Abstract
There are few changes that took place in Iraqin many fields during the past few years; the financial aspect is one of the fields that undergone this change. The change has positive impact because it increases the revenue inIraqfrom the oil exports. The National Insurance Company is one of many companies that belongs to the Ministry of Finance inIraqand has affected directly from this change in term of increasing the number of the insurers which we will discuss in this research. The aim of this research is to forecast the insurance premiums revenue of the National Insurance Company between the years 2012 to 2053 using Artificial Neural Network based on the actual annual data of the insurance premiums revenue between the years 1970 to 2011. The data analyses results of this research show that the growth indicator of the insurance premiums revenue for the next 41 years is approximately 120%, the Mean Squared Error is the average squared difference between outputs and targets. Lower values are better. Zero means no error and the regression values are very high. The estimations and forecasts of the insurance premiums revenue using Artificial Neural Network confirmed to be strong and useful to deploy it for forecasting the insurance premiums revenue.
Highlights
The insurance is a strategic sector between other economic sectors, it provides an economic protection to the human and material resources and it acts as a shield protects the national economy against financial crises
The aim of this research is to forecast the insurance premiums revenue of the National Insurance Company between the years 2012 to 2053 using Artificial Neural Network based on the actual annual data of the insurance premiums revenue between the years 1970 to 2011
The insurance plays a key role in the growth and stability of various economic sectors and contributes effectively in achieving the objectives of the economic development plans due to the financial weight that this sector occupying driven by the outstanding role, and that the insurance companies play in compiling the national savings which requires a high financial skills from the insurance companies to ensure its continuation in the market and to achieve a high level of profits through meeting their obligations towards policyholders rights
Summary
The insurance is a strategic sector between other economic sectors, it provides an economic protection to the human and material resources and it acts as a shield protects the national economy against financial crises. There is no doubt that the developments in the insurance sector and the expected changes in the era enforce to deploy new analysis methods to monitor the financial work of the insurance companies especially the finance and investment. The financial analysis methods aim to identify the extent of the outcome that resulted from applying the legal policies and implementing the decisions in the companies and the ability of these companies to fulfill their obligations towards the policyholders, as well as to assist and enable the financial supervisors to monitor the policies implementation of the insurance companies, they aim to help the investor in identifying the activity and the finance solvency of these companies
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