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Innovations of insurance companies and investment funds
(naslov ne postoji na srpskom)
aUniverzitet Union, Fakultet za pravne i poslovne studije 'dr Lazar Vrkatić', Novi Sad, Srbija
bUniverzitet u Novom Sadu, Fakultet tehničkih nauka, Srbija

e-adresavnjegomir@eunet.rs, jelena.ciric.ns@gmail.com
(ne postoji na srpskom)
The aim of this paper is to review the recent progress in innovation activities of investment funds and insurance companies. The paper reviews the main innovation trends globally, their causes and consequences. The research has identified that innovations of insurance companies and investment funds are predominantly incremental and focused on products although they usually refer also to processes, marketing and overall organisation. In investment fund industry, the main innovations recently have been credit swap defaults (CDS), Exchange Traded Funds (ETF), hedge funds, social impact bonds and other innovative products. In insurance industry, in addition to incremental innovations such as amendments to contracts terms and conditions, recent innovations encompass microinsurance, enterprise risk management, e-business applications, bancassurance, index insurance and alternative risk transfer. By summarizing the current state of knowledge of innovation activities among insurance companies and investment funds, the paper can be useful for domestic investment funds and insurance companies to identify possible areas for innovation as well as for government bodies to understand why fostering creation of innovation-friendly environment will bring benefits not only to financial services industry but to the society as a whole. Finally, the results presented in the paper are a good starting point for future research.
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O članku

jezik rada: engleski
vrsta rada: neklasifikovan
objavljen u SCIndeksu: 20.11.2013.

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