• Journal of Korean Institute of Industrial Engineers
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• v.36 no.1
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• pp.13-21
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• 2010

The prediction of contract cancellation of customers is essential in insurance companies but it is a difficult problem because the customer database is large and the target or cancelled customers are a small proportion of the database. This paper proposes a new data mining approach to the binary classification by handling a large-scale unbalanced data. Over-sampling, clustering, regularized logistic regression and boosting are also incorporated in the proposed approach. The proposed approach was applied to a real data set in the area of insurance and the results were compared with some other classification techniques.

• Communications for Statistical Applications and Methods
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• v.9 no.1
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• pp.271-280
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• 2002

Recently, many companies have applied data mining techniques to promote competitive power in the field of their business market. In this study, we address how data mining, that is a technique to enable to discover knowledge from a deluge of data, Is used in an executed project in order to support decision making of an enterprise. Also, we develope scoring model on customer attrition probability for automobile-insurance company using data mining techniques. The development of scoring model in domestic insurance is given as an example concretely.

• Proceedings of the Korea Institute of Fire Science and Engineering Conference
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• 1997.11a
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• pp.610-616
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• 1997

One of the notable changes in Korean Industry in 1990's was globalization. Many of Korea plants have been built In the foreign countries and many of foreign plants have been build in Korea. And it is believed that many foreign insurance companies will begin their business in Korea soon, as Korea will open their insurance market to them. While sprinkler system plays very important role in total fire protection system, Korean sprinkler system design has not been studied in depth. Thus, it is not easy to convince the performance of Korean sprinkler system and compare it to NFPA 13, Standard for the Installation of Sprinkler System. Design guideline from both system will be listed and compared in detail. Fire water demand from both system will be reviewed to evaluate its adequacy. Water spray density and actuation time will be estimated, too.

• Journal of the Korea Institute of Building Construction
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• v.19 no.6
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• pp.529-538
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• 2019

Typhoons can cause significant financial damage worldwide. For this reason, states, local governments and insurance companies attempt to quantify and mitigate the financial risks related to these natural disasters by developing a typhoon risk assessment model. As such, the importance of typhoon risk assessment models is increasing, and it is also important to reflect local vulnerabilities to enable sophisticated assessments. Although a practical study of economic losses associated with natural disasters has identified essential risk indicators, comprehensive studies covering the correlation between vulnerability and economic loss are still needed. The purpose of this study is to identify typhoon damage indicators and to develop evaluation indicators for typhoon damage prediction functions, utilizing the loses from Typhoon Maemi as data. This study analyzes actual loss records of Typhoon Maemi provided by local insurance companies to prepare for a scenario of maximum losses. To create a vulnerability function, the authors used the wind speed and distance from the coast and the total value of property, construction type, floors, and underground floor indicators. The results and metrics of this study provide practical guidelines for government agencies and insurance companies in developing vulnerability functions that reflect the actual financial losses and regional vulnerabilities of buildings.

• The Korean Society of Law and Medicine
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• v.23 no.4
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• pp.3-28
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• 2022

Recently, the targets and clauses of negotiation between 'National Health Insurance Service (NHIS)' and Pharmaceutical companies has been expanded. Due to newly adopted 'Quality management clause', 'Compulsory supply maintenance clause' and 'Penalty for breach of contract clause', not only 'Ministry of Health and Wellfare (MOHW)'s 'drug listing' and 'Price cap' announcement, but also 'negotiation between NHIS and pharmaceutical companies' can be a legal sanction to the suppliers. Once secretary of MOHW order NHIS to negotiate with pharmaceutical company, NHIS notify this order to the company and enter into the negotiation. 'The order' exists in the public domain between the government (MOHW) and public institutions (NHIS) and does not constrain the legal rights of companies (Therefore companies cannot pile a lawsuit about the order). However, 'the notice' or 'negotiation' is an act which has a counterpart, can be a target of administrative litigation if the company get some disadvantages from the talks. Negotiations can be divided into four types according to "the target (whether it is listed on the insurance benefit list)" and "the purpose (whether the target is price or conditional)." In particular, negotiations on listed drugs, whose goal is to set unfavorable conditions for companies, can be illegal if there is no price. So we need to consider compensation for the company as an incentive to negotiate.

• Journal of the Korea Institute of Building Construction
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• v.20 no.1
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• pp.83-91
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• 2020

The recent bridge construction projects is demanded more sophisticated risk management measures and loss forecasts to brace for risk losses from an increase in the trend of bridge construction. This study aims to analyze the risk factors that caused the loss of material in actual bridge construction and to develop a quantified predictive loss model, based on the past record of insurance payment by major domestic insurance companies for bridge construction projects. For the development of quantitative bridge construction loss model, the dependent variable was selected as the loss ratio, i.e., the ratio of insurance payout divided by the total project cost, while the independent variable adopted 1) Technical factors: superstructure type, foundation type, construction method, and bridge length 2) Natural hazards: typhoon and flood 3) Project information: construction period and total project cost. Among the selected independent variables, superstructure type, construction method, and project period were shown to affect the ratio of bridge construction losses. The results of this study can provide government agencies, bridge construction design and construction and insurance companies with the quantitative damage prediction and risk assessment services, using risk indicators and loss prediction functions derived from the findings of this study and can be used as a guideline for future basic bridge risk assessment development research.

• The Transactions of the Korea Information Processing Society
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• v.4 no.9
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• pp.2309-2314
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• 1997

The study introduces a neural network to predict the bankruptcy of insurance companies. As a method to optimize the network, a genetic algorithm suggests optimal structure and network parameters. The neural network designed by genetic algorithm is compared with discriminant analysis, logistic regression, ID3, and CART. The robust neural network model shows the best performance among those models compared.

• 한국데이터정보과학회:학술대회논문집
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• 2004.10a
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• pp.43-51
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• 2004

The reliability guarantee insurance policy for parts and materials was introduced to the market in 2003. This policy indemnifies manufactures of products for the repair/failure costs, recall expenses of products and business interruption losses found to be defective by users or demand companies during the terms of guarantee and after the user acquired physical possession of the product. In this paper, owing to the nature of the policy, we propose a new rate-making system considering the type of product and industry, quality control circumstances, record of guarantee performance, and exposure.

• Proceedings of the KAIS Fall Conference
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• 2011.05b
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• pp.792-795
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• 2011

After the year of 2000, compositions of stock holders in domestic firms are rapidly changing. In domestic stock market, the proportion of market value held by foreign investors reaches over 40%. There are several blue chip companies among those where foreign investors hold more than 50% of the stocks. There are still hot debates going on about whether the increase in the number of foreign investors contributes to domestic companies. This research attempted to determine foreign ownership increases enhance firm value empirically. It has been shown that foreign ownership variable has significant positive impact on Tobin's Q of firm value variable. The result suggests that foreign ownership increases in domestic corporations positively contribute to firm value, as they monitor and keep the management transparent as an institutional investor, and they work to soothe agency problems by the managements or the large stock holders.

• YAKHAK HOEJI
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• v.51 no.6
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• pp.424-429
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• 2007

The demand for pharmaco-economic data has increased since the introduction of positive list system for drug insurance. A survey was conducted for pharmaceutical companies, universities and hospitals to find the current states and barriers for pharmaco-economic studies in Korea. The results showed that even those who are in charge of pharmaco-economic studies at companies/universities had a limited technical expertise. Government should pay more attention to the education of the relevant manpower, and the production of national statistics needed for economic evaluation.