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Application of combinational approach of FAHP and PROMETHEE in the insurance branches ranking

Author

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  • Mostafa Kazemi
  • Saeideh Farajzadeh Bardeji

Abstract

Nowadays, considering the importance of the insurance industry in the world of competitive economy, it seems necessary to study and determine its position among competitors. In order to study the position and situation of insurance companies, scientific methods are used. In this study, researchers have been tried to rank the branches of insurance by gathering data from 24 branches of Iran insurance. Gathered data is related to five indicators, branch manpower skill, general and administrative costs of branch, degree of branch, sales and wages. To rank these branches, the combination of fuzzy analytical hierarchy process (FAHP) and preference ranking organisation method for enrichment evaluation (PROMETHEE) methods is used; according to the results, the first and the last ranks have been obtained respectively by branches no. 23 and no. 22 among branches.

Suggested Citation

  • Mostafa Kazemi & Saeideh Farajzadeh Bardeji, 2016. "Application of combinational approach of FAHP and PROMETHEE in the insurance branches ranking," International Journal of Procurement Management, Inderscience Enterprises Ltd, vol. 9(5), pages 548-567.
    • Handle: RePEc:ids:ijpman:v:9:y:2016:i:5:p:548-567
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    Citations

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    Cited by:

    1. Shankha Shubhra Goswami & Dhiren Kumar Behera, 2021. "Evaluation of the best smartphone model in the market by integrating fuzzy-AHP and PROMETHEE decision-making approach," DECISION: Official Journal of the Indian Institute of Management Calcutta, Springer;Indian Institute of Management Calcutta, vol. 48(1), pages 71-96, March.
    2. Amelia Bilbao-Terol & Mar Arenas-Parra & Raquel Quiroga-García & Celia Bilbao-Terol, 2022. "An extended best–worst multiple reference point method: application in the assessment of non-life insurance companies," Operational Research, Springer, vol. 22(5), pages 5323-5362, November.

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