RETAKAFUL CONTRIBUTIONS MODEL USING MACHINE LEARNING TECHNIQUES
Driven by the need to manage risk by the newly created Moroccan Takaful operators, the Moroccan Insurance and Social Welfare Control Authority has authorized the Central Reinsurance Company to create a ReTakaful window for the purpose of reinsuring Takaful operations. Nevertheless, the main challeng...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Bank Indonesia
2023-09-01
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| Series: | Journal of Islamic Monetary Economics and Finance |
| Subjects: | |
| Online Access: | https://jimf-bi.org/index.php/JIMF/article/view/1681 |
| _version_ | 1797370386013224960 |
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| author | Kouach Yassine EL Attar Abderrahim EL Hachloufi Mostafa |
| author_facet | Kouach Yassine EL Attar Abderrahim EL Hachloufi Mostafa |
| author_sort | Kouach Yassine |
| collection | DOAJ |
| description | Driven by the need to manage risk by the newly created Moroccan Takaful operators, the Moroccan Insurance and Social Welfare Control Authority has authorized the Central Reinsurance Company to create a ReTakaful window for the purpose of reinsuring Takaful operations. Nevertheless, the main challenge is determining the appropriate ReTakaful model for the Moroccan Islamic insurance sector by ensuring compliance with Shariah. With this in mind, this article aims to determine the optimal ReTakaful contributions model for the Moroccan Takaful industry via Machine Learning algorithms. We select the best model by comparing the performance of each algorithm. The achieved results of this study demonstrate the potential of using Machine Learning algorithms to compute ReTakaful contributions that are more suitable for Takaful operators and more optimal for the ReTakaful operator. |
| first_indexed | 2024-03-08T18:00:44Z |
| format | Article |
| id | doaj.art-e5d9eea9e40e49fc82db7bd1a4827059 |
| institution | Directory Open Access Journal |
| issn | 2460-6146 2460-6618 |
| language | English |
| last_indexed | 2024-03-08T18:00:44Z |
| publishDate | 2023-09-01 |
| publisher | Bank Indonesia |
| record_format | Article |
| series | Journal of Islamic Monetary Economics and Finance |
| spelling | doaj.art-e5d9eea9e40e49fc82db7bd1a48270592024-01-02T01:43:58ZengBank IndonesiaJournal of Islamic Monetary Economics and Finance2460-61462460-66182023-09-019351153210.21098/jimf.v9i3.16811681RETAKAFUL CONTRIBUTIONS MODEL USING MACHINE LEARNING TECHNIQUESKouach Yassine0EL Attar Abderrahim1EL Hachloufi Mostafa2University Hassan II of Casablanca, MoroccoUniversity Hassan II of Casablanca, MoroccoUniversity Hassan II of Casablanca, MoroccoDriven by the need to manage risk by the newly created Moroccan Takaful operators, the Moroccan Insurance and Social Welfare Control Authority has authorized the Central Reinsurance Company to create a ReTakaful window for the purpose of reinsuring Takaful operations. Nevertheless, the main challenge is determining the appropriate ReTakaful model for the Moroccan Islamic insurance sector by ensuring compliance with Shariah. With this in mind, this article aims to determine the optimal ReTakaful contributions model for the Moroccan Takaful industry via Machine Learning algorithms. We select the best model by comparing the performance of each algorithm. The achieved results of this study demonstrate the potential of using Machine Learning algorithms to compute ReTakaful contributions that are more suitable for Takaful operators and more optimal for the ReTakaful operator.https://jimf-bi.org/index.php/JIMF/article/view/1681retakaful, takaful, reinsurance, treaty, machine learning, probability of ruin. |
| spellingShingle | Kouach Yassine EL Attar Abderrahim EL Hachloufi Mostafa RETAKAFUL CONTRIBUTIONS MODEL USING MACHINE LEARNING TECHNIQUES Journal of Islamic Monetary Economics and Finance retakaful, takaful, reinsurance, treaty, machine learning, probability of ruin. |
| title | RETAKAFUL CONTRIBUTIONS MODEL USING MACHINE LEARNING TECHNIQUES |
| title_full | RETAKAFUL CONTRIBUTIONS MODEL USING MACHINE LEARNING TECHNIQUES |
| title_fullStr | RETAKAFUL CONTRIBUTIONS MODEL USING MACHINE LEARNING TECHNIQUES |
| title_full_unstemmed | RETAKAFUL CONTRIBUTIONS MODEL USING MACHINE LEARNING TECHNIQUES |
| title_short | RETAKAFUL CONTRIBUTIONS MODEL USING MACHINE LEARNING TECHNIQUES |
| title_sort | retakaful contributions model using machine learning techniques |
| topic | retakaful, takaful, reinsurance, treaty, machine learning, probability of ruin. |
| url | https://jimf-bi.org/index.php/JIMF/article/view/1681 |
| work_keys_str_mv | AT kouachyassine retakafulcontributionsmodelusingmachinelearningtechniques AT elattarabderrahim retakafulcontributionsmodelusingmachinelearningtechniques AT elhachloufimostafa retakafulcontributionsmodelusingmachinelearningtechniques |