- Title
- The role of enterprise risk management in the success of South African short-term insurance companies
- Creator
- Ntwana, Lwandile
- Subject
- Risk management -- South Africa
- Subject
- Insurance companies -- South Africa Insurance -- South Africa
- Date Issued
- 2018
- Date
- 2018
- Type
- Thesis
- Type
- Masters
- Type
- MBA
- Identifier
- http://hdl.handle.net/10948/33758
- Identifier
- vital:33015
- Description
- Short-term insurance companies, though they are in a business of managing risks for other companies; they themselves are vulnerable to different types of risks in their operation. The pressure from the Financial Services Board and the ratings agencies has also added to the risk management burden faced by short-term insurance companies. For this study four generic types of risks were identified as the key risks each insurance company needs to focus on in order to ensure success and survival in their operations. Implementation of enterprise risk management framework has thus become a necessity for every short-term insurance company in order to effectively mitigate the complex risks brought by the ever-changing business environment. The purpose of this study was to evaluate the significance of the relationship between enterprise risk management and the success and survival of the companies in the short-term insurance industry in order to develop and implement strategies to manage risks effectively. This study specifically looked at these types of risks: operational risks, financial risks, market risks and reputational risks; and these have been identified as generic risks that can be used as a guide for companies who intend implementing an enterprise risk management framework. An empirical study was conducted using a population of 45 short-term insurance companies who operate in South Africa; and for this study a response rate of 53% was achieved. The methodology adopted in the study included the research design, research methods and test for tests for validity and reliability. The results were analysed and discussed. The key findings from the empirical study indicated that, there is a relationship between operational risk, market risk and reputational risk; and the success and survival of short-term insurance companies in South Africa. Secondary literature also emphasised the importance of enterprise risk management on the success and survival of short-term insurance companies in South Africa. Adoption and implementation of enterprise risk management remains vital for short-term insurance companies in South Africa as a tool to help manage the very complex risks facing the industry on daily basis.
- Format
- ix, 98 leaves
- Format
- Publisher
- Nelson Mandela University
- Publisher
- Faculty of Business and Economics Sciences
- Language
- English
- Rights
- Nelson Mandela University
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| Thumbnail | File | Description | Size | Format | |||
|---|---|---|---|---|---|---|---|
| View Details Download | SOURCE1 | Lwandile Ntwana.pdf | 1 MB | Adobe Acrobat PDF | View Details Download |