Friday 3 May 2019

Insurance Intermediation: An Economic Analysis of the Information Services Market

Insurance Intermediation: An Economic Analysis of the Information Services Market by Martina Eckardt


1 Intermediaries in the Insurance Market 

  • Incompletely Informed Consumers in Personal Insurance Markets
  • Net Gains from Trade through Intermediated Exchange 
  • Insurance Market Microstructure 
2 An Economic Explanation of Insurance Intermediation 

  • The Basic Model of Information Intermediation 
  • Personal Search versus Intermediated Search 
  • Comparative-Static Analysis 
  • Market Conduct and Performance 
  • Search Theoretical Model of Insurance Intermediation 
  • Insurance Intermediaries in the Basic Intermediation Model
  • Comparative-Static Analysis under Symmetric Information 
  • Comparative-Static Analysis under Asymmetric Information 
  • Oligopolistic Competition in the Market for Insurance Intermediaries 
  • Insurance Agents and Brokers in the Insurance Intermediation Model 

3 Competition between Insurance Intermediaries 

  • Monopolistic Competition and Horizontal Product Differentiation 
  • The Extent of Horizontal Product Differentiation under Monopolistic Competition 
  • Market Conduct: Incentives to Increase Product
  • Differentiation and/ or to Reduce Fixed Costs 
  • Incomplete Information and Costly Search 
  • A Basic Model of Price-Quality Dispersion 
  • Differences in Consumers’ Information and Market Outcome 
  • Asymmetric Information, Market Conduct and the Market
  • Microstructure 
  • Asymmetric Information and Information Quality 
  • Asymmetric Information and Signaling Incentives of Intermediaries
  • Insurance Companies’ Choice of Distribution Channels and Information Quality 
  • Competition from Outside Intermediaries 

4 The Market for Insurance Intermediation in Germany 

  • Overview of the Empirical Literature 
  • Hypotheses, Data and Estimation Methods 
  • Data and Estimation Methods 
  • Empirical Results and Discussion 
  • Performance Indicator I: Information Quality 
  • Performance Indicator II: Contract Conclusion Rate 

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