| Summary: | 碩士 === 中原大學 === 企業管理研究所 === 93 === Abstract
This study attempts to explore the changes in the operating performance of domestic life-insurance companies before and after the establishment of financial holding company since 2000. Operational efficiency are also examined between financial holding company and non-financial holding company on both the input items and output terms. The input items are (1)the number of office staff; (2)the compensation and allowances to insurance agents; (3)the operational expenses and (4) business & administrative expenses. The output terms are (1)the first year income of individual life’s insurance premium; (2)the renewal of individual life’s insurance premiums ;(3)other incomer of premiums and (4) investment amount. Using CCR and BCC models of Data-Envelopment Analysis(DEA), this work calculates the operational efficiency, the straight technical efficiency, and the scale efficiency of the life insurance companies. Then this investigation analyzes the change of productivities of two kinds of life insurance companied by using Malmquist Productivity Index. The empirical result are summarized as follows:
1. The cross-section analysis:
The relative efficiency of life insurance companies under financial holding companies is more steady than that under non-financial holding companies. This work finds that when the market is booming, the independent insurance companies (i.e. non-financial holding companies) should expand its business to include banking, insurance agents and insurance brokers. Moreover, the independent companies should merge with the companies which having banking or security businesses.
2. The vertical- section analysis (Malmquist Productivity Index Analysis ):
The life insurance companies under financial holding companies grew rapidly in all
variables after the establishment of financial holding company. Most of the independent life insurance companies have experienced negative growth after the establishment of financial holding company, even they did their best to expand their business variety and sales channels. Due to the improvement on the funding use policy by government, the investment revenue of the life insurance companies increases year by year. This study suggests that the insurance companies should continuously improve their management ability, the government should constantly provide appropriate supervision in order to improve the competition ability of all life insurance companies.
Key word: Data-Envelopment Analysis , Malmquist Productivity Index , Life Insurance Company
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