ابحاث

Research Papers and Articles Published

1. Dr. Abdalelah S Saaty

Assessing the satisfaction of insurance customers and its impact with reference to Saudi Arabia

Interdisciplinary Journal of Contemporary Research In Business. Belleville: Apr 2011. Vol. 2, Issue 12; p. 290 (16 pages)

2. Dr. Zaid Ahmad Ansari

Title     : Analysis of the impact of reforms on Insurance Industry of Saudi Arabia,

Journal: Interdisciplinary Journal of Research in Business’, Vol.1, No.8, UK, 2011.

3. Dr. Abdalelah S. Saaty & Dr. Zaid Ahmad Ansari

Title: Factors Critical in marketing strategies of insurance companies in Saudi Arabia

Journal: International Journal of Marketing Studies’ Vol.3 No.3, Canada, 2011.

4. Dr. Zaid Ahmad Ansari

Title: Analyzing the factors affecting the demand for insurance in Saudi Arabia

Journal: Interdisciplinary Journal of Contemporary Research in Business (IJCRB), USA, 2011.

5. Dr. Zaid Ahmad Ansari

Title: Consumer Awareness and Insurance Buying behavior: A Case Study of Purvanchal Area

Journal: Global Education Society and Development – An International Journal of Academicians, India, 2010.

6. Dr. Zaid Ahmad Ansari, and Dr. S.K. Sinha

Title: Global financial Crisis – with special reference to Insurance Industry

Journal: African Journal of Marketing Management, Vol.1 (8), 2009

7. Dr. Zaid Ahmad Ansari and Dr. Abdalelah S. Saaty

Title: Takaful – An Islamic Way of Insurance: Development, growth, Challenges and issues

Journal: HR Journal of Management, Maiden Issue, India, 2009.

Abstracts

1. Dr. Abdalelah S Saaty

Title: Assessing the satisfaction of insurance customers and its impact with reference to Saudi Arabia

Journal: Interdisciplinary Journal of Contemporary Research In Business. Belleville: Apr 2011. Vol. 2, Issue 12; p. 290 (16 pages)

Abstract

The purpose of this research is to find out the level of satisfaction of insurance customers who mainly purchase the compulsory insurance i.e., motor insurance and health insurance in Saudi Arabia. The study further analyzed the relationship among the level of satisfaction and customer loyalty (i.e., customers will purchase other insurance policies in future), change in thinking towards insurance, and change in thinking to future purchase plan. The study is based on primary data, collected from 700 users of insurance through a structured questionnaire in Jeddah city of Saudi Arabia. Consumers' responses on various aspects of insurance were analyzed using simple statistical techniques such as percentages, mean, Chi-square tests, factor analysis, and ANOVA analysis with help of Statistical Package for the Social Sciences (SPSS). The findings show that on 22 attributes of insurance measured the customers are by and large satisfied for most of the attributes related to insurance such as behavior of the employees, infrastructure of the insurance company, etc. except for advertisement, claim settlement process, and discounts and promotions of the insurance company. The study showed that there is positive relation between satisfaction and willingness to buy insurance in future, satisfaction and change in thinking, and positive change in thinking is related to future purchase plan. Relating to the factors i.e., advertisement, claim settlement process, and promotions and discounts where customers are not satisfied, managers should take corrective steps as these factors are very important in an insurance policy.

2. Title     : Analysis of the impact of reforms on Insurance Industry of Saudi Arabia.

Journal : Interdisciplinary Journal of Research in Business’, Vol.1, No.8, UK, 2011.

Abstract

This paper attempts to find out the impact of reforms on insurance industry of Saudi Arabia. The study finds out the impact of reforms vis-à-vis premium growth, regulation of insurance industry and entry of new companies in the industry. The study is based on secondary data collected mainly from the annual reports of the Saudi Arabian Monetary Agency (SAMA) from 2005 through 2009. The study made a comparative study of the performance of insurance industry in pre and post reforms era. Further it analyzes the impact of reforms on standardization of insurance industry through regulatory framework and participation of new companies from Saudi Arabia and other foreign multinational companies in the industry. Since reform in 2004 Saudi Insurance is growing fast registering remarkably high growth rate in premium. Besides premium large numbers of indigenous companies have entered the insurance market. The government has established sound regulatory system to develop the insurance industry of Saudi Arabia to international standard.

Keywords: Insurance, Reform, Saudi Arabia, Saudi Arabian Monetary Agency

Title: Analyzing the factors affecting the demand for insurance in Saudi Arabia

Journal: Interdisciplinary Journal of Contemporary Research in Business (IJCRB), Vol. 2, No.10, USA, 2011

Abstract

This paper attempts to find out the factors affecting the demand for insurance customers in Saudi Arabia. The paper identifies the motivating factors for the existing users of insurance policies and the demotivating factors for non users of insurance. The paper also attempts to find out the problems faced by the executives of the insurance company in promoting insurance in Saudi Arabia. The study is based on primary data collected from 500 users of insurance, 400 non users of insurance and 80 insurance executives through a structured questionnaire in Jeddah city of Saudi Arabia. The collected data was analyzed using simple statistical techniques such as percentages, mean, Chi-Square tests with the help of Statistical Package for Social Sciences (SPSS). The results of the study shows that the main motivating factor for purchasing insurance is legal factor and the Saudi insurance market is presently being driven by compulsory lines of insurance business such as motor insurance and health insurance for expatriates. Islamic principles are the main demotivators for purchasing the insurance policies. The providers of insurance in Saudi Arabia shall focus on educating the people that the insurance in Saudi Arabia

is operating on Islamic Principles.

Key words: Insurance, Islamic insurance, Sharia’h.

3. Title: Consumer Awareness and Insurance Buying behavior: A Case Study of Purvanchal Area

Journal: Global Education Society and Development – An International Journal of Academicians, Vol. 1, No.4, India, 2010

Abstract

In the present economic scenario the role of insurance can’t be overstated. Almost seven years have passed since the insurance industry has been liberalized. Though the insurance industry is growing by leaps and bounds still there is very huge untapped market of around 80%, which is ever growing. The growth rate for life insurance was as high as 95% for the year 2006 – 07, still the public at large is not aware about the true utility of the insurance. It is felt that the insurance industry again has confined itself to the urban areas leaving the vast rural population of around 73% either uninsured or under-insured. The awareness and knowledge about insurance is poor especially in rural areas. However, the study shows that other industries are doing very well in rural market. Thus this study aims to find out the awareness level about insurance keeping in view the education level and their income. The study aims at finding the awareness level and purchasing potential of the individuals in semi – urban and rural area such as Purvanchal in Uttar Pradesh state of India. The researcher attempts to establish the relationship of education and income of the respondents with their attitude, knowledge and buying behavior for insurance.

Key words: IRDA, Rural, Nationalization, Liberalization

Dr. Abdalelah S. Saaty & Dr. Zaid Ahmad Ansari

4. Title: Factors Critical in marketing strategies of insurance companies in Saudi Arabia

Journal: International Journal of Marketing Studies’ Vol.3 No.3, Canada, 2011

Abstract

This paper attempts to find out the factors important in developing a suitable marketing strategy for insurance companies in Saudi Arabia. It investigates the reasons for buying insurance by the current users of insurance, reasons for not buying insurance by non-users of insurance and the issues and problems faced by Saudi Insurance industry. The study is based primarily on primary data collected randomly from 500 users of insurance, from 400 non-users of insurance and 80 insurance executives through structured questionnaire in Jeddah city of Saudi Arabia. The three questionnaires were developed in English and translated into Arabic for effective response due

to Saudi Culture, and language. The response from the three groups of respondents were analyzed using simple statistical techniques such as percentages, mean, chi-square tests, factor analysis, and ANOVA analysis with the help of Statistical Package for the Social Sciences (SPSS).

The results of the study show that the social and regulatory factors played crucial role in the consumer’s decision in purchasing insurance. However it was also found that the public at large is unaware about the benefits of insurance, and various types of insurance products. The insurance companies shall focus of promotional marketing strategies. The marketer’s primary focus should be on promotional activities.

Keywords: Marketing, Sharia’h, Insurance, Saudi Arabia

Journal: HR Journal of Management, Maiden Issue, India, 2009.

Abstract

Islamic finance has developed mainly in two directions namely Islamic banking and Islamic insurance (takaful). While information about Islamic banking is being increasingly disseminated, features, models, and structures of Takaful are little known to the people in general. Purpose of this brief article is to describe main features and models of Takaful system operating in various parts of the world.

Takaful is not a new concept in Islamic commercial law. The contemporary jurists acknowledge that the foundation of shared responsibility or takaful was laid down in the system of ‘Aqilah’, which was an arrangement of mutual help or indemnification customary in some tribes at the time of Prophet Mohammad. In case of any natural calamity, everybody used to contribute something until the loss was indemnified. Similarly, the idea of Aqaliah in respect of blood money or any disaster was based on the concept takaful wherein payments by the whole tribe distributed the financial burden among the entire tribe. Islam accepted this principle of reciprocal compensation and joint responsibility.

The distinction between the conventional insurance and Takaful business is more visible with respect to investment of funds. While insurance companies invest their funds in interest based avenues and without any regard for the concept of Halal or Haram, Takaful companies undertake only Sharia’h compliant business and the profits are distributed in accordance with the pre agree ratios in the takaful agreement. Likewise they share in any surplus or loss from the pool collectively. Takaful system has a built in mechanism to counter any over pricing policies of the insurance companies because whatever may be the premium charged, the surplus would normally go back to the participants in proportions to their contributions.

The preceding discussion is an ideal to explore and view to the people in general that how the Islamic system of takaful can be a future a front runner. It is really a challenge how does it mechanize in present context, a crux has been highlighted to see its real life situation.

Title: Global financial Crisis – with special reference to Insurance Industry

Journal: African Journal of Marketing Management, Vol.1 (8), 2009

Abstract

The world economy is facing the worst financial crisis. The financial crisis that started from mortgage home loan left no industry untouched by its effects. Manufacturing, Banks, travels and Tourism and even the Insurance Industry was affected by the financial crisis. Insurance Industry is considered to be the backbone of an economy. Its strategic importance is incomparable. The financial crisis led the world’s largest Insurance Company “American International Group (AIG)” almost to the verge of bankruptcy. The government had to bail out the largest insurer. This paper has attempted to study the financial crisis vis-à-vis insurance industry. It has highlighted the case study of AIG, effects on Insurance Industry and future course of actions and precautions needed by the industry.

Key words: Global financial crisis, financial crisis, insurance industry, world economy.