Analysis of Insurance industry

I am trying to analyze the overall impact of a section of the insurance industry for lobbying purposes. The way I think I should do this is to enter the number of industry jobs as a negative number, and the value of the industry will pop out of the implan model. I believe Value added is similar units to GDP. I am confused, however, on the meaning of total output. Is this supposed to be total revenue of the industry? The raw number of direct total output for the insurance industry is significantly less than premiums collected=revenue. Are insurance premiums handled in a specific way? Thanks for your help! David
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  • Entering the employment will give you our estimate (which is based on government estimates) of the industry output. Output for the insurance industry is defined as the "expected" return over reimbursement. In other words, it is gross premium value minus the expected payout. The BEA used to try to estimate actual return but for the 2002 benchmark they redefined it to be the predicted return.
    0
  • Entering the employment will give you our estimate (which is based on government estimates) of the industry output. Output for the insurance industry is defined as the "expected" return over reimbursement. In other words, it is gross premium value minus the expected payout. The BEA used to try to estimate actual return but for the 2002 benchmark they redefined it to be the predicted return.
    0

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