ASSESSMENT OF PRODUCTIVITY OF PRIVATE INSURANCE COMPANIES IN TURKEY
As a developing country, Turkey has a growing insurance sector. However, the sector has several disadvantages such as high premium amounts and high inflation level. Therefore, assessing performance and efficiency with considering premium-expense balance in order to sustain their existence in increas...
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| Autores principales: | , |
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| Formato: | article |
| Lenguaje: | DE EN FR TR |
| Publicado: |
Fırat University
2019
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| Materias: | |
| Acceso en línea: | https://doaj.org/article/1a646388377745378bc4277927054c54 |
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| Sumario: | As a developing country, Turkey has a growing insurance sector. However, the sector has several disadvantages such as high premium amounts and high inflation level. Therefore, assessing performance and efficiency with considering premium-expense balance in order to sustain their existence in increasingly competitive environment is highly important for insurance companies. In this study, determining the change in years by assessing the efficiency of non-life insurance companies operated in 2005 to 2015 and presenting what improvements should be made so that companies can continue their activities more effectively was aimed. This study includes all non-life insurance companies operating in Turkey, both domestic and foreign capital, and conducted with 50 insurance companies. The data necessary for analysis is obtained from Insurance and Private Pension Reports published by Republic of Turkey Prime Ministry Undersecretariat of Treasury. Shareholders’ equity, total number of personnel and fixed assets are determined as input variables; net period profit or loss and written premium are determined as output variables in this study. Data Envelopment Analysis (VZA) was used for efficiency measurement through EMS (Efficiency Measurement System) package program. As a result of the analysis made by the CCR approach, it is determined that the number of 100% effective companies is at the maximum in 2012 and 2013, and 2009 according to the BCC approach. To conclude, increased competition in the insurance sector makes it necessary for companies to use their resources efficiently. For this reason, it is recommended that policy makers control the productivity, profitability and sustainability of each period. |
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