Empowering customers to purchase insurance portfolios based on artificial intelligence
محورهای موضوعی : Data Envelopment Analysisبهمن بابازاده بلوچی 1 , Farzin Farahbod 2
1 - دانشگاه آزاد اسلامی
2 - دانشگاه آزاد اسلامی
کلید واژه: portfolio purchase, insurers' investment, artificial intelligence,
چکیده مقاله :
The main goal of this research is to design a model for empowering customers to purchase insurance portfolios based on artificial intelligence. The research method used is objective, applied, and descriptive-survey in terms of the method of collecting field data and in terms of the control of variables, and also because of the presentation of the model, it is an exploratory research. In this research, the insurance assets purchased by insurers in the insurance industry were first identified by reviewing previous researches. In the second step, by using the Delphi method, the determination and weighting of insurance assets in the portfolios of insurers was discussed with the help of experts in the field. In the following, according to the available documents and information collected using artificial neural network, a suitable model was designed for the purchase of insurers' portfolios in the insurance industry. The findings showed that the amount of sales of cooperative insurance customers, as well as the highest sales amount and at what point of time. Also, it is possible to identify the best-selling and profitable products and the customers from whom the most profits of the cooperative insurance customers have been obtained, and apply the necessary policies in the desired cooperative insurance.
The main goal of this research is to design a model for empowering customers to purchase insurance portfolios based on artificial intelligence. The research method used is objective, applied, and descriptive-survey in terms of the method of collecting field data and in terms of the control of variables, and also because of the presentation of the model, it is an exploratory research. In this research, the insurance assets purchased by insurers in the insurance industry were first identified by reviewing previous researches. In the second step, by using the Delphi method, the determination and weighting of insurance assets in the portfolios of insurers was discussed with the help of experts in the field. In the following, according to the available documents and information collected using artificial neural network, a suitable model was designed for the purchase of insurers' portfolios in the insurance industry. The findings showed that the amount of sales of cooperative insurance customers, as well as the highest sales amount and at what point of time. Also, it is possible to identify the best-selling and profitable products and the customers from whom the most profits of the cooperative insurance customers have been obtained, and apply the necessary policies in the desired cooperative insurance.
• • Abbasi, E., & Tamoradi, A. (2020). The Effect of Investors Myopic on Earnings Management and Companies Investment. Accounting and Auditing Review, 27(3), 410-428.
• Alzoubi, S. Almaliki, F. Mirzaei.(2019). Prediction of environmental indicators in land leveling using artificial intelligence techniques Chem. Biol. Technol. Agric.
• Ameur H.Ben & Prigent J.-L.(2018). Risk management of time varying floors for dynamic portfolio insurance. European Journal of Operational Research, https ://doi .org/10.1016/j.ejor.2018.01.041
• Angrisani Marco, AtellaVincenzo, Brunetti Marianna.(2018). Public health insurance and household portfolio Choices: Unravelling financial “Side Effects” of Medicare. Journal of Banking & Finance. https://doi.org/10.1016/ j.jbankfin .2018 .05 .001.
• Bodnar Taras, Mathias Lindholm, Vilhelm Niklasson, Thorsén Erik.(2022).Bayesian portfolio selection using VaR and CVaR.Applied Mathematics and Computation. 7(7): 45-65.
• Ceylan Ozgan.(2020), Time-Varying Risk Aversion and its Macroeconomic and Financial Determinants A Comparative Analysis in the U.S. and French Financial Markets, Finance Research Letters,15(20), 1- 27.
• Chen Li, Lin Luyao, Lu Yi , Parker Gary.(2017). Analysis of survivorship life insurance portfolios with stochastic rates of return. Insurance: Mathematics and Economics, https://doi.org/10.1016/j.insmatheco.2017.04.001
• Cornell, B., Landsman, W., & Stubben, S. (2017). Accounting information, investor sentiment and market pricing. Journal of Law, Finance, and Accounting, 2 (2), 325-345.
• Dong Yinghui & Zheng Harry.(2019). Optimal investment of DC pension plan under short-selling constraints and portfolio insurance, Insurance: Mathematics and Economics, https://www.sciencedirect.com /science /article/ abs/ pii/ S016766871 8303755.
• Girardi Giulio, W.Hanley Kathleen, Nikolova Stanislava, PelizzonLoriana, Sherman Mila Getmansky.(2021). Portfolio similarity and asset liquidation in the insurance industry. 77(8): 46-65.
• Katsikis Vasilios N. , Mourtas Spyridon D. , Stanimirović Predrag S.Cao Shuai Li Xinwei .(2021). Portfolio similarity and asset liquidation in the insurance industry. Journal of Financial Economics, https://www.sciencedirect.com /science /article /abs/pii /S0304405X 21002440.
• Luan Fei, guo Wei, Yon Zhang, Liug jun.(2022). Robust international portfolio optimization with worst‐case mean‐CVaR. European Journal of Operational Research. https://doi.org/10.1016/j.ejor.2022.03.011.
• Luo, Y. & Zhang, C. (2020). Economic policy uncertainty and stock price crash risk. Research in International Business and Finance, 51, 101112.
• Meloni Carlo, Pranzo Marco, Samà Marcella.(2022). Evaluation of VaR and CVaR for the makespan in interval valued blocking job shops. International Journal of Production Economics. 5(5): 38-58.
• MuYun fei, WangCongshan, Cao Yan, ia Hong jie J, ZhangQing zhu, YuXiaodan.(2022).A CVaR-based risk assessment method for park-level integrated energy system considering the uncertainties and correlation of energy prices. Energy, https://doi.org/10.1016/j.energy.2022.123549.
• Racicot François-Éric, Théoret Raymond & Greg Gregoriou.(2021). The response of hedge fund higher moment risk to macroeconomic and illiquidity shocks, International Review of Economics & Finance,14(26), 289 – 318.
• Romaniuk Katarzyna.(2021).Pension insurance schemes and moral hazard: The Pension Benefit Guaranty Corporation should restrict the insured pension plans’ portfolio policy.The Quarterly Review of Economics and Finance .https://www.sciencedirect.com /science /article /abs/pii/S1062976921001150.
• Yavas Cigdem Vural.(2020). Corporate risk-taking in developed countries: The influence of economic policy uncertainty and macroeconomic conditions, Journal of Multinational Financial Management,54(124),17-41.
• Badavar Nahandi Younes and Kader Babaei (2018). The relationship between the comparability of financial statements and the risk of falling stock prices with an emphasis on the role of information asymmetry. Applied research in financial reporting, 8(14), 206-173.
• Jalilian, Negar; Zanjichi, Seyyed Mahmoud and Naser Sadrabadi, Alireza, 2019, liquidity risk management and customer participation in providing bank liquidity, Scientific Journal of Business Management Explorations, Year 12, Number 23, Spring and Summer 2019, pp. 125-146
• Hijazi, Rizvan; Farhadi, Hamid; Veisi Hisar, Soraya, 2018, examining the relationship between profit management and investment inefficiency: confirming the role of agency costs, Accounting Research Quarterly, Fall 2018 - No. 34, pp. 29-53
• Darabi, Roya, 2019, the ability to explain stock returns by unusual fluctuations (unsystematic risk), Journal of Accounting and Auditing Research. 5(4): 147-170
• Maghala, Fatemeh; Badavar Nahandi, Younes. (2018). The effect of effective tax rate on capital structure, investment decisions and stock dividends, Journal of Accounting and Auditing Research, Summer 2018-42: 193-210.
• Shekarkhah, Javad; Tamandeh, Seyed Hamid. (2019). Investigating the impact of past market values on investment decisions and changes in cumulative leverage of companies from the perspective of market timing theory, Journal of Financial Accounting Empirical Studies, Spring 2019 - No. 65, pp. 61-83.
• Aini, Arash; Hamdam, Hadi; Qadimpour, Javad. (2018). The impact of environmental uncertainty on the investment decisions of companies listed on the Tehran Stock Exchange, Accounting and Management Perspective Quarterly. 2(9): 49-61
• Fathi Sahar and Farhad Ghaffari. (2019). Dependency structure and portfolio risk in the foreign exchange market in Iran with the GARCH-EVT-COPULA method. Financial Engineering and Securities Management Quarterly, 11(42), 302-332.
• Mohammadi Nafchi, Arash; Alikhani, Shahnaz. (2018). Investigating the mediating role of dividend policy in the effect of cash surplus on stock returns in companies listed on the Tehran Stock Exchange, Management and Accounting Studies Quarterly. 5(1): 64-82
• Mohammadi, Timur; Ghasemi, Abdul Rasul; Khorsandi, Morteza and Bagheri, Sabah. (2018). Effects of oil price shocks on macroeconomic variables of oil exporting and importing countries in the global economy: Global VAR approach, Quarterly Journal of Energy Economics Studies. 15(63): 57-98.
• Mohammadi, Mohammad; Talari, Shahla; Maleki Eskoui, Malek Taj; Khosravi, Zahra. (2018). Evaluation of the relationship between agency fees and profit sharing policies and investment efficiency in companies listed on Tehran Bahadur Stock Exchange, Accounting and Management Perspective Quarterly. 2(16): 87-107
• Nice work, Javad. (2018). The effect of product market competition on investment efficiency in companies listed on the Tehran Stock Exchange, Journal of Accounting and Auditing Studies. 2(9): 71-88.
• Hatfi Ferd Majumard Majid, Zamaniyan Gholamreza, Nabi Shahiki Tash Mohammad and Umm Albinin Jalali (2019). The mystery of market volatility due to the systematic risk of bubbles in the Iranian securities market. Scientific journal of economic research and policies, 93(28), 355-329.
