Sociological analysis of economic resilience of insurance funds with emphasis on Delphi method

Subject Areas : Journal of Iranian Social Development Studies

Ebrahim Sadeghifar ¹ , Hosahng Zahiri ² , Ahmad Meydari ³

1 - PhD Student in Sociology of Economy and Development, Garmsar Branch, Islamic Azad University, Semnan, Iran
2 - Department of Social Sciences, Garmsar Branch, Islamic Azad University, Semnan, Iran
3 - Department of Economics, Shahid Chamran University, Ahvaz, Iran

Received: 2022-06-17 Accepted : 2022-07-26 Published : 2024-06-10

Keywords: Economic resilience, resistance economy, neoliberal economic approach, welfare state, social security system, insurance funds.,

Abstract :

Economic resilience is the ability to withstand economic impulses in the face of sudden risks. Insurance funds are one of the main components of society's resistance at the macro and micro levels. "Sustainable insurance" is considered one of the most important pillars of the social security system in achieving development goals, including sustainable economic growth and social support. The aim of the research is sociological analysis of the concept, dimensions and indicators of economic resilience of insurance funds. The qualitative method was conducted using Delphi interviews. 12 interviews were conducted with "purposive" sampling method. The sample size was based on theoretical saturation. The findings of the research showed that Iran's economy is a combination of 2 neoliberal economic approaches and the welfare state. Resilience indicators of insurance funds include sustainability, redundancy, tact, reaction to risk, recovery. Among the components related to the economic resilience index, the component of redundancy and revivability has been of special importance. Insurance funds are severely challenged in the three characteristics of sustainability, adequacy of benefits and quality of governance. The status of the indicators related to these three characteristics has caused the "resilience" of the funds to become a serious risk. On the one hand, pension funds in Iran are facing investment restrictions because they are not connected to global financial markets, and on the other hand, they are facing political imposition in the management of their economic units. These two features distinguish them from their peers in the field of investment. The economic resilience of insurance funds is affected by the resistance economy, and this issue is a clear distinction from other countries. It can be said that the current situation of resilience of insurance funds is not so favorable. As a result, it can be stated that regarding the social security organization, resilience can be measured with actuarial calculations and based on this, by introducing different shocks to the organization, its financial consequences can be evaluated. Without considering these calculations and taking into account key indicators such as support ratio, capital return rate, available resources and the government's financial situation, it seems that the social security fund should also be described as a fragile fund.