Our faculty members’ study published in ‘Financial Innovation’

The study titled “Insurtech in Europe: Identifying the top investment priorities for driving innovation” was published in the journal “Financial Innovation”, which ranks first in the world in social sciences and third in finance. A total of 5 authors took part in the study in Financial Innovation, which has an impact factor average of 8.4 for the last two years.

A UNIQUE FUZZY DECISION-MAKING MODEL HAS BEEN INTRODUCED TO THE LITERATURE
The study conducted by our faculty members aimed to determine the necessary indicators to improve insurance technology systems in European countries and to select the most critical alternatives to increase insurance technology-based investments. To achieve this goal, a new fuzzy decision-making model was created by integrating Entropy and ARAS techniques with global fuzzy sets. The study will help investors take the right actions to increase the performance of their Insurtech investments without incurring high costs.

THE MOST IMPORTANT FACTOR IS EFFECTIVE AND ACCURATE PRICING
According to the analysis results of the study, the most important factor that will increase the performance of the Insurtech system is an effective and accurate pricing strategy. Making a statement on the subject, Prof. Serhat Yüksel said: “It would be appropriate for insurance companies to take the right actions to make more accurate pricing. Insurance companies need to be able to make personalized pricing. However, in order to achieve this goal, it is important to conduct serious work on customer data. According to the data obtained, overpayments can be prevented by providing individual prices to customers. This will significantly increase customer satisfaction. This will make consumers more willing to buy insurance. To achieve this goal, insurance companies need to build an extremely robust technological infrastructure. With a technological infrastructure, large amounts of data can be collected and processed. The employment of qualified personnel will also help achieve this goal because the data obtained does not make sense unless it is analyzed by experts. For this reason, insurance companies need to take care to employ personnel specialized in data analysis.”