Ministry of Education and Training
National Economics University
Maybe you are interested!
-
Developing non-life insurance activities in Vietnam - 19 -
Viewpoints on Perfecting State Management of Business Activities of Non-Life Insurance Enterprises in Vietnam -
State Management Experience on Business Activities of Non-Life Insurance Enterprises of Some Countries -
State management of business activities of non-life insurance enterprises in Vietnam - 25 -
Discussing investment activities in life insurance companies - 6
Ho CONG TRUNG
DEVELOPMENT OF NON-LIFE INSURANCE ACTIVITIES IN VIETNAM
Hanoi - 2015
Ministry of Education and Training
National Economics University
Ho CONG TRUNG
DEVELOPMENT OF NON-LIFE INSURANCE ACTIVITIES IN VIETNAM
Major: BANKING FINANCE
Code: 62 34 02 01
Scientific instructor:
1. PROFESSOR, DR. NGUYEN VAN NAM
2. DR. TRAN VINH DUC
Hanoi - 2015
COMMITMENT
I hereby certify that this is my own research work. The data used in the thesis has a clear and reliable source and is published in accordance with regulations. The research results, solutions and recommendations are self-researched, analyzed and proposed by the author according to the principles of honesty, objectivity and suitability to actual conditions.
Author
Ho Cong Trung
INDEX
COMMITMENT i
TABLE OF CONTENTS ii
LIST OF TABLES v
LIST OF FIGURES vii
INTRODUCTION 1
1. Urgency of research topic 1
2. Research purpose 1
3. Research question 2
4. Research object and scope 2
5. New contributions of thesis 2
6. Thesis structure 3
CHAPTER 1: OVERVIEW AND RESEARCH METHODOLOGY 4
1.1 Overview 4
1.1.1 Foreign authors and scientific works written about the business activities of non-life insurance enterprises in Vietnam 4
1.1.2 Authors and scientific works in the country related to the thesis topic 6
1.2 Research process 10
1.3 Research method with secondary data 12
1.4 Research methods with primary data 15
1.4.1 Research model and hypotheses 15
1.4.2 Development of research scales 22
1.4.3 Population and research sample 23
1.4.4 Data collection method 24
1.4.5 Data analysis method 24
1.5 Qualitative research by in-depth interviews with relevant subjects 26
CHAPTER 2: THEORETICAL BASIS OF NON-LIFE INSURANCE ACTIVITIES 29
2.1. Overview of non-life insurance 29
2.1.1. Concept and characteristics of non-life insurance 29
2.1.2 Types of insurance 35
2.1.3. The role of insurance and non-life insurance 41
2.2 Insurance companies and non-life insurance activities 43
2.2.1 Concept and characteristics of non-life insurance enterprises 43
2.2.2 Non-life insurance activities of insurance companies 45
2.3. Development of non-life insurance activities 48
2.3.1 Concept of development of non-life insurance activities 48
2.3.2 Indicators for assessing the level of development of non-life insurance activities 49
2.4 Factors affecting the development of non-life insurance activities 53
2.4.1 Subjective factors belonging to insurance companies 53
2.4.2 Objective factors 55
CHAPTER 3: CURRENT STATUS OF DEVELOPMENT OF NON-LIFE INSURANCE ACTIVITIES IN VIETNAM 62
3.1 Overview of non-life insurance activities in Vietnam 62
3.1.1 History of formation, development and basic legal basis of non-life insurance activities 62
3.1.2 Insurance products in the Vietnamese insurance market 65
3.2. Current status of non-life insurance activities in Vietnam 67
3.2.1. Results achieved 67
3.2.2 Limitations and causes 78
CHAPTER 4: SOLUTIONS TO DEVELOP NON-LIFE INSURANCE ACTIVITIES IN VIETNAM 115
4.1 Orientation and viewpoints on non-life insurance development in Vietnam .. 115
4.1.1 Development orientation of Vietnam's insurance market 115
4.1.2 Viewpoints on developing non-life insurance activities according to market mechanism 116
4.1.3 Developing non-life insurance activities in a sustainable direction 117
4.1.4 Developing non-life insurance activities towards specialization, professionalization and centralization 119
4.2 Solutions for developing non-life insurance services in Vietnam 120
4.2.1 Forecast of Vietnam non-life insurance market to 2020 120
4.2.2 Perfecting the funding structure of non-life insurance enterprises 123
4.2.3 Promote propaganda, promotion and image building of the enterprise 124
4.2.4 Perfecting the distribution channel system and distribution channel policy 125
4.2.5 Diversify products and expand business network 127
4.2.6 Improve service quality, enhance customer satisfaction and loyalty 129
4.3 Conditions for implementing solution 136
CONCLUSION 138
LIST OF PUBLISHED WORKS LIST OF REFERENCES
APPENDIX
LIST OF TABLES
Table 3.1 Non-life insurance premiums and growth rate from 2007 – 2013 68
Table 3.2 Revenue and growth rate of main non-life insurance products in the period 2009 - 2013 68
Table 3.3 Number of people participating as insurance agents for businesses in the period 2006 - 2011 70
Table 3.4 Customer evaluation of reliability and responsiveness factors 72
Table 3.5 Customer evaluation results with aspects of service capacity factor 73
Table 3.6 Customer evaluation results on aspects of the empathy factor 74
Table 3.7 Customer evaluation results on each aspect of tangibles factor 75
Table 3.8 Customer evaluation of each aspect in the factor “corporate image” 76
Table 3.9 Customer evaluation of service price 77
Table 3.10 Descriptive statistics of factors in model 84
Table 3.11 Correlation matrix between research variables 85
Table 3.12 Pooled and FEM model results for ROE 87
Table 3.13 Pooled and FEM model results for ROA 88
Table 3.14 Estimated results after removing suspicious variables 89
Table 3.15 Customer classification according to classification criteria 95
Table 3.16 Results of reliability test of the factor scale “trust” 98
Table 3.17 Results of reliability test of the factor scale “responsiveness” 99
Table 3.18 Results of reliability test of the factor scale “service capacity” 99
Table 3.19 Results of reliability test of the factor scale “empathy” 100
Table 3.20 Results of reliability test of the factor scale “tangibles” 100
Table 3.21 Results of reliability testing of the factor scale “corporate image” ...101 Table 3.22 Results of reliability testing of the factor scale “price perception” 102
Table 3.23 Results of reliability test of the scale measuring the variable “customer satisfaction” 102
Table 3.24 Results of exploratory factor analysis of independent variables, round 1 103
Table 3.25 Results of the second exploratory factor analysis of independent variables 105
Table 3.26 Results of exploratory factor analysis with the variable “customer satisfaction” ..106 Table 3.27 Results of correlation analysis between variables 108
Table 3.28 Results of estimating the regression equation 109
Table 3.29 Results of testing the suitability of the bootstrap estimates 111
Table 4.1 Revenue forecast of non-life insurance companies, base plan 121
Table 4.2 Revenue forecast of non-life insurance companies, high option 121
Table 4.3 Revenue forecast of non-life insurance companies, low option ..122