Abstract
Changes in regulations and laws, in the past few decades, have affected Taiwan’s life insurance industry and caused many insurers to modify their marketing strategies. This article analyzes the evolution of the productive patterns in a sample of 24 life insurers that operated in Taiwan from 1997 to 2006. We estimate Malmquist productivity indexes and decompose them into four sources of productivity change. Further, we compare the differences in efficiency scores before and after the change of distribution channel strategy. The results suggest that a direct distribution channel strategy performs better than a non-direct distribution channel strategy in terms of efficiency and productivity change. It means that the coexisting direct/indirect distribution systems cannot improve the efficiency of life insurers.
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