Volume 13, Issue 1 (2024)
QJIA 2024, 13(1): 34-49 |
Back to browse issues page
Download citation:
BibTeX | RIS | EndNote | Medlars | ProCite | Reference Manager | RefWorks
Send citation to:
BibTeX | RIS | EndNote | Medlars | ProCite | Reference Manager | RefWorks
Send citation to:
Mirzaei A, Rahmani M, Omidvar Z, Rastgu H. Performance Evaluation and Ranking of Agricultural Insurance Agencies Using Balanced Score Card Approach and VIKOR Method. QJIA 2024; 13 (1) :34-49
URL: http://journal.sbkiran.ir/article-1-107-en.html
URL: http://journal.sbkiran.ir/article-1-107-en.html
Agricultural Insurance Fund
Abstract: (252 Views)
Performance evaluation is essential for adapting to changes and fostering continuous improvement. For insurance companies, assessing the performance of their agencies is crucial to understanding the current situation and making informed management decisions to enhance company activities and remain competitive. This research aimed to evaluate the performance of all active agencies (251 in total) of the Agricultural Insurance Fund using the Balanced Scorecard (BSC) approach and the VIKOR method. Through the BSC method, 14 key criteria were identified to assess the performance of these agencies. Feedback from 16 agricultural insurance experts (including managers and experienced personnel from the Agricultural Insurance Fund) helped categorize these criteria into four sections: finance, internal process management, insurance volume, and customer satisfaction. The Shannon entropy method was used to weight these indicators, resulting in the following distribution: financial criteria (46%), customer criteria (33%), insurance volume (11%), and internal process management (10%). The VIKOR method was then employed to rank the agencies. The findings revealed significant performance variations among the agricultural insurance agencies. Specifically, agencies 113 from East Azerbaijan province and 266 and 267 from Kerman province ranked highest overall and in financial performance. These agencies also had the highest rankings in terms of insurance coverage, marking them as the most efficient representatives of the Agricultural Insurance Fund.
Keywords: Shannon Entropy, Multi-criteria Decision Making, Agricultural Insurance Fund, Agricultural Insurance agencies, Weighting.
Send email to the article author
| Rights and permissions | |
 |
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License. |