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Management Decisions in Insurance as an Expression of Synergetic Management

Author

Listed:
  • Mikhail L. Kozlov

    (St. Petersburg State University of Economics, St. Petersburg 191023, Russia)

Abstract

The article substantiates the approach of the consideration of insurance as a synergetic process, both at the at micro level of the insurance company and at the macro level of financial services institution, because by the building of an insurance portfolio the positive economic impact, which exceeds the economic effect of the individual risks adoption, is achieved. The article also discusses the role management decision carriers in the formation of an insurance portfolio. Depending on the quality of insurance management both synergetic and entropic effects are possible in the insurance.

Suggested Citation

  • Mikhail L. Kozlov, 2016. "Management Decisions in Insurance as an Expression of Synergetic Management," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 5, pages 120-126, October.
    • Handle: RePEc:fru:finjrn:160512:p:120-126
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    More about this item

    Keywords

    insurance; risk management; entropy; synergy; insurance portfolio; risk assessment; management;
    All these keywords.

    JEL classification:

    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies

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