보험계약자의 행동적 반응에 근거한 생명보험 서비스 평가

The insurance service consists of the ex ante indemnity service, ex post indemnity service and the other services from an insurer. In Korea, the indemnity services are officially evaluated, but the evaluation of the other insurance services is not sufficient. This paper attempted to evaluate the other services of the Korean life insurers based upon the behavioral responses of the insured, especially persistency and surrender. According to the evaluation using persistency rate calculated based upon the insured amount, there is no difference between large companies and small companies, and foreign-capital-companies are better than domestic-capital-companies. On the other hand, the evaluation using surrender ratio calculated based upon the number of insurance contracts shows that small companies are better than large companies, and there is no difference between domestic-capital-companies and foreign-capital-companies. Besides, the evaluation using surrender ratio considering the diminished contracts due to the other reason, for example expiration, large companies are better than small companies, and domestic-capital-companies are better than foreign-capital-companies. These results imply that small companies and foreign capital companies are overestimated and large companies and domestic capital companies are underestimated by the current persistency rate and surrender ratio calculated based upon the insured amount.