QUANTITATIVE AND QUALITATIVE ANALYSIS IN ECONOMICS
ANALYSIS OF NON-LIFE INSURANCE COMPANIES’ EFFICIENCY IN THE REPUBLIC OF SERBIA: DEA APPROACH
Jelena J. Stanković, Žarko Popović, Ivana Marjanović
Abstract: The measurement of the efficiency of the insurance industry has become popular in the last years, both at the micro level (comparison of insurance companies), as well as at the macro level (comparison of the insurance systems at the countries level). It gives insights into the competitiveness of various insurance companies, in order to get a more detailed picture of good or bad practices. In this way, the existing problems or shortcomings may at least partially be solved or mitigated, and that will favourably affect not only the insurance system of a country, but also its overall economic development. This paper uses Data Envelopment Analysis (DEA) to examine and evaluate the efficiency of Serbian insurance companies during the period 2014–2016. The analysis will show which of the insurance companies operate efficiently. Also, it will identify the inefficient insurance companies and the reasons of inefficiency.
Keywords: insurance companies, data envelopment analysis, efficiency.
Published: p. 255-264
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