Perception of Particle Swarm Optimization (PSO) Algorithm in Insurance Strategies

SAARJ Journal on Banking & Insurance Research (SJBIR) Vol 7, Issue 4 July, 2018

13 Pages Posted: 16 Aug 2019

See all articles by Hossein Niavand

Hossein Niavand

University of Mysore, BN Bahadur Institute of Management Sciences, Department of Studies in Business Administration, Students

R. Mahesh

University of Mysore

Date Written: August 13, 2019

Abstract

In the worldwide time, insurance rapidly a lot of tremendous development in our society. Due to the increased stress in day-to-day life, the growth of demand for insurance increased. Data mining helps insurance firms to discover useful patterns from the customer database direction of determining best strategies. Particle swarm optimization (PSO) is one of the tools in Data mining, PSO is a powerful new technology with great potential to help insurance firms focus on the most important information in the data they have collected about the behaviour of their customers and potential customers. The purpose of the paper aims to present how Particle Swarm Optimization (PSO) algorithm is used in the insurance strategies, how its techniques produce good results in the insurance sector and how data mining enhances in decision making using insurance data.

Keywords: Data Mining, Particle Swarm Optimization (PSO) Algorithm, Insurance Strategies

Suggested Citation

Niavand, Hossein and Mahesh, R., Perception of Particle Swarm Optimization (PSO) Algorithm in Insurance Strategies (August 13, 2019). SAARJ Journal on Banking & Insurance Research (SJBIR) Vol 7, Issue 4 July, 2018. Available at SSRN: https://ssrn.com/abstract=3436969 or http://dx.doi.org/10.2139/ssrn.3436969

Hossein Niavand (Contact Author)

University of Mysore, BN Bahadur Institute of Management Sciences, Department of Studies in Business Administration, Students ( email )

India

R. Mahesh

University of Mysore ( email )

Mysore
Karnataka
Manasagangotri, karnataka
India

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