This survey research paper explores the methods most commonly used in over 190 studies determining life insurance efficiency. The purpose is to provide an overview of life insurance efficiency studies and guidance as to the (dis)advantages of the different techniques used plus their applicability to life insurance. | A survey of life insurance efficiency papers Methods pros cons trends Accounting 3 2017 137 170 Contents lists available at GrowingScience Accounting homepage ac A survey of life insurance efficiency papers Methods pros amp cons trends William Wisea a Sydney NSW Australia CHRONICLE ABSTRACT Article history This survey research paper explores the methods most commonly used in over 190 studies Received October 5 2016 determining life insurance efficiency. The purpose is to provide an overview of life insurance Received in revised format efficiency studies and guidance as to the dis advantages of the different techniques used plus November 11 2016 their applicability to life insurance. An evaluation of the different approaches is undertaken Accepted November 20 2016 Available online plus an examination of the numbers and trends of methods and aspects of life insurance November 22 2016 efficiency measurement. This paper also discusses the fundamental elements of life insurance Keywords efficiency estimation such as the set-up and form of outputs and inputs. Findings include that Life Insurance the focus of life insurance efficiency studies considering individual nations has changed. Efficiency Additionally data envelope analysis is the technique used most commonly with stochastic Inputs Outputs frontier analysis next. Another main result is that output proxies akin to premiums and Literature Review investment income is utilized most. This study allows practitioners to determine the best techniques to employ in life insurance efficiency studies. Moreover an evaluation by regulators of the value and applicability of such studies is facilitated. Therefore an assessment of the overall results of efficiency studies is possible. In addition ideas for potential further research are discussed. Consequently this review will be useful to both practitioners and regulators concerned with this area. 2017 Growing Science Ltd. All rights reserved. 1.
