Abstract

Most of the current rating methods depend on financial information and solvency level or tangible capitals of insurance companies. Considering intangible capitals in evaluating and rating of the companies has been emphasized by many investigators. A key point in this regard is how the intangible criteria are identified and incorporated along with tangible criteria through a rating process. Application of combined multiple criteria decision making methods have special efficiency. For this, important criteria in rating process are first screened by experts’ opinions. DEMATEL method is then used here to authenticate the identified criteria and retain a logical collection of them. Finally, multiple criteria decision-making method PROMETHEE II is applied. Using data from a sample of insurance companies listed in Tehran Stock Exchange for a period of 2010–2012 and applying the combined method, it was observed that Alborz Company has the highest and Dana Company has the lowest rate. Application of the Content Analysis for identification of intangible capitals constitutes the novelty of our investigation.

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