Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/193083
Authors: 
Lukic, Radojko
Sokic, Miro
Kljenak, Dragana Vojteski
Year of Publication: 
2018
Citation: 
[Journal:] Economic and Environmental Studies (E&ES) [ISSN:] 2081-8319 [Volume:] 18 [Year:] 2018 [Issue:] 1 [Pages:] 249-264
Abstract: 
Lately, as it is known, considerable theoretical and practical attention has been dedicated to the problems of analysing the business efficiency of insurance companies, both worldwide and in particular countries. In view of this, the paper conveys a complex analysis of the 2016 business efficiency of insurance companies in the Republic of Serbia, using theoretical, methodological and empirical knowledge. Over 60% of Serbian insurance market is controlled by only three insurance companies. Out of the 16 insurance companies, 11 are inefficient. In order to improve their business, it is necessary, above all, to more efficiently manage their operating income and profits, by applying the "new business models" (i.e. cost management concepts, concepts of customer rotation, concept of sustainable development). This also applies to more efficient management of human capital. The significant role of employees in creating the added value for insurance companies in the Republic of Serbia. To this purpose (in order to increase efficiency), significant attention should be paid to life insurance, which has recorded a significant growth, year after year.
Subjects: 
market share
profit per employee
strategic profit model
DEA model
JEL: 
C61
G22
L25
M41
Persistent Identifier of the first edition: 
Document Type: 
Article

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