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Ontology based Approach for an Insurance Company Activity Modelling

Author

Listed:
  • Aurelia Pãtraºcu

    (Faculty of Economic Sciences, Petroleum-Gas University of Ploieºti, Romania)

Abstract

By their operations variety, insurance companies are faced with a large amount of data, taking into account that an insurance type allows to cover several risks types. Also, the same risk type can be the subject to several insurance types. The risk notion is specific to the insurance domain and the insurance risk significances are varied. Ontology is a formal, explicit specification of the terms and defines a common vocabulary for researchers who need to communicate information in a certain field. This paper aims to create an OWL ontology for modelling the activity of an insurance company, providing a solid basis to apply knowledge in the general insurances domain, by defining a set of representation terms for risks, in order for the big insurance companies to discover new information relating to the interaction between risks, to form an overview of the external and internal risk factors to which an insurer is subjected to

Suggested Citation

  • Aurelia Pãtraºcu, 2016. "Ontology based Approach for an Insurance Company Activity Modelling," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 81-85, July.
    • Handle: RePEc:ovi:oviste:v:xvi:y:2016:i:1:p:81-85
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    More about this item

    Keywords

    OWL ontology; Protégé ontology editor; insurance policy; types of risk;
    All these keywords.

    JEL classification:

    • C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques
    • C81 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Microeconomic Data; Data Access

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