On this page, we have provided all the information about DEA and Insurance that may be interesting and useful to users. This page contains the following sections:

1. Background

2. Key papers

3. New interesting papers

4. Related subject

5. Statistics

6. References

Highlights:

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BACKGROUND

Insurance, a financial concept designed to manage risks, seeks to provide security for economic growth or to hedge against uncertain loss (Kaffash, 2019). Insurance industry extends the productivities and services with providing safety and confidence. These companies have positive effects on economics growth of the country. Efficiency measurement in the insurance companies increases the quality of their activities and also assists them to identify and solve the problems (Pawar, 2015). Data envelopment analysis (DEA) is a technique that is widely applied to measure the relative efficiency of a set of production systems. Fecher, Kessler, Perelman, and Pestieau (1993) is the first study that applies DEA in evaluating the performance of insurance firms. Thereafter, many researchers studied insurance business by using DEA techniques. Cummins and Weiss (2000), Cummins and Weiss (2013), Eling and Luhnen (2010), Liu, Lu, Lu, and Lin (2013a) and Kaffash, Azizi, Huang and Zhu (2019) reviewed the efficiency of insurance firms for which frontier efficiency methods are used.
Types of Insurance: Life insurance and non-life insurance.

Frequently used inputs:
Labor, Number of employees/specialist
Capital, Capital debt
Equity, Equity capital
Materials and business services

This section introduces key papers in the DEA and insurance. These papers have had a significant impact on the DEA and its application in insurance sector.

Productive Performance of the French Insurance Industry
Authors: E. Fecher, D. Kessler, S. Perelman, P. Pestieau
Journal: The Journal of Productivity Analysis
Published: 1993
Abstract: The purpose of this paper is to provide for both life and non-life insurance an assessment of the relative productive performance of French companies. We use parametric and nonparametric approaches to construct a frontier to be used as a yardstick of productive efficiency. Our data basis covers 84 life and 243 non-life companies for the period 1984-1989. The main findings show a high correlation between parametric and nonparametric results and a wide dispersion in the rates of inefficiency across companies. This dispersion can be reduced when controlling for variations in scale, ownership, distribution, reinsurance, and claims ratios.

 

 

 

 

Efficiency decomposition in two-stage data envelopment analysis: An application to non-life insurance companies in Taiwan
Authors: Chiang Kao , Shiuh-Nan Hwang
Journal: European Journal of Operational Research
Published: 2008
Abstract: The efficiency of decision processes which can be divided into two stages has been measured for the whole process as well as for each stage independently by using the conventional data envelopment analysis (DEA) methodology in order to identify the causes of inefficiency. This paper modifies the conventional DEA model by taking into account the series relationship of the two sub-processes within the whole process. Under this framework, the efficiency of the whole process can be decomposed into the product of the efficiencies of the two sub-processes. In addition to this sound mathematical property, the case of Taiwanese non-life insurance companies shows that some unusual results which have appeared in the independent model do not exist in the relational model. In other words, the relational model developed in this paper is more reliable in measuring the efficiencies and consequently is capable of identifying the causes of inefficiency more accurately. Based on the structure of the model, the idea of efficiency decomposition can be extended to systems composed of multiple stages connected in series.

 

Frontier Efficiency Methodologies to Measure Performance in the Insurance Industry: Overview, Systematization, and Recent Developments
Authors: Martin Eling and Michael Luhnen
Journal: The International Association for the Study of Insurance Economics
Published: 2010
Abstract: The purpose of this paper is to provide an overview on frontier efficiency measurement in the insurance industry, a topic of great interest in the academic literature during the last several years. We provide a comprehensive survey of 95 studies with a special emphasis on innovations and recent developments. We review different econometric and mathematical programming approaches to efficiency measurement in insurance and discuss the choice of input and output factors. Furthermore, we categorise the 95 studies into 10 different areas of application and discuss selected results. While there is a broad consensus with regard to the choice of methodology and input factors, our review reveals large differences in output measurement. Significant need for future research can be identified, for example, with regard to analysis of organisational forms, market structure and risk management, especially in the international context.

 

Consolidation and efficiency in the US life insurance industry
Authors: J. David Cummins, Sharon Tennyson, Mary A. Weiss
Journal: Journal of Banking & Finance
Published: 1999
Abstract: This paper examines the relationship between mergers and acquisitions, efficiency, and scale economies in the US life insurance industry. We estimate cost and revenue efficiency over the period 1988±1995 using data envelopment analysis (DEA). The Malmquist methodology is used to measure changes in efficiency over time. We find that acquired firms achieve greater efficiency gains than firms that have not been involved in mergers or acquisitions. Firms operating with non-decreasing returns to scale (NDRS) and financially vulnerable firms are more likely to be acquisition targets. Overall, mergers and acquisitions in the life insurance industry have had a beneficial effect on efficiency. 

NEW INTERESTING PAPERS

Efficiency and profitability in the global insurance industry
Authors: M. Elinga, R. Jiab
Journal: Pacific-Basin Finance Journal
Published: 2019
Abstract: We examine the relationship between firm efficiency (E) and profitability (P) with a global dataset of over 5000 insurance companies. Consistent with previous studies in banking and insurance, we document a significantly positive correlation between the efficiency measures and profitability measures. Beyond the extant evidence, we find significant industry dependency in the E-P relationship driven by industry idiosyncrasies, whereas efficiency is more critical to the profitability of life insurers than to that of nonlife insurers. We also show that the E-P relationship is nonlinear: the marginal impact of efficiency on profitability decreases as the insurer's efficiency is close to the best practice.

 

Fixed cost allocation based on the principle of efficiency invariance in two-stage systems
Authors: Q. An , P. Wang , A. Emrouznejad , J. Hu
Journal: European Journal of Operational Research
Published: 2019
Abstract: Fixed cost allocation among groups of entities is a prominent issue in numerous organisations. Addressing this issue has become one of the most important topics of the data envelopment analysis (DEA) methodology. In this study, we propose a fixed cost allocation approach for basic two-stage systems based on the principle of efficiency invariance and then extend it to general two-stage systems. Fixed cost allocation in cooperative and noncooperative scenarios are investigated to develop the related allocation plans for two-stage systems. The model of fixed cost allocation under the overall condition of efficiency invariance is first developed when the two stages have a cooperative relationship. Then, the model of fixed cost allocation under the divisional condition of efficiency invariance wherein the two stages have a noncooperative relationship is studied. Finally, the validation of the proposed approach is demonstrated by a real application of 24 nonlife insurance companies, in which a comparative analysis with other allocation approaches is included.
 

 

Modeling Investments in the Dynamic Network Performance of
Insurance Companies
Authors: K.Tone , Q. Long Kweh , W. Lu , I. Wei Kiong Ting
Journal: Omega
Published: 2018
Abstract: This study proposes a dynamic two-stage network data envelopment analysis (DEA) model with and without carry-over variables to evaluate corporate performance. Carry-over variables are those continuously held from one term to another, reflecting dynamic components. Apart from considering dynamic aspects, the DEA model called dynamic slacksbased measure with network structure can address various inputs and outputs at both stages and multiple intermediates that link the two stages. We demonstrate the applicability of the proposed model under the assumption of variable returns to scale to the performance evaluation of 30 insurance companies in Malaysia from 2008 to 2016. Specifically, we gauge resource management and investment efficiencies as the two production stages of insurance companies. While investment asset is considered the carry-over variable, investment income is treated as one of the ultimate outputs. Results indicate that the discriminatory power of the overall performance is high when we consider investments, particularly investment assets, as a carry-over variable. Moreover, we employ a multi-criteria decision analysis to compare all insurance companies in a common setting, including each ratio of liquidity, profitability, and leverage. The decision to include these ratios is made after performing regression analyses. This study entails practical implications for insurers and policy makers in terms of resource management and investment after considering investments and relevant performance ratios.

 

A survey of data envelopment analysis applications in the insurance industry 1993–2018

Authors: Kaffash S., Roza Azizi, Ying Huang, Joe Zhu

Journal: European Journal of Operational Research
Published: 2019
Abstract: Recently in the insurance sector, efficiency measurement of insurance firms has attracted great interest from investors, financial market analysts, insurance regulators, and researchers alike. Among several performance assessment approaches, Data Envelopment Analysis (DEA) has become one of the tools that have been commonly adopted to evaluate firms in various fields. Given the increasing interest in ap- plying DEA to assessing relative efficiency or performance of insurance firms and that there has been a growing body of literature on DEA applications in the insurance industry since the last comprehensive published review in the field (i.e., Cummins and Weiss, 2013), an updated survey of DEA applications focusing on the insurance industry is necessary. In this study, we review and analyze 132 DEA application studies in the insurance industry published from 1993 through July 2018, covering both applications and methodologies. Regarding the applications, we show that the impact of recent changes such as Insurtechs, market transparency, and micro-insurance institutions on the efficiency of insurance firms has not yet been touched. As to methodologies, we pinpoint that the newly-developed DEA approaches such as shared resources dynamic network DEA, modified directional distance function, satisficing DEA, and fuzzy DEA lack in the extant literature. Through the analyses, we highlight the existing gaps in the DEA applications in the insurance industry for future research. 

STATISTICS

In this section, we list a series of selected descriptive statistics involving the numbers and distributions of papers, journals and keywords of DEA and insurance related articles in the past years.

REFERENCES

133. Economies of Scope, Organizational Form, and Insolvency Risk: Evidence from the Takaful Industry
Khalid Al Amri, J. David Cummins, Mary A. Weiss
Journal of International Financial Markets, Institutions and Money, In press, journal pre-proof Available online
2020
Keywords:

132. The efficiency and productivity of Public Services Hospital in Indonesia
Irwandy, Amal C. Sjaaf, …Harimat Hendrawan
Enfermería Clínica
2020
Keywords:

131. Efficiency and profitability in the global insurance industry
Martin Eling, Ruo Jia
Pacific-Basin Finance Journal
2019
Keywords:

130. Fixed cost allocation based on the principle of efficiency invariance in two-stage systems
Qingxian An, Ping Wang, …Junhua Hu
European Journal of Operational Research
2020
Keywords:


129. A survey of data envelopment analysis applications in the insurance industry 1993–2018
Sepideh Kaffash, Roza Azizi, …Joe Zhu
European Journal of Operational Research
2020
Keywords:

128. Inefficiency identification for closed series production systems
Chiang Kao
European Journal of Operational Research
2019
Keywords:

127. Modeling investments in the dynamic network performance of insurance companies
Kaoru Tone, Qian Long Kweh, …Irene Wei Kiong Ting
Omega
2019
Keywords:

126. Measuring and decomposing the gender pay gap: A new frontier approach
Carla A. F. Amado, Sérgio P. Santos, José M. S. São José
European Journal of Operational Research
2018
Keywords:

125. Governance mechanisms and efficiency: Evidence from an alternative insurance (Takaful) market
Yusuf Karbhari, Ibrahim Muye, …Marwa Elnahass
Journal of International Financial Markets, Institutions and Money
2018
Keywords:

124. Performance analysis of takaful and conventional insurance companies in Saudi Arabia.
Akhtar, M. H.
Benchmarking: An International Journal, 25 (2), 677-695.
2018
Keywords:

123. Multi-attribute assessment of the financial performance of non-life insurance companies: Empirical evidence from Europe.
Doumpos, M. , Galariotis, E. , Nocera, G. , & Zopounidis, C.
Financial decision aid using multiple criteria (pp. 1–17). Springer .
2018
Keywords:

122. Business failure, efficiency, and volatility: Evidence from the European insurance industry.
Eling, M. , & Jia, R.
International Review of Financial Analysis, 59 , 58–76 .
2018
Keywords:

121. Measuring human, physical and structural capital efficiency performance of insurance companies.
Nourani, M. , Chandran, V. , Kweh, Q. L. , & Lu, W.
Social Indicators Research, 137 (1), 281–315 .
2018
Keywords:

120. Two-stage network DEA: Who is the leader?
Haitao Li, Chialin Chen, …Joe Zhu
Omega
2018
Keywords:

119. Data envelopment analysis application in sustainability: The origins, development and future directions.
Zhou, H. , Yang, Y. , Chen, Y. , & Zhu, J.
European Journal of Operational Research, 264 (1), 1–16 .
2018
Keywords:

118. Evaluating operation and coordination efficiencies of parallel-series two-stage system: A data envelopment analysis approach
Jianfeng Ma, Lin Chen
Expert Systems with Applications
2018
Keywords:

117. The structure of the global reinsurance market: An analysis of efficiency, scale, and scope
Christian Biener, Martin Eling, Ruo Jia
Journal of Banking & Finance
2017
Keywords:

116. Target intermediate products setting in a two-stage system with fairness concern
Qingxian An, Haoxun Chen, …Liang Liang
Omega
2017
Keywords:

115. Technology gaps and capacity issues in African insurance companies: Selected country evidence.
Barros, C. P. , & Wanke, P.
Journal of International Development, 29 (1), 117-133.
2017
Keywords:

114. Under pressure: How the business environment af- fects productivity and efficiency of European life insurance companies.
Eling, M. , & Schaper, P.
European Journal of Operational Research, 258 (3), 1082–1094 .
2017
Keywords:

113. Data envelopment analysis in financial services: A citations network analysis of banks, insurance companies and money market funds.
Kaffash, S. , & Marra, M.
Annals of Operations Research, 253 (1), 307–344 .
2017
Keywords:

112. Business excellence: The managerial and value-creation efficiencies of the insurance companies.
Nourani, M. , Devadason, E. S. , Kweh, Q. L. , & Lu, W.
Total Quality Management & Business Excellence, 28 (7-8), 879–896 .
2017
Keywords:

111. Solvency surveillance and financial crisis: Evidence from the Spanish insurance industry.
Rubio-Misas, M. , & Fernández-Moreno, M.
Spanish Journal of Finance and Accounting/Revista Española De Financiación y Contabilidad, 46 (3), 272–297 .
2017
Keywords:

110. Efficiency-solvency linkage of indian general insurance companies: A robust non-parametric approach.
Sinha, R. P.
Eurasian Economic Review, 7 (3), 353–370 .
2017
Keywords:

109. A note on two-stage network DEA model: Frontier projection and duality
Sungmook Lim, Joe Zhu
European Journal of Operational Research
2016
Keywords:

108. The determinants of efficiency and productivity in the Swiss insurance industry.
Biener, C. , Eling, M. , & Wirfs, J. H.
European Journal of Operational Research, 248 (2), 703-714.
2016
Keywords:

107. Integration and efficiency convergence in European life insurance markets.
Cummins, J. D., & Rubio-Misas, M.
SSRN Electronic Journal. doi: 10.2139/ssrn. 2965742.
2016
Keywords:

106. Efficiency and productivity in the US property-liability insurance industry: Ownership structure, product and distribution strategies.
Cummins, J. D. , & Xie, X.
Data envelopment analysis (pp. 113–163). Springer .
2016
Keywords:

105. The impacts of risk-management committee characteristics and prestige on efficiency.
Wu, Y. , Kweh, Q. L. , Lu, W. , & Azizan, N. A.
Journal of the Operational Research Society, 67 (6), 813–829 .
2016
Keywords:

104. Incorporating risk into bank efficiency: A satisficing DEA approach to assess the Greek banking crisis.
Tsolas, I. E. , & Charles, V.
Expert Systems with Applications, 42 (7), 3491–3500 .
2015
Keywords:

103. Intellectual capital based performance improve- ment, study in insurance firms.
Zakery, A. , & Afrazeh, A.
Journal of Intellectual Capital, 16 (3), 619–638 .
2015
Keywords:

102. Restricting weight flexibility in fuzzy two-stage DEA
Shiang-Tai Liu
Computers & Industrial Engineering
2014
Keywords:

101. Efficiency determinants and capacity issues in Angolan insurance companies.
Barros, C. P. , Dumbo, S. , & Wanke, P.
South African Journal of Economics, 82 (3), 455-467.
2014
Keywords:

 100. Insurance companies in Mozambique: A two-stage DEA and neural networks on efficiency and capacity slacks. 

Barros, C. P. , & Wanke, P.
Applied Economics, 46 (29), 3591-3600.
2014
Keywords:

99. Intellectual capital and productivity of Malaysian general insurers.
Chen, F. , Liu, Z. , & Kweh, Q. L.
Economic Modelling, 36 , 413-420 .
2014
Keywords:

98. Cost efficiency and board composition under different takaful insurance business models.
Kader, H. A. , Adams, M. , Hardwick, P. , & Kwon, W. J.
International Review of Financial Analysis, 32 , 60–70 .
2014
Keywords:

97. Efficiency measure of insurance v/s takaful firms us- ing DEA approach: A case of Pakistan.
Khan, A. , & Noreen, U.
Islamic Economic Studies, 130 (1155), 1–19 .
2014
Keywords:

96. Dynamic efficiency: Intellectual capital in the Chinese non-life insurance firms.
Long Kweh, Q. L. , Lu, W. , & Wang, W.
Journal of Knowledge Management, 18 (5), 937–951 .
2014
Keywords:

95. Intellectual capital and performance in the Chinese life insurance industry.
Lu, W. , Wang, W. , & Kweh, Q. L.
Omega, 42 (1), 65–74 .
2014
Keywords:

94. Insurer performance and intermediary remuneration: The impact of abandonment of contingent commissions.
Ma, Y. , Pope, N. , & Xie, X.
The Geneva Papers on Risk and Insurance: Issues and Practice, 39 (2), 373–388 .
2014
Keywords:

93. Contingent commissions, insurance intermediaries, and insurer performance.
Ma, Y. , Pope, N. , & Xie, X.
Risk Management and Insurance Review, 17 (1), 61–81 .
2014
Keywords:

92. Two-stage DEA method in identifying the exogenous factors of insurers’ risk and investment management efficiency.
Yakob, R. , Yusop, Z. , Radam, A. , & Ismail, N.
Journal of Sains Malaysian, 43 (9), 1439–1450 .
2014
Keywords:

91. Intellectual capital and performance in the Chinese life insurance industry
Wen-Min Lu, Wei-Kang Wang, Qian Long Kweh
Omega
2014
Keywords:

90. Environment-adjusted total-factor energy efficiency of Taiwan's service sectors
Chin-Yi Fang, Jin-Li Hu, Tze-Kai Lou
Energy Policy
2013
Keywords:

89. Multi-period efficiency and Malmquist productivity index in two-stage production systems
Chiang Kao, Shiuh-Nan Hwang
European Journal of Operational Research
2013
Keywords:

88. Health insurance reform and efficiency of township hospitals in rural China: An analysis from survey data
Martine Audibert, Jacky Mathonnat, …Anning Ma
China Economic Review
2013
Keywords:

87. Analyzing firm performance in the insurance industry using frontier efficiency and productivity methods.
Cummins, J. D. , & Weiss, M. A.
Handbook of insurance (pp. 795–861). Springer.
2013
Keywords:

86. An efficiency comparison of the non-life insurance industry in the BRIC countries.
Huang, W. , & Eling, M.
European Journal of Operational Research, 226 (3), 577–591 .
2013
Keywords:

85. Banks and insurance companies efficiency indicators in the period of financial crisis: The case of the republic of Croatia.
Jur ˇcevi ´c, B. , & Žaja, M. M.
Economic Research-Ekonomska Istraživanja, 26 (1), 203–224 .
2013
Keywords:

84. Analysis of hospital technical efficiency in China: Effect of health insurance reform
Hsin-Hui Hu, Qinghui Qi, Chih-Hai Yang
China Economic Review
2012
Keywords:

83. The efficiency evaluation of property insurance companies based on two-stage correlative DEA models.
Bai-qing, S. , Yi-xing, X. , & Wen-tao, C.
In Proceedings of the 2012 international conference on management science and engineering (ICMSE) (pp. 699-712).
2012
Keywords:

82. Organization and efficiency in the international insurance industry: A cross-frontier analysis.
Biener, C. , & Eling, M.
European Journal of Operational Research, 221 (2), 454–468 .
2012
Keywords:

81. Reinsurance counterparty relationships and firm performance in the US property-liability insurance industry.
Cummins, J. , Feng, Z. , & Weiss, M.
Fullerton: California State University Working Paper .
2012
Keywords:

80. Cost efficiency measures with trapezoidal fuzzy numbers in data envelopment analysis based on ranking functions: Application in insurance organization and hospital.
Ebrahimnejad, A.
International Journal of Fuzzy System Applications, 2 (3), 51–68 .
2012
Keywords:

79. Dupes or incompetents? An examination of management’s impact on firm distress.
Leverty, J. T. , & Grace, M. F.
Journal of Risk and Insurance, 79 (3), 751–783 .
2012
Keywords:

78. An analysis on the efficiency of takaful and insurance companies in Malaysia: A non-parametric approach.
Md Saad, N.
Review of Integrative Business & Economics Research, 1 (1), 33–56 .
2012
Keywords:

77. Efficiencies of two-stage systems with fuzzy data
Chiang Kao, Shiang-Tai Liu
Fuzzy Sets and Systems
2011
Keywords:

76. Market structure, efficiency, and performance in the European property-liability insurance industry.
Berry-Stölzle, T. , Weiss, M. , & Wende, S.
Temple University Working paper.
2011
Keywords:

75. The productivity of european life insurers: Best-practice adoption vs. innovation.
Bertoni, F. , & Croce, A.
The Geneva Papers on Risk and Insurance: Issues and Practice, 36 (2), 165-185.
2011
Keywords:

74. The performance of micro-insurance programs: A data envelopment analysis.
Biener, C. , & Eling, M.
Journal of Risk and Insurance, 78 (1), 83-115.
2011
Keywords:

73. The impact of CEO turnover on property–li- ability insurer performance.
He, E. , Sommer, D. W. , & Xie, X.
Journal of Risk and Insurance, 78 (3), 583–608 .
2011
Keywords:

72. Corporate governance and efficiency: Evidence from US property–liability insurance industry.
Huang, L. , Lai, G. C. , McNamara, M. , & Wang, J.
Journal of Risk and Insurance, 78 (3), 519–550 .
2011
Keywords:

71. Risk-adjusted efficiency of the insurance industry: Evidence from China.
Huang, W. , & Paradi, J. C.
The Service Industries Journal, 31 (11), 1871–1885 .
2011
Keywords:

70. Life insurer efficiency and state regulation: Evidence of optimal firm behavior.
Pottier, S. W.
Journal of Regulatory Economics, 39 (2), 169–193 .
2011
Keywords:

69. Corporate social responsibility in the international insurance industry.
Scholtens, B.
Sustainable Development, 19 (2), 143–156 .
2011
Keywords:

68. Demutualization, control and efficiency in the US life insurance industry.
Xie, X. , Lu, W. , Reising, J. , & Stohs, M. H.
The Geneva Papers on Risk and Insurance: Issues and Practice, 36 (2), 197–225 .
2011
Keywords:

67. Efficiency in the Greek insurance industry.
Barros, C. P. , Nektarios, M. , & Assaf, A.
European Journal of Operational Research, 205 (2), 431-436.
2010
Keywords:

66. Distribution channel strategy and efficiency performance of the life insurance industry in Taiwan.
Chen, M. S. , & Chang, P. L.
Journal of Financial Services Marketing, 15 (1), 62-75.
2010
Keywords:

65. Economies of scope in financial services: A DEA efficiency analysis of the US insurance industry.
Cummins, J. D. , Weiss, M. A. , Xie, X. , & Zi, H.
Journal of Banking & Finance, 34 (7), 1525–1539.
2010
Keywords:

64. Efficiency in the international insurance industry: A cross-country comparison.
Eling, M. , & Luhnen, M.
Journal of Banking & Finance, 34 (7), 1497–1509 .
2010
Keywords:

63. Frontier efficiency methodologies to measure performance in the insurance industry: Overview, systematization, and recent developments.
Eling, M. , & Luhnen, M.
The Geneva Papers on Risk and Insurance: Issues and Practice, 35 (2), 217–265 .
2010
Keywords:

62. The demise of the mutual organizational form: An investigation of the life insurance industry.
Erhemjamts, O. , & Leverty, J. T.
Journal of Money, Credit and Banking, 42 (6), 1011–1036 .
2010
Keywords:

61. The impact of corporate governance on the efficiency performance of the Thai non-life insurance industry.
Hsu, W. , & Petchsakulwong, P.
The Geneva Pa- pers on Risk and Insurance: Issues and Practice, 35 (1), S28–S49 .
2010
Keywords:

60. The cost efficiency of takaful insurance companies.
Kader, H. A. , Adams, M. , & Hardwick, P.
The Geneva Papers on Risk and Insurance: Issues and Practice, 35 (1), 161–181 .
2010
Keywords:

59. The robustness of output measures in property-liability insurance efficiency studies.
Leverty, J. T. , & Grace, M. F.
Journal of Banking & Finance, 34 (7), 1510–1524 .
2010
Keywords:

58. Single market effects on productivity in the German insurance industry
Mahlberg, B. , & Url, T.
Journal of Banking & Finance, 34 (7), 1540–1548 .
2010
Keywords:

57. Comparing single-and multichannel distribution strategies in the German life insurance market: An analysis of cost and profit efficiency
Trigo-Gamarra, L. , & Growitsch, C.
Schmalenbach Business Review, 62 (4), 401–417 .
2010
Keywords:

56. Are publicly held firms less efficient? Evidence from the US proper- ty-liability insurance industry.
Xie, X.
Journal of Banking & Finance, 34 (7), 1549–1563 .
2010
Keywords:

55. An integrated performance evaluation of financial holding companies in Taiwan
Shih-Fang Lo, Wen-Min Lu
European Journal of Operational Research
2009
Keywords:

54. Additive efficiency decomposition in two-stage DEA
Yao Chen, Wade D. Cook, …Joe Zhu
European Journal of Operational Research
2009

53. Efficiency decomposition in network data envelopment analysis: A relational model
Chiang Kao
European Journal of Operational Research
2009

52. Using GRA and DEA to compare efficiency of bancassurance sales with an insurer’s own team.
Chiang-Ku, F. , Shu-Wen, C. , & Cheng-Ru, W.
Journal of Grey System, 21 (4), 395-406.
2009
Keywords:

51. Market values and efficiency in US insurer acquisitions and divestitures.
Cummins, J. D. , & Xie, X.
Managerial Finance, 35 (2), 128–155 .
2009
Keywords:

50. Determinants of efficiency and productivity in German proper- ty-liability insurance: Evidence for 1995–2006.
Luhnen, M.
The Geneva Papers on Risk and Insurance: Issues and Practice, 34 (3), 483–505 .
2009
Keywords:

49. A DEA analysis of risk, cost, and revenues in insurance.
Segovia-Gonzalez, M. , Contreras, I. , & Mar-Molinero, C.
Journal of the Operational Research Society, 60 (11), 1483–1494 .
2009
Keywords:

48. Mergers and acquisitions in the US property-liability insurance industry: Productivity and efficiency effects.
Cummins, J. D. , & Xie, X.
Journal of Banking & Finance, 32 (1), 30–55 .
2008
Keywords:

47. Efficiency decomposition in two-stage data envelopment analysis: An application to non-life insurance companies in Taiwan.
Kao, C. , & Hwang, S.
Euro- pean Journal of Operational Research, 185 (1), 418–429 .
2008
Keywords:

46. The effect of regulation on comparative advantages of different organizational forms: evidence from the German property-liability insurance industry
Wende, S. , Berry-Stölzle, T. R. , & Lai, G. L.
University of Cologne Working Paper .
2008
Keywords:

45. Simultaneous analysis of production and investment performance of Canadian life and health insurance companies using data envelopment analysis
Desheng Wu, Zijiang Yang, …Liang Liang
Computers & Operations Research
2007
Keywords:

44. Ownership and efficiency in the German life insurance market: A DEA bootstrap approach.
Diboky, F. , & Ubl, E.
In Proceedings of the 34th seminar of the European group of risk and insurance economists (EGRIE) .
2007
Keywords:

43. The impact of deregulation on the German and UK life insurance markets: An analysis of efficiency and productivity between 1991–2002 .
Hussels, S. , & Ward, D. R.
Cranfield University Working Paper, SOM Research Paper Series 4/07 .
2007
Keywords:

42. Efficiency and demutualization: Evidence from the US life insurance industry in the 1980s and 1990s.
Jeng, V. , Lai, G. C. , & McNamara, M. J.
Journal of Risk and Insurance, 74 (3), 683–711 .
2007
Keywords:

41. Service innovation efficiency evaluation on non-life insurance industry in Taiwan.
Lin, C. , Yang, H. , & Liou, D.
In Proceedings of the 2007 IEEE inter- national conference on industrial engineering and engineering management (pp. 1955–1959) .
2007
Keywords:

40. On technical efficiency of China’s insurance industry after WTO accession.
Shujie, Y. , Zhongwei, H. , & Genfu, F.
China Economic Review, 18 (1), 66–86 .
2007
Keywords:

39. Deregulation, consolidation, and efficiency: Evidence from the Spanish insurance industry.
Cummins, J. D. , & Rubio-Misas, M.
Journal of Money, Credit, and Banking, 38 (2), 323-355.
2006
Keywords:

38. A two-stage DEA model to evaluate the overall performance of Canadian life and health insurance companies
Zijiang Yang
Mathematical and Computer Modelling
2006
Keywords:

37. Efficiency changes around US life insurer demutualizations.
Erhemjamts, O. , & Leverty, J. T.
working paper .
2006
Keywords:

36. Measuring managerial efficiency in non-life insurance companies: An application of two-stage data envelopment analysis.
Hwang, S. , & Kao, T.-L.
International Journal of Management, 23 (3), 699–720 .
2006
Keywords:

35. Evaluating the efficiency and productivity of insurance companies with a malmquist index: A case study for Portugal.
Barros, C. P. , Barroso, N. , & Borges, M. R.
Geneva Papers on Risk And Insurance: Issues and Practice, 30 (2), 244–267.
2005
Keywords:

34. Evaluating cost efficiency and returns to scale in the Life Insurance Corporation of India using data envelopment analysis
Kaoru Tone, Biresh K. Sahoo
Socio-Economic Planning Sciences
2005
Keywords:

33. Financial intermediary versus production approach to efficiency of marketing distribution systems and organizational structure of insurance companies.
Brockett, P. L. , Cooper, W. W. , Golden, L. L. , Rousseau, J. J. , & Wang,Y.
Journal of Risk and Insurance, 72 (3), 393-412.
2005
Keywords:

32. Ownership structure, agency costs, specialization, and efficiency: Analysis of keiretsu and independent insurers in the Japanese nonlife insurance industry.
Jeng, V. , & Lai, G. C.
Journal of Risk and Insurance, 72 (1), 105–158 .
2005
Keywords:

31. Hospital ownership and operating efficiency: Evidence from Taiwan
Hsihui Chang, Mei-Ai Cheng, Somnath Das
European Journal of Operational Research
2004
Keywords:

30. Health care regulation and the operating efficiency of hospitals: Evidence from Taiwan
Hsihui ChangWen-Jing ChangShu-Hsing Li
Journal of Accounting and Public Policy
2004
Keywords:

29. The effect of organizational structure on efficiency: Evidence from the Spanish insurance industry
J. David Cummins, Maria Rubio-Misas, Hongmin Zi
Journal of Banking & Finance
2004
Keywords:

28. Evaluating solvency versus efficiency performance and different forms of organization and marketing in US property––liability insurance companies
Patrick L Brockett, William W Cooper, …Yuying Wang
European Journal of Operational Research
2004
Keywords:

27. A comparison of HMO efficiencies as a function of provider autonomy.
Brockett, P. L. , Chang, R. E. , Rousseau, J. J. , Semple, J. H. , & Yang, C.
Journal of Risk and Insurance, 71 (1), 1–19 .
2004
Keywords:

26. The effect of organizational struc- ture on efficiency: Evidence from the Spanish insurance industry.
Cummins, J. D. , Rubio-Misas, M. , & Zi, H.
Journal of Banking & Finance, 28 (12), 3113–3150 .
2004
Keywords:

25. Firm performance in the Chinese insurance industry.
Leverty, T., Lin, Y., & Zhou, H.
Wharton Working Paper.
2004
Keywords:

24. How deregulation shapes market structure and industry efficiency: The case of the Italian motor insurance industry.
Turchetti, G. , & Daraio, C.
The Geneva Papers on Risk and Insurance: Issues and Practice, 29 (2), 202–218
2004
Keywords:

23. Corporate governance and cost efficiency in the United Kingdom life insurance industry
Hardwick, P. , Adams, M. B. , & Hong, Z.
Swansea: European Business Management School, University of Wales
2003
Keywords:

22. Effects of the single market on the Austrian insurance industry.
Mahlberg, B. , & Url, T.
Empirical Economics, 28 (4), 813–838 .
2003
Keywords:

21. Optimal capital utilization by financial firms: Evidence from the property-liability insurance industry.
Cummins, J. D. , & Nini, G. P.
Journal of Financial Ser- vices Research, 21 (1-2), 15-53.
2002
Keywords:

20. Size and efficiency in European long-term insurance companies: An international comparison.
Diacon, S. R. , Starkey, K. , & O’Brien, C.
The Geneva Pa- pers on Risk and Insurance: Issues and Practice, 27 (3), 4 4 4–466 .
2002
Keywords:

19. Using DEA and survival analysis for measuring performance of branches in New Zealand’s accident compensation corporation.
Meimand, M. , Cavana, R. , & Laking, R.
Journal of the Operational Research Society, 53 (3), 303–313 .
2002
Keywords:

18. Cost efficiency in Australian general insurers: A non-parametric approach.
Worthington, A. C. , & Hurley, E. V.
The British Accounting Review, 34 (2), 89-108
2002
Keywords:

17. The efficiency of UK general insurance companies
Diacon, S.
Centre for Risk & Insurance Studies. The University of Nottingham CRIS Discussion Paper Series
2001
Keywords:

16. Efficiency and productivity change of non-life insurance companies in japan.
Fukuyama, H. , & Weber, W. L.
Pacific Economic Review, 6 (1), 129–146 .
2001
Keywords:

15. Non-parametric pro- duction frontier approach to the study of efficiency of non-life insurance com- panies in Greece.
Noulas, A. G. , Lazaridis, J. , Hatzigayios, T. , & Lyroudi, K.
Journal of Financial Management & Analysis, 14 (1), 19 .
2001
Keywords:

14. Analyzing firm performance in the insurance industry using frontier efficiency and productivity methods. In G. Dionne (Ed.).
Cummins, J. , & Weiss, M.
Handbook of insurance : 22. Dordrecht: Springer Huebner International Series on Risk, Insurance, And Economic Security .
2000
Keywords:

13. The effect of liberalization and deregulation on life insurer efficiency
Boonyasai, T. , Grace, M. F. , & Skipper, H. D., Jr
Atlanta, GA: Center for Risk Management and Insurance Research, Georgia State University Working Paper 02-2 .
1999
Keywords:

12. Efficiency and competitiveness in the US life insurance industry: Corporate, product, and distribution strategies.
Carr, R. M. , Cummins, J. D. , & Regan, L.
Changes in the life insurance industry: Efficiency, technology and risk management (pp. 117–157). Springer.
1999
Keywords:

11. Efficiency in the US life insurance industry: Are insurers minimizing costs and maximizing revenues?
Verlag . Cummins, J. D.
Changes in the life insurance industry: Efficiency, technology and risk management (pp. 75–115). Springer .
1999
Keywords:

10. Consolidation and efficiency in the US life insurance industry.
Cummins, J. D. , Tennyson, S. , & Weiss, M. A.
Journal of Banking & Finance, 23 (2), 325–357.
1999
Keywords:

9. Life insurance mergers and acquisitions.
Cummins, J. D. , Tennyson, S. , & Weiss, M. A.
Changes in the life insurance industry: Efficiency, technology and risk management (pp. 159–185). Springer.
1999
Keywords:

8. Organizational form and efficiency: The coexistence of stock and mutual property-liability insurers.
Cummins, J. D. , Weiss, M. A. , & Zi, H.
Management Science, 45 (9), 1254-1269.
1999
Keywords:

7. Regulation and efficiency in European insurance markets.
Rees, R. , & Kessner, E.
Economic Policy, 14 (29), 364–397 .
1999
Keywords:

6. DEA evaluations of the efficiency of organizational forms and distribution systems in the US property and liability insurance industry.
Brockett, P. L. , Cooper, W. W. , Golden, L. L. , Rousseau, J. J. , & Wang, Y.
International Journal of Systems Science, 29 (11), 1235-1247.
1998
Keywords:

5. Determinants of Hospital Efficiency: the Case of Central Government-owned Hospitals in Taiwan
Hsi-hui Chang
Omega
1998
Keywords:

4. Data transformations in DEA cone ratio envelopment approaches for monitoring bank performances
P. L. Brockett, A. Charnes, …D. B. Sun
European Journal of Operational Research
1997
Keywords:

3. Efficiency and productivity of the insurance indus- try in the OECD countries.
Donni, O. , & Fecher, F.
The Geneva Papers on Risk and Insurance: Issues and Practice, 22 (4), 523–535 .
1997
Keywords:

2. Investigating productive efficiency and productivity changes of Japanese life insurance companies.
Fukuyama, H.
Pacific-Basin Finance Journal, 5 (4), 481–509 .
1997
Keywords:

1. Productive performance of the French insurance industry.
Fecher, F. , Kessler, D. , Perelman, S. , & Pestieau, P.
Journal of Productivity Analysis, 4 (1-2), 77–93 .
1993
Keywords: