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El papel de las agencias de seguros en la competencia entre compañías aseguradoras

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  • Medrano, Leonardo

Abstract

This paper studies the effects on insurance premiums and consumer welfare when commissions to insurance agencies exist and are used strategically to sell insurance policies. The opportunistic behavior of agency insurers that sell the policy paying the highest commission is considered. Different market structures are considered, namely: a duopoly of insurers that compete in commissions (insurer competition), collusion among insurers with agency insurers remaining independent (horizontal collusion or insurer monopoly) and collusion between insurers and agency insurers (vertical integration or exclusive agents). We find that insurer competition and vertical integration trigger higher premiums than horizontal collusion with independent agencies. Furthermore, we argue that the optimal commission from the consumer viewpoint may be greater than the commission offered under any of the above three market structures.// Este artículo estudia el mercado de seguros cuando las compañías aseguradoras (aseguradoras) venden sus pólizas por medio de agencias de seguros (agencias o agentes). Analiza los efectos de las comisiones por ventas pagadas a las agencias en las primas de seguros y en el bienestar del consumidor. Se considera el comportamiento oportunista de las agencias al vender las pólizas emitidas por la aseguradora que le ofrece la comisión mas alta. Se consideran también diferentes estructuras de mercado: un duopolio de aseguradoras que compiten en comisiones (competencia entre aseguradoras), la colusión entre aseguradoras con las agencias manteniendose independientes (colusión horizontal o monopolio de aseguradoras) y la colusión entre aseguradoras y agencias (integración vertical o agentes exclusivos). Mostramos que la competencia entre aseguradoras y la integración vertical generan primas más altas que la colusión horizontal. Además, mostramos que la comisión óptima desde del punto de vista del consumidor pueda ser mayor que la comisión generada por cualquiera de las tres estructuras de mercado antes señaladas.

Suggested Citation

  • Medrano, Leonardo, 2008. "El papel de las agencias de seguros en la competencia entre compañías aseguradoras," El Trimestre Económico, Fondo de Cultura Económica, vol. 0(298), pages 301-316, abril-jun.
  • Handle: RePEc:elt:journl:v:75:y:2008:i:298:p:301-316
    DOI: http://dx.doi.org/10.20430/ete.v75i298.403
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    File URL: http://www.eltrimestreeconomico.com.mx/index.php/te/article/view/403/448
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    More about this item

    Keywords

    prima de seguros; comisiones sobre seguros; competencia; colusión;

    JEL classification:

    • D0 - Microeconomics - - General
    • D4 - Microeconomics - - Market Structure, Pricing, and Design
    • D8 - Microeconomics - - Information, Knowledge, and Uncertainty

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