Comparing Single- and Multichannel Distribution Strategies in the German Life Insurance Market: An Analysis of Cost and Profit Efficiency
AbstractTo explain the success of different distribution strategies in the life insurance industry, we analyze the performance of single- and multichannel distribution firms in the German life insurance industry. We estimate cost and profit efficiency for three groups of life insurers: multichannel insurers, direct insurers, and independent agent insurers. We use nonparametric Data Envelopment Analysis to calculate efficiencies for German life insurers for the years 1997-2005. We identify the absence of performance advantages of specialized insurers as the most important reason for the coexistence of different distribution systems.
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Bibliographic InfoArticle provided by LMU Munich School of Management in its journal Schmalenbach Business Review.
Volume (Year): 62 (2010)
Issue (Month): 4 (October)
DEA; Distribution Systems; Efficiency Analysis; Insurance Markets;
Find related papers by JEL classification:
- G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
- L15 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Information and Product Quality
- L22 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Organization and Market Structure
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