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Paying for expertise the effect of experience

Recurso electrónico / Electronic resource
Registro MARC
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100  ‎$0‎MAPA20210032752‎$a‎Anand, Vaibhav
24510‎$a‎Paying for expertise‎$b‎the effect of experience‎$c‎Vaibhav Anand, James Tyler Leverty, Kenny Wunder
520  ‎$a‎This paper investigates whether corporations purchase insurance for the real services that insurers provide. We examine the real-service efficiency hypothesis in the insurance industry by exploiting within firm-year variation in reinsurance usage and experience at the line of business level. Our results show that insurers purchase reinsurance to access reinsurers' expertise and specialized knowledge. We find that, within the same year, the average multi-line insurer purchases 2.4%-3.3% points more reinsurance for new lines relative to existing lines. The demand for reinsurance declines by 0.55%-0.80% points with each additional year of experience. The size of these effects differs by the line of business, indicating that the development of internal expertise and specialized knowledge varies by line.
650 4‎$0‎MAPA20080590567‎$a‎Empresas de seguros
650 4‎$0‎MAPA20080552367‎$a‎Reaseguro
650 4‎$0‎MAPA20080591182‎$a‎Gerencia de riesgos
650 4‎$0‎MAPA20160004144‎$a‎Experiencia
7001 ‎$0‎MAPA20210032790‎$a‎Tyler Leverty, James
7001 ‎$0‎MAPA20210032806‎$a‎Wunder, Kenny
7730 ‎$w‎MAP20077000727‎$t‎The Journal of risk and insurance‎$d‎Nueva York : The American Risk and Insurance Association, 1964-‎$x‎0022-4367‎$g‎01/09/2021 Volumen 88 Número 3 - septiembre 2021 , p. 727-756
856  ‎$y‎MÁS INFORMACIÓN‎$u‎mailto:centrodocumentacion@fundacionmapfre.org?subject=Consulta%20de%20una%20publicaci%C3%B3n%20&body=Necesito%20m%C3%A1s%20informaci%C3%B3n%20sobre%20este%20documento%3A%0A%0A%5Banote%20el%20titulo%20completo%20del%20documento%20del%20que%20desea%20informaci%C3%B3n%5D%0A%0AGracias