Supporting Islamic Insurance New Hire Training Using Fuzzy Rules

Siti Fatimah Abdul Razak,Lew Ling,Tan Kim,Tan Peng

doi:10.5171/2013.420480

Abstract

This study presents a fuzzy rule base which may facilitate Islamic insurance operators in training new hires, a.k.a agents as their sales representatives especially in identifying and suggesting policies which suit a potential or existing client needs and requirements. Initially, this task accomplishment is based on agents’ intuitions and experience which lacks from new or inexperienced agents. This study adapts an expert system framework and induced fuzzy rules from existing customer database. The new agents may support their propositions to customers based on the rules induced.

Highlights

The financial services sector which includes banking, investment funds, real estate and insurance companies have seen rising demands globally
This study presents a fuzzy rule base which may facilitate Islamic insurance operators in training new hires, a.k.a agents as their sales representatives especially in identifying and suggesting policies which suit a potential or existing client needs and requirements
According to Takaful Act 1984 (Malaysia), Islamic insurance refers to a scheme based on brotherhood, solidarity and mutual assistance which provides for mutual financial aid and assistance to the participants in case of need whereby the participants mutually agree to contribute for that purpose (Bank Negara Malaysia, 2010)

Summary

Introduction

The financial services sector which includes banking, investment funds, real estate and insurance companies have seen rising demands globally. This study presents a fuzzy rule base which may facilitate Islamic insurance operators in training new hires, a.k.a agents as their sales representatives especially in identifying and suggesting policies which suit a potential or existing client needs and requirements. Like any system development approach or decision making process, the first step is to identify and analysis the problem in hand the problem faced by the insurance industry stakeholders, i.e. operators, consumers and investors in determining or proposing suitable policy which meet the needs and requirements of prospects and existing consumers.

Results

Conclusion