We introduce an ordinal model of efficiency measurement. Our primitive is a notion of e ciency that is comparative, but … not cardinal or absolute. In this framework, we postulate axioms that we believe an ordinal efficiency measure should … satisfy. Primary among these are choice consistency and planning consistency, which guide the measurement of efficiency in a …

This paper evaluates the efficiency of the twenty-one largest Syndicates of Lloyd's of London. Members of Lloyd's of … 2004 and 2011. Data Envelopment Analysis (DEA) and Stochastic Frontier Analysis (SFA) are used to estimate the efficiency …, that the average annual efficiency estimates for all Syndicates are plausible and they follow three-year cycles. Secondly …

The paper examines efficiency, productivity and scale economies in the U.S. property-liability insurance industry …. Productivity change is analyzed using Malmquist indices, and efficiency is estimated using data envelopment analysis (DEA). The … significant gains in total factor productivity, and there is an upward trend in scale and allocative efficiency. More diversified …

test how risk management and financial intermediation activities create value for insurers by enhancing economic efficiency …. Insurer cost efficiency is measured relative to an econometric cost frontier. Since the prices of risk management and … cost efficiency. The econometric results show that both activities significantly increase the efficiency of the property …

analyzing the impact of insurers' scale of operations and group affiliation status on benefits, costs, and efficiency from the … regarding the assessment of what constitutes efficiency with respect to scale of operations and group affiliation status … some guidelines regarding the appropriate scale of operations for the scale efficiency, and informs discussion of mergers …

The purpose of this study is to measure technical efficiency and economies of scale and scope in the German insurance … efficiency frontier has been constructed which is used as a yardstick of productive efficiency. The sources of data are the …

The purpose of this study is to measure changes in efficiency and productivity over time in the German insurance … Data Envelopment Analysis an efficiency frontier has been constructed which is used as a yardstick of productive efficiency …. The efficiency and productivity change is measured by the Malmquist Productivity Index. As a result, the productivity has …

The objective of this paper is to discuss the use of modern frontier efficiency analysis to analyze firm performance in … research to incorporate the frontier efficiency approach. The chapter also serves as a guide for those who are already … conducting frontier efficiency analysis but are seeking guidance in using the methodology or defining inputs and outputs. We …

A numbers of studies focusing on the determinant of the insurance market efficiency haveincreased in the last decade …. In fact, many factors, like the CEO's power, can influence the efficiency in the insurance firm. The purpose of this … research is to analyze the relationship between efficiency, measured by the cost function using the stochastic frontier …

This paper contributes to the existing literature by examining the efficiency and competitiveness of the Takaful … insurance. We employ the Data Envelopment Analysis (DEA) to compute the efficiency of Takaful operators, while Panzar-Rosse (P … to estimating provisions for outstanding claims, as this factor is negatively influencing the efficiency of Takaful …