Portfolio Prioritization in Life Insurance with MCDM Techniques: The Case of Toseeh Insurance Company

Liberalization and privatization of Iranian insurance industry, has changed corporate behavior towards a more appropriate strategic and marketing planning in order to maintain market shares. This paper discusses portfolio prioritization in Life insurance with MCDM techniques. We use these techniques to assess resource prioritization in Toseeh Insurance Company. We use company assessments and documentation as our qualitative data source. Internal decision making processes are explained and various approaches are compared to each other. To estimate qualitative factor weights, we use the AHP approach, and for prioritizing portfolios SAW, TOPSIS and VIKOR approaches are used. These techniques have been used for all insurance corporate decision making for portfolios prioritization. We find that based on SAW and TOPSIS approaches, the Family Supporting Insurance was the first and the Juvenile Insurance the second priorities. These results are also supported by the VIKOR approach.