HIERARCHICAL CLASSIFICATION IN INSURANCE DATA ANALYSIS

Nikos Koutsoupias and Ioannis Papadimitriou
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Ioannis Papadimitriou: Department of Applied Informatics, Univ. of Macedonia, Thessaloniki, Greece and Egnatia 156 P.O.Box 1591, 54006 Thessaloniki, Greece

Chapter 5 in Fuzzy Sets in Management, Economics and Marketing, 2001, pp 69-81 from World Scientific Publishing Co. Pte. Ltd.

Abstract: AbstractThe private life insurance industry in Greece, as well as in the European region, is rapidly changing since it is challenged with new immigration, demographic and occupational circumstances. This paper is an attempt to demonstrate the use of Hierarchical Classification, a Statistical Multidimensional Data Analysis clustering method, implemented in a graphical environment using software built by the authors. The analysis of 1234 contracts based on 145 variables lead us into a collection of distinct, homogenous contract groups. We believe the method allows to efficiently obtain information about the portfolio picture of the life insurance company with no a piori assumptions and limitations.

Date: 2001
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