Multi-criteria decision-making model for evaluation of financial performance of insurance companies

Strategic decision-making processes are crucial for organizations' long-term planning. Multi-criteria decision-making models are frequently utilized in these processes. It is critical for organizations to make the best use of available resources to enhance their efficiency. Data envelopment analysis is used to examine how effectively resources are utilized. The insurance sector, due to its competitive nature, is one of the areas where optimizing resource usage and efficiency are most essential. This study aims to examine the efficiency of life insurance companies operating in Türkiye from 2014 to 2022 using a Window DEA approach. The analysis revealed that company performances were not stable, with high fluctuations observed. Throughout the examined years, there was no decision-making unit that was efficient in all aspects of technical, purely technical, and scale efficiency.