scholarly journals Data Envelopment Analysis with Missing Data: An Application to Life Insurance Industry in Taiwan

2014 ◽  
Vol 2 (06) ◽  
pp. 43
Author(s):  
Yao-Hung Yang ◽  
Yueh-Chiang Lee
Keyword(s):  
Data Envelopment Analysis ◽  
Missing Data ◽  
Life Insurance ◽  
Insurance Industry ◽  
Data Envelopment ◽  
Life Insurance Industry

Assessing the Technical Efficiency of Traditional and Corporate Agents in Indian Life Insurance Industry: Slack-based Data Envelopment Analysis Approach

2018 ◽  
Vol 21 (2) ◽  
pp. 490-506 ◽  
Author(s):  
Ankitha Shetty ◽  
Savitha Basri
Keyword(s):  
Data Envelopment Analysis ◽  
Technical Efficiency ◽  
Life Insurance ◽  
Insurance Industry ◽  
Distribution Channels ◽  
Insurance Companies ◽  
Data Envelopment ◽  
Life Insurance Industry ◽  
Significant Difference

The distribution channels play an imperative role in the life insurance industry. In India, traditional and corporate agency are contributing immensely to the profitability of the insurance companies. The challenges faced by the distributional channels such as high attrition, soaring expense ratio and sales inefficiency have created the need to probe into the efficiency aspects of the channel players. In the absence of such studies in India, this article evaluates the technical efficiency of distribution channels in life insurance industry by analysing the data collected from 12 insurance companies for the period 2012 to 2016. The efficiency scores were obtained by applying data envelopment analysis that considered two inputs (number of agents and commission expenses) and two outputs (average business premium and total policies sold). The findings reveal no significant difference in the efficiency scores of bancassurance and traditional agents. Quiet life hypothesis that market share (ratio of premium contribution to total premium) of distributional channels and their efficiency scores are negatively correlated is not supported. Moreover, the slack analysis shows excess inputs per output generated for both the channels. If the companies that scored low in efficiency do not plug the leakages regarding commission as well a number of agents, adverse performance in the long-term and consequent financial crisis are inevitable.

scholarly journals Measuring Efficiency of Life Insurance Instution in Indonesia: Data Envelopment Analysis Approach

2017 ◽  
Vol 5 (1) ◽  
pp. 012
Author(s):  
Aam S. Rusydiana ◽  
Taufiq Nugroho
Keyword(s):  
Data Envelopment Analysis ◽  
Life Insurance ◽  
Insurance Industry ◽  
Insurance Companies ◽  
Data Envelopment ◽  
Insurance Company ◽  
Life Insurance Company ◽  
Life Insurance Industry ◽  
Measuring Efficiency ◽  
Input Variables

This study aims to measure the level of efficiency of the life insurance industry in Indonesia. The calculation of the efficiency level in this study is relative, not absolute. The approach used is Data Envelopment Analysis (DEA). There are 8 research objects: Prudential, BNI Life, PaninDai-IchiLife, Asuransi Jiwasraya and Life Insurance Adisaranan Wanaartha, Takaful Takaful Insurance, Amanahjiwa Giri sharia insurance and Al-Amin sharia life insurance. This study consists of three input variables (cost of Commissive (X1), Operational Cost (X2), Total Equity (X3) and 2 output variables (Premium) (Y1) and Investment Revenue (Y2)). The results explain that there are 15 perfectly efficient DMUs (100%). And an inefficient of 24 DMU, consisting of 7 DMU conditions IRS and 17 DMU with DRS conditions. Of all the DMU observed, Prudential insurance is a life insurance company that is able to maintain its gradual efficiency level from 2013 to 2016 when compared to other life insurance in this observation. In general, the main factor inefficiency of life insurance industry in Indonesia (in observation) from 2012 to 2016 is from the output side. To be more efficient then life insurance companies should increase the value of premiums by 91% and investment income of 8%.

Two-Stage Evaluation of Life Insurance Industry in Taiwan Using Data Envelopment Analysis

2012 ◽  
Vol 468-471 ◽  
pp. 2588-2598
Author(s):  
Hsien Ta Lin
Keyword(s):  
Data Envelopment Analysis ◽  
Life Insurance ◽  
Production Efficiency ◽  
Insurance Industry ◽  
Insurance Companies ◽  
Investment Efficiency ◽  
Data Envelopment ◽  
Efficiency Evaluation ◽  
Two Stage ◽  
Overall Efficiency

This study sourced the 2010 data of 25 Taiwanese life insurance companies, and conducted data envelopment analysis (DEA) to evaluate their operating efficiencies. The results can provide references for insurance companies and relevant institutions. The findings showed that there are nine DMUs with an overall efficiency of 1 under DEA at the single stage. Under DEA production efficiency evaluation, there are 15 DMUs with an overall efficiency of 1. Under second stage investment efficiency evaluation, there are 8 DMUs with an overall efficiency of 1. The management matrix diagram classifies 25 life insurance companies into four types, and suggestions are provided for each type of companies for improvements. The evaluation model of two-stage DEA can help measure operational performance and determine the different operations of each stage. The findings indicated that most companies are high product efficiency and low profit or lower product efficiency and profit than other insurance companies. The result can serve as decision references for relevant supervisory authorizes and investors, and in particular, provide reference indicators for life insurance companies, or the supervisory could modify relevant law under not affecting inventors’ benefits.

scholarly journals Has Accession to the European Union Affected the Efficiency of Croatian Insurance Companies?

2021 ◽  
Vol 24 (1) ◽  
pp. 67-98
Author(s):  
Maja Pervan ◽  
Marijana Ćurak ◽  
Tomislava Pavić Kramarić
Keyword(s):  
Technical Efficiency ◽  
Life Insurance ◽  
Insurance Industry ◽  
Returns To Scale ◽  
Insurance Companies ◽  
Data Envelopment ◽  
The European Union ◽  
Average Increase ◽  
Life Insurance Industry ◽  
The Eu

Abstract Accession of Croatia to the EU brought legal, regulatory and market changes for the insurance companies. The question that arises is whether the new environment in which the companies operate has improved their efficiency. Accordingly, the aim of this paper is to separately estimate the efficiency of non-life and life insurance industry in Croatia and to compare it through the period before (2009-2012) and after (2013-2018) Croatian accession to the EU. The research is based on the Data Envelopment Analysis and the obtained results indicate an average increase in overall technical efficiency in both, non-life and life sector in period after Croatia’s accession to the EU. Still, this increase was not proved to be significant. Additionally, although increase in pure technical efficiency was significant in non-life sector, an insignificant slight decrease is recorded in life sector. Finally, insurers conducting (non)life business activities are mainly operating at increasing returns to scale.

THE MANIFESTATIONS OF CUSTOMER LOYALTY IN INDIAN LIFE INSURANCE INDUSTRY: AN EMPIRICAL EXAMINATION

2016 ◽  
Vol 12 (02) ◽  
Author(s):  
Medha Srivastava ◽  
Alok Kumar Rai
Keyword(s):  
Customer Loyalty ◽  
Life Insurance ◽  
Recent Literature ◽  
Insurance Industry ◽  
Empirical Examination ◽  
Consumption Decisions ◽  
Life Insurance Industry ◽  
Product Service ◽  
Brand Attributes ◽  
Loyal Customers

The widespread reverence for customer loyalty among marketers and businesses all across the globe is inspired from its manifestations since it’s the consumption decisions of loyal customers that leave a mammoth mark over the revenues and growth of a firm. A throng of behavioural, attitudinal and cognitive manifestations of customer loyalty are available in the literature some of which are widely acknowledged and accepted whereas others call for further inquiry. These manifestations of loyalty among customers are generally pinned down through their actions (Zeithaml et al., 1996; Jones et al., 2000) or their attitude towards the company or a particular product/ service (Javalgi and Moberg, 1997; Butcher et al., 2001). However, recent literature suggests that another outcome of loyalty is customer preferring a particular service provider to others based upon the conscious evaluation of brand attributes (Gremler and Brown, 1996; Butcher et al., 2001). The paper intends to explore and empirically test various manifestations of customer loyalty in the context of life insurance services thereby, extending the existing knowledge of customer loyalty by outlining the distinctive nature of customer loyalty outcomes and offering useful insights to the marketing practitioners in life insurance industry. The study further groups these manifestations into distinct outcome classes and empirically evaluates them by comparing and contrasting each with the other. It also aims to enrich the literature of customer loyalty by developing and validating a scale for measurement of customer loyalty outcomes with special reference to life insurance services.

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