Productivity Management Studies

Explaining a model for evaluating the performance of insurance companies using the data envelopment analysis model

Document Type : Original Article

Author

P.h D in Industrial Management, Faculty of management and economics, university of Guilan, Rasht, Iran.

Abstract

Insurance companies, like any other company, must have a strong and successful performance in order to achieve their predetermined goals and missions. In this regard, it is effective to know how successful their organization has been in achieving these goals. In Iran, the growth and development of companies operating in the financial sector has always faced challenges, since one of the most important economic sectors of any country is its financial sector, in this research, first, based on the data Based on the data obtained from the Central Insurance Statistics, insurance companies were prioritized and then the challenges faced by these companies were identified using the content analysis method. We believe that part of these challenges is caused by the traditional view of the currents of this field from the consumers, which needs to modify the way of looking at the audience. The identified challenges were placed in five dimensions of uncertainty in the environment, structural, strategic, internal/external, systemic barriers. 

Keywords

Main Subjects

Banker, R. D., Thrall, R. M. (1992). Estimation of returns to scale using data envelopment analysis. European Journal of Operational Research, 62(1), 74–84. https://doi.org/https://doi.org/10.1016/0377-2217(92)90178-C.
Delafroz, B. (2006). Measuring and evaluating the technical efficiency of selected insurance companies, master's thesis, Allameh Tabatabai University. [persian].
Çekrezi, A., & Xhuvani, A. (2015). DETERMINANTS OF FINANCIAL PERFORMANCE OF THE INSURANCE COMPANIES: A CASE OF ALBANIA. https://api.semanticscholar.org/CorpusID:55606844.
Eslami, R., Bordbari, M. (2022). The Systematic Analysis of Public Policy Cycle in the Insurance Industry of Iran. Quarterly journal of the macro and strategic policies, 1, 216–224.https://doi.org/10.30507/jmsp.2021.301140.2301. [persian].
Fallah, M. (2006). Evaluation of branches of insurance companies with data coverage analysis method, news of the insurance world,115. [Persian].
Farrell, M. J. (1957). The Measurement of Productive Efficiency. Journal of the Royal Statistical Society. Series A (General), 120(3), 253–290. https://doi.org/10.2307/2343100. [persian].
Gholipour, R., Hasangholipour, T., hemmati, A & Gholipour, R. (2012). Developing a Model for Effective Advertising Policymaking in Iran Insurance Industry (Based on Cognitive Map). Journal of Business management, 4, 121-136.  https://doi.org/10.22059/jibm.2012.28571. [persian].
Hassanzadeh, H & Zare, M. (2008). Explanation of performance evaluation indicators of private insurance companies using the balanced score method with experts opinion, Insurance Research, 1, 71–86. https://www.sid.ir/paper/474667/fa. [persian].
Hazave’I, S. M., & Ziraki Haydari, / Ali. (2014). Resistive Economy; A Symbol of Jihadi Management in Iran’s Political Economy. Islamic-Teacing-University, 11(37), 9–26. http://enghelab.maaref.ac.ir/article-1-1073-fa.html. [persian].
Hemati, M., Ebrahimi, I. (2017). Performance evaluation of insurance companies with emphasis on regulatory challenges, The 28th annual conference on monetary and exchange policies: with the theme: structural reforms for financial stability, 2017, https://civilica.com/doc/784230. [persian].
Jia-Ying, J., Zhou, L., Shen, W., Xiuli, L., Huizhen, J., & Wentsao, P. (2023). Performance evaluation and analysis of Chinese insurance companies under uncertain financial markets. Heliyon, 9(11), e21487. https://doi.org/https://doi.org/10.1016/j.heliyon.2023.e21487.
Khajavi dehshib, F., Rostami, M & Mosleh, M. (2021). Evaluation of the performance of insurance companies admitted to the stock exchange. Business Management, 51, 344–360. https://www.noormags.ir/view/fa/articlepage/2010419. [persian].
Kazemi, A & Hosseinmirzaeinabi, M. (2018). Evaluation of the performance of insurance company agencies using the combination of organizational excellence indicator and data coverage analysis method, Research in accounting and economic sciences, 2, 57-70. https://www.noormags.ir/view/fa/articlepage/1410258. [persian].
Momeni, M & Shahkhah, N. (2008). Evaluating the efficiency of Iranian insurance companies using the two-stage DEA communication model, Insurance Research, 1, 1–46. https://www.sid.ir/paper/473703/fa.  [Persian].
Niakan, L., Atatalab, F. (2020). An Evaluation and Risk Based Supervision of Insurance Companies. Insurance Research, 4, 235–263. https://doi.org/10.22056/ijir.2019.04.07. [persian].
Omrania, H., Gharizadeh, R & Shafie kaleibari, S. (2015). Performance assessment and ranking of Iranian insurance companies using an integrated model with experts preferences. Industrial management Journal, 4, 791-807. https://doi.org/10.22059/imj.2014.50702. [persian].
 Pourkazemi, M., Samsami, H & Ebrahimighavamabadi, Kh. (2012). Measuring efficiency and productivity of public and private insurance companies using data envelopment analysis and the Malmquist index. Insurance Research, 4, 1–26. https://www.noormags.ir/view/fa/articlepage/885713. [Persian].
Ramazani, H & Alavivafa, H. (2017). Internal Challenges Facing Iran's Insurance Industry in Critical Conditions - Case Study of Fire Insurance in Asia Insurance Company. Insurance Research, 2, 145–181. https://doi.org/10.22054/irisk.2019.18586.1016. [Persian]
Rostami, V., Hashemi, M & Taghvaei, M. (2016). Regulatory challenges in the country's commercial insurance industry, Journal of Administrative Law Quarterly, 2, 57-86. http://qjal.smtc.ac.ir/browse.php?a_id=62&sid=1&slc_lang=fa. [Persian].
Ramazani, R. (2008). Investigating the performance efficiency of Sepeh Bank using data coverage analysis method with the help of Tranquist index, master's thesis, Shahid Beheshti University. [Persian].
Report; Examining solutions to confront the insurance industry with internal and external challenges; 5 innovative educational solutions for the growth of the insurance industry. (2017). Insurance Horizon, 28, 17-19. [Persian].
Smętek, K., Zawadzka, D., & Strzelecka, A. (2022). Examples of the use of Data Envelopment Analysis (DEA) to assess the financial effectiveness of insurance companies. Procedia Computer Science, 207, 3924–3930. https://doi.org/https://doi.org/10.1016/j.procs.2022.09.454. [In Persian].
 
 
Productivity Management Studies
Volume 1, Issue 1
January 1404
Pages 57-72