英文摘要 |
Nowadays life insurance market in Taiwan is very competitive. Particularity for life insurance firms, to minimize the costs and to maximize the profits as the first priority. However, different scholars tend to handle this issue from different perspectives. This study adopted a Data Envelopment Analysis (DEA) to examine relative management efficiency, benchmark learning and slacks for 22 insurance firms in Taiwan in the period of 2014-2016. This study adopted a two-stage DEA approach. In the first stage, numbers of employees, debts and shareholders' equity, fixed assets and other assets were selected as the input variables, while premium life insurance incomes, medical insurance incomes, and accident insurance incomes were used as the intermediate variables. In the second stage, those intermediate variables were used at the input variables, while bank deposits, sales revenues and return on investment(ROI) were selected at the output variables. This research analyzes 22 life insurance companies with 66 Decision Making Units (DMU) in the period of 2014-2016. The data of this study was obtained from Insurance Information Disclosure Observatory. The outcome of the first stage shows that there are 19 Robustly Efficient Units (REUs) which are benchmark learning partners, 15 Median Efficient Units,13 Marginal Efficient Units (MEU), and 19 Marginal Inefficient Units (MIUs). The results of the second stage's results indicate that there are 16 REUs, 6 Median Efficient Units, 16 MEUs, and 28 MIUs. These DMUs which are not REUs could either decrease input without changing outputs or increase output without changing the inputs to maximize profits by referring REUs. The results of the first stage show that 8 companies are near the efficient frontier, including Cathay Life Insurance, Nan Shan Life Insurance, Shin Kong Life Insurance, Fubon Life Assurance, Mercuries Life Insurance, Cigna Taiwan Life Assurance, American International Assurance, and Cardif Assurance Vie from 2014 to 2016. The analyses of the second stage indicate that Life Insurance Division of Chunghwa Post and Chubb Life Insurance are in efficient frontier in three consecutive years. In other words, these companies can be benchmark learning partners for other in-efficient companies. The results of this research can provide reference for firm's continuous improvements, benchmarking learning, and strategic planning. |