Frontier Efficiency Methodologies to Measure Performance in the Insurance Industry : Overview, Systematization, and Recent Developments
Journal
Geneva Papers on Risk and Insurance: Issues and Practice
ISSN
1018-5895
Type
journal article
Date Issued
2010-04
Author(s)
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.
Language
English
HSG Classification
contribution to scientific community
Refereed
Yes
Publisher
Palgrave Macmillan
Publisher place
Basingstoke
Volume
35
Number
2
Start page
217
End page
265
Pages
49
Subject(s)
Division(s)
Eprints ID
238384
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Name
Frontier Efficiency Methodologies to Measure Performance in the Insurance Industry Overview, Systematization, and Recent Developments.pdf
Size
304.42 KB
Format
Adobe PDF
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