PRODUCTIVITY CHANGES OF INSURERS: METAFRONTIER MALMQUIST PRODUCTIVITY INDEX AND A BOOTSTRAPPING APPROACH

Qian Long Kweh (), Kevin Downing (), Wen-Min Lu and Irene Wei Kiong Ting ()
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Qian Long Kweh: Faculty of Management, Canadian University Dubai, P.O. Box 117781, 1st Interchange, Sheikh Zayed Road, Dubai, UAE
Kevin Downing: Institutional Research Office, City University of Hong Kong, 83 Tat Chee Ave, Kowloon Tong, Hong Kong
Wen-Min Lu: Department of International Business Administration, Chinese Culture University, No. 55, Hwa-Kang Road, Shilin District, Taipei 11114, Taiwan
Irene Wei Kiong Ting: Faculty of Industrial Management, Universiti Malaysia Pahang, 26300 Gambang, Pahang, Malaysia

The Singapore Economic Review (SER), 2024, vol. 69, issue 07, 2259-2280

Abstract: Insurance penetration rate in Malaysia is low at only between 40% and 50%. Following the government’s policy goal of increasing the rate, this study examined metafrontier Malmquist productivity index (MMPI) and drivers of the MMPI among Malaysian insurers. Over the 2009–2017 period, general insurers and life insurers were technology leaders. General insurers had progressive productivity (MMPI) on average, whereas the MMPI values of the life and general insurers and life insurers were in deterioration. Overall, long-term strategic planning and capital investment alongside government’s liberalization to increase competition in the industry are thus necessary.

Keywords: Productivity change; data envelopment analysis; Malmquist productivity index; metafrontier; insurance companies (search for similar items in EconPapers)
JEL-codes: G22 L11 O33 (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1142/S0217590820500344

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