보험회사의 특성과 생산성 : 독일 손해보험산업을 중심으로 = Productivity of Insurance Companies : Case of German P/C Insurance Companies

다국어 초록 (Multilingual Abstract)

This research aims to analyze the productity changes of German property and casualty insurance companies during the post-market liberalization period, e.g: 1995-1997, based upon a mathematical programming approach, Malmquist index approach, in order to obtain some implication for Korean insurance industries heading for continuing price deregulation, After analyzing 102 P/C insurance company data, provided by Koeln Insurance Research Institute, we find that overall technical efficiency level has decreased while efficieney gap among companies has enlarged. Analysis of Variance and Stepwise Regression Analysis are followed by the empirical results that stock insurance companies, strategically focusing companies and/or foreign owned companies dominate the other types of companies in terms of productivity changes. These resuits imply that Korean insurance companies need to adopt focusing strategy so that they can meet inereasing competition and ongoing market liberalization.