A new insurance evaluation system based on Analytic Hierarchy Process and Delphi method under natural disasters
DOI:
https://doi.org/10.54097/ssvpgq64Keywords:
Analytic Hierarchy Process, Delphi method, new insurance evaluation system, Natural disasters.Abstract
Overall, it is crucial for insurance companies to develop a new insurance model that can effectively handle natural disaster-related compensation. Firstly, in this paper, data related to the losses caused by natural disasters in countries around the world are collected and pre-processed. Secondly, a new insurance evaluation system under natural disasters is established by using Analytic Hierarchy Process and Delphi method. Through the analysis, it is concluded that when the risk factors exceed the threshold, the insurance company should bear the relevant risks. Then, this study analyzes various customer behaviors when insurance companies face the influence of decision. Eventually, in order to propose the final insurance model and improve the accuracy of the new insurance evaluation system, natural disaster data from 146 countries in 2022 were selected. In addition, 35 factor variables related to natural disasters were added to improve the accuracy of parameters estimated by regression equations, resulting in an optimal goodness of fit of 0.99. Through the establishment of a new insurance evaluation system, this paper can provide theoretical support and technical reference for the government to manage the insurance market under natural disasters in a more efficient and effective way.
Downloads
References
Sun Rong. Actively exploring insurance risk securitization in response to climate change [N]. The financial times, 2024 - 01 - 17 (012).
Guo Qing. Improving the risk management and risk reduction ability of insurance companies [J]. Financial Expo, 2023 (12): 13 - 15. Amjady N. Short-term hourly load forecasting using time series modeling with peak load estimation capability [J]. IEEE Transactions on Power Systems, 2001, 16 (4): 798 - 805.
Liu Yanchunzi. Insurance company how to better climate risk management [N]. The financial times, 2023 - 08 - 15 (008).
ZENG X Y. Research on financial innovation path of Agricultural weather risk management [D]. Huazhong Agricultural University, 2013. (in Chinese).
Xie Shiqing, Mei Yunyun. Operational mechanism and actuarial pricing of weather derivatives [J]. Theory and Practice of Finance and Economics, 2011, 32 (06): 39 - 43. (in Chinese).
Feng Wenli, Yang Mei. Weather index insurance: agricultural catastrophe risk management tool innovation [J]. Journal of finance and economy, 2011, (6): 92 - 95.
Niu Na. Research on pricing and risk management of weather insurance and weather derivatives based on big data [D]. Yanbian University, 2020.
Zhong Denghua, Risk analysis method of engineering project based on AHP. Tianjin, Tianjin University, 2004 - 12 - 15.
Yuan Yunli. Research on risk management of construction projects based on Fuzzy Analytic Hierarchy Process (FAHP) [D]. Chongqing University, 2014.
Deng F. Using Delphi Method to construct mental health legislation evaluation index framework [D]. Central South University, 2015.
Wang Chunzhi, Si Qin. Delphi method in the data processing method and its application study [J]. Journal of Inner Mongolia institute of finance and economics (comprehensive edition), 2011, 9 (4): 92 - 96.
Fu Lingrui, Gan Lu. Natural disaster insurance evaluation [J]. Chinese and Foreign Entrepreneurs,2014, (14): 34.
Downloads
Published
Issue
Section
License
Copyright (c) 2024 Highlights in Science, Engineering and Technology
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
