Ordinal Classification Method for the Evaluation of Thai Non-life Insurance Companies
This paper proposes a use of an ordinal classifier to evaluate the financial solidity of non-life insurance companies as strong, moderate, weak, and insolvency. This study constructed an efficient classification model that can be used by regulators to evaluate the financial solidity and to determine the priority of further examination as an early warning system. The proposed model is beneficial to policy-makers to create guidelines for the solvency regulations and roles of the government in protecting the public against insolvency.
Keywords: Ordinal classification, Imbalanced class classification, Solvency condition classification, Non-life insurance companies.
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ABOUT THE AUTHORS
Phaiboon Jhonpita
Technopreneurship and Innovation Management Program Graduate School, Chulalongkorn University,Bangkok, Thailand
Sukree Sinthupinyo
Department of Computer Engineering, Faculty of Engineering, Chulalongkorn University, Bangkok, Thailand
Thitivadee Chaiyawat
Department of Statistics, Faculty of Commerce and Accountancy Chulalongkorn University, Bangkok, Thailand
Phaiboon Jhonpita
Technopreneurship and Innovation Management Program Graduate School, Chulalongkorn University,Bangkok, Thailand
Sukree Sinthupinyo
Department of Computer Engineering, Faculty of Engineering, Chulalongkorn University, Bangkok, Thailand
Thitivadee Chaiyawat
Department of Statistics, Faculty of Commerce and Accountancy Chulalongkorn University, Bangkok, Thailand
