- citations in SCIndeks: [4]
- citations in CrossRef:[4]
- citations in Google Scholar:[
]
- visits in previous 30 days:8
- full-text downloads in 30 days:4
|
|
2021, vol. 37, iss. 2, pp. 9-38
|
Analysis of the efficiency of insurance companies by lines of insurance in Serbia using the COCOSO method
Analiza efikasnosti osiguravajućih kompanija po vrstama osiguranja u Srbiji na bazi COCOSO metode
Abstract
Lately, as known, the efficiency (performance) of insurance companies has been increasingly assessed through the multiple criteria analysis. Having this in mind, this paper analyses the efficiency of insurance companies by lines of insurance in Serbia using the COCOSO method (Combined Compromise Solution). We have proposed adequate measures, within this context, to upgrade the future efficiency of insurance companies in Serbia. The results of efficiency survey of insurance companies by lines of business in Serbia using the COCOSO method has revealed that the method is best applied in property insurance, followed by the accident insurance and voluntary health insurance, motor vehicle insurance, nonlife insurance not classified in subgroups, life insurance other than pure life, liability insurance, pure life insurance, insurance of vessels and transport, credit and guarantee insurance and aircrafts insurance. Such efficiency ranking of the insurance companies by insurance lines was impacted by numerous macro and micro factors (living standard, economic climate, political situation and the like).
Sažetak
U poslednje vreme, kao što je poznato, sve se više ocenjuje efikasnost (performanse) osiguravajućih kompanija na bazi višekriterijumske analize. Imajući to u vidu, u ovom radu analiziramo efikasnost osiguravajućih kompanija po vrstama osiguranja u Srbiji na bazi COCOSO metode (engl. Combined Compromise Solution). U kontekstu toga predložene su adekvatne mere za unapređenje efikasnosti osiguravajućih kompanija u Srbiji u budućnosti. Dobijeni rezultati istraživanja efikasnosti osiguravajućih kompanija po vrstama osiguranja u Srbiji na bazi COCOSO metode pokazuju da je ona najbolja kod imovinskog osiguranja. Zatim, po redosledu, dolaze: osiguranje od posledica nezgode i dobrovoljno zdrastveno osiguranje, osiguranje vozila, neživotna osiguranja koja nisu svrstana u podgrupe, životna osiguranja osim osiguranja života, osiguranje od odgovornosti, osiguranje života, osiguranje plovnih objekata i transporta, osiguranje kredita i jemstva, i osiguranje vazduhoplova. Na takvo rangiranje efikasnosti osiguravajućih kompanija po vrstama osiguranja uticali su brojni makro i mikro faktori (životni standard, ekonomska klima, politička situacija i drugi).
|
|
|
References
|
3
|
Brauers, W.K.M., Zavadskas, E.K. (2006) The MOORA method and its application to privatization in a transition economy. Control and Cybernetics, 35(2), 445-469
|
9
|
Ersoy, N. (2017) Performance measurement in retail industry by using a multi-criteria decision making methods. Ege Akademik Bakis (Ege Academic Review), 17(4), 539-551
|
3
|
Gaur, L., Agarwal, V., Anshu, K. (2020) Fuzzy DEMATEL approach to identify the factors influencing efficiency of Indian retail websites. in: Kapur P., Singh O, Khatri S., Verma A. [ed.] Strategic System Assurance and Business Analytics. Asset Analytics (Performance and Safety Management), Singapore: Springer
|
1
|
Isseveroglu, G., Sezer, O. (2015) Financial performance of pension companies operating in Turkey with TOPSIS analysis method. International Journal of Academic Research in Accounting, Finance and Management Sciences, 5(1), 137-147
|
3
|
Kočović, J., Šulejić, P., Rakonjac-Antić, T. (2010) Osiguranje. Beograd: Univerzitet u Beogradu, Ekonomski fakultet
|
|
Lai, H., Liao, H., Wen, Z., Kazimieras, Z.E., Al-Barakati, A. (2020) An Improved COCOSO Method with a Maximum Variance Optimization Model for Cloud Service Provider Selection. Inzinerine Ekonomika-Engineering Economics, 31(4), 411-424
|
6
|
Lukić, R., Zekić-Hadrović, B. (2019) Evaluation of efficiency of trade companies in Serbia using the DEA approach. in: International Scientific Conference (19th) Business Logistics in Modern Management, October 10-11, Osijek, Croatia, Proceedings, Osijek: Josip Juraj Strossmayer University of Osijek -Faculty of Economics in Osijek, 145-165
|
6
|
Lukić, R., Hadrović-Zekić, B., Crnjac-Milić, D. (2020) Financial performance evaluation of trading companies in Serbia using the integrated fuzzy AHP-TOPSIS approach. in: International scientific symposium region (9th), Entrepreneurship, development, Osijek, June, Osijek: Republic of Croatia Ministry of science and education, 690-703
|
3
|
Lukić, R. (2016) Računovodstvo osiguravajućih kompanija. Beograd: Univerzitet u Beogradu, Ekonomski fakultet
|
3
|
Mandić, K., Delibašić, B., Knežević, S., Benković, S. (2017) Analysis of the efficiency of insurance companies in Serbia using the fuzzy AHP and TOPSIS methods. Economic Research / Ekonomska Istraživanja, 30(1), 550-565
|
1
|
Rakonjac-Antić, T. (2018) Penzijsko i zdrastveno osiguranje. Beograd: Univerzitet u Beogradu, Ekonomski fakultet
|
20
|
Saaty, T.L. (2008) Decision making with the analytic hierarchy process. International journal of services sciences, 1(1), 83-98
|
1
|
Tsvetkova, L., Bugaev, Y., Belousova, T., Zhukova, O. (2021) Factors affecting the performance of insurance companies in Russian Federation. Montenegrin Journal of Economics, 17(1), 209-218
|
|
Wen, Z., Liao, H., Kazimieras, Z.E., Albarakati, A. (2019) Selection third-party logistics service providers in supply chain finance by a hesitant fuzzy linguistic combined compromise solution method. Economic Research / Ekonomska Istraživanja, 32(1), 4033-4058
|
2
|
Yazdani, M., Zarate, P., Zavadskas, E.K., Turskis, Z. (2019) A combined compromise solution (COCOSO) method for multi-criteria decision-making problems. Management Decision, 57(9), 2501-2519
|
5
|
Zeleny, M. (1973) Compromise programming. in: Cochrane J.L., Zeleny M. [ed.] Multiple criteria decision making, Columbia, SC: University of South Carolina Press, str. 262-301
|
|
|
|