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Delay factors in processing the marine policy claims subject to English law settlement

Marine insurance is an important component of international trade and commerce, and it is subjected to international regulations in every stage of operation. The aim of this study is to propose an innovative approach in marine insurance claim management process in reducing the time to compensate the...

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Main Author: Fili, Alireza
Format: Thesis
Language:English
Published: 2022
Subjects:
H Social Sciences (General)
Online Access:http://eprints.utm.my/id/eprint/100340/1/AlirezaFiliPMJIIT2022.pdf
http://eprints.utm.my/id/eprint/100340/
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spelling my.utm.1003402023-03-30T07:57:33Z http://eprints.utm.my/id/eprint/100340/ Delay factors in processing the marine policy claims subject to English law settlement Fili, Alireza H Social Sciences (General) Marine insurance is an important component of international trade and commerce, and it is subjected to international regulations in every stage of operation. The aim of this study is to propose an innovative approach in marine insurance claim management process in reducing the time to compensate the insurer based on the international marine insurance policy. The objectives of this study are: to review the existing marine insurance policy claim management process under marine insurance law, to assess the current constraints in marine insurance in using “Pay to be paid” rule by studying the previous cases in marine insurance claims, to propose a new claim management process in marine insurance to reduce the time to compensate the insurer. Six industry experts were interviewed as well as a survey of 300 respondents, comprised 150 from general insurance and 150 from marine experts, were conducted in identifying the potential problems behind the delay in marine insurance claim management. The respondents came from different backgrounds, working in insurance related areas as well as ordinary people who have insurance plans. The results were analyzed using the Delphi method which consists of 10 items, scored on a Five-point Likert response scale. The results showed that the major delay in claim process is due to redundant documentations. To address the issue of the redundant documentations as well as to shorten the claim settlement process, a 5-step Lean Management System (LMS) was proposed. The LMS proposes the five important steps to improve claim efficiency: i. identify customers, ii. identify value stream, iii. eliminate waste, iv. respond to customer pull, and v. pursue perfection. By implementing the Lean Management System in marine insurance world, it is hoped that the advancement of insurance claim management and process, and a correlation between the after-effects can be benefited to many parties in shipping industry. 2022 Thesis NonPeerReviewed application/pdf en http://eprints.utm.my/id/eprint/100340/1/AlirezaFiliPMJIIT2022.pdf Fili, Alireza (2022) Delay factors in processing the marine policy claims subject to English law settlement. PhD thesis, Universiti Teknologi Malaysia, Malaysia-Japan International Institute of Technology. http://dms.library.utm.my:8080/vital/access/manager/Repository/vital:150982
institution Universiti Teknologi Malaysia
building UTM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Teknologi Malaysia
content_source UTM Institutional Repository
url_provider http://eprints.utm.my/
language English
topic H Social Sciences (General)
spellingShingle H Social Sciences (General)
Fili, Alireza
Delay factors in processing the marine policy claims subject to English law settlement
description Marine insurance is an important component of international trade and commerce, and it is subjected to international regulations in every stage of operation. The aim of this study is to propose an innovative approach in marine insurance claim management process in reducing the time to compensate the insurer based on the international marine insurance policy. The objectives of this study are: to review the existing marine insurance policy claim management process under marine insurance law, to assess the current constraints in marine insurance in using “Pay to be paid” rule by studying the previous cases in marine insurance claims, to propose a new claim management process in marine insurance to reduce the time to compensate the insurer. Six industry experts were interviewed as well as a survey of 300 respondents, comprised 150 from general insurance and 150 from marine experts, were conducted in identifying the potential problems behind the delay in marine insurance claim management. The respondents came from different backgrounds, working in insurance related areas as well as ordinary people who have insurance plans. The results were analyzed using the Delphi method which consists of 10 items, scored on a Five-point Likert response scale. The results showed that the major delay in claim process is due to redundant documentations. To address the issue of the redundant documentations as well as to shorten the claim settlement process, a 5-step Lean Management System (LMS) was proposed. The LMS proposes the five important steps to improve claim efficiency: i. identify customers, ii. identify value stream, iii. eliminate waste, iv. respond to customer pull, and v. pursue perfection. By implementing the Lean Management System in marine insurance world, it is hoped that the advancement of insurance claim management and process, and a correlation between the after-effects can be benefited to many parties in shipping industry.
format Thesis
author Fili, Alireza
author_facet Fili, Alireza
author_sort Fili, Alireza
title Delay factors in processing the marine policy claims subject to English law settlement
title_short Delay factors in processing the marine policy claims subject to English law settlement
title_full Delay factors in processing the marine policy claims subject to English law settlement
title_fullStr Delay factors in processing the marine policy claims subject to English law settlement
title_full_unstemmed Delay factors in processing the marine policy claims subject to English law settlement
title_sort delay factors in processing the marine policy claims subject to english law settlement
publishDate 2022
url http://eprints.utm.my/id/eprint/100340/1/AlirezaFiliPMJIIT2022.pdf
http://eprints.utm.my/id/eprint/100340/
http://dms.library.utm.my:8080/vital/access/manager/Repository/vital:150982
_version_ 1762392192325779456
score 13.211869

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