Intermediation and matching in insurance markets

Schiller, Jörg; Focht, Uwe; Richter, Andreas

Intermediation and matching in insurance markets

dc.contributor.author	Schiller, Jörg	de
dc.contributor.author	Focht, Uwe	de
dc.contributor.author	Richter, Andreas	de
dc.date.accessioned	2024-04-08T08:42:31Z
dc.date.available	2024-04-08T08:42:31Z
dc.date.created	2009-06-22
dc.date.issued	2009
dc.description.abstract	This paper addresses the role of independent insurance intermediaries in markets where matching is important. A controversial matter in the discussion concerning insurance intermediation is the issue of compensation customs and how the latter affect prices, rents and advice quality in insurance markets. This work compares a fee-based with a commission-based system. We show that in a situation with a non-strategic intermediary both remuneration systems are payoff-equivalent. In a second step, allowing for strategic behavior, we discuss the impact of remuneration on the quality of advice. The analysis shows that the possibility of mismatching can provide the intermediary with substantial market power which however does not translate into mismatching as long as consumers have rational expectations. We o¤er a rationale for the use of contingent commissions. In addition, this paper addresses whether or not the recent ban of any commission payments as introduced in countries such as Denmark and Finland is an appropriate market intervention.	en
dc.identifier.swb	307723518
dc.identifier.uri	https://hohpublica.uni-hohenheim.de/handle/123456789/5255
dc.identifier.urn	urn:nbn:de:bsz:100-opus-3650
dc.language.iso	eng
dc.relation.ispartofseries	FZID discussion papers; 04
dc.rights.license	publ-ohne-pod	en
dc.rights.license	publ-ohne-pod	de
dc.rights.uri	http://opus.uni-hohenheim.de/doku/lic_ubh.php
dc.subject.ddc	330
dc.subject.gnd	Versicherungsmarkt	de
dc.title	Intermediation and matching in insurance markets	de
dc.type.dcmi	Text	de
dc.type.dini	WorkingPaper	de
local.access	uneingeschränkter Zugriff	en
local.access	uneingeschränkter Zugriff	de
local.bibliographicCitation.publisherPlace	Universität Hohenheim	de
local.export.bibtex	@techreport{Schiller2009, url = {https://hohpublica.uni-hohenheim.de/handle/123456789/5255}, author = {Schiller, Jörg and Focht, Uwe and Richter, Andreas et al.}, title = {Intermediation and matching in insurance markets}, year = {2009}, school = {Universität Hohenheim}, series = {FZID discussion papers}, }
local.export.bibtexAuthor	Schiller, Jörg and Focht, Uwe and Richter, Andreas et al.
local.export.bibtexKey	Schiller2009
local.export.bibtexType	@techreport
local.faculty.number	3	de
local.faculty.number	7	de
local.institute.number	530alt	de
local.institute.number	795	de
local.opus.number	365
local.series.issueNumber	04
local.series.title	FZID discussion papers
local.university	Universität Hohenheim	de
local.university.faculty	Fakultät Wirtschafts- und Sozialwissenschaften	de
local.university.faculty	Landesanstalten	de
local.university.institute	Institut für Haushalts- und Konsumökonomik (bis 2010)	de
local.university.institute	Forschungszentrum Innovation und Dienstleistung	de

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FZID discussion papers

Intermediation and matching in insurance markets

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