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Developing Insurance Markets : Does Fragmentation and a Reliance on Compulsion Hinder Innovation, Growth and Development (Inglês)

Highly competitive markets or fragmented insurance markets are usually characterized by some irrational competition. In less developed non‐life insurance markets, this competition may be most visible in loss making compulsory motor insurance. Usually it is a large proportion of the business mix. Irrational price wars erode profits. A strict or penal treatment of claimants erodes trust. The societal and policy objectives of the compulsory lines of business are undermined and even can be forgotten altogether. This note examines the contention that the combination of markets that are too competitive and have an overreliance on compulsion also lack capacity to innovate. This is the first of a series of notes on market structure and development, largely from the same data set but separated for ease of access to readers with a particular interest in one or another situation.


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    Thorburn,Craig W.

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    Other, Regiões Mundiais,

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    Developing Insurance Markets : Does Fragmentation and a Reliance on Compulsion Hinder Innovation, Growth and Development?

  • Palavras-chave

    growth and development; motor third party liability insurance; motor insurance; rate of growth; less developed market; market size; insurance penetration; rate of change; investment in innovation; economies of scale; insurance market; insurance sector; financial sector specialist; introducing new products; Right-sizing; impact on market; fragmented insurance market; life insurance premium; community of practice; regulation and supervision; life insurance business; cross country analysis; use of capital; Value for Money; amount of insurance; absence of competition; new entrant; price war; significant correlation; market participant; consumer protection; market structure; sustainable level; market competition; index value; available data; competitive market; market development



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