An Application of DEA-MCDM Compilation Model for Evaluating Relative Efficiency and Ranking of Iranian Insurance Companies

Efficiency measurement of firms operating in a competitive environment has always been a concern. The purpose of this study is to evaluate the efficiency of Iranian insurance companies using Data Envelopment Analysis (DEA), ranking of insurance companies using the DEA model and comparing results with multi-factor decision-making models. In order to achieve this goal, in addition to a library comprehensive study, we have investigated about the previous studies results related to the inputs and outputs of the DEA model. Then, content analysis technique is used in order to screen the variables which are identified by Shannon Entropy. In the next step, using the DEA model, efficient and inefficient insurance companies are identified and after that, we rank efficient insurance companies according to the AP model. Then, using multi-criteria decision making models, insurance companies were ranked and in the end, Copeland method was used to present the unit rank.