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A Two-Stage DEA to Analyze the Effect of Entrance Deregulation on Iranian Insurers: A Robust Approach

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  • Seyed Gholamreza Jalali Naini
  • Hamid Reza Nouralizadeh

Abstract

We use two-stage data envelopment analysis (DEA) model to analyze the effects of entrance deregulation on the efficiency in the Iranian insurance market. In the first stage, we propose a robust optimization approach in order to overcome the sensitivity of DEA results to any uncertainty in the output parameters. Hence, the efficiency of each ongoing insurer is estimated using our proposed robust DEA model. The insurers are then ranked based on their relative efficiency scores for an eight-year period from 2003 to 2010. In the second stage, a comprehensive statistical analysis using generalized estimating equations (GEE) is conducted to analyze some other factors which could possibly affect the efficiency scores. The first results from DEA model indicate a decline in efficiency over the entrance deregulation period while further statistical analysis confirms that the solvency ignorance which is a widespread paradigm among state owned companies is one of the main drivers of efficiency in the Iranian insurance market.

Suggested Citation

  • Seyed Gholamreza Jalali Naini & Hamid Reza Nouralizadeh, 2012. "A Two-Stage DEA to Analyze the Effect of Entrance Deregulation on Iranian Insurers: A Robust Approach," Mathematical Problems in Engineering, Hindawi, vol. 2012, pages 1-24, August.
    • Handle: RePEc:hin:jnlmpe:423524
    DOI: 10.1155/2012/423524
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    Cited by:

    1. Reza Sanei & Farhad Hosseinzadeh lotfi & Mohammad Fallah & Farzad Movahedi Sobhani, 2022. "An Estimation of an Acceptable Efficiency Frontier Having an Optimum Resource Management Approach, with a Combination of the DEA-ANN-GA Technique (A Case Study of Branches of an Insurance Company)," Mathematics, MDPI, vol. 10(23), pages 1-21, November.
    2. Pejman Peykani & Jafar Gheidar-Kheljani & Reza Farzipoor Saen & Emran Mohammadi, 2022. "Generalized robust window data envelopment analysis approach for dynamic performance measurement under uncertain panel data," Operational Research, Springer, vol. 22(5), pages 5529-5567, November.

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