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The special issue related to risk management and insurance chooses six articles from
twenty-seven papers that were presented in the 2015 annual conference of Taiwan Risk and
Insurance Association. The acceptance rate is 0.185. In fact, to maintain the low acceptance
rate, submitted papers are assessed strictly and only few are elected.
In this issue, we accept two papers which integrate marketing and insurance research.
The following two papers examine the impact of marketing channels in automobile and life
insurance markets: “Do Insurance Brokers or Agents Provide Superior Claim Service
Quality? Evidence on Automobile Liability Insurance in Taiwan”, written by Liu, Wu and
Chiang (2017), and “Effect of Competitors’ Activities on the Bancassurance Strategy of Life
Insurers: Competitive Dynamics Perspective”, written by Peng, Wei, and Chen (2017).
Moreover, both of them successfully employ Taiwanese data to test their hypotheses.
Personally, I think that it will be fruitful in the future studies to study the role of marketing
channels in insurance markets which have been so important and relatively overlooked in the
literature.
The other two accepted papers are related to actuarial science which is a classical topic
in insurance. “Analysis of the Risk Effects of the Product Design of Long-Term Care
Insurance” written by Wang, Chiu, Hsieh, and Chen (2017) investigates the risk effect of the
product design, while “The Valuation of Lifetime Cancer Insurance Policies” written by
Huang, Yang, and Wang (2017) focuses on valuation. Actuarial science has been well-
developed in Taiwan for the past two decades.
In this issue, we also accept two empirical papers related to corporate finance. “CEO
Turnover and Reinsurance Demand in the U.S. Property Casualty Insurance Industry”
written by Ho (2017), and “The Impact of Concentration and Efficiency on Market
Introduction to Special Issue
Risk Management and Insurance
Guest Editors
Larry Y. Tzeng
, Professor, Department of Finance, National Taiwan University
Sheng-Syan Chen
, Professor, Department of Finance, National Taiwan University