Evaluating the Creditworthiness of a Client in the Insurance Industry Using Adaptive Neuro-Fuzzy Inference System

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216305%3A26510%2F17%3APU122936" target="_blank" >RIV/00216305:26510/17:PU122936 - isvavai.cz</a>

Výsledek na webu

<a href="http://inzeko.ktu.lt/index.php/EE/article/view/14194" target="_blank" >http://inzeko.ktu.lt/index.php/EE/article/view/14194</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.5755/j01.ee.28.1.14194" target="_blank" >10.5755/j01.ee.28.1.14194</a>

Jazyk výsledku

angličtina

Název v původním jazyce

Evaluating the Creditworthiness of a Client in the Insurance Industry Using Adaptive Neuro-Fuzzy Inference System

Popis výsledku v původním jazyce

The article deals with the issue of a client´s creditworthiness assessment in the insurance industry. The article aims to identify new factors related to a client´s creditworthiness, and to create an assessment model. The factors which have relations to a client´s creditworthiness were identified in the first research stage. These factors represent the inputs into the model. The assessment model of the client´s creditworthiness was created in the second stage. In the third stage, the model was verified and implemented. The neuro-fuzzy method was used for creation, verification and implementation of the model. Five variables were selected as the inputs including damages, insurance length, insurance penetration, annual earnings and 2nd degree liquidity. These input variables were divided into two categories based on their nature (insurance indicators, accounting indicators). Research results show that the proposed model was verified above input data and can be used as a tool for supporting decisions concerning a client’s creditworthiness in the insurance industry. The main contribution of the paper is the identification of new factors which have relation to a client’s creditworthiness and the creation of the assessment model which works with these new factors transferred to fuzzy variables. The proposed model differs from the current approaches primarily thanks to its complex, systematic and hierarchical ability to evaluate the newly identified factors related to a client’s creditworthiness as fuzzy variables. Thanks to the model, it is possible to automate and accelerate the process of evaluation of a client’s creditworthiness in the insurance industry. The knowledge gained from the evaluation model is immediately possible to use in the strategic management of insurance companies e.g. in marketing activities.

Název v anglickém jazyce

Evaluating the Creditworthiness of a Client in the Insurance Industry Using Adaptive Neuro-Fuzzy Inference System

Popis výsledku anglicky

The article deals with the issue of a client´s creditworthiness assessment in the insurance industry. The article aims to identify new factors related to a client´s creditworthiness, and to create an assessment model. The factors which have relations to a client´s creditworthiness were identified in the first research stage. These factors represent the inputs into the model. The assessment model of the client´s creditworthiness was created in the second stage. In the third stage, the model was verified and implemented. The neuro-fuzzy method was used for creation, verification and implementation of the model. Five variables were selected as the inputs including damages, insurance length, insurance penetration, annual earnings and 2nd degree liquidity. These input variables were divided into two categories based on their nature (insurance indicators, accounting indicators). Research results show that the proposed model was verified above input data and can be used as a tool for supporting decisions concerning a client’s creditworthiness in the insurance industry. The main contribution of the paper is the identification of new factors which have relation to a client’s creditworthiness and the creation of the assessment model which works with these new factors transferred to fuzzy variables. The proposed model differs from the current approaches primarily thanks to its complex, systematic and hierarchical ability to evaluate the newly identified factors related to a client’s creditworthiness as fuzzy variables. Thanks to the model, it is possible to automate and accelerate the process of evaluation of a client’s creditworthiness in the insurance industry. The knowledge gained from the evaluation model is immediately possible to use in the strategic management of insurance companies e.g. in marketing activities.

Druh

J_imp - Článek v periodiku v databázi Web of Science

CEP obor

—

OECD FORD obor

50202 - Applied Economics, Econometrics

Projekt

—

Návaznosti

S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2017

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název periodika

Engineering Economics

ISSN

1392-2785

e-ISSN

2029-5839

Svazek periodika

28

Číslo periodika v rámci svazku

1

Stát vydavatele periodika

LT - Litevská republika

Počet stran výsledku

10

Strana od-do

15-24

Kód UT WoS článku

000396637100002

EID výsledku v databázi Scopus

2-s2.0-85014774755