Application of robust efficiency evaluation method on the Czech life and non-life insurance markets
| Authors | |
|---|---|
| Year of publication | 2021 |
| Type | Article in Proceedings |
| Conference | Proceedings of the 39th International Conference on Mathematical Methods in Economics |
| MU Faculty or unit | |
| Citation | |
| web | https://mme2021.v2.czu.cz/en/r-16791-news-mme-2021/proceedings-of-the-39-th-international-conference-on-mme-202.html |
| Keywords | efficiency; life insurance; non-life insurance; robust DEA |
| Description | The paper presents the analysis of more than fourty insurance companies operating in the Czech Republic in the period 2004–2018. The performance of the companies is evaluated by an universal robust Data Envelopment Analysis. The specification of the model applied in our study includes six variables as the inputs for the analysis: the number of employees and intermediaries, operating costs for the life and non-life segment, equity and total liabilities. As outputs, we use three variables: the financial placement and earned premiums for life and non-life insurance. We compare the efficiency of the companies operating in the individual insurance markets using nonparametric statistical tests. We also try to monitor the dynamics of the performance of individual companies. |