Hull insurance is a kind of Marine insurance,which takes various types of ships as the subject matter of insurance and covers all or part of the losses caused by natural disasters and accidents and the possible liabil...Hull insurance is a kind of Marine insurance,which takes various types of ships as the subject matter of insurance and covers all or part of the losses caused by natural disasters and accidents and the possible liability compensation incurred by them when they are sailing on the sea or berthing in the harbor.A time policy or a voyage policy shall be adopted for Hull insurance.Its characteristic is insurance liability is limited to water only.With the development of economy and the expansion of shipping,China’s Hull insurance industry has developed rapidly.However,no one has studied the operating efficiency of China’s commercial Hull insurance.This paper analyzes the operating efficiency of Hull insurance through DEA analysis method and puts forward relevant suggestions.展开更多
Maternity insurance fund is an important part of social insurance fund. It plays an important role in safeguarding the rights and interests of pregnant women and improving the welfare of women. With the expansion of t...Maternity insurance fund is an important part of social insurance fund. It plays an important role in safeguarding the rights and interests of pregnant women and improving the welfare of women. With the expansion of the balance of the birth insurance fund, the balance of income and expenditure has become a difficult goal to be reached. Therefore, this paper aims to evaluate the operating efficiency of the birth insurance fund, discover the problems of the birth insurance system, and put forward some suggestions to improve the efficiency of the birth insurance fund and promote the perfection of the birth insurance.展开更多
In performance analysis with tools such as data envelopment analysis,calculations of scale properties of the frontier points are studied using both qualitative and quantitative approaches.When the production process i...In performance analysis with tools such as data envelopment analysis,calculations of scale properties of the frontier points are studied using both qualitative and quantitative approaches.When the production process is a bit complicated,the calculation needs to be modified.Most existing studies are focused on a single-stage production process under the constant or variable returns to scale specification.However,some processes have two-stage structures,and,in such processes,the concepts of scale elasticity and returns to scale are inextricably related to the conditions of the stages of production.Thus,an evaluation of efficiency,scale elasticity,and returns to scale is sensitive to stages.In this study,we introduced a procedure to calculate technical efficiency and scale elasticity in a two-stage parallel-series production system.Then,our proposed technical efficiency and scale elasticity programs are applied to real data on 20 insurance companies in Iran.After applying our estimations to a real-world insurance industry,we found that,(i)overall,the total inputs of insurers in the life insurance sector should be reduced by 9%.Moreover,the inputs of nonlife insurers should be reduced by 50%.The final output in the investment sector must be increased by 48%.(ii)There are inefficiencies among all insurers in the investment sector,and to improve technical efficiency,the income from investments should be increased significantly.(iii)Finally,the efficiency and elasticity characterizations of insurers are directly subject to stages.展开更多
Aging of population will cause a series of socio- economic and population problems /exerting great pressure and challenge on the social security system.Through the connection of quantitative analysis,qualitative analy...Aging of population will cause a series of socio- economic and population problems /exerting great pressure and challenge on the social security system.Through the connection of quantitative analysis,qualitative analysis,empirical study and normative study,as well as data collection and analysis of the state of supply and demand of the commercial endowment insurance market in China,this paper analyzes the factors that influence the effective demand and effective supply of the commercial endowment insurance in China,makes further analysis of the total amount and structure,and finally draws the conclusion on and puts forward advice about the effective development of the commercial endowment insurance market in China.展开更多
Background Taiwan has implemented a National Health Insurance （NHI） program to provide uniform comprehensive coverage since 1995. Forced by the severe financial deficit, global budgeting is introduced to replace the...Background Taiwan has implemented a National Health Insurance （NHI） program to provide uniform comprehensive coverage since 1995. Forced by the severe financial deficit, global budgeting is introduced to replace the original payment system in Taiwan＇s NHI. Under global budgeting system, the total budget is distributed to six geographical regions in Taiwan. There is no pre-determined budget for each hospital. In order to investigate the longitudinal trend of how global budgeting influences health care resource, it is essential to estimate the efficiency of resource allocation in Taiwan＇s NHI. Methods Data Envelopment Analysis （DEA） and Malmquist index （MI） are used to investigate the 8-year panel data of 23 cities and counties which was collected from the annual report from the Department of Health, Taiwan, China. A value of MI greater than 1 indicates that total factor productivity progress has occurred, while a value of MI less than 1 indicates productivity loss. Results As a result, 37 of the 184 DMUs in the analysis were found to be relatively efficient during the period, in which 14 of 23 DMUs are efficient in 2002 right after adopting globe budgeting. A trend of MI declines between 2002 and 2009 implies the volume of health care services decrease after adopting global budgeting system. Production efficiency has been improved after global budgeting implies that behaviors of health providers control cost and avoid wasting resource at macro level. Conclusions The regressive MI indicates the hospitals redistribute health care resource to eliminate unnecessary treatment and to control the growth of service volume under global budgeting system. Hence, a trend of declining MI focuses on health care resource redistribution rather than efficiency improvement in this study.展开更多
The Chinese life-insurance industry has experienced major structural changes in recent years, primarily because of increasing demand and the entry of foreign insurers. Although the market is clearly booming, the effic...The Chinese life-insurance industry has experienced major structural changes in recent years, primarily because of increasing demand and the entry of foreign insurers. Although the market is clearly booming, the efficiency of its growth and development is unclear. In this paper, we evaluate the efficiency of life insurers operating in China and compare foreign firms with domestic firms. We find that foreign insurers have not brought efficiency into the Chinese market, and that the market is still dominated by domestic giants. However, the gap between foreign insurers and domestic insurers is narrowing. After testing hypotheses regarding scale economy, technical progress andpotential improvements, we discuss several issues＇ of importance to life insurers, market investors and government regulators.展开更多
Background The ＂National＂ Health Insurance （NHI） in Taiwan, China is a single-payer system that was introduced in 1995 to provide universal health care. It is worth noting that three stakeholders are involved in T...Background The ＂National＂ Health Insurance （NHI） in Taiwan, China is a single-payer system that was introduced in 1995 to provide universal health care. It is worth noting that three stakeholders are involved in Taiwan＇s NHI, which can be seen as a triangular governance regime between the Bureau of ＂National＂ Health Insurance （BNHI）, the insured and providers. Accordingly, this study intended to assess the efficiency of various different production processes that occur among these stakeholders in Taiwan＇s NHI system. Methods A two-stage relational Data Envelopment Analysis （DEA） model is adopted to investigate the sub-process efficiencies of the health care resources held by 23 cities and counties through stages I or II, where the outputs of the first stage serve the inputs of the second. The dataset was collected from the annual reports published by the Department of Health, Taiwan, China. Results Under the proposed framework, the efficiency of the whole process can be obtained from the product of productivity and allocative efficiency. Ten DMUs are efficient either in stages I or II, with only two DMUs being efficient with regard to both sub-processes. Conclusion The relational DEA model not only demonstrates the physical relationship between the whole process and the sub-process components, but also produces reliable outcomes in efficiency measurement among different stakeholders in Taiwan＇s NHI system.展开更多
This papcr investigates a Parcto optimal insurancc contract design problcm within a behavioral finance framework.In this context,the insured evaluates contracts using the rank-dependent utility(RDU,for short)theory,wh...This papcr investigates a Parcto optimal insurancc contract design problcm within a behavioral finance framework.In this context,the insured evaluates contracts using the rank-dependent utility(RDU,for short)theory,while the insurer applies the expected value premium principle.The analysis incorporates the incentive compatibility constraint,ensuring that the contracts,called moral-hazard-free,are free from the moral hazard issues identified in Bernard et al.[4].Initially,the problem is formulated as a nonconcave maximization problem involving Choquet expectation.It is then transformed into a quantile optimization problem and addrcssed using thc calculus of variations mcthod.The optimal contracts are characterized by a double-obstacle ordinary differential equation for a semi-linear second-order elliptic operator with nonlocal boundary conditions,which seems new in the financial economics literature.We present a straightforward numerical scheme and a numerical example to compute the optimal contracts.Let and mo represent the relative safety loading and the mass of the potential loss at O,respectively.We discover that every moral-hazard-free contract is optimal for infinitely many RDU-insured individuals if 0<θ<m_(0)/1-m_(0).Conversely,certain contracts,such as the full coverage contract,are never optimal for any RDU-insured individual ifθ>m_(0)/1-m_(0)Additionally,we derive all the Pareto optimal contracts when either the compensation or the retention violates the monotonicity constraint.展开更多
文摘Hull insurance is a kind of Marine insurance,which takes various types of ships as the subject matter of insurance and covers all or part of the losses caused by natural disasters and accidents and the possible liability compensation incurred by them when they are sailing on the sea or berthing in the harbor.A time policy or a voyage policy shall be adopted for Hull insurance.Its characteristic is insurance liability is limited to water only.With the development of economy and the expansion of shipping,China’s Hull insurance industry has developed rapidly.However,no one has studied the operating efficiency of China’s commercial Hull insurance.This paper analyzes the operating efficiency of Hull insurance through DEA analysis method and puts forward relevant suggestions.
文摘Maternity insurance fund is an important part of social insurance fund. It plays an important role in safeguarding the rights and interests of pregnant women and improving the welfare of women. With the expansion of the balance of the birth insurance fund, the balance of income and expenditure has become a difficult goal to be reached. Therefore, this paper aims to evaluate the operating efficiency of the birth insurance fund, discover the problems of the birth insurance system, and put forward some suggestions to improve the efficiency of the birth insurance fund and promote the perfection of the birth insurance.
文摘In performance analysis with tools such as data envelopment analysis,calculations of scale properties of the frontier points are studied using both qualitative and quantitative approaches.When the production process is a bit complicated,the calculation needs to be modified.Most existing studies are focused on a single-stage production process under the constant or variable returns to scale specification.However,some processes have two-stage structures,and,in such processes,the concepts of scale elasticity and returns to scale are inextricably related to the conditions of the stages of production.Thus,an evaluation of efficiency,scale elasticity,and returns to scale is sensitive to stages.In this study,we introduced a procedure to calculate technical efficiency and scale elasticity in a two-stage parallel-series production system.Then,our proposed technical efficiency and scale elasticity programs are applied to real data on 20 insurance companies in Iran.After applying our estimations to a real-world insurance industry,we found that,(i)overall,the total inputs of insurers in the life insurance sector should be reduced by 9%.Moreover,the inputs of nonlife insurers should be reduced by 50%.The final output in the investment sector must be increased by 48%.(ii)There are inefficiencies among all insurers in the investment sector,and to improve technical efficiency,the income from investments should be increased significantly.(iii)Finally,the efficiency and elasticity characterizations of insurers are directly subject to stages.
基金the staged achievement of the first batch of 2015 science and technology program of the Science and Technology Department of Sichuan Province-On the Construction of the Diversified Pension Raising Channel of Sichuan in the Backdrop of Aging of Population:A Case Study of the Consumption Endowment Mode(2015ZR0208)2014 Chengdu Soft Science research project-On the Construction of the Consumption Endowment Operation Mode in Chengdu(2014-RK00-00156-ZF)+1 种基金the 2014 Project of the Research Center of Informatization of Regional Public Management of the Philosophy and Social Science Key Study Base of Sichuan-On the Construction of the Consumption Endowment Mode Based on the Closedloop Effect in the Context of Big Data(QGXH14-07)the General Project of Liberal Arts of 2014 the Education Department of Sichuan-On the Construction and Innovation of the Consumption Endowment Insurance System in the Regions Facing Aging of Population-A Case Study of Sichuan(14SB0048)
文摘Aging of population will cause a series of socio- economic and population problems /exerting great pressure and challenge on the social security system.Through the connection of quantitative analysis,qualitative analysis,empirical study and normative study,as well as data collection and analysis of the state of supply and demand of the commercial endowment insurance market in China,this paper analyzes the factors that influence the effective demand and effective supply of the commercial endowment insurance in China,makes further analysis of the total amount and structure,and finally draws the conclusion on and puts forward advice about the effective development of the commercial endowment insurance market in China.
文摘Background Taiwan has implemented a National Health Insurance （NHI） program to provide uniform comprehensive coverage since 1995. Forced by the severe financial deficit, global budgeting is introduced to replace the original payment system in Taiwan＇s NHI. Under global budgeting system, the total budget is distributed to six geographical regions in Taiwan. There is no pre-determined budget for each hospital. In order to investigate the longitudinal trend of how global budgeting influences health care resource, it is essential to estimate the efficiency of resource allocation in Taiwan＇s NHI. Methods Data Envelopment Analysis （DEA） and Malmquist index （MI） are used to investigate the 8-year panel data of 23 cities and counties which was collected from the annual report from the Department of Health, Taiwan, China. A value of MI greater than 1 indicates that total factor productivity progress has occurred, while a value of MI less than 1 indicates productivity loss. Results As a result, 37 of the 184 DMUs in the analysis were found to be relatively efficient during the period, in which 14 of 23 DMUs are efficient in 2002 right after adopting globe budgeting. A trend of MI declines between 2002 and 2009 implies the volume of health care services decrease after adopting global budgeting system. Production efficiency has been improved after global budgeting implies that behaviors of health providers control cost and avoid wasting resource at macro level. Conclusions The regressive MI indicates the hospitals redistribute health care resource to eliminate unnecessary treatment and to control the growth of service volume under global budgeting system. Hence, a trend of declining MI focuses on health care resource redistribution rather than efficiency improvement in this study.
文摘The Chinese life-insurance industry has experienced major structural changes in recent years, primarily because of increasing demand and the entry of foreign insurers. Although the market is clearly booming, the efficiency of its growth and development is unclear. In this paper, we evaluate the efficiency of life insurers operating in China and compare foreign firms with domestic firms. We find that foreign insurers have not brought efficiency into the Chinese market, and that the market is still dominated by domestic giants. However, the gap between foreign insurers and domestic insurers is narrowing. After testing hypotheses regarding scale economy, technical progress andpotential improvements, we discuss several issues＇ of importance to life insurers, market investors and government regulators.
文摘Background The ＂National＂ Health Insurance （NHI） in Taiwan, China is a single-payer system that was introduced in 1995 to provide universal health care. It is worth noting that three stakeholders are involved in Taiwan＇s NHI, which can be seen as a triangular governance regime between the Bureau of ＂National＂ Health Insurance （BNHI）, the insured and providers. Accordingly, this study intended to assess the efficiency of various different production processes that occur among these stakeholders in Taiwan＇s NHI system. Methods A two-stage relational Data Envelopment Analysis （DEA） model is adopted to investigate the sub-process efficiencies of the health care resources held by 23 cities and counties through stages I or II, where the outputs of the first stage serve the inputs of the second. The dataset was collected from the annual reports published by the Department of Health, Taiwan, China. Results Under the proposed framework, the efficiency of the whole process can be obtained from the product of productivity and allocative efficiency. Ten DMUs are efficient either in stages I or II, with only two DMUs being efficient with regard to both sub-processes. Conclusion The relational DEA model not only demonstrates the physical relationship between the whole process and the sub-process components, but also produces reliable outcomes in efficiency measurement among different stakeholders in Taiwan＇s NHI system.
基金support from the NSFC(Grant No.11471276,11971409)The Hong Kong RGC(GRF Grant No.15202817,15202421,15204622 and 15203423)+1 种基金the PolyU-SDU Joint Research Center on Financial Mathematics,the CAS AMSS-PolyU Joint Laboratory of Applied Mathematics,the Research Centre for Quantitative Finance(1-CE03)internal grants from The Hong Kong Polytechnic University.
文摘This papcr investigates a Parcto optimal insurancc contract design problcm within a behavioral finance framework.In this context,the insured evaluates contracts using the rank-dependent utility(RDU,for short)theory,while the insurer applies the expected value premium principle.The analysis incorporates the incentive compatibility constraint,ensuring that the contracts,called moral-hazard-free,are free from the moral hazard issues identified in Bernard et al.[4].Initially,the problem is formulated as a nonconcave maximization problem involving Choquet expectation.It is then transformed into a quantile optimization problem and addrcssed using thc calculus of variations mcthod.The optimal contracts are characterized by a double-obstacle ordinary differential equation for a semi-linear second-order elliptic operator with nonlocal boundary conditions,which seems new in the financial economics literature.We present a straightforward numerical scheme and a numerical example to compute the optimal contracts.Let and mo represent the relative safety loading and the mass of the potential loss at O,respectively.We discover that every moral-hazard-free contract is optimal for infinitely many RDU-insured individuals if 0<θ<m_(0)/1-m_(0).Conversely,certain contracts,such as the full coverage contract,are never optimal for any RDU-insured individual ifθ>m_(0)/1-m_(0)Additionally,we derive all the Pareto optimal contracts when either the compensation or the retention violates the monotonicity constraint.
