Productivity and Efficiency in Insurance: An Overview of the Issues

96-57

62 Pages Posted: 6 May 1997  

Douglas O. Cook

University of Alabama - Culverhouse College of Commerce & Business Administration

J David Cummins

Temple University - Risk Management & Insurance & Actuarial Science

Date Written: October 1994

Abstract

In this paper we have identified the major developments and issues that affect productivity and efficiency in insurance. We have used the designation "Life" to refer to developments and issues affecting life insurers and "P/C" for those affecting property/casualty insurers. The following is a listing of these issues: 1. Marketing, Relationship marketing, Distribution, Electronic data interchange, Market segmentation, Service centers, Point of sale policy illustrations, Unbundling of services, Innovative policies and products 2. Underwriting and expert systems 3. Data processing, General issues, Outsourcing vs. in-house, Centralization vs. decentralization, Mainframe vs. mini vs. workstations, Image systems, Technology, systems, and software, Links between mainframes and pc networks 4. Claims settlement 5. Miscellaneous, Total quality management, Reengineering, Downsizing Mergers and acquisitions, Management reporting 6. Financial risk management, Overview of risk, Balanced view of risk, Perspective on risk, Catastrophic risk, Asset-liability management, Capital budgeting, Derivatives, Regulation

JEL Classification: G22

Suggested Citation

Cook, Douglas O. and Cummins, J David, Productivity and Efficiency in Insurance: An Overview of the Issues (October 1994). 96-57. Available at SSRN: https://ssrn.com/abstract=2150 or http://dx.doi.org/10.2139/ssrn.2150

Douglas O. Cook

University of Alabama - Culverhouse College of Commerce & Business Administration ( email )

Culverhouse College of Business
Tuscaloosa, AL 35487-0223
United States
205-348-8971 (Phone)
205-348-0590 (Fax)

J. David Cummins (Contact Author)

Temple University - Risk Management & Insurance & Actuarial Science ( email )

Fox School of Business and Management
1801 Liacouras Walk.
Philadelphia, PA 19122
United States
215-204-8468 (Phone)
215-204-4712 (Fax)

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