Holding a specialized panel on new approaches in the insurance industry by the Insurance Research Institute in Kish Inox 2023
According to the report of Poli-Mali News, citing the public relations and international affairs of Insurance Research Institute, in this specialized panel, which was held from 13:00 to 14:30 on Wednesday, November 17, 1402, in the year of Mulla Sadra, Kish Island International Convention Center, a scientific lecture by The subject of “Evaluation of Turkey’s participation-based insurance model[۳] Takaful and private pension certificate plan in the framework of contract theory” by Professor Saim Kiadibi who holds a doctorate degree in Islamic Law from Durham University and a full professor at Marmara University in Turkey, a scientific lecture on “Private Pension Insurance – Automatic Participation and Turkey’s Experience” by Dr. Murad Yas holds a doctorate degree in Islamic finance from Insif University of Malaysia and is an assistant professor at Marmara University’s Faculty of Economics and Islamic Finance. A scientific lecture on “Implementation of Takaful in Iran” was presented by Farzan Khamsian, director of the General Research Group of Insurance Research Institute.
Prof. Saim Kiadibi explained the results of his research in the field of “evaluation of the insurance model based on Turkey’s participation, takaful and private pension certificate plan in the framework of the contract theory”, stating the importance of human resources in the sustainability of the insurance business; Intermediaries, technical staff and private pension intermediaries of the insurance industry, based on the labor law and in order to cooperate with companies and partnership-oriented organizations, must participate in relevant training courses and tests held by the Insurance Training Center and the Pension Monitoring Center. Also, in Turkey, it has been decided that the basic concepts of Islamic finance should be included in the chapter of these training courses. According to the provisions of the law on insurance based on participation and private retirement, which was established by the Organization for Regulation and Supervision of Private Insurance and Retirement (SEDDK).[4] has been published, special educational activities for participation-based insurance and private retirement activities have been arranged in order to meet the human needs of this sector. Teaching contract theory is also very important in order to make cooperative insurance more compatible with Sharia principles. Despite the numerous studies on financial and insurance literature, the lack of scientific research regarding the educational program related to this field still remains as a fundamental gap. Therefore, the evaluation of the insurance model based on Turkey’s participation, takaful and private pension certificate plan has been done in the framework of the contract theory with the aim of filling this gap. The theory of contracts, which forms the basis of this research, has significantly helped to advance the goals of this study.
Also, Murad Yass presented the results of his scientific research on “Private Pension Insurance – Automatic Participation[۵] and Turkey’s experience” pointed out, in this article, while explaining the necessity of an individual pension system in Turkey and examining demographic changes and population pyramid changes, the development of an individual pension system with automatic participation in Turkey from 2017 to 2023 has been discussed. Finally, a review of the operational framework of the automatic participation model in the individual pension system of Turkey has been done. This presentation emphasizes the impact of incentive mechanisms and government contributions in fostering the growth of the individual pension system. In addition, it sheds light on market statistics such as the number of participants and fund sizes, providing insights into the pivotal role of this innovative retirement system.
Based on the findings of this research, automatic registration will be an important tool in increasing the visibility of the individual pension system. Also, informing the employees and the society will bring significant benefits and will help to increase savings both at the individual level and at the macroeconomic level.
Farzan Khamsian, in a scientific lecture on “Implementation of takaful in Iran”, after defining takaful and its types and explaining the combined model of mudarabah-advocacy, expressed the advantages of takaful compared to common insurances, the differences in economic conditions in Iran and other countries that offer takaful. , the limitations of takaful implementation in Iran and the solutions of takaful implementation in Iran. Based on the findings of this research, low purchasing power and the need to provide needed products, high inflation and interest rates and the need to invest in related fields, initial capital and the need for government aid and bonds, low initial wealth and the need to not share profits and the quota mechanism. classification, high damage and the need to design an efficient product, high attorney’s fees and the need to complete the excess damage instead of a loan and quota mechanism, high damage and the need to launch Takaful on the blockchain platform and Takaful fund quota mechanism, including the limitations and solutions in the implementation of Takaful in It is Iran.
The full video of the expert panel on new approaches in the insurance industry and the files presented in this meeting can be found in the scientific lectures section of the Insurance Research Institute website at https://www.irc.ac.ir/fa-IR/Irc/5816/page/ – Visible and exploitable.