A Fuzzy AHP-TOPSIS Model Based Case Study for Selecting Vehicles to Buy Casco Insurance under Limited Budget

Zafer YILMAZ* Abstract Traffic insurance is compulsory but car insurance (Casco) is optional in Turkey. Although there is a tendency to buy Casco insurance, the rate of people who do not buy Casco insurance is also worth to study on. Private and public companies which own many vehicles allocate significant amount of budget to buy Casco insurance every year. The economic crises periods usually force them to select the vehicles to buy Casco insurance among all vehicles they have. The design of the study as follows. First, the criteria about selecting the vehicles to buy Casco insurance are defined. Next, the weights of the criteria are found by using fuzzy AHP methodology. The alternative vehicles are sorted with respect to their priorities by using TOPSIS methodology. At the end of this study, a case study is performed that includes a proposal for private and public companies to select the vehicles among all vehicles they own to buy Casco insurance.