Title: Application of combinational approach of FAHP and PROMETHEE in the insurance branches ranking

Authors: Mostafa Kazemi; Saeideh Farajzadeh Bardeji

Addresses: Department of Management, Faculty of Economic and Administrative Sciences, Ferdowsi University of Mashhad (FUM), Azadi Square, Mashhad, Iran ' Department of Management, Faculty of Economic and Administrative Sciences, Ferdowsi University of Mashhad (FUM), Azadi Square, Mashhad, Iran

Abstract: Nowadays, considering the importance of the insurance industry in the world of competitive economy, it seems necessary to study and determine its position among competitors. In order to study the position and situation of insurance companies, scientific methods are used. In this study, researchers have been tried to rank the branches of insurance by gathering data from 24 branches of Iran insurance. Gathered data is related to five indicators, branch manpower skill, general and administrative costs of branch, degree of branch, sales and wages. To rank these branches, the combination of fuzzy analytical hierarchy process (FAHP) and preference ranking organisation method for enrichment evaluation (PROMETHEE) methods is used; according to the results, the first and the last ranks have been obtained respectively by branches no. 23 and no. 22 among branches.

Keywords: insurance industry; insurances branches; fuzzy AHP; analytical hierarchy process; FAHP; PROMETHEE; insurance branch ranking; Iran; manpower skills; general costs; administrative costs; sales; wages.

DOI: 10.1504/IJPM.2016.078691

International Journal of Procurement Management, 2016 Vol.9 No.5, pp.548 - 567

Received: 11 May 2015
Accepted: 08 Jun 2015

Published online: 01 Sep 2016 *

Full-text access for editors Full-text access for subscribers Purchase this article Comment on this article