台灣壽險公司經營績效之研究 -金控架構與獨立公司之比較

The Operating Performance of Life Insurance Companies in Taiwan-A Comparison of Financial Holding Companies and Non-holding Companies

鍾素霞(Suh-Shia Chung)

指導教授 ： 胡為善

中原大學/商學院/企業管理研究所/碩士(2005年)

https://doi.org/10.6840/cycu200500441

摘要

摘要
本研究旨在探究本國壽險公司（2000年至2004年）在金融市場改變、行銷通路的整合及金控架構與非金控架構下經營效率之變化。並將樣本壽險公司分成二大群組以測量群組是否造成效率值的不同，以「內勤人員數」、「外勤人員津貼」、「營業支出」、「業務管理費用」為投入項；以「個人壽險新契約保費收入」、「個人壽險續年度保費收入」、「其他保費收入」「投資金額」為產出項。利用資料包絡分析法（DEA）之CCR與BCC模式衡量壽險業之經營效率、純粹技術效率與規模效率，再利用Malmquist生產力指數分析兩類壽險公司生產力的變動情形。結論彙整如下︰
一、橫斷面分析
金控之壽險公司相對效率較穩定，而相對無效率之公司均屬經營規模較小的。於市場一片榮景之時，獨立壽險公司應適時適量的擴充規模。當保險公司均採銀行保險、保險經紀、保險代理通路，行銷之商品相似時，其中之差異縮短，則孤芳自賞型的公司不易出現。
二、縱剖面分析（Malmquist生產力指數分析）
金控族群之壽險公司無論在金控成立前或後，各項變化都呈現逐年成長的趨勢。獨立壽險公司在金控成立後，雖經多元化行銷通路及產品策略有所改善，仍有數家生產力變動呈現負成長。由於政府對壽險資金運用政策改革，各壽險公司投資收入都呈現逐年成長的現象。所以壽險除了自身不斷提升經營管理能力外，政府政策的開放及適度的監督才能促進整體壽險業更據競爭力。

關鍵字: 資料包絡分析法、Malmquist生產力指數、壽險公司

關鍵字

資料包絡分析法、Malmquist生產力指數、壽險公司

並列摘要

Abstract
This study attempts to explore the changes in the operating performance of domestic life-insurance companies before and after the establishment of financial holding company since 2000. Operational efficiency are also examined between financial holding company and non-financial holding company on both the input items and output terms. The input items are (1)the number of office staff; (2)the compensation and allowances to insurance agents; (3)the operational expenses and (4) business & administrative expenses. The output terms are (1)the first year income of individual life’s insurance premium; (2)the renewal of individual life’s insurance premiums ;(3)other incomer of premiums and (4) investment amount. Using CCR and BCC models of Data-Envelopment Analysis(DEA), this work calculates the operational efficiency, the straight technical efficiency, and the scale efficiency of the life insurance companies. Then this investigation analyzes the change of productivities of two kinds of life insurance companied by using Malmquist Productivity Index. The empirical result are summarized as follows:
1. The cross-section analysis:
The relative efficiency of life insurance companies under financial holding companies is more steady than that under non-financial holding companies. This work finds that when the market is booming, the independent insurance companies (i.e. non-financial holding companies) should expand its business to include banking, insurance agents and insurance brokers. Moreover, the independent companies should merge with the companies which having banking or security businesses.
2. The vertical- section analysis (Malmquist Productivity Index Analysis ):
The life insurance companies under financial holding companies grew rapidly in all
variables after the establishment of financial holding company. Most of the independent life insurance companies have experienced negative growth after the establishment of financial holding company, even they did their best to expand their business variety and sales channels. Due to the improvement on the funding use policy by government, the investment revenue of the life insurance companies increases year by year. This study suggests that the insurance companies should continuously improve their management ability, the government should constantly provide appropriate supervision in order to improve the competition ability of all life insurance companies.

Key word: Data-Envelopment Analysis , Malmquist Productivity Index , Life Insurance Company

並列關鍵字

Malmquist Productivity Index ； Data-Envelopment Analysis ； Life Insurance Company

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