Efficiency measure of insurance v s takaful firms using DEA approach : a case of Pakistan
Joint Authors
Khan, Atiq al-Zafar
Nurin, Uzma
Source
Issue
Vol. 22, Issue 1 (31 May. 2014), pp.139-157, 19 p.
Publisher
Islamic Development Bank (IDB) Islamic Research and Training Institute (IRTI)
Publication Date
2014-05-31
Country of Publication
Saudi Arabia
No. of Pages
19
Main Subjects
Topics
- Economic development
- Islam
- Interdependence
- Insurance
- Comparative analysis
- Pakistan
- Twenty-first century
- Insurance companies
- Performance
Abstract EN
This study aims at comparing the Pakistan’s Takful and conventional insurance companies in terms of efficiency and productivity for the period 2006-2010.
We apply Data Envelopment approach to estimate technical, allocative and cost efficiencies.
The results indicate that the insurance industry as a whole is cost inefficient due to high allocative inefficiency.
However, technical efficiency components show improving trends.
Results further indicate that Takful firms are more efficient as compared to conventional insurance firms.
Malmquist productivity index shows a significant improvement in scale efficiency.
However, we do not find any considerable contribution of technology to improve overall productivity.
The study suggests introduction of innovative and diversified products in insurance industry of Pakistan, particularly for Takful companies.
American Psychological Association (APA)
Khan, Atiq al-Zafar& Nurin, Uzma. 2014. Efficiency measure of insurance v s takaful firms using DEA approach : a case of Pakistan. Islamic Economic Studies،Vol. 22, no. 1, pp.139-157.
https://search.emarefa.net/detail/BIM-540279
Modern Language Association (MLA)
Khan, Atiq al-Zafar& Nurin, Uzma. Efficiency measure of insurance v s takaful firms using DEA approach : a case of Pakistan. Islamic Economic Studies Vol. 22, no. 1 (May. 2014), pp.139-157.
https://search.emarefa.net/detail/BIM-540279
American Medical Association (AMA)
Khan, Atiq al-Zafar& Nurin, Uzma. Efficiency measure of insurance v s takaful firms using DEA approach : a case of Pakistan. Islamic Economic Studies. 2014. Vol. 22, no. 1, pp.139-157.
https://search.emarefa.net/detail/BIM-540279
Data Type
Journal Articles
Language
English
Notes
Includes appendix : p. 156-157
Record ID
BIM-540279