The European Insurance Industry: A PEST Analysis

Barbara, Charmaine; Cortis, Dominic; Perotti, Roberta; Sammut, Claudia; Vella, Alfred J.

doi:10.3390/ijfs5020014

Cited by 18 publications

(10 citation statements)

References 45 publications

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“…The most used tool to give a diaphanous image of macro environment is the PEST analysis, where P, E, S, and T stand for political, economic, social, and technical analysis, respectively. Barbara et al [33] used PEST analysis to update the main political, legislative, economic, social, demographic, technological, and environmental changes that affect the insurance industry in the European market. Alava et al [34] proposed a new form of PEST analysis constructed on the neutrosophic cognitive maps static analysis for the food industry.…”

Section: Strategic Analysismentioning

confidence: 99%

The Grey Ten-Element Analysis Method: A Novel Strategic Analysis Tool

2022

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In this paper, a new strategic analysis method is introduced, called the ten-element analysis (TEA) method to determine the firm’s strategic position in the market. The new method is grounded on the computation of the reflections of the external factors on the firm’s internal factors through the changes of the values of the internal factors throughout the time when a lack of complete information regarding the environmental factors exists. The TEA method takes ten effective key elements of the firm into account and investigates their changes through a maximum of nine periods and a minimum of two periods. To conduct the model, the paper is mainly focused on four main rubrics, including the detection of the reflection of the firm’s environmental factors on the internal factors, deriving the strategic position of the firm from the reflections, the capability of the existing strategic models in determining the strategic position from the reflections in presence of uncertainty and incomplete information of the external factors. The method is applied to a dairy company in order to find its strategic position in the market. The results showed that the output of the TEA method and SWOT analysis is similar which makes the new method reliable to employ. The TEA method is developed under the grey environment to harness the uncertainty where a new grey comparison method is introduced to compare the grey numbers.

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Section: Strategic Analysismentioning

confidence: 99%

The Grey Ten-Element Analysis Method: A Novel Strategic Analysis Tool

2022

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“…Literatürde PEST analizi; çevre, eğitim, ticaret vb. olmak üzere çok geniş bir çerçevede değerlendirme yapmak için kullanılmaktadır (Doherty, Steel, & Parrish, 2012;Barbara, Cortis, Perotti, Sammut, & Vella, 2017;Shtal, Buriak, & Amirbekuly, 2018;Zhao, Liu, & Xue, 2019;Cox, 2021). Örneğin, Barbara vd.…”

Section: Ekonomi̇k Yapi Ve İli̇şki̇ler Si̇stemi̇ni̇n Güncellenme Ger...unclassified

Macroeconomic Strategic Plan as an Alternative Tool for Redesigning of Preferences and Prioties of the National Economy: Proposal for Emerging Markets Economy

Ekren

ERDOĞAN

BİLDİK

et al. 2022

İstanbul Ticaret Üniversitesi Sosyal Bilimler Dergisi

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Purpose: Public authorities put emphasis on to the design of macro-scale strategic plans with high sustainability and comprehensive in order to observe new opportunities in their future operations and to increase the consistency of their predictions for the future by taking coordinated actions among the actors in the system. In this study, key macroeconomic performance and stability indicators were analysed, and an alternative macroeconomic strategic plan for emerging markets was produced by evaluating the areas where decision-making and implementation processes intersect / diverge in terms of actors. Method: In the study, firstly, the current situation of the countries was determined by examining the macroeconomic indicators related to the selected emerging market economies and the reports prepared by internal/external stakeholders. Then, using SWOT and PEST approaches, a new matrix design has been created in accordance with the macroeconomic strategic plan, which has emerged with the effect of developments in the 21st century. Then, the Analytical Hierarchy Process (AHP) was used to determine the importance levels of the factor elements in the matrix. With the AHP method, weights were obtained with pairwise comparison matrices for the main axes and components of the macroeconomic strategic plan. Thus, it has been revealed which macroeconomic main axis and the strategy proposal that countries should consider more. Results: As a result of the study, it has been determined that the most important fragility point of emerging market economies is the areas that can create a comparative disadvantage. It is necessary for the countries concerned to identify the disadvantage points that can be seen as a possible obstacle to economic progress and to produce appropriate measures. In addition, it has been determined that should be given priority, in terms of the strategic plan will be created by public authority for the emerging market economies is the strengthening of the national economic security and defence system, the national structure, and relations system. The second most important strategy is to improve the strategic response capacity of the enterprises, which is considered as the obligation of the business world. Originality: In the study, the components of a unique macroeconomic strategic plan for emerging markets are discussed in the context of SWOT and PEST approaches, considering the needs of the 21st century and the new ways countries experience. For this reason, the study contributes to the literature in terms of developing a new macroeconomic strategic plan proposal. The plan, which was created by determining the degree of importance of the obtained components, is a road map that should be followed for policymakers. In addition, in the study, an inter-disciplinary approach was exhibited and a political economy analysis was put forward.

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“…This mispricing can lead to adverse-selection where the low-risk individuals move out of the insured pool and seek cover elsewhere, eventually leading to what is known as the adverse-selection spiral. Telematics seeks to overcome this issue by using on-board technology to monitor and assess the driving behaviour of each individual driver, thus moving insurance from a pooled pricing model to a more individual specific model where the underlying risk is more closely monitored (Barbara et al 2017).…”

Section: Telematicsmentioning

confidence: 99%

InsurTech

Cortis

Debattista

Debono

et al. 2018

Palgrave Studies in Digital Business &Amp; Enabling Technologies

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Traditional challenges insurers face include: (1) asymmetric information-the inability to price a policyholder correctly; (2) moral hazards-the change of attitude following cover; and (3) claims management. In this chapter, we discuss how disruptive technologies are evolving in the insurance sector and the challenges faced in their implementation. We show how large and continuous datasets are transforming the general insurance markets and their business processes, as well

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The European Insurance Industry: A PEST Analysis

Cited by 18 publications

References 45 publications

The Grey Ten-Element Analysis Method: A Novel Strategic Analysis Tool

The Grey Ten-Element Analysis Method: A Novel Strategic Analysis Tool

Macroeconomic Strategic Plan as an Alternative Tool for Redesigning of Preferences and Prioties of the National Economy: Proposal for Emerging Markets Economy

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