scholarly journals Analysis of commercial automobile insurance operating efficiency and Its influence factors of Chinese property insurance companies. –An empirical analysis based on SBM-DEA method and Tobit model

2019 ◽  
Keyword(s):  
Empirical Analysis ◽  
Influence Factors ◽  
Tobit Model ◽  
Insurance Companies ◽  
Operating Efficiency ◽  
Automobile Insurance ◽  
Property Insurance ◽  
Dea Method

Configuration analysis of influencing factors of operating efficiency based on fsQCA: evidence from China’s property insurance industry

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Zhiguang Li ◽  
Yaokuang Li ◽  
Wei Zhang
Keyword(s):  
Technical Efficiency ◽  
Insurance Industry ◽  
Qualitative Comparative Analysis ◽  
Insurance Companies ◽  
Operating Efficiency ◽  
Content Type ◽  
Leverage Ratio ◽  
Property Insurance ◽  
High Loss ◽  
Core Conditions

Purpose Based on the perspective of complexity theory, the operation process of property insurance companies can be regarded as a complex dynamic nonlinear chaotic system. This paper aims to measure the operating efficiency of 29 Chinese domestic property and casualty (P&C) companies and 18 foreign-invested P&C companies from 2011 to 2017 and outline the path to achieving high-quality development. Design/methodology/approach The data were obtained from the Chinese Insurance Yearbook and China Statistical Yearbook 2012–2018. The data envelopment analysis method was used to calculate the technical efficiency of property insurance companies and fuzzy set qualitative comparative analysis is used for configuration analysis of determinants affecting technical efficiency. Findings This paper founds the average technical efficiency of Chinese domestic P&C insurance companies was 0.914 and that of foreign-invested P&C insurance companies was 0.895. The average total factor productivity of Chinese domestic P&C insurance companies was 1.058 and that of foreign-invested P&C insurance companies was 1.051. There were three modes to improve the company’s technical efficiency, with high loss ratio and low reinsurance ratio, poor employee education and higher leverage ratio and high leverage ratio and low reinsurance ratio as the core conditions. Originality/value This study puts forward four applicable, targeted and proven ways to improve the technical efficiency of China’s P&C insurance industry. These configurations were verified by the cases of existing property insurance companies, which can provide practical references for the insurance industry.

Research on the improvement of technical efficiency of China's property insurance industry: a fuzzy-set qualitative comparative analysis

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Zhiguang Li ◽  
Yaokuang Li ◽  
Dan Long
Keyword(s):  
Comparative Analysis ◽  
Technical Efficiency ◽  
Fuzzy Set ◽  
Insurance Industry ◽  
Qualitative Comparative Analysis ◽  
Insurance Companies ◽  
Operating Efficiency ◽  
Scale Efficiency ◽  
Content Type ◽  
Property Insurance

PurposeFrom the perspective of cause and effect, the operational processes of property insurance companies can be considered as historical events. The purpose of this study is to measure the operating efficiency of China's property insurance industry, explore the determinants that affect technical efficiency and outline the path to achieving high-quality development.Design/methodology/approachWe chose 44 Chinese property insurance companies as research objects. The data were obtained from the Chinese Insurance Yearbook and China Statistical Yearbook 2015–2017. First, the data envelopment analysis (DEA) method was used to calculate the technical efficiency of property insurance companies. Then, Tobit regression and quantile regression were adopted to explore the influencing factors of technical efficiency. Finally, the fuzzy-set qualitative comparative analysis (fsQCA) method was employed to summarize the path to improving the operating efficiency of property insurance companies.FindingsThe empirical results in the first stage suggested that the operation efficiency of China's property insurance industry was technically inefficient, and the scale efficiency was relatively better than the pure technical efficiency. In the second stage, we observed that the drivers for firm size, reinsurance rate, claim ratio and equity restriction were important determinants of an insurance firm's efficiency.Research limitations/implicationsWe also put forward four applicable, targeted and proven ways to improve the technical efficiency of property insurance companies. These configurations are verified by cases of existing property insurance companies, which can provide practical references for the insurance industry.Originality/valueOur research enriches the insurance literature and efficiency methods, particularly regarding the specific paths of improving the technical efficiency. The relationship between elements and results is analyzed from a systematic perspective, and the research results are not only more consistent with what logic might imply but also more instructive for the improvement of reality.

SUBROGATION IN INSURANCE CONTRACT

2018 ◽  
Vol 28 (6) ◽  
pp. 1985-1991
Author(s):  
Tatjana Dimov
Keyword(s):  
Insurance Contract ◽  
Insurance Companies ◽  
Property Insurance ◽  
Insured Person ◽  
Legal Position ◽  
Insured Loss ◽  
Injured Party ◽  
The Right ◽  
Insurance Agreement ◽  
Responsible Person

Subrogation is a legal right characteristically reserved by property insurers. Subrogation occurs in property insurance and in some particular cases of liability insurance. The doctrine of subrogation operates to ensure protection of certain specific principles relevant to the property insurance including the principle of indemnification whereby the compensation received is no more and no less than a full indemnity for the insured loss or damage suffered by the insured due to loss occurrence, the principle of non-cumulation in terms of claims under the same insurance contract and the principle which excludes claiming indemnity from the person who is legally responsible for causing the loss, because otherwise the insurance contract may be an unjustified source of profit for the insured as the insured would get double recovery or paid out twice for the same claim.With the payment of the reimbursement from an insurance agreement on the insurer, all rights that the insured has towards the persons responsible for the damage up to the amount of the paid compensation are transferred. With the subrogation, the insurer takes up the legal position of the insured person and exercises his right to subrogation from the rights of the insured (derivative acquisition of the right), so that the insurer exceeds the claims in scope and amount as the insured had towards the perpetrator.Subrogation is the right of the insurer, it is not his obligation. The insurer is not obliged to use this right to transfer the rights to the responsible person.The notion of subrogation is often associated with the concept of insurance regression. But there is a difference between these two terms: recourse is the right of the insurer to claim the amount of compensation that he has paid to the insured (injured parties) from the harmful person, while subrogation is the transfer of the right (the claim for damages to the responsible person) from the insured to the insurer up to the amount of the compensation paid on the basis of an insurance contract. The right to recourse is a consequence of the existence of subrogation, i.e. transfer of the rights of the insured person to the responsible person, and which is reached by the law itself.Тhe subrogation doctrine also operates to ensure that the defendant or the person who is legally responsible for the loss shall not be absolved of liability under the civil law. Namely, the perpetrator should bear the consequences of his liability for the caused damage, and therefore the legislator of the insurer (as one of the contractual parties in insurance contract) has recognized the right what he has paid the injured party (as the contractual party in the insurance contract called the insured) to calm from the perpetrator.Furthermore, subrogation doctrine operates to ensure profit for the insurance companies whereby the reimbursement funds the claims or sum insured are covered from additionally grow; therefore, this doctrine is of great importance to the insurers.

PERFORMANCE MEASUREMENT IN MILITARY PROVISIONS: THE CASE OF RETAIL STORES OF TAIWAN'S GENERAL WELFARE SERVICE MINISTRY

2007 ◽  
Vol 24 (03) ◽  
pp. 313-332 ◽  
Author(s):  
CHYAN YANG ◽  
JAMES TSUNG-CHENG WANG ◽  
WEN-MIN LU
Keyword(s):  
Operating Efficiency ◽  
Retail Stores ◽  
Data Envelopment ◽  
National Defense ◽  
Welfare Service ◽  
General Welfare ◽  
Operational Management ◽  
Potential Applications ◽  
Dea Method ◽  
The Military

This paper aims to explore the operating efficiency and the benchmark-learning roadmap of the military retail stores for Taiwan's General Welfare Service Ministry (GWSM). This study also presents an extension to the data envelopment analysis (DEA) method, by incorporating the traditional DEA, stratification DEA, attractiveness measure, and progress measure for assessing the performance of 31 retail stores of GWSM. The assessment can assist the Ministry of National Defense to improve the operational management of GWSM and to help the military retail stores on better delivering and efficient service to soldiers, veterans, and their dependents. The potential applications and strengths of DEA in assessing the military retail stores are highlighted.

Calculation of regional agricultural production efficiency and empirical analysis of its influencing factors-based on DEA-CCR model and Tobit model

2021 ◽  
pp. 1-14
Author(s):  
Pengfei Zhou ◽  
Siyuan Yang ◽  
Xiaohang Wu ◽  
Yang Shen
Keyword(s):  
Empirical Analysis ◽  
Influencing Factors ◽  
Agricultural Production ◽  
Production Efficiency ◽  
Malmquist Index ◽  
Tobit Model ◽  
Annual Growth Rate ◽  
Productivity Level ◽  
Agricultural Modernization ◽  
Ccr Model

The improvement of agricultural production efficiency and the transformation of production mode are the core of promoting agricultural modernization. Taking Chongqing as a sample case, this paper uses DEA-CCR Model, Malmquist Index and Tobit Model to calculate and analyze its agricultural production efficiency and its influencing factors, and accurately identifies the problems existing in its agricultural transformation and development. It has an important policy reference value for improving agricultural innovation and competitiveness, promoting the steady development of rural revitalization, and realizing agricultural modernization, which also provides some reference and enlightenment for countries or regions with similar characteristics of mountain agriculture development in the world to enhance regional agricultural production efficiency. Through empirical analysis and investigation, it is found that the overall agricultural production efficiency of Chongqing remains at the productivity level of 0.8 from 2009 to 2018, with an average annual growth rate of 12.8%, but there is a large gap in the level of regional development. Through Malmquist Index decomposition, it is found that agricultural technology progress has the greatest contribution to the improvement of production efficiency. Financial support for agriculture, urbanization level, regional economic development level and highway mileage have a significant positive impact on production efficiency, while the level of farmers’ disposable income has a negative impact on the increase of production efficiency, and the income gap between urban and rural residents fails to pass the significance test.

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