Evaluating the Creditworthiness of a Client in the Insurance Industry Using Adaptive Neuro-Fuzzy Inference System

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dc.contributor.authorDoskočil, Radekcs
dc.coverage.issue1cs
dc.coverage.volume28cs
dc.date.issued2017-02-28cs
dc.description.abstractThe article deals with the issue of a client´s creditworthiness assessment in the insurance industry. The article aims to identify new factors related to a client´s creditworthiness, and to create an assessment model. The factors which have relations to a client´s creditworthiness were identified in the first research stage. These factors represent the inputs into the model. The assessment model of the client´s creditworthiness was created in the second stage. In the third stage, the model was verified and implemented. The neuro-fuzzy method was used for creation, verification and implementation of the model. Five variables were selected as the inputs including damages, insurance length, insurance penetration, annual earnings and 2nd degree liquidity. These input variables were divided into two categories based on their nature (insurance indicators, accounting indicators). Research results show that the proposed model was verified above input data and can be used as a tool for supporting decisions concerning a client’s creditworthiness in the insurance industry. The main contribution of the paper is the identification of new factors which have relation to a client’s creditworthiness and the creation of the assessment model which works with these new factors transferred to fuzzy variables. The proposed model differs from the current approaches primarily thanks to its complex, systematic and hierarchical ability to evaluate the newly identified factors related to a client’s creditworthiness as fuzzy variables. Thanks to the model, it is possible to automate and accelerate the process of evaluation of a client’s creditworthiness in the insurance industry. The knowledge gained from the evaluation model is immediately possible to use in the strategic management of insurance companies e.g. in marketing activities.en
dc.description.abstractThe article deals with the issue of a client´s creditworthiness assessment in the insurance industry. The article aims to identify new factors related to a client´s creditworthiness, and to create an assessment model. The factors which have relations to a client´s creditworthiness were identified in the first research stage. These factors represent the inputs into the model. The assessment model of the client´s creditworthiness was created in the second stage. In the third stage, the model was verified and implemented. The neuro-fuzzy method was used for creation, verification and implementation of the model. Five variables were selected as the inputs including damages, insurance length, insurance penetration, annual earnings and 2nd degree liquidity. These input variables were divided into two categories based on their nature (insurance indicators, accounting indicators). Research results show that the proposed model was verified above input data and can be used as a tool for supporting decisions concerning a client’s creditworthiness in the insurance industry. The main contribution of the paper is the identification of new factors which have relation to a client’s creditworthiness and the creation of the assessment model which works with these new factors transferred to fuzzy variables. The proposed model differs from the current approaches primarily thanks to its complex, systematic and hierarchical ability to evaluate the newly identified factors related to a client’s creditworthiness as fuzzy variables. Thanks to the model, it is possible to automate and accelerate the process of evaluation of a client’s creditworthiness in the insurance industry. The knowledge gained from the evaluation model is immediately possible to use in the strategic management of insurance companies e.g. in marketing activities.en
dc.formattextcs
dc.format.extent15-24cs
dc.format.mimetypeapplication/pdfcs
dc.identifier.citationInzinerine Ekonomika-Engineering Economics. 2017, vol. 28, issue 1, p. 15-24.en
dc.identifier.doi10.5755/j01.ee.28.1.14194cs
dc.identifier.issn1392-2785cs
dc.identifier.orcid0000-0002-9716-1411cs
dc.identifier.other133715cs
dc.identifier.researcheridGLN-8159-2022cs
dc.identifier.scopus57191598634cs
dc.identifier.urihttp://hdl.handle.net/11012/201703
dc.language.isoencs
dc.publisherKaunas University of Technologycs
dc.relation.ispartofInzinerine Ekonomika-Engineering Economicscs
dc.relation.urihttp://inzeko.ktu.lt/index.php/EE/article/view/14194cs
dc.rightsCreative Commons Attribution 4.0 Internationalcs
dc.rights.accessopenAccesscs
dc.rights.sherpahttp://www.sherpa.ac.uk/romeo/issn/1392-2785/cs
dc.rights.urihttp://creativecommons.org/licenses/by/4.0/cs
dc.subjectInsurance Industryen
dc.subjectCreditworthinessen
dc.subjectDecision-Makingen
dc.subjectNeuro-Fuzzy Modelen
dc.subjectFuzzy Logicen
dc.subjectArtificial Neural Network.en
dc.subjectInsurance Industry
dc.subjectCreditworthiness
dc.subjectDecision-Making
dc.subjectNeuro-Fuzzy Model
dc.subjectFuzzy Logic
dc.subjectArtificial Neural Network.
dc.titleEvaluating the Creditworthiness of a Client in the Insurance Industry Using Adaptive Neuro-Fuzzy Inference Systemen
dc.title.alternativeEvaluating the Creditworthiness of a Client in the Insurance Industry Using Adaptive Neuro-Fuzzy Inference Systemen
dc.type.driverarticleen
dc.type.statusPeer-revieweden
dc.type.versionpublishedVersionen
sync.item.dbidVAV-133715en
sync.item.dbtypeVAVen
sync.item.insts2025.10.14 14:14:04en
sync.item.modts2025.10.14 10:14:33en
thesis.grantorVysoké učení technické v Brně. Fakulta podnikatelská. Ústav informatikycs
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