Prioritizing Factors Influencing Financial Resilience in the Insurance Sector During Geopolitical Crises: A Focus on Emerging Technologies and Risk Management

nahid baharvand¹ mostafa salehi²

1) 0PhD in Economics, Insurance Expert at Alborz Insurance; Semnan University, Semnan, Iran
2) Deputy for Underwriting, Alborz Insurance, Lorestan, Iran

IOI Code : ACEE-ACABHK
Publication : 5th International Conference on Researches in Accounting, Economics, Management & Humanities(meaconf.com)
Abstract :
    Geopolitical crises challenge the financial resilience of insurance companies by increasing economic uncertainty, intensifying sanctions, causing exchange rate volatility, fueling inflation, and disrupting financial and commercial relations. This study aims to identify and prioritize the factors influencing the financial resilience of Iranian insurance companies amidst geopolitical crises—with a focus on modern technology and risk management—and to propose appropriate strategies for enhancing this resilience. This is an applied study employing a descriptive-analytical methodology with a mixed-methods approach. In the first phase, factors affecting financial resilience are identified and validated through a review of theoretical literature and semi-structured interviews with experts. Subsequently, the Fuzzy SWARA method is used to determine the relative weights and priorities of these factors. Following this, a SWOT analysis is conducted to evaluate strengths, weaknesses, opportunities, and threats, leading to the formulation of suitable strategies. The prioritization results indicate that liquidity management, claims-paying ability, capital adequacy, technical reserves, crisis and risk management, and economic volatility are significant factors influencing the financial resilience of insurance companies. Furthermore, the SWOT analysis identifies a defensive strategy (WT) as the optimal strategic orientation, emphasizing the mitigation of internal weaknesses and the control of external threats. Enhancing the financial resilience of insurance companies during geopolitical crises requires strengthening financial foundations, reducing operational vulnerabilities, improving risk management systems, and leveraging modern technologies in a targeted manner. In this regard, the development of intelligent liquidity management systems, the implementation of financial stress tests, the strengthening of cybersecurity, and the establishment of appropriate infrastructure for business continuity can help mitigate the impact of external threats and enhance the capacity of insurance companies to fulfill their financial obligations.

Keywords : financial resilience geopolitical crisis emerging technology fuzzy swara approach swot matrix