On the Use of Multicriteria Methods for the Evaluation of Insurance Companies in Greece

Panos M. Pardalos
Department of Industrial and Systems Engineering, University of Florida

M. Michalopoulos and C. Zopunidis
DSS Laboratory, Technical University of Crete

Abstract

Decisions concerning the evaluation of insurance companies are made on a multicriteria basis. In this paper two multicriteria methods for insurance company evaluation are presented, the DEA (Data Envelopment Analysis) and the PROMETHEE (Preference Ranking Organizational Method for Enrichment Evaluations), that meet the evaluation problem in a very satisfactory way. These methods are applied on a sample of Greek insurance companies.