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Evaluation of the branches of Iran Insurance Corporation based on data envelopment analysis-free disposal hull in the presence of weight restrictions

Author

Listed:
  • Hossein Safari
  • Abdol Hossein Jafarzadeh
  • Mohammad Reza Fathi

Abstract

This study reviews the concepts of performance evaluation in the insurance industry based on data envelopment analysis. In this study to deal with the problems that exists in conventional DEA model, a new DEA model is introduced and applied based on FDH and weight restrictions to evaluate Insurance Corporation' branches. In this study, non-parametric frontier technologies for data analysis are mainly discussed. It combines several models with non-parametric frontier technology to suggest a new model for analysing the data. This paper is based on a combination of the two frontier technology, DEA and free disposal hull. As it is mainly based on DEA and benchmarking based on DEA. The proposed method was successfully conducted in a case study about Iran Insurance Corporation; secondly, the paper depicts the insurance company evaluation process through a DEA model, while allowing for incorporating the preferences of decision maker. According to result, 26 branches are efficient and achieved efficiency score is equal to 1.

Suggested Citation

  • Hossein Safari & Abdol Hossein Jafarzadeh & Mohammad Reza Fathi, 2020. "Evaluation of the branches of Iran Insurance Corporation based on data envelopment analysis-free disposal hull in the presence of weight restrictions," International Journal of Mathematics in Operational Research, Inderscience Enterprises Ltd, vol. 16(2), pages 202-216.
    • Handle: RePEc:ids:ijmore:v:16:y:2020:i:2:p:202-216
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