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- All HBS Web (742)
- Faculty Publications (422)
- 2019
- Working Paper
Thinking Outside the Box (12): The Benefits of Increased Transparency in Employer-Sponsored Health Insurance for the 180 Million Insured
By: Regina E. Herzlinger and Barak D. Richman
Economists have long noted that the tax exclusion of employer-sponsored insurance (ESI) caused workers to purchase health plans that differ in price and other characteristics from those they would otherwise choose for themselves. We explore the short-term and long-term...
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Keywords:
After-tax Income;
Consumer-driven Health Care;
Health Care Costs;
Health Insurance;
Income Inequality;
Tax Policy;
Health Care and Treatment;
Cost;
Insurance;
Income;
Equality and Inequality;
Taxation;
Policy;
United States
Herzlinger, Regina E., and Barak D. Richman. "Thinking Outside the Box (12): The Benefits of Increased Transparency in Employer-Sponsored Health Insurance for the 180 Million Insured." Duke Law School Public Law & Legal Theory Series, No. 2020-4, December 2019.
- December 1993
- Article
Risk Management: Coordinating Corporate Investment and Financing Policies
By: K. A. Froot, David S. Scharfstein and J. Stein
Keywords:
Catastrophe Risk;
Corporate Finance;
Banking And Insurance;
Hedging;
Banking;
Decision Choice And Uncertainty;
Financial Markets;
Insurance;
Policy;
Risk Management;
Natural Disasters;
Cost of Capital;
Asset Pricing;
Insurance Industry
Froot, K. A., David S. Scharfstein, and J. Stein. "Risk Management: Coordinating Corporate Investment and Financing Policies." Journal of Finance 48, no. 5 (December 1993): 1629–1658. (Revised from NBER Working Paper No. 4084, February 1993. Reprinted in RAE-Revista de Administração de Empresas, Management Journal of Fundação Getulio Vargas (FGV-EAESP), Business School for Administration in Sao Paulo, Brazil, volume no. 48, issue no. 1 (January-March 2008): 87-118. Reprinted in Insurance and Risk Management, Volume II, Corporate Risk Management, Part I: Theory on Why and How Firms Manage Risk, Chapter 3, edited by Gregory R. Niehaus, UK: Edward Elgar Publishing Ltd. (October 2008). Also in M.J. Brennan, The Theory of Corporate Finance from The International Library of Critical Writings in Financial Economics, edited by R. Roll, 1995; and in Merton Miller and Chris Culp, eds. Corporate Hedging in Theory and Practice: Lessons from Metallgesellschaft, Risk Books, 1999.)
- December 2011
- Article
Deposit Insurance and Subsidized Recapitalizations
By: Lucy White and Alan Morrison
The 2007–2009 financial crisis saw a vast expansion in deposit insurance guarantees around the world and yet our understanding of the design and consequences of deposit insurance schemes is in its infancy. We provide a new rationale for the provision of deposit...
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Keywords:
Financial Crisis;
Banks and Banking;
Insurance;
Taxation;
Business and Government Relations;
Banking Industry
White, Lucy, and Alan Morrison. "Deposit Insurance and Subsidized Recapitalizations." Journal of Banking & Finance 35, no. 12 (December 2011): 3400–3416.
- 1999
- Chapter
The Limited Financing of Catastrophe Risk: An Overview
By: K. Froot
Keywords:
Catastrophe Risk;
Corporate Finance;
Cost Of Capital;
Banking And Insurance;
Asset Pricing;
Hedging;
Banking;
Natural Disasters;
Insurance;
Risk Management;
Financial Markets;
Policy;
Insurance Industry
Froot, K. "The Limited Financing of Catastrophe Risk: An Overview." In The Financing of Catastrophe Risk, edited by Kenneth A. Froot, 1–22. Chicago: University of Chicago Press, 1999. (Revised from NBER Working Paper No. 6025, May 1997, and HBS Working Paper No. 98-023, September 1997.)
- July 1997 (Revised September 1997)
- Case
USAA: Catastrophe Risk Financing
By: Kenneth A. Froot and Mark Seasholes
Describes the first major risk financing using catastrophe bonds. Provides a basis for discussing the securitization of insurance risks.
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Keywords:
Financial Management;
Insurance;
Capital Markets;
Natural Disasters;
Risk Management;
Bonds;
Insurance Industry;
Insurance Industry;
United States
Froot, Kenneth A., and Mark Seasholes. "USAA: Catastrophe Risk Financing." Harvard Business School Case 298-007, July 1997. (Revised September 1997.)
- March 2024
- Case
Hippo: Weathering the Storm of the Home Insurance Crisis
By: Lauren Cohen, Grace Headinger and Sophia Pan
Rick McCathron, CEO of Hippo, considered how the firm’s underwriting model could account for the effects of climate change. Along with providing smart home packages, targeting risk-friendly customers, and using data-driven pricing, the Insurtech used technologically...
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Keywords:
Fintech;
Underwriters;
Big Data;
Insurance Companies;
Global Warming;
Business Model Design;
Weather And Climate Change;
Weather Insurance;
Earnings;
Business Model;
Forecasting and Prediction;
Climate Change;
Environmental Sustainability;
Green Technology;
Technological Innovation;
Natural Environment;
Natural Disasters;
Weather;
Business Strategy;
Competitive Advantage;
Business Earnings;
Insurance;
Social Issues;
Insurance Industry;
United States;
California
- 1999
- Chapter
The Moral Hazard of Insuring the Insurers
By: Brian J. Hall and James G. Bohn
Hall, Brian J., and James G. Bohn. "The Moral Hazard of Insuring the Insurers." In The Financing of Catastrophe Risk, edited by Kenneth A. Froot. Chicago: University of Chicago Press, 1999.
- 2016
- Working Paper
Entrepreneurship and Public Health Insurance
By: Gareth Olds
I examine the relationship between public health insurance and firm formation. Developing a variant of regression discontinuity, I find the Child Health Insurance Program lowered the child uninsured rate by 40% and increased self-employment by 15%. Monte Carlo evidence...
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Olds, Gareth. "Entrepreneurship and Public Health Insurance." Harvard Business School Working Paper, No. 16-144, June 2016.
- October 2018
- Case
American Family Insurance and the Artificial Intelligence Opportunity
By: Rajiv Lal and Scott Johnson
Keywords:
Artificial Intelligence;
Machine Learning;
Automation;
Analytics;
American Family;
American Family Insurance;
Insurance;
Business Organization;
Transformation;
Talent and Talent Management;
Employee Relationship Management;
Innovation Strategy;
Job Cuts and Outsourcing;
Risk and Uncertainty;
Mobile and Wireless Technology;
Technology Adoption;
Internet and the Web;
Applications and Software;
Corporate Strategy;
AI and Machine Learning;
Digital Transformation;
Insurance Industry;
Insurance Industry;
Wisconsin
- July 1989
- Article
On the Application of the Continuous-Time Theory of Finance to Financial Intermediation and Insurance
By: Robert C. Merton
Merton, Robert C. "On the Application of the Continuous-Time Theory of Finance to Financial Intermediation and Insurance." Geneva Papers on Risk and Insurance 14, no. 52 (July 1989): 225–262. (Reproduced as Chapter 14 in Continuous-Time Finance.)
- November 1981 (Revised February 1994)
- Background Note
Life Insurance
By: David E. Bell
Keywords:
Insurance
Bell, David E. "Life Insurance." Harvard Business School Background Note 182-139, November 1981. (Revised February 1994.)
- 2012
- Chapter
China: The Indigenization of Insurance
By: Elisabeth Koll and David Faure
The concept of insurance was introduced to China in the early nineteenth century by Westerners trading in Guangzhou and practised essentially among them. We argue that indigenization of insurance, in particular life insurance, was a slow process that stretched from the...
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Koll, Elisabeth, and David Faure. "China: The Indigenization of Insurance." In World Insurance: The Evolution of a Global Risk Network, edited by Peter Borscheid and Niels Viggo Haueter. Oxford University Press, 2012.
- Article
Consumers' Misunderstanding of Health Insurance
By: George Loewenstein, Joelle Y. Friedman, Barbara McGill, Sarah Ahmad, Suzanne Linck, Stacey Sinkula, John Beshears, James J. Choi, Jonathan Kolstad, David Laibson, Brigitte C. Madrian, John A. List and Kevin G. Volpp
We report results from two surveys of representative samples of Americans with private health insurance. The first examines how well Americans understand, and believe they understand, traditional health insurance coverage. The second examines whether those insured...
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Keywords:
Behavioral Economics;
Simplification;
Insurance;
Consumer Behavior;
Health Care and Treatment;
Cognition and Thinking;
Insurance Industry;
Insurance Industry;
United States
Loewenstein, George, Joelle Y. Friedman, Barbara McGill, Sarah Ahmad, Suzanne Linck, Stacey Sinkula, John Beshears, James J. Choi, Jonathan Kolstad, David Laibson, Brigitte C. Madrian, John A. List, and Kevin G. Volpp. "Consumers' Misunderstanding of Health Insurance." Journal of Health Economics 32, no. 5 (September 2013): 850–862.
- August 1994 (Revised May 1995)
- Case
Engineering Inspection & Insurance Company
By: Robert H. Hayes
Engineering Inspection & Insurance Co. (EIIC) is a small but highly successful company that offers machinery and boiler inspection and insurance services. After years of above-average growth and profits, both are retreating toward the industry average, policy delivery...
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Keywords:
Service Operations;
Business Strategy;
Organizational Design;
Organizational Structure;
Insurance;
Strategic Planning;
Problems and Challenges;
Insurance Industry;
United States
Hayes, Robert H. "Engineering Inspection & Insurance Company." Harvard Business School Case 695-009, August 1994. (Revised May 1995.)
- November 1995 (Revised November 1996)
- Background Note
Global Property and Casualty Insurance Industry, The
This case gives a broad overview of the global property and casualty insurance industry. Topics covered include insurance economics and risk bearing, insurance accounting, risk-based capital, catastrophic risk, underwriting cycles, the Lloyd's crisis, reinsurance, and...
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Mason, Scott P., and W. James Whalen. "Global Property and Casualty Insurance Industry, The ." Harvard Business School Background Note 296-033, November 1995. (Revised November 1996.)
- January 2021
- Case
Value-Based Insurance Design at Onex
By: Joshua Schwartzstein, Amitabh Chandra and Amram Migdal
The operating executives of Health and Benefits for Onex Partners, Megan Jackson Frye and Sam Camens, faced a challenge: Healthcare costs for employees of Onex’s portfolio companies were continuing to rise above the consumer price index, reflecting broader trends...
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Keywords:
Decision Making;
Cost vs Benefits;
Decision Choices and Conditions;
Decisions;
Finance;
Behavioral Finance;
Insurance;
Health;
Health Care and Treatment;
Human Resources;
Compensation and Benefits;
Markets;
Demand and Consumers;
Consumer Behavior;
Social Psychology;
Behavior;
Interests;
Motivation and Incentives;
Perception;
Insurance Industry;
Insurance Industry;
North America;
United States
Schwartzstein, Joshua, Amitabh Chandra, and Amram Migdal. "Value-Based Insurance Design at Onex." Harvard Business School Case 921-023, January 2021.
- April 29, 2020
- Article
The Case for AI Insurance
By: Ram Shankar Siva Kumar and Frank Nagle
When organizations place machine learning systems at the center of their businesses, they introduce the risk of failures that could lead to a data breach, brand damage, property damage, business interruption, and in some cases, bodily harm. Even when companies are...
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Keywords:
Artificial Intelligence;
Machine Learning;
Internet and the Web;
Safety;
Insurance;
AI and Machine Learning;
Cybersecurity
Kumar, Ram Shankar Siva, and Frank Nagle. "The Case for AI Insurance." Harvard Business Review Digital Articles (April 29, 2020).
- 2017
- Article
Agricultural Insurance and Economic Development
By: Shawn A. Cole and Wentao Xiong
This article provides a review of recent research on agricultural insurance (AI) in developing countries. Agricultural producers face a variety of significant risks; historically, only government-subsidized products have achieved widespread adoption. A recent...
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Keywords:
Agribusiness;
Insurance;
Developing Countries and Economies;
Adoption;
Risk Management;
Research;
Agriculture and Agribusiness Industry
Cole, Shawn A., and Wentao Xiong. "Agricultural Insurance and Economic Development." Annual Review of Economics 9 (2017): 235–262.
- August 2013 (Revised August 2014)
- Case
Aon Hewitt's Private Health Insurance Exchange
By: Regina E. Herzlinger, Aiden Y. Feng and Meghan D. Oliver
Aon Hewitt, a leading health insurance broker and consultant, is one of the first movers in forming exchanges to sell health insurance. What kinds of products should it offer on this exchange?
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- July 2010
- Technical Note
Note on the Insurance Industry
By: Clayton S. Rose and Scott Waggoner
This note provides an overview of the structure and function of the Insurance industry, with a primary focus on the U.S. It was designed to support the HBS MBA course "Managing the Financial Firm."
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Keywords:
Insurance;
Business or Company Management;
Industry Structures;
Insurance Industry;
United States
Rose, Clayton S., and Scott Waggoner. "Note on the Insurance Industry." Harvard Business School Technical Note 311-012, July 2010.