Purpose _ The purpose of this thesis is to analyse how risk culture influences a firm‘s risk taking
and control decisions (Underwriting risk).
Design/methodology/approach _ A sample of 90 employees from eighteen life insurance
companies in Ghana was used in this Study. The different propositions proposed are formulated
using exploratory factor analysis and the ordinary least square regression on a cross- sectional
Findings The results obtained show that, excessive controls and checks are in place, which
makes firm conservative in risk taking and make workers risk averse in transacting business.
Also risk awareness and education is not sufficiently promoted which could affect workers
orientation to risk management. In addition, incentives are inadequate to influence workers
attitude positively from going beyond rules and regulations to be obeyed.
Value/originality_ Risk culture is seen as an important driver of the effectiveness of a risk
management framework. The study also provided new empirical evidence on the influence of
risk culture variables ( i.e. formality, risk perception, risk focus and decision making) on firm‘s
risk taking and control decisions (underwriting risk).
Keywords: Risk culture, Organisational culture, risk management, underwriting risk.
Edu, F (2021). The Impact of Risk Culture in Underwriting Risk of Life Insurance Companies in Ghana. Afribary.com: Retrieved April 11, 2021, from https://afribary.com/works/the-impact-of-risk-culture-in-underwriting-risk-of-life-insurance-companies-in-ghana
Frontiers, Edu. "The Impact of Risk Culture in Underwriting Risk of Life Insurance Companies in Ghana" Afribary.com. Afribary.com, 06 Apr. 2021, https://afribary.com/works/the-impact-of-risk-culture-in-underwriting-risk-of-life-insurance-companies-in-ghana . Accessed 11 Apr. 2021.
Frontiers, Edu. "The Impact of Risk Culture in Underwriting Risk of Life Insurance Companies in Ghana". Afribary.com, Afribary.com, 06 Apr. 2021. Web. 11 Apr. 2021. < https://afribary.com/works/the-impact-of-risk-culture-in-underwriting-risk-of-life-insurance-companies-in-ghana >.
Frontiers, Edu. "The Impact of Risk Culture in Underwriting Risk of Life Insurance Companies in Ghana" Afribary.com (2021). Accessed April 11, 2021. https://afribary.com/works/the-impact-of-risk-culture-in-underwriting-risk-of-life-insurance-companies-in-ghana