A fuzzy knowledge-based system for premium rating of workers’ compensation insurance for building projects Imriyas, Kamardeen en_US Low, S.P en_US Teo, A.L en_US 2021-11-25T13:36:56Z 2021-11-25T13:36:56Z 2007 en_US
dc.description.abstract Occupational injuries and fatalities are rampant in construction. The significance of the workers’ compensation insurance (WCI) is immeasurable in safeguarding the interests of construction workers and contractors. From the insurers’ perspective, the commitment under this insurance is extremely broad; there are no exclusions and a maximum limit on their liability. Thus, insurers must accomplish rigorous risk and market assessments to decide optimal premiums for construction projects. The conventional experience rating approach of premium rating has been proven ineffective for construction applications. Based on the findings of a literature review and an interview questionnaire survey, a new WCI premium rating model was developed for building projects. A hybrid of interviews and past workers’ compensation claims data analysis was adopted to develop the conceptual model of a fuzzy knowledge-based system (KBS) to automate the proposed model. It was then prototyped, and verified with Turing tests. The proposed model and its fuzzy KBS advocate real time structured assessments of project hazards, safety, market condition and insurers’ internal factors for premium rating. They also establish an effective risk control strategy via a well-structured incentive system for contractors and clients. Their implementation in the general insurance industry can facilitate accident control in the construction industry, thereby minimizing insurers’ financial risks. en_US
dc.identifier.issn 0144-6193 en_US
dc.language English
dc.language.iso EN en_US
dc.rights CC BY-NC-ND 3.0 en_US
dc.rights.uri en_US
dc.source Legacy MARC en_US
dc.subject.other Fuzzy logic. en_US
dc.subject.other Occupational health and safety. en_US
dc.subject.other Insurance. en_US
dc.subject.other Knowledge-based system. en_US
dc.title A fuzzy knowledge-based system for premium rating of workers’ compensation insurance for building projects en_US
dc.type Journal Article en
dcterms.accessRights metadata only access
dspace.entity.type Publication en_US
unsw.identifier.doiPublisher en_US
unsw.relation.faculty Arts Design & Architecture
unsw.relation.ispartofissue 11 en_US
unsw.relation.ispartofjournal Construction Management and Economics en_US
unsw.relation.ispartofpagefrompageto 1175-1193 en_US
unsw.relation.ispartofvolume 25 en_US
unsw.relation.originalPublicationAffiliation Imriyas, Kamardeen, Faculty of Built Environment, UNSW en_US
unsw.relation.originalPublicationAffiliation Low, S.P en_US
unsw.relation.originalPublicationAffiliation Teo, A.L en_US School of Built Environment *
Resource type