Original scientific paper
https://doi.org/10.1080/1331677X.2017.1305786
Analysis of the efficiency of insurance companies in Serbia using the fuzzy AHP and TOPSIS methods
Ksenija Mandić
Boris Delibašić
Snežana Knežević
Sladjana Benković
Abstract
The aim of this study is to propose a fuzzy multi-criteria model that
will facilitate the assessment of insurance companies’ efficiency. This
study includes all companies operating within the insurance sector in
Serbia in the period from 2007 to 2014 and the data were used from
the published financial statements of insurance companies. Five key
indicators were identified for the assessment and rating of insurance
companies. Fuzzy Analytic Hierarchy Process (FAHP) and Technique for
Order Performance by Similarity to Ideal Solution (TOPSIS) were used
for building the proposed model. In the first stage, priority weights of
criteria were defined by using the FAHP, while in the second phase the
insurance companies were ranked using the TOPSIS method.
Keywords
Insurance companies; Financial performances; Fuzzy logic; Multi-criteria decision-making methods; FAHP; TOPSIS
Hrčak ID:
180891
URI
Publication date:
1.12.2017.
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