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Comparative analysis of DEA/AHP and DEA/Fuzzy AHP Models in Evaluating the Effeciency of Life Insurance and Takaful Companies / Nur Shuhada Mohamad, Nurul Fatinah Ahmad Padzil and Norhafizah Zakiah Hashim

The purpose of this research is to evaluate efficiency of life insurance and Takaful companies in Malaysia by comparing the efficiency result based on integrating of Data Envelopment Analysis (DEA) with Analytic Hierarchy Process (AHP) and Data Envelopment Analysis (DEA) with Fuzzy Analytic Hiera...

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Main Authors: Mohamad, Nur Shuhada, Ahmad Padzil, Nurul Fatinah, Hashim, Norhafizah Zakiah
Format: Student Project
Language:English
Published: 2019
Subjects:
Fuzzy arithmetic
Mathematical statistics. Probabilities
Fuzzy decision making
Fuzzy logic
Online Access:http://ir.uitm.edu.my/id/eprint/37585/1/37585.PDF
http://ir.uitm.edu.my/id/eprint/37585/
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spelling my.uitm.ir.375852020-11-25T03:44:17Z http://ir.uitm.edu.my/id/eprint/37585/ Comparative analysis of DEA/AHP and DEA/Fuzzy AHP Models in Evaluating the Effeciency of Life Insurance and Takaful Companies / Nur Shuhada Mohamad, Nurul Fatinah Ahmad Padzil and Norhafizah Zakiah Hashim Mohamad, Nur Shuhada Ahmad Padzil, Nurul Fatinah Hashim, Norhafizah Zakiah Fuzzy arithmetic Mathematical statistics. Probabilities Fuzzy decision making Fuzzy logic The purpose of this research is to evaluate efficiency of life insurance and Takaful companies in Malaysia by comparing the efficiency result based on integrating of Data Envelopment Analysis (DEA) with Analytic Hierarchy Process (AHP) and Data Envelopment Analysis (DEA) with Fuzzy Analytic Hierarchy Process (F AHP) during the period 2015-2017. The output-input data consist of 19 life insurance and Takaful companies in Malaysia were chosen as the sample of the study. This research develops the output orientation CCR model to measure the efficiency. This study utilizes two inputs and two outputs; commission expenses and management expenses as well as net premium and net investment income. The secondary data has been collected from each company's annual financial report respectively. This paper has compared the three models which are DEA, DEA/Fuzzy AHP and DEA/AHP. The result showed that DEA model produces many efficient units and many zero weights for three consecutive years. Then, by integrating Fuzzy AHP and AHP into DEA the number of efficient units has been reduced. Besides that, by using the DEA/Fuzzy AHP model the number of zero weights has been reduced. While by using DEA/ AHP model, the number of zero weights has been eliminated. It shows that the discrimination power has been increased when expert judgement being considered. 2019 Student Project NonPeerReviewed text en http://ir.uitm.edu.my/id/eprint/37585/1/37585.PDF Mohamad, Nur Shuhada and Ahmad Padzil, Nurul Fatinah and Hashim, Norhafizah Zakiah (2019) Comparative analysis of DEA/AHP and DEA/Fuzzy AHP Models in Evaluating the Effeciency of Life Insurance and Takaful Companies / Nur Shuhada Mohamad, Nurul Fatinah Ahmad Padzil and Norhafizah Zakiah Hashim. [Student Project] (Unpublished)
institution Universiti Teknologi Mara
building Tun Abdul Razak Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Teknologi Mara
content_source UiTM Institutional Repository
url_provider http://ir.uitm.edu.my/
language English
topic Fuzzy arithmetic
Mathematical statistics. Probabilities
Fuzzy decision making
Fuzzy logic
spellingShingle Fuzzy arithmetic
Mathematical statistics. Probabilities
Fuzzy decision making
Fuzzy logic
Mohamad, Nur Shuhada
Ahmad Padzil, Nurul Fatinah
Hashim, Norhafizah Zakiah
Comparative analysis of DEA/AHP and DEA/Fuzzy AHP Models in Evaluating the Effeciency of Life Insurance and Takaful Companies / Nur Shuhada Mohamad, Nurul Fatinah Ahmad Padzil and Norhafizah Zakiah Hashim
description The purpose of this research is to evaluate efficiency of life insurance and Takaful companies in Malaysia by comparing the efficiency result based on integrating of Data Envelopment Analysis (DEA) with Analytic Hierarchy Process (AHP) and Data Envelopment Analysis (DEA) with Fuzzy Analytic Hierarchy Process (F AHP) during the period 2015-2017. The output-input data consist of 19 life insurance and Takaful companies in Malaysia were chosen as the sample of the study. This research develops the output orientation CCR model to measure the efficiency. This study utilizes two inputs and two outputs; commission expenses and management expenses as well as net premium and net investment income. The secondary data has been collected from each company's annual financial report respectively. This paper has compared the three models which are DEA, DEA/Fuzzy AHP and DEA/AHP. The result showed that DEA model produces many efficient units and many zero weights for three consecutive years. Then, by integrating Fuzzy AHP and AHP into DEA the number of efficient units has been reduced. Besides that, by using the DEA/Fuzzy AHP model the number of zero weights has been reduced. While by using DEA/ AHP model, the number of zero weights has been eliminated. It shows that the discrimination power has been increased when expert judgement being considered.
format Student Project
author Mohamad, Nur Shuhada
Ahmad Padzil, Nurul Fatinah
Hashim, Norhafizah Zakiah
author_facet Mohamad, Nur Shuhada
Ahmad Padzil, Nurul Fatinah
Hashim, Norhafizah Zakiah
author_sort Mohamad, Nur Shuhada
title Comparative analysis of DEA/AHP and DEA/Fuzzy AHP Models in Evaluating the Effeciency of Life Insurance and Takaful Companies / Nur Shuhada Mohamad, Nurul Fatinah Ahmad Padzil and Norhafizah Zakiah Hashim
title_short Comparative analysis of DEA/AHP and DEA/Fuzzy AHP Models in Evaluating the Effeciency of Life Insurance and Takaful Companies / Nur Shuhada Mohamad, Nurul Fatinah Ahmad Padzil and Norhafizah Zakiah Hashim
title_full Comparative analysis of DEA/AHP and DEA/Fuzzy AHP Models in Evaluating the Effeciency of Life Insurance and Takaful Companies / Nur Shuhada Mohamad, Nurul Fatinah Ahmad Padzil and Norhafizah Zakiah Hashim
title_fullStr Comparative analysis of DEA/AHP and DEA/Fuzzy AHP Models in Evaluating the Effeciency of Life Insurance and Takaful Companies / Nur Shuhada Mohamad, Nurul Fatinah Ahmad Padzil and Norhafizah Zakiah Hashim
title_full_unstemmed Comparative analysis of DEA/AHP and DEA/Fuzzy AHP Models in Evaluating the Effeciency of Life Insurance and Takaful Companies / Nur Shuhada Mohamad, Nurul Fatinah Ahmad Padzil and Norhafizah Zakiah Hashim
title_sort comparative analysis of dea/ahp and dea/fuzzy ahp models in evaluating the effeciency of life insurance and takaful companies / nur shuhada mohamad, nurul fatinah ahmad padzil and norhafizah zakiah hashim
publishDate 2019
url http://ir.uitm.edu.my/id/eprint/37585/1/37585.PDF
http://ir.uitm.edu.my/id/eprint/37585/
_version_ 1685651533474037760
score 13.211869

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