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Quality of After-Sales Services in a Competitive Insurance Sector†

Author

Listed:
  • Alessandro Fedele

    (School of Economics and Management, Free University of Bolzano/Bozen, Bolzano, Italy.)

  • Piero Tedeschi

    (Department of Economics and Finance, Università Cattolica del Sacro Cuore, Milan, Italy.)

Abstract

This paper tackles the issue of unverifiable quality of after-sales insurance services, such as a prompt reimbursement of damages. A dynamic model is introduced in order to allow reputation to emerge as a means of disciplining insurance firms to deliver high quality. The equilibrium of a repeated Bertrand game among the insurers is analysed and conditions are derived under which more concentration in the insurance industry can lead to greater equilibrium consumer welfare.

Suggested Citation

  • Alessandro Fedele & Piero Tedeschi, 2015. "Quality of After-Sales Services in a Competitive Insurance Sector†," The Geneva Risk and Insurance Review, Palgrave Macmillan;International Association for the Study of Insurance Economics (The Geneva Association), vol. 40(1), pages 65-88, March.
    • Handle: RePEc:pal:genrir:v:40:y:2015:i:1:p:65-88
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