Analysis of the result of privatization in Asia, Alborz & Dana insurance company based on performance evaluation

Subject Areas : مدیریت

Amir Mohammadzadeh ¹ ( Associate Professor, Department of Management, Qazvin Branch, Islamic Azad University, Qazvin, Iran )
Naser Hamidi ² ( Associate Professor, Department of Management, Qazvin Branch, Islamic Azad University, Qazvin, Iran )
Monire Alipour ³ ( M.A., Department of Management, Qazvin Branch, Islamic Azad University, Qazvin, Iran (Correspondence Officer) )

Received: 2020-10-19 Accepted : 2020-10-19 Published : 2019-02-20

Keywords: "privatization", "performance evaluation", "balanced score card", "TOPSIS",

Abstract :

In recent years, Iran has witnessed transferring of some economic parts to private sector. One of the industries that treaded into privatization field in the last few years, is the insurance industry. Privatization began in 2009 by transferring ownership of public insurance companies based on the act passed to define method of executing general policies of principle 44 of constitution and on this basis, Alborz Insurance Company, Asia Insurance Company and Dana Insurance Company one after the other transferred their stocks to private sector. This research aims at studying condition of these companies after privatization to assess the outcomes of such transfer. For this purpose, first, based on balanced scorecard, performance assessment indicators of insurance companies were identified and divided into two qualitative and quantitative groups from the viewpoints of finance, market, customer, internal processes, growth and learning. Next, from Asia and Alborz Insurance Companies, data pertaining to two period of times before and after privatization were collected and from Dana Insurance Company, data pertaining to one period of time before and after privatization were collected. Data were next analyzed using TOPSIS technique. Analysis of quantitative data showed that performance of Alborz Insurance Company proved to be better prior to privatization, while Dana and Asia Insurance Companies showed an improvement in performance after privatization.