Evaluating traditional, dynamic and network business models: an efficiency-based study of Chinese insurance companies

dc.contributor.authorNourani, Mohammad
dc.contributor.authorKweh, Qian Long
dc.contributor.authorTing, Irene Wei Kiong
dc.contributor.authorLu, Wen-Min
dc.contributor.authorStrutt, Anna
dc.date.copyright© 2021
dc.descriptionThis work is not available in the CUD collection. The version of the scholarly record of this work is published in Geneva Papers on Risk and Insurance: Issues and Practice (2022), available online at: https://doi.org/10.1057/s41288-021-00246-2en_US
dc.description.abstractData envelopment analysis (DEA) is extensively adopted to evaluate the relative efficiencies of a group of insurance companies from a multidimensional perspective. Selecting an appropriate DEA framework for insurance businesses, however, remains ambiguous. We use the slack-based measure (SBM) models in DEA to evaluate insurance efficiencies from four perspectives, namely, SBM, network SBM (NSBM), dynamic SBM (DSBM), and dynamic network SBM (DNSBM) frameworks. We present the applicability of DEA to 32 unique companies operating in the Chinese insurance industry over the sample period 2014–2018. Through analyses, we highlight key DEA results and related constraints in reaching the most appropriate performance benchmarks for evaluating insurance companies’ efficiencies. We find that building a network structure for insurance efficiency evaluation is necessary because of the superiority of NSBM and DNSBM results over those of the conventional SBM and DSBM models. After including dynamic effects, we find consistent results in the divisional and overall efficiencies. Overall, this study provides insight for insurance companies to implement more efficient and effective ways to evaluate their performances in terms of profitability and investment in a challenging business environment. © 2021, The Geneva Association.en_US
dc.identifier.citationNourani, M., Kweh, Q. L., Ting, I. W. K., Lu, W. -., & Strutt, A. (2022). Evaluating traditional, dynamic and network business models: An efficiency-based study of Chinese insurance companies. Geneva Papers on Risk and Insurance: Issues and Practice, 47(4), 905-943. https://doi.org/10.1057/s41288-021-00246-2en_US
dc.publisherPalgrave Macmillanen_US
dc.relationAuthors Affiliations : Nourani, M., The University of Waikato Joint Institute at Zhejiang University City College, University of Waikato, Hangzhou, China; Kweh, Q.L., Faculty of Management, Canadian University Dubai, 1st Interchange, Sheikh Zayed Road, P.O. Box 117781, Dubai, United Arab Emirates; Ting, I.W.K., Faculty of Industrial Management, Universiti Malaysia Pahang, Gambang, Pahang 26300, Malaysia; Lu, W.-M., Department of International Business Administration, Chinese Culture University, No. 55, Hwa-Kang Road, Shilin District, Taipei, 11114, Taiwan; Strutt, A., Waikato Management School, University of Waikato, Private Bag 3105, Hamilton, 3240, New Zealand
dc.relation.ispartofseriesGeneva Papers on Risk and Insurance: Issues and Practice; Volume 47, Issue 4
dc.rightsPermission to reuse the abstract has been secured from Springer Nature and Copyright Clearance Center.
dc.rights.holderCopyright : © 2021, The Geneva Association.
dc.subjectBusiness modelen_US
dc.subjectData envelopment analysisen_US
dc.subjectDynamic modelen_US
dc.subjectNetwork modelen_US
dc.titleEvaluating traditional, dynamic and network business models: an efficiency-based study of Chinese insurance companiesen_US
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