• May 15, 2019 News!Vol.7, No.5- Vol.8, No.4 has been indexed by EI (Inspec).   [Click]
  • Aug 01, 2018 News! [CFP] 2020 the annual meeting of IJMO Editorial Board, ECDMO 2020, will be held in Athens, Greece, February 15-17, 2020.   [Click]
  • Sep 30, 2019 News!Vol 9, No 6 has been published with online version. 12 original aritcles from 6 countries are published in this issue.    [Click]
General Information
    • ISSN: 2010-3697  (Online)
    • Abbreviated Title: Int. J. Model. Optim.
    • Frequency: Bimonthly
    • DOI: 10.7763/IJMO
    • Editor-in-Chief: Prof. Adrian Olaru
    • Executive Editor: Ms.Yoyo Y. Zhou
    • Abstracting/ Indexing: ProQuest, Crossref, Electronic Journals Library, Google Scholar, EI (INSPEC, IET), EBSCO, etc.
    • E-mail ijmo@iacsitp.com
Prof. Adrian Olaru
University Politehnica of Bucharest, Romania
I'm happy to take on the position of editor in chief of IJMO. It's a journal that shows promise of becoming a recognized journal in the area of modelling and optimization. I'll work together with the editors to help it progress.
IJMO 2011 Vol.1(3): 250-257 ISSN: 2010-3697
DOI: 10.7763/IJMO.2011.V1.44

Conceptualising and Simulating Insurance Consumer Behaviour: an Agent-Based-Model Approach

Aurelija Ulbinaitė, Marija Kučinskienė, and Yannick Le Moullec

Abstract—The ever increasing pressure for better competitiveness in the insurance industry calls for models, methods and tools that can improve the analysis and understanding of insurance consumer behaviour. In this paper we elaborate on the conceptualisation of insurance consumer behaviour and propose a possible underlying model that reflects its core features. Subsequently we describe an agent-based-model simulation environment that enables the analysis of consumer behaviour towards insurance services. The proposed modelling approach takes into account both the price-quality trade-off of the insurance services, including the decoy effect, and the influence of the social network of the consumers. Experimental results show that the proposed approach enables the simulation of the decoy effect and the identification of the best price-quality trade-off of the decoy when promoting insurance services against each other.

Index Terms—agent-based-model, competitiveness, consumer behaviour, decoy effect, insurance services.

A. Ulbinaitė and M. Kučinskienė are with the Business Department, Vilnius University, Lithuania. E-mail: (aurelija.ulbinaite@ef.stud.vu.lt, marija.kucinskiene@ef.vu.lt).
Y. L. Moullec is with the Technology Platforms Section, Department of Electronic Systems, Aalborg University, Denmark (e-mail: ylm@es.aau.dk).


Cite: Aurelija Ulbinaitė, Marija Kučinskienė, and Yannick Le Moullec, "Conceptualising and Simulating Insurance Consumer Behaviour: an Agent-Based-Model Approach," International Journal of Modeling and Optimization vol. 1, no. 3, pp. 250-257, 2011.

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