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Productivity Changes Of Insurers: Metafrontier Malmquist Productivity Index And A Bootstrapping Approach

Author

Listed:
  • QIAN LONG KWEH

    (Faculty of Management, Canadian University Dubai, P.O. Box 117781, 1st Interchange, Sheikh Zayed Road, Dubai, UAE)

  • KEVIN DOWNING

    (Institutional Research Office, City University of Hong Kong, 83 Tat Chee Ave, Kowloon Tong, Hong Kong)

  • WEN-MIN LU

    (Department of International Business Administration, Chinese Culture University, No. 55, Hwa-Kang Road, Shilin District, Taipei 11114, Taiwan)

  • IRENE WEI KIONG TING

    (Faculty of Industrial Management, Universiti Malaysia Pahang, 26300 Gambang, Pahang, Malaysia)

Abstract

Insurance penetration rate in Malaysia is low at only between 40% and 50%. Following the government’s policy goal of increasing the rate, this study examined metafrontier Malmquist productivity index (MMPI) and drivers of the MMPI among Malaysian insurers. Over the 2009–2017 period, general insurers and life insurers were technology leaders. General insurers had progressive productivity (MMPI) on average, whereas the MMPI values of the life and general insurers and life insurers were in deterioration. Overall, long-term strategic planning and capital investment alongside government’s liberalization to increase competition in the industry are thus necessary.

Suggested Citation

  • Qian Long Kweh & Kevin Downing & Wen-Min Lu & Irene Wei Kiong Ting, 2024. "Productivity Changes Of Insurers: Metafrontier Malmquist Productivity Index And A Bootstrapping Approach," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 69(07), pages 2259-2280, December.
    • Handle: RePEc:wsi:serxxx:v:69:y:2024:i:07:n:s0217590820500344
    DOI: 10.1142/S0217590820500344
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    Keywords

    Productivity change; data envelopment analysis; Malmquist productivity index; metafrontier; insurance companies;
    All these keywords.

    JEL classification:

    • L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies

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