Assessing the performance of branches of an insurance company using the integrated approach of balanced scorecard and fuzzy MADM techniques

Motameni, A.R.; Fattahi, V.; Karimi, S.M.

doi:10.22056/ijir.2012.01.03

Document Type : Original Research Paper

Authors

¹ Department of Management, Shahid Beheshti University, Tehran, Iran

² Department of Management, Mazandaran University, Mazandaran, Iran

https://doi.org/10.22056/ijir.2012.01.03

Abstract

Insurance companies must have a successful performance in fulfilling their goals. It is very important for managers and organizations to know to what extent the organization's performance is in the direction of achieving these goals and where the organization's position is in today's complex and dynamic environment. In this regard, it is necessary to have a model to evaluate the performance of the organization.

This article presents a method to evaluate the branch performance of one of the insurance companies in Iran using the combination of fuzzy multi-criteria decision making and balanced scorecard. At first, with the opinion of experts and also with the study of the research background, the indicators related to the evaluation of the performance of insurance companies were collected, and then with the opinion of the insurance industry experts, 23 key indicators were considered for insurance branches. In addition, the relative weights of indicators and criteria were calculated using the opinion of experts and through fuzzy hierarchical analysis. Then, using the VIKOR technique, the investigated branches were ranked. By analyzing the obtained results, the weaknesses and strengths of each branch were identified. The results showed that the financial perspective from the customer's point of view is the most important criterion in the growth of branches, and the index of issuing insurance premiums plays an essential role in the growth of insurance branches. In the end, the presented methodology has been compared with similar common methods and its use has been recommended to insurance companies.

Keywords

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Iranian Journal of Insurance Research

Assessing the performance of branches of an insurance company using the integrated approach of balanced scorecard and fuzzy MADM techniques

Letters to Editor

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Volume 1, Issue 1 - Serial Number 1
January 2012
Pages 27-39

Assessing the performance of branches of an insurance company using the integrated approach of balanced scorecard and fuzzy MADM techniques

Letters to Editor

Send comment about this article

Volume 1, Issue 1 - Serial Number 1January 2012Pages 27-39

Volume 1, Issue 1 - Serial Number 1
January 2012
Pages 27-39