This article argues that different insurance marketing organizations arise as a means to minimize the costs of correctly matching policyholder risks with insurance coverage. When policymakers are easily sorted without sales agent participation in screening, exclusive dealing will be the...

This paper examines the relationship between mergers and acquisitions, efficiency, and scale economies in the U.S. life insurance industry. We estimate cost and revenue efficiency over the period 1988-1995 using data envelopment analysis (DEA). The Malmquist methodology is used to measure...

The choice of insurance distribution system is examined from a transaction cost analysis perspective. Under independent agency, the agent's ownership of the customer list gives that agent incentives to perform some activities that would be more costly under a more vertically-integrated system....

Tobit regression is used to analyze market shares for a cross section of 273 insurers operating in 1990. Lines of business analyzed include personal auto liability and physical damage insurance, homeowners’ multiperil, commercial general liability, workers compensation, and commercial...