A Premium-based Financial Performance Analysis for 7 Turkish Insurance Companies between the Years of 2014 and 2023
DOI:
https://doi.org/10.5281/zenodo.20961017Keywords:
Insurance, Active-Based Premium Performance,, Multi-Criteria Decision MakingAbstract
Purpose – The Insurance Industry is one of the rising financial sectors of Turkey, with recent developments such as insurtech and digitalism. On the other hand, the efficient and effective management and positioning of the insurance companies are so important. This research mainly aims to develop a comparative framework with 6 premium dependent variables. As five variables indicate how the Turkish companies can manage their activities (equities and assets) according to premiums, the other one (Total Damage/Total Premiums) shows the consumer happiness regarding high premiums. The research includes the 7 biggest insurance companies over the past ten years.
Design/data/methodology – CRITIC, TOPSIS, GRA and ELECTRE were used as a research method.
Findings – According to findings, Aksigorta insurance company is at the first rank for TOPSIS and GRA results. On the other hand, it was confirmed that the industry lived through hard times due to the COVID-19 pandemic. According to ELECTRE results, the competition structure of the Turkish insurance companies is complicated and complex, considering the performance variables for the research sample and period.
Originality/value – At the end of the analysis, it was said that the positioning of the insurance structure carried a similar pattern to other emerging countries. Moreover, similar analyses can be realized for large samples from different countries, and comparisons can be made for the future.
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