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Does efficiency promote competitiveness of the insurance industry?
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| Veröffentlicht in: | Journal of business economics and management 19(2018), 4, Seite 566-591 |
|---|---|
| Personen und Körperschaften: | , , , |
| Titel: | Does efficiency promote competitiveness of the insurance industry?/ Hui Shan Lee, Fan Fah Cheng, Annuar Md Nassir, Nazrul Hisyam Ab Razak |
| Format: | E-Book-Kapitel |
| Sprache: | Englisch |
| veröffentlicht: |
2018
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| Gesamtaufnahme: |
: Journal of business economics and management, 19(2018), 4, Seite 566-591
, volume:19 |
| Schlagwörter: | |
| Quelle: | Verbunddaten SWB Lizenzfreie Online-Ressourcen |
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| contents | This paper contributes to the existing literature by examining the efficiency and competitiveness of the Takaful insurance. We employ the Data Envelopment Analysis (DEA) to compute the efficiency of Takaful operators, while Panzar-Rosse (P-R) H-statistic method is used to evaluate the degree of competition. The findings indicate that the inefficiency in Takaful's operations is affected by the scale of operations but not by inefficiency in managerial practice. Actuaries need to pay attention to estimating provisions for outstanding claims, as this factor is negatively influencing the efficiency of Takaful insurance. Additionally, the managers are cautioned not to overspend on commissions paid to the agents because this will reduce the profit of the Takaful operators. The findings to a very large extent indicate that improvement in efficiency will increase the entry of a more viable competitor to participate in the Takaful industry. The regulators need to implement prudent monitoring of the operations of Takaful insurers because improvements in efficiency will make Takaful operators more competitive. The implications further shed light on the motivation for insurance firms to improve efficiency that enable them to charge lower price to enhance competition which may benefit both the firms and customers. |
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| spelling | Hui Shan Lee VerfasserIn (DE-588)1206692324 (DE-627)169295444X aut, Does efficiency promote competitiveness of the insurance industry? Hui Shan Lee, Fan Fah Cheng, Annuar Md Nassir, Nazrul Hisyam Ab Razak, 2018, Text txt rdacontent, Computermedien c rdamedia, Online-Ressource cr rdacarrier, DE-206 Open Access Controlled Vocabulary for Access Rights http://purl.org/coar/access_right/c_abf2, This paper contributes to the existing literature by examining the efficiency and competitiveness of the Takaful insurance. We employ the Data Envelopment Analysis (DEA) to compute the efficiency of Takaful operators, while Panzar-Rosse (P-R) H-statistic method is used to evaluate the degree of competition. The findings indicate that the inefficiency in Takaful's operations is affected by the scale of operations but not by inefficiency in managerial practice. Actuaries need to pay attention to estimating provisions for outstanding claims, as this factor is negatively influencing the efficiency of Takaful insurance. Additionally, the managers are cautioned not to overspend on commissions paid to the agents because this will reduce the profit of the Takaful operators. The findings to a very large extent indicate that improvement in efficiency will increase the entry of a more viable competitor to participate in the Takaful industry. The regulators need to implement prudent monitoring of the operations of Takaful insurers because improvements in efficiency will make Takaful operators more competitive. The implications further shed light on the motivation for insurance firms to improve efficiency that enable them to charge lower price to enhance competition which may benefit both the firms and customers., DE-206 Namensnennung 4.0 International CC BY 4.0 cc https://creativecommons.org/licenses/by/4.0/, Aufsatz in Zeitschrift DE-206, Cheng, Fan Fah VerfasserIn (DE-588)1016884664 (DE-627)671642448 (DE-576)352789182 aut, Annuar Md. Nassir VerfasserIn (DE-588)171313151 (DE-627)061501301 (DE-576)132116243 aut, Nazrul Hisyam Ab Razak VerfasserIn (DE-588)1124163638 (DE-627)877856141 (DE-576)482333170 aut, Enthalten in Journal of business economics and management Vilnius : VTGU Publ. House "Technika", 2003 19(2018), 4, Seite 566-591 Online-Ressource (DE-627)55226010X (DE-600)2400520-4 (DE-576)27798033X 2029-4433 nnns, volume:19 year:2018 number:4 pages:566-591, https://journals.vgtu.lt/index.php/JBEM/article/view/5547/4822 Verlag kostenfrei, https://doi.org/10.3846/jbem.2018.5547 Resolving-System kostenfrei, https://doi.org/10.3846/jbem.2018.5547 LFER, https://journals.vgtu.lt/index.php/JBEM/article/view/5547/4822 LFER, LFER 2020-04-07T00:00:00Z |
| spellingShingle | Hui Shan Lee, Cheng, Fan Fah, Annuar Md. Nassir, Nazrul Hisyam Ab Razak, Does efficiency promote competitiveness of the insurance industry?, This paper contributes to the existing literature by examining the efficiency and competitiveness of the Takaful insurance. We employ the Data Envelopment Analysis (DEA) to compute the efficiency of Takaful operators, while Panzar-Rosse (P-R) H-statistic method is used to evaluate the degree of competition. The findings indicate that the inefficiency in Takaful's operations is affected by the scale of operations but not by inefficiency in managerial practice. Actuaries need to pay attention to estimating provisions for outstanding claims, as this factor is negatively influencing the efficiency of Takaful insurance. Additionally, the managers are cautioned not to overspend on commissions paid to the agents because this will reduce the profit of the Takaful operators. The findings to a very large extent indicate that improvement in efficiency will increase the entry of a more viable competitor to participate in the Takaful industry. The regulators need to implement prudent monitoring of the operations of Takaful insurers because improvements in efficiency will make Takaful operators more competitive. The implications further shed light on the motivation for insurance firms to improve efficiency that enable them to charge lower price to enhance competition which may benefit both the firms and customers., Aufsatz in Zeitschrift |
| title | Does efficiency promote competitiveness of the insurance industry? |
| title_auth | Does efficiency promote competitiveness of the insurance industry? |
| title_full | Does efficiency promote competitiveness of the insurance industry? Hui Shan Lee, Fan Fah Cheng, Annuar Md Nassir, Nazrul Hisyam Ab Razak |
| title_fullStr | Does efficiency promote competitiveness of the insurance industry? Hui Shan Lee, Fan Fah Cheng, Annuar Md Nassir, Nazrul Hisyam Ab Razak |
| title_full_unstemmed | Does efficiency promote competitiveness of the insurance industry? Hui Shan Lee, Fan Fah Cheng, Annuar Md Nassir, Nazrul Hisyam Ab Razak |
| title_in_hierarchy | Does efficiency promote competitiveness of the insurance industry? / Hui Shan Lee, Fan Fah Cheng, Annuar Md Nassir, Nazrul Hisyam Ab Razak, |
| title_short | Does efficiency promote competitiveness of the insurance industry? |
| title_sort | does efficiency promote competitiveness of the insurance industry |
| topic | Aufsatz in Zeitschrift |
| topic_facet | Aufsatz in Zeitschrift |
| url | https://journals.vgtu.lt/index.php/JBEM/article/view/5547/4822, https://doi.org/10.3846/jbem.2018.5547 |