The insurance industry is considered as one of the influential financial institutions that have an effective role in reducing the risk in various economic dimensions of society. Hence, insurance companies, by accepting the risks associated with the lives, property, and responsibilities of the community and economic activists, are the basis for the security of investment in society. Therefore, since the main field of activity of insurance companies is risk-taking, it is necessary for them to have access to powerful risk analysis tools to take effective risk management. Therefore, insurance companies have a significant interest in TRUST indicators for long-term communication with customers and the provision of the loyalty factor as a competitive advantage. This study seeks to find an optimal mix of demographic characteristics of the insurers who have the most confidence in insurance companies. For this purpose, a data envelopment analysis has been used with real data from three insurance companies in Tehran.
Optimization of customers’ trust in the insurance industry by data envelopment analysis: An actual case study
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