650 Management
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The digital transformation with its new technologies and customer expectation has a significant effect on the customer channels in the insurance industry. The objective of this study is the identification of enabling and hindering factors for the adoption of online claim notification services that are an important part of the customer experience in insurance. For this purpose, we conducted a quantitative cross-sectional survey based on the exemplary scenario of car insurance in Germany and analyzed the data via structural equation modeling (SEM). The findings show that, besides classical technology acceptance factors such as perceived usefulness and ease of use, digital mindset and status quo behavior play a role: acceptance of digital innovations, lacking endurance as well as lacking frustration tolerance with the status quo lead to a higher intention for use. Moreover, the results are strongly moderated by the severity of the damage event—an insurance-specific factor that is sparsely considered so far. The latter discovery implies that customers prefer a communication channel choice based on the individual circumstances of the claim.
The paper provides a comprehensive overview of modeling and pricing cyber insurance and includes clear and easily understandable explanations of the underlying mathematical concepts. We distinguish three main types of cyber risks: idiosyncratic, systematic, and systemic cyber risks. While for idiosyncratic and systematic cyber risks, classical actuarial and financial mathematics appear to be well-suited, systemic cyber risks require more sophisticated approaches that capture both network and strategic interactions. In the context of pricing cyber insurance policies, issues of interdependence arise for both systematic and systemic cyber risks; classical actuarial valuation needs to be extended to include more complex methods, such as concepts of risk-neutral valuation and (set-valued) monetary risk measures.
High-performance firms typically have two features in common: (i) they produce in more than one country and (ii) they produce more than one product. In this paper, we analyze the internationalization strategies of multi-product firms. Guided by several new stylized facts, we develop a theoretical model to determine optimal modes of market access at the firm–product level. We find that the most productive firmssell core varieties via foreign direct investment and export products with intermediate productivity. Shocks to trade costs and technology affect the endogenous decision to export or produce abroad at the product-level and, in turn, the relative productivity between parents and affiliates.
With the increasing significance of information technology, there is an urgent need for adequate measures of information security. Systematic information security management is one of most important initiatives for IT management. At least since reports about privacy and security breaches, fraudulent accounting practices, and attacks on IT systems appeared in public, organizations have recognized their responsibilities to safeguard physical and information assets. Security standards can be used as guideline or framework to develop and maintain an adequate information security management system (ISMS). The standards ISO/IEC 27000, 27001 and 27002 are international standards that are receiving growing recognition and adoption. They are referred to as “common language of organizations around the world” for information security. With ISO/IEC 27001 companies can have their ISMS certified by a third-party organization and thus show their customers evidence of their security measures.
Eine Unternehmensgründung ist ein komplexes Vorhaben, dessen Risiken soweit wie möglich vermieden bzw. minimiert werden sollten. Dabei hilft eine sorgfältige Planung und Vorbereitung. Der Gründungsprozess lässt sich — von der Prüfung der Grundvoraussetzungen über den Business Plan, die Vorbereitung der Gründung sowie deren Realisierung bis zur Stabilisierung des Unternehmens — in fünf Phasen einteilen.