The Iranian insurance industry in the post-sanctions era faces a set of strategic opportunities and institutional threats, the intelligent management of which can determine the path of sustainable growth for this industry. Lifting international restrictions, on the one hand, provides the possibility of resuming professional interactions, access to specialized insurance training, modern insurance technologies, and integrated software systems, while on the other hand, in the absence of a precise policy framework, it can lead to renewed dependence on foreign insurance services and the weakening of domestic capacities. The experience of sanctions demonstrated that the necessity of covering major risks domestically led to the enhancement of risk assessment and policy-issuing knowledge, the formation of consortia, and the creation of a reinsurance fund; however, the concentration of risks within the country is considered hazardous from an underwriting perspective. Among the most significant harms of the sanctions period are the lack of international rating for Iranian insurance companies, deprivation of valid professional credentials, and the severance of ties with up-to-date knowledge, the consequences of which include reduced market transparency and intensified unhealthy competition over price-cutting. Proposed strategies emphasize preserving domestic achievements, initiating engagement with reputable rating agencies, dispatching and training professional human resources, separating the regulatory role of the Central Insurance from commercial operations, preparing regulations for the presence of foreigners, and ultimately strengthening the insurance culture to increase domestic demand.
Ofoghi, R. (2017). Opportunities Ahead of the Insurance Industry in the Post-Sanctions Era. Allameh Tabataba’i University Strategic Recommendations for Administrative Bodies, 1(1), 99–108. https://doi.org/10.22054/jicia.2017.20407
MLA
Ofoghi, R. "Opportunities Ahead of the Insurance Industry in the Post-Sanctions Era", Allameh Tabataba’i University Strategic Recommendations for Administrative Bodies, 1, 1, 2017, 99–108. doi: 10.22054/jicia.2017.20407
HARVARD
Ofoghi, R. (2017). 'Opportunities Ahead of the Insurance Industry in the Post-Sanctions Era', Allameh Tabataba’i University Strategic Recommendations for Administrative Bodies, 1(1), pp. 99–108. doi: 10.22054/jicia.2017.20407
CHICAGO
Ofoghi, R., "Opportunities Ahead of the Insurance Industry in the Post-Sanctions Era." Allameh Tabataba’i University Strategic Recommendations for Administrative Bodies, 1 1 (2017): 99–108, doi: 10.22054/jicia.2017.20407
VANCOUVER
Ofoghi R. Opportunities Ahead of the Insurance Industry in the Post-Sanctions Era. JICIA. 2017;1(1):99–108 (In Persian). doi: 10.22054/jicia.2017.20407