Kamardeen, I (2007) A fuzzy knowledge-based system for premium-rating of workers' compensation insurance for construction projects. PhD thesis, National University of Singapore, Singapore.
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. In 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. 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 and thereby minimising insurers' financial risks.
| Item Type: | Thesis (Doctoral) |
|---|---|
| Thesis advisor: | Low, S P |
| Uncontrolled Keywords: | hazards; liability; market; market condition; insurance; safety; questionnaire survey; client; construction worker; interview |
| Index terms: | knowledge-based system, construction industry, implementation, fatalities, construction worker, compensation, insurance, commitment, market condition, literature review, strategy, survey, interview, liability, data analysis, injury, construction project, questionnaire |
| Subjects: | industry analysis, liability law, health conditions and diseases, production management, health risk and incident analysis, management, artificial intelligence, data analysis and analytics, contractual arrangements, economic analysis, psychology, economic and policy analysis, dispute resolution, practitioner, data collection methods |
| Topics: | Procurement, Project Management, Health and Safety, Legal Issues, Roles and Professions, Research Practice, Business Strategy, Organizational Design, Digital Applications |
| Descriptive scope: | 5 PCTEA |
N.B. Descriptive scope is a count of how many of the five facets of empirical research are indicated by the words used in title, abstract and keywords. It is not intended as a judgement on the research; merely a count of the kind of word we would expect to indicate Phenomenon, Concepts, Theoretical framing, Empirical techniques, Analytical techniques. If all five are present, then a code of “5 PCTEA” will indicate this. If you feel the coding for this record is questionable, we welcome discussion around the terms we matched or the way we categorized them. The facet you would expect may not be coded, or a facet may be coded inappropriately. This can also bear on a larger question, of which facets should be treated as defining in construction management research. Please get in touch, and we will look at it. More details here