Abstract
This study attempts to analyze the relationship between corporate image and business operation of life insurance companies in Taiwan. Based on the performance indicators in underwriting and financial constructs, this study conducts regression analysis to find the influential factors for corporate image of life insurers. This study finds that both underwriting and financial operations have considerable impacts on the corporate image of life insurance companies. The results indicate that consumers evaluate the corporate image based on not only the financial performance but also the quality of underwriting management, such as services provided by the insurers. The company background (e.g. subsidiary of financial holding companies or foreign insurers) does not significantly influence the corporate image. The findings of this study suggest that the life insurance companies in Taiwan should pay more attention to the underwriting activities and service quality in order to enhance their corporate image.
Appendix
The major indexes of life insurance market in Taiwan (unit: NT$)
Year | Insurance density1 | Insurance penetration2 (%) | Ratio of insurance coverage3 (%) | Ratio of prevalence4 (%) | Average coverage amount | |
New contracts | Contracts in force | |||||
2002 | 39,487 | 8.54 | 143.70 | 256.77 | 554,700 | 791,100 |
2003 | 50,106 | 10.59 | 158.87 | 274.50 | 555,200 | 760,400 |
2004 | 57,671 | 11.51 | 166.21 | 281.12 | 786,300 | 777,000 |
2005 | 64,021 | 12.42 | 176.13 | 294.22 | 700,400 | 781,000 |
2006 | 68,353 | 12.77 | 184.01 | 299.68 | 803,600 | 792,500 |
2007 | 81,675 | 14.52 | 196.03 | 313.25 | 989,700 | 821,300 |
2008 | 83,294 | 15.20 | 203.27 | 331.23 | 670,900 | 809,700 |
2009 | 86,790 | 16.08 | 204.84 | 339.67 | 678,500 | 813,000 |
2010 | 99,855 | 17.07 | 210.70 | 316.31 | 645,000 | 797,000 |
2011 | 94,647 | 16.08 | 215.84 | 324.10 | 637,500 | 792,400 |
The growth of asset size of life insurance industry in Taiwan
Year | Total assets of financial institutions in Taiwan | Total assets of life insurers in Taiwan | |||
NT$ million (1) | Growth rate (%) | NT$ million (2) | Growth rate (%) | Asset ratio (2)/(1) (%) | |
2002 | 27,176,004 | 3.7 | 3,498,402 | 23.6 | 12.87 |
2003 | 29,875,387 | 9.9 | 4,576,263 | 30.8 | 15.32 |
2004 | 32,531,284 | 8.9 | 5,450,673 | 19.1 | 16.76 |
2005 | 36,024,614 | 10.7 | 6,485,405 | 19.0 | 18.00 |
2006 | 38,425,821 | 6.7 | 7,756,511 | 19.6 | 20.19 |
2007 | 39,629,701 | 3.1 | 8,746,487 | 12.8 | 22.07 |
2008 | 42,218,832 | 6.5 | 9,169,449 | 4.8 | 21.72 |
2009 | 44,950,907 | 6.5 | 10,782,439 | 17.6 | 23.99 |
2010 | 47,259,882 | 5.1 | 12,123,701 | 12.4 | 25.65 |
2011 | 50,452,902 | 6.8 | 13,051,676 | 7.7 | 25.87 |
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- 1
The results of t-test and Wilcoxon test can be requested from the authors.
- 2
The results of t-test, Wilcoxon test, and Pearson correlation can be requested from the authors.
- 3
The results of t-test, Wilcoxon test, and Pearson correlation can be requested from the authors.
©2014 by Walter de Gruyter Berlin / Boston
Artikel in diesem Heft
- Frontmatter
- An Analysis of Systemic Risk in the Insurance Sector – Evidence from Asia-Pacific Region
- Demand for Life Insurance in Malaysia: An Ethnic Comparison Using Household Expenditure Survey Data
- The Determinants of Corporate Image for Life Insurers in Taiwan
- Farmland-based Reverse Mortgages for Aged Farmers
- The Longevity Prospects of Australian Seniors: An Evaluation of Forecast Method and Outcome
- Optimal Symmetric No-Trade Ranges in Asset Rebalancing Strategy with Transaction Costs
Artikel in diesem Heft
- Frontmatter
- An Analysis of Systemic Risk in the Insurance Sector – Evidence from Asia-Pacific Region
- Demand for Life Insurance in Malaysia: An Ethnic Comparison Using Household Expenditure Survey Data
- The Determinants of Corporate Image for Life Insurers in Taiwan
- Farmland-based Reverse Mortgages for Aged Farmers
- The Longevity Prospects of Australian Seniors: An Evaluation of Forecast Method and Outcome
- Optimal Symmetric No-Trade Ranges in Asset Rebalancing Strategy with Transaction Costs