Vol. 4 No. 1 (2014): Vol 4, Iss 1, Year 2014
Articles

Insurance Premium Optimization: Perspective of Insurance Seeker and Insurance Provider

Nidhi Arora
Assistant Professor, U. V. Patel College of Engineering, Mehsana, India
Poonam Arora
Assistant Professor, Amity Global Business school, Ahmedabad, India
Published June 30, 2014
Keywords
  • Stress quotient; Stress stimulants; peer pressure; stress factors; parental expectations.
How to Cite
Arora, N., & Arora, P. (2014). Insurance Premium Optimization: Perspective of Insurance Seeker and Insurance Provider. Journal of Management and Science, 4(1), 43-53. https://doi.org/10.26524/jms.2014.6

Abstract

The paper proposes a utilitarian and newfangled design of life insurance premium payment. Insurance companies provide insurance to the policy holders and in turn the policy holders have to pay insurance premium periodically. In this paper, we study the important factors to be considered at the time of selecting the term of premium payment of insurance. The intention is to extend this study to a method which can machinate and assist users in deciding the term and amount
of premium payment. Our aim here is twin-fold; one, to evoke a novel way to policy holder to decide the least premiums to be paid and second, to devise a manner for insurance provider to collect maximum premiums. With this twofold aim, we propose a hybrid soft computing optimization model using Neuro-Fuzzy approach and Particle Swarm Optimization.

Downloads

Download data is not yet available.