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Modelling the independent insurance agent's product evaluation strategy: An application of conjoint analysis

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  • Nathan D. Kling
  • Lorne Browne
  • Earl J. Robinson

Abstract

A major property‐casualty insurance company had streamlined underwriting procedures and hoped to design a new commercial insurance package which would appeal to its independent agents. They hoped to do this by improving service times, premium and/or commission, but making these improvements would require the agents to fill out a new underwriting form. The research used conjoint analysis to determine for management the optimum levels of each of the factors to be employed in the new programme and the possible negative impact of the new underwriting form. Also discussed are issues relating to the use of conjoint analysis; in particular, the handling of large factorial designs and the aggregation of individual results.

Suggested Citation

  • Nathan D. Kling & Lorne Browne & Earl J. Robinson, 1985. "Modelling the independent insurance agent's product evaluation strategy: An application of conjoint analysis," Applied Stochastic Models and Data Analysis, John Wiley & Sons, vol. 1(2), pages 79-91.
    • Handle: RePEc:wly:apsmda:v:1:y:1985:i:2:p:79-91
    DOI: 10.1002/asm.3150010202
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