It is concluded that while an increase in income level and expected claim severity causes an increase in the demand, an increase in premium level causes a decrease in demand
📌 3 Key Takeaways
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Objective & Hypothesis:In this study, the demand for comprehensive insurance is analysed using utility theory and system simulation.
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Key Findings & Data:Simulation assumptions and input-output variables are determined using the real data set from a Turkish insurance company and the report about the insurance activities in Turkey for year 2014.
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Conclusion & Impact:It is concluded that while an increase in income level and expected claim severity causes an increase in the demand, an increase in premium level causes a decrease in demand
🔬Design:Research Article
📍Scope:2014 Verileri
⚙️Variables:Domain Parameters
Abstract
In this study, the demand for comprehensive insurance is analysed using utility theory and system simulation. A simulation study is performed to assess the behaviour of individuals with different income levels for the demand of comprehensive insurance. Simulation assumptions and input-output variables are determined using the real data set from a Turkish insurance company and the report about the insurance activities in Turkey for year 2014. The effects of income level, expected claim severity and premium level on the demand for insurance are investigated. It is concluded that while an increase in income level and expected claim severity causes an increase in the demand, an increase in premium level causes a decrease in demand
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Cite This Article
KIRKAĞAÇ, M., GENÇTÜRK, Y., ERDEMİR, Ö. K. (2022). THE ANALYSIS OF THE COMPREHENSIVE INSURANCE DEMAND FOR TURKEY USING UTILITY THEORY AND SYSTEM SIMULATION. Anadolu Üniversitesi Bilim ve Teknoloji Dergisi :A-Uygulamalı Bilimler ve Mühendislik, Cilt: 18 - Sayı: 1, 115–121. https://ajindex.com/articles/438296
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