This study evaluates the business performance and the relative management
efficiency of the online property insurance company using the financial ratio analysis and data envelopment analysis, measuring the changes in the productivity by the Malmquist Production Index. As a result of financial ratio analysis, the companies were maintaining adequate capital level, asset composition, and liquidity and were evaluated as having a healthy financial structure. The loss ratio, which is a representative index for profitability, was below average, and the increase in the operating profit and net profit, which represents the quality of growth, was poor except for B. There were some differences in the return on the operating assets, ROA and ROE among the
insurance companies, but the quantitative growth was at a high level overall, and the operating ratios were evaluated as satisfactory. The study selected two injection and yield factors and measured the relative efficiency. The results showed that among four online insurance companies, only one company turned out to be efficient and the other three were inefficient. Also, according to the measurement of the productivity change by the Malmquist index, the productivity of the online insurance companies was decreasing over time. Therefore, the online property insurance companies are in the desperate situation to improve the management efficiency and the productivity instead of focusing on the quantitative growth.