The life insurance sector suffers from the problem of policy lapsation which is an undesirable output in the context of this sector. The present paper makes a humble attempt to integrate lapsation risk in the context of efficiency analysis of the Indian life insurance sector for the period...

The paper compares 15 life insurance companies operating in India for 2005-06 to 2008-09 using the old and new revenue maximizing approach. The difference between the two approaches lies in the specification of the production possibility set. In both the approaches, only the Life Insurance...