International Journal of Global Operations Research
Vol. 3 No. 4 (2022): International Journal of Global Operations Research (IJGOR), November 2022

Analysis of the Application of the Integrated Catastrophe Risk Model Method for the Flood Insurance Program

Afifah, Nur (Unknown)
Joebaedi, Khafsah (Unknown)
Ismail, Muhammad Iqbal Al-Banna (Unknown)

Article Info

Publish Date
04 Nov 2022

Abstract

As the flood rises continue to grow, well-designed insurance programs are becoming an important instrument in flood risk management. One of the obstacles in the flood insurance program is the method used to calculate the premium value. This thesis refers to the Integrated Catastrophe Risk Model (ICRM) which consists of two probability events and stochastic optimization procedures with respect to observation of site-specific risk. The application of the model is illustrated in the study area simulation data. In this thesis, analysis of various aspects of trade-off, new ex-post variables, opportunity occurrence 1 and 2 and minimization of loss function. From the results of research based on these four aspects it can be concluded that the use of Integrated Catastrophe Risk Model method in the optimal flood insurance program.

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Journal Info
International Journal of Global Operations Research
Website

Abbrev

ijgor

Publisher

Indonesian Operations Research Association

Subject

Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Engineering Mathematics

Description

International Journal of Global Operations Research (IJGOR) is published 4 times a year and is the flagship journal of the Indonesian Operational Research Association (IORA). It is the aim of IJGOR to present papers which cover the theory, practice, history or methodology of OR. However, since OR is ...