Life insurance company efficiency: best method and proxies

Wise, William

doi:10.21511/ins.09(1).2018.02

Cited by 5 publications

(5 citation statements)

References 47 publications

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“…The distribution of insurance products varies across the EU. Many particularities within the insurance industry in the EU have been identified, such as product features, price sensitivity, premium cycles and the role of intermediaries (Danise, 2021;Dominique-Ferreira, 2017Dominique-Ferreira et al, 2021;Ren et al, 2021). Brophy (2012Brophy ( , 2017 2020).…”

Section: Methods Samplementioning

confidence: 99%

“…Supply chain management SCM, evolved in the 1980s and 1990s, has been defined as the integration of business processes from end-user through to the original suppliers that supply products, services and information that add value for customers (Cooper et al, 1997;Cooper and Ellram, 1993;Danise, 2021). A supply chain (SC) involves several companies, both upstream (supply) and downstream (distribution/placement), and the final consumer (Chen and Lai, 2010;Mentzer et al, 2001;Towers and Burnes, 2008).…”

Section: Service Qualitymentioning

confidence: 99%

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Supply chain management in the insurance industry – symmetrical and asymmetrical analysis

Prentice

Wang

2023

JBIM

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Purpose In view of the complexity of supply chain management (SCM) in the insurance industry, to the best of the authors’ knowledge, this paper was the first to use symmetrical and asymmetrical methos to examine how the insurer’s service quality and SCM can be configurated to explain the relationships between the insurance companies and brokers as the intermediaries. This study positions insurance brokers as the insurance companies’ customers and supply chain partners, aims to examine the relationships between service quality, SCM and relationship quality. Design/methodology/approach This paper undertook two studies and used two methods to examine how the insurer’s service quality and SCM can be configurated to explain the relationships between the insurance companies and brokers as the intermediaries. Both symmetrical and asymmetrical analyses were performed including regression and fuzzy-set qualitative comparative analysis (fsQCA). Findings The results from symmetrical analyses and fsQCA from two countries show substantial differences in how service quality and SCM affect relationship quality. In particular, fsQCA show that all service quality dimensions are important antecedent conditions of relationship quality for Portuguese brokers. Interestingly for Irish brokers, the combination of assurance, responsiveness and the insurer’ empathy conjunctively accounted for their satisfaction, whereas none of these quality factors are related to their commitment and trust. All SCM factors are important to explain the brokers’ relationship quality with their chosen insurers for both countries. Research limitations/implications This study contributes to three areas of research: service quality, SCM and relationship marketing. Firstly, this study used an asymmetrical approach to providing insights into the effect of service quality dimensions by showcasing how these dimensions were configurated to explain the outcome of interest, rather than examining their symmetrical path coefficients. Secondly, this study identified the key factors of SCM in the insurance industry and how these factors can be configurated through Boolean algebra to explain relationship quality between supply chain partners. Finally, this study has implications for relationship marketing research. Practical implications As the study was conducted with the insurance brokers in Portugal and Ireland, the findings have implications for the insurance companies for the two countries. As different service quality factors and SCM exert different effects on relationship quality, the insurance companies should look into these factors to modify their current practice to improve relationship quality with their brokers. Originality/value Theoretically, to the best of the authors’ knowledge, this is the first study to approach from intermediaries to address effectiveness of SCM. Methodologically, to the best of the authors’ knowledge, this is the first study to use fsQCA – a case-based approach to understand SCM and relationship quality between stakeholders.

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Section: Methods Samplementioning

confidence: 99%

Section: Service Qualitymentioning

confidence: 99%

Supply chain management in the insurance industry – symmetrical and asymmetrical analysis

Prentice

Wang

2023

JBIM

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“…Supply chain management Supply Chain Management (SCM) has transcended its logistical roots to become a critical discipline across modern businesses (La Londe and Masters, 1994). This evolution emphasizes integrated management of all value chain stages, from raw materials to customer satisfaction (Danise, 2021). Marketing, in particular, requires seamless collaboration across departments for successful outcomes (Fernando and Wulansari, 2020, b;Liu et al, 2020a, b).…”

Section: Literature Reviewmentioning

confidence: 99%

A comparative analysis of supply chain management between Portugal and Ireland

Dominique-Ferreira,

Brophy,

Prentice

2024

EJMBE

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PurposeThis study investigates how insurance intermediaries in Portugal and Ireland evaluate supply chain management (SCM) practices within the insurance industry, specifically focusing on potential regional variations in their assessments.Design/methodology/approachA comparative research design was employed, collecting data through surveys administered to insurance brokers in Portugal and Ireland. These countries were chosen due to their well-developed intermediary-based insurance markets.FindingsThe results show that some dimensions of supply chain management are significantly different between Portugal and Ireland. Nevertheless, the insurance brokers from the two countries also share similar views on key aspects of supply chain management.Practical implicationsThis study offers valuable insights for insurance industry management, particularly regarding the dynamics of the insurer-intermediary relationship and the importance of catering to intermediary needs. The findings also highlight potential areas for European Union policy consideration, such as addressing potential asymmetries within the insurance sector across member states.Social implicationsImproved relationships and collaboration within the insurance supply chain can lead to enhanced access to insurance products and more tailored services for consumers.Originality/valueThis research addresses two key gaps in the literature. Firstly, it examines the insurer-intermediary relationship from the intermediary perspective, a viewpoint often neglected in prior research. Secondly, the study investigates and confirms the existence of regional variations in insurance SCM practices across two European countries.

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“…Lebedynska and Remnova (2011, p. 95) highlight currency exchange rate instability, negative inflation expectations of the population, distrust in the society of financial institution activity. Wise (2018) concludes that such lack of confidence in the insurance industry potentially results in a reduction of insurance protection for business and the overall public. Ukrainian unemployment insurance system especially obviously exposes the lack of confidence in the insurance industry.…”

Section: Literature Reviewmentioning

confidence: 99%

Stimulating and limiting factors for the growth of investment potential of Ukrainian insurance companies

Cherkasova

Kalaitan

Rushchyshyn

et al. 2020

Investment Management and Financial Innovations

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The fact that the accumulated investment potential (IP) of insurance companies (IC) does not have a significant impact on the processes of economic growth in Ukrainian practice actualizes the task of researching the practice of investing in the activities of domestic insurers. The purpose of the study is to find out, classify and highlight the main factors that influence the formation of the Ukrainian IC’ IP and give recommendations for overcoming a number of related difficulties. According to the results of investigation of the Ukrainian insurance industry development trends in 2011–2018, it was concluded that rates of their IP accumulation are insufficient. There is a decrease in the aggregate value of insurers’ investment assets and a reduction in the composition of investment attractive financial instruments. Low efficiency and simplification of investment strategies of IC are noted. The factors that exert a stimulating and inhibitory influence on the investment processes in the Ukrainian insurance market were identified. Ways and tools were proposed to strengthen the effect of incentive factors and eliminate or minimize the effect of the considered restrictive factors that can be used in the practice of state regulation of the insurance industry of the country. Considering the examined factors should allow the state regulators making more effective decisions to improve the investment activity of insurers and enhance its importance in the development of the national economy.

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Life insurance company efficiency: best method and proxies

Cited by 5 publications

References 47 publications

Supply chain management in the insurance industry – symmetrical and asymmetrical analysis

Supply chain management in the insurance industry – symmetrical and asymmetrical analysis

A comparative analysis of supply chain management between Portugal and Ireland

Stimulating and limiting factors for the growth of investment potential of Ukrainian insurance companies

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