Decision-making processes of non-life insurance pricing using fuzzy logic and OWA operators

Setting a commercial premium for an insurance policy is a complex process, even, though statistical tools provide fairly reliable information on the behavior of the frequency and cost of claims differentiated by risk profiles reflected in pure premium calculations. However lately setting the price t...

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Detalhes bibliográficos
Autores: Casanovas Ramón, Montserrat, Torres Martínez, Agustín, Merigó Lindahl, José M.
Formato: artículo
Estado:Versión publicada
Fecha de publicación:2015
País:España
Recursos:Universidad de Barcelona
Repositorio:Dipòsit Digital de la UB
OAI Identifier:oai:diposit.ub.edu:2445/126104
Acesso em linha:https://hdl.handle.net/2445/126104
Access Level:acceso abierto
Palavra-chave:Reassegurances
Teoria d'operadors
Lògica borrosa
Presa de decisions (Estadística)
Reinsurance
Operator theory
Fuzzy logic
Statistical decision
Descrição
Resumo:Setting a commercial premium for an insurance policy is a complex process, even, though statistical tools provide fairly reliable information on the behavior of the frequency and cost of claims differentiated by risk profiles reflected in pure premium calculations. However lately setting the price the customer must pay has not been easy, because of the uncertainty of, having to use subjective criteria to analyze how demand may be affected by different price alternatives and economic situations. This article aims to develop this process in two stages. The first stage is carried out with the opinion of experts applied to uncertain numbers and Ordered Weighted Average (OWA) operators to assess the overall benefits of each profile to choose the best alternative. The second stage, which uses Heavy OWA (HOWA) operators, is based on the results obtained in the first stage and chooses a general price alternative for all profiles.