of the policyholders and finally to provide an appropriate format and structure.

A descriptive-analytical method has been used in this research. Books, articles and scientific resources of developed countries were used to collect information. the use of scientific and specialized journals in various databases has been prioritized.

The findings show that some characteristics of public joint stock companies persuaded the legislator to allow establishing insurance companies only in the form of the joint stock companies. One of the most important features, along with the large amount of capital and ease of leaving the company, is the facilitation of the insurer's support, which examines the behavior of public joint stock companies and their structure also strengthens the validity of this claim. According to the domestic regulations, the capital required to establish an insurance company and cover all types of risks will not be able to be provided by a natural person, so the answer is establishing an insurance company and collecting shareholders' capital to achieve this important fund. The degree of liability of each of the partners in the insurance company and the method of compensation should also be such that the insurer is confident that in case of damage, he can receive his compensation based on the insurance contract. Such issues are directly related to the structure of the insurance company. In the Commercial Code, the authorized forms for forming a company have not exceeded seven types, and according to the provisions of the Commercial Code regarding the formation of companies, Article 2 of Regulation No. 40 of the Supreme Insurance Council only forms a public joint stock company and a public joint stock cooperative company. But it has not provided an explanation as to why and for what reasons only these forms are allowed. However, some of the features of these types of companies, such as the ease of leaving the company, are also against the interests of the policyholders, as it exposes the company to large changes of investors and reduces coherence in management decisions, resulting in liquidation or bankruptcy. Thus, public joint stock companies are not currently the most appropriate legal framework for insurance companies. On the other hand, one of the issues that should be considered in determining the type of company is the protection of the interests of insurers, such as the country’s health system that implements mechanisms to protect patients so that patients and the public can participate in policy making and their opinions in the final health policy making is used to make better decisions with people's participation.

In the insurance system, special mechanisms, structure and monitoring system should be used so that insurers can actively participate in the insurance system in addition to ensuring the protection of their rights. Thus, According to the characteristics of a public joint stock company, it seems that the best format for forming an insurance company is to form an insurance company as a private joint stock company whose shareholders are large companies and typically investment holdings. In this way, credit risk can be avoided, since the multiplicity of partners does not cause dispersal of shareholders' votes, more efficient management can be expected, as well as the benefits of joint-stock companies in terms of supervision, management, decision-making based on corporate governance and responsibility Limited shareholders solved the challenges of public limited companies and, by improving financial performance, reduced financial risk and secured the interests of shareholders as well as insurers in a more efficient manner.  Therefore, in the insurance system, special mechanisms, structure and monitoring system should be used so that insurers can actively participate in the insurance system in addition to ensuring the protection of their rights. Thus, a private joint stock company with shareholders who are public joint stock companies can provide the most support to the interests of the policyholders. It reduces the fragmentation of management opinions and increases the coherence of the company's decisions and policies to ensure the interests of customers and policyholders.

Equality between man and woman rights has long been considered by jurists and human rights communities. It has been supported from the perspective of human rights and economic and social analysis. The Iranian legal system, following the well-known opinion of Imami jurists, has not accepted the idea of absolute equality between men and women. Going beyond the idea of the difference between man's and woman's Diya with the legislative approach in the Islamic Penal Code and the Compulsory Insurance Law has been adjusted. The criminal and civil judicial authorities have not reached a single procedure in dealing with the issue of compensating the excess of woman's Diya overpayment. The dispute in the judicial procedure for the insurer's sentence to compensate the excess of the woman's Diya requires a correct analysis of the nature of the ransom in the laws. Paying attention to the nature of the woman's Diya overpayment to the extent of the man's Diya and recognizing the judicial and legal requirements in the issue of woman's Diya overpayment by the insurer, will direct and regulate the judicial procedure in issuing verdicts against the insurer in accordance with Article 10 of the Compulsory Insurance Law approved in 2016 and the insurer will be aware of its rights and duties.

Descriptive – analytical method was used in this research. Some of the judgments issued in this area are used as study documents to address the differences in jurisprudence, and to clearly portray the challenge of jurisprudence. It is possible to present the result by analyzing these opinions and advisory theories.

The surplus of the woman's Diya up to the man's Diya has a compensatory nature and the scope of the insurer's payment in Article 10 of the Compulsory Insurance Law is limited to traffic accidents. The idea of gender equality and economic efficiency of men and women in society and the irregularity of the payment of the fee for criminal proceedings implies the exemption of the request for compensation of the surplus of the woman's Diya from the civil proceedings in the criminal authorities. Also examination of judicial procedure and legal requirements raises the need to claim such damages from the insurer but simply requesting a surplus of Diya from the insurer without filing an independent lawsuit and paying the court fees in accordance with the financial claims is sufficient for the lawsuit to be considered by the insurer and a ruling issued. The method of issuing a criminal court and legal court order varies depending on how the lawsuit is filed. The conviction of an insurance company to pay excess of the woman's Diya requires the observance of certain court procedures. Asking the insurer for excess of the woman's Diya or not requesting it creates an independent obligation for the judge, which needs to be analyzed depending on the method of filing the lawsuit and the claim.

Despite the unity of the nature of excess damages on the Diya in the Islamic Penal Code and the Compulsory Insurance Law adopted in 2016, the origin of the insurer and the bodily injury insurance fund to compensate this amount are not the same and the scope of the insurer's obligation to pay the surplus of the Diya in the Compulsory Insurance Law is specific and limited. The method of filing a lawsuit against the insurer and the guarantee of the notification of the court hearings and the court decision to the insurer depends on his role in the lawsuit. It is possible to include the surplus of the woman's Diya in the court judgment, and the ability to enforce the verdict against the insurer depends on the method of filing a lawsuit and issuing a sentence. The injured party's request for payment of the surplus of the woman's Diya by the insurer before the end of the trial indicates the obligation of the criminal judge to issue a sentence against the insurer, but if the injured party neglects to demand his right directly from the insurer, the court has no obligation to issue a sentence and while writing the sentence of Diya, it only refers to the insurer's responsibility to pay the surplus based on accident insurance, which is not enforceable directly against the insurer.