Insurance studies are popular among researchers and there are different studies across the world that has looked into different aspects of the industry. An idea of the researches already undertaken is highlighted as follows.
The studies on factor productivity growth using Malmquist index has been quite popular among researchers. Some of the research papers that applied the measure include those of Asai et. al. (2007), Barros et al. (2005), Chen et al. (2007), Kamau (2011), Mahmood et al. (2008) and Saad (2012).
However, a few researchers, viz. Arjomandi et al. (2011) and Balcombe et al. applied the bootstrapping procedure in the case of productivity growth measurement which used an iteration technique to arrive at the results.