Evaluation models of insurers’ risk management based on large system theory

The financial supply chain is increasingly recognized as an area offering significant potential for generating bottom-line improvements and creating competitive advantage. Insurers’ appraisal is one of the basic decisions for a company, and the choosing course has always many criterions. Considering...

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Bibliographic Details
Published in:Stochastic environmental research and risk assessment 2009-05, Vol.23 (4), p.415-423
Main Authors: Liang, Xiaobei, Chen, Demian, Ruan, Da, Tang, Bingyong
Format: Article
Language:English
Subjects:
Aquatic Pollution
Chemistry and Earth Sciences
Computational Intelligence
Computer Science
Earth and Environmental Science
Earth Sciences
Environment
Evaluation
Insurance companies
Math. Appl. in Environmental Science
Original Paper
Physics
Probability Theory and Stochastic Processes
Risk management
Statistics for Engineering
Stochastic models
Waste Water Technology
Water Management
Water Pollution Control
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Summary:The financial supply chain is increasingly recognized as an area offering significant potential for generating bottom-line improvements and creating competitive advantage. Insurers’ appraisal is one of the basic decisions for a company, and the choosing course has always many criterions. Considering the stability of the financial supply chain, the coordination evaluation and fuzzy multi-objective evaluation model of insurers’ risk management are firstly studied in this paper by using large system theory and methods. The corresponding coordination evaluation index model is then established to evaluate, forecast and control the actuality and the future of risk coordination management, and to improve the durative development for a combination pension model. The evaluation standards of numerous insurers are established to constitute a set of vectors. By presenting a dimensional point to each insurer, the optimal or the worst insurer is decided. Finally, the distances of each insurer to the optimal or the worst insurer on the basis of the Euclidean distance are counted, and the insurers’ ordering according to the value of distances is sorted out. The financial supply chain and large system theory and methods are combined to contribute new evaluation models that revise the deficiency of intrinsic model and improve the financial stability.
ISSN:1436-3240
1436-3259
DOI:10.1007/s00477-008-0228-4