Productivity in the Insurance Company: A Meta-Regression Analysis

Abstract

Purpose –This study attempts to examine the studies using Malmquist Productivity Index (MPI) in calculating the productivity of insurance sector and to identify the factors influencing their total factor productivity change through meta-regression analysis. Design/Methodology/Approach –This study employed 29 empirical articles which were published between 1977-2023 and which met the inclusion criteria. Findings –The results on the meta-regression analysis revealed that the publication year of the studies and the income groups of the countries did not have an impact on the total factor productivity. The number of observations, number of variables, and branch of theinsurance company were statistically significant on the estimation of total factor productivity change.Discussion –In this study, a meta-regression analysis systematically highlights the effects of methodological assumptions on the productivity of insurance companies and synthesize empirical findings. The study serves to make the literature more accessible to researchers who will use the MPI method for measuring the productivity of insurance companies. This study is expected to guide managers in enhancing the productivity of insurance companies, considering national requirements, making and implementing legal regulations, and identifying policies