عنوان مقاله [English]
Objective: This paper examines the effect of risk culture on the performance of risk management in insurance companies providing complementary health insurance, in terms of neoclassical economics and enterprise risk management.
Methodology: Analytic hierarchy process (AHP)
Findings: In this paper, the principles of risk management as well as four cultures-based theory of multiple rationality were presented and the principles of neoclassical economics and enterprise risk management were analyzed for insurance companies offering complementary health insurance. The principles of "enterprise risk management" with weight of 62.1% has gained the highest rank compared to "neoclassical economics" with weight of 37.9% in relation to overall goal. Also, "risk appetite" and "separate measurement and management of risk" criteria in selection of enterprise risk management gained the highest weight compared to other criteria.
This study concluded that the principles of risk culture is best compatible with the principles of enterprise risk management, but this does not mean that the principles of enterprise risk management and the neoclassical economy cannot be used simultaneous in a company. Generally, the insurance companies choose a combination of these principles. In other words, insurance companies select a variety combination of four approaches based on the theory of multiple rationality. Also, considering that the attitude of Central Insurance of IR Iran to the risk strategy has the impact on the risk culture of insurance companies, it is recommended that Central Insurance in this field will adopt an optimal attitude according to the conditions and necessities of the insurance industry.
JEL Classification: B13, G22, G32.
https://www.actuaries.org.uk/system/files/field/document/insurancecriteria.pdf available in 3/21/2020.