A fuzzy PROMETHEE approach for choosing the most preferable health insurance companies / Nurul Qistina Mohd Kamal and Raihana Zainordin

• Main Authors: Mohd Kamal, Nurul Qistina, Zainordin, Raihana
• Format: Book Section
• Language: English
• Published: College of Computing, Informatics and Media, UiTM Perlis 2023
• Subjects: Fuzzy decision making
• Online Access: https://ir.uitm.edu.my/id/eprint/100334/1/100334.pdf; https://ir.uitm.edu.my/id/eprint/100334/

An insurance is a firm or agency that will guarantee coverage for a specified loss, damage, illness, or death in exchange for the payment of a specific premium. A person pays for protection from any unforeseen financial losses when they get insurance. The insurance company would pay them if something unfortunate happens to them. Selecting an insurance company is challenging because it necessitates careful consideration and study to make the best choice. The decision-making process is harder by each person's individual perception. Different people have different tastes when it comes to insurance companies. Because of this, it is crucial to follow the right procedure while choosing the best insurance company. The objectives of this study are to rank insurance companies by using fuzzy PROMETHEE and to evaluate the performance of the insurance companies by the comparison of fuzzy PROMETHEE ranking and the original ranking. Three insurance companies which are Great Eastern, AIA, and PRUDENTIAL will be ranked in this study. The contribution, coverage, deductible, and waiting period are the criteria that will be considered in this study. The insurance companies will be ranked by using the fuzzy PROMETHEE. A decision maker is required to rate the alternatives and criteria in this study. As a result, the most preferable health company is Great Eastern as the first, AIA as the second and PRUDENTIAL as the last. The findings of this study will be beneficial for many people. Future researchers are recommended to widen the scope of the project by considering varieties of alternatives and criteria.