• Title/Summary/Keyword: claim payouts

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An Analysis of Accident Causes in Construction project by Using Insured Claim Payouts (건설공사보험 손실액을 활용한 사고원인 분석연구)

  • Yu, Yeong-Jin;Kim, Sang-Ho;Yang, Sungpil;Kim, Ji-Myong;Son, Kiyoung
    • Proceedings of the Korean Institute of Building Construction Conference
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    • 2015.11a
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    • pp.60-61
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    • 2015
  • In recent years, the accidents in construction projects are continuously increasing due to their complexity and variety. However, few studies have been conducted regarding the risk prediction model and the database of risk assessment in construction projects. To address of these issues, the objective of this study is to analyze the accident causes by using insured claim payouts of insurance companies. First, the descriptive analysis of accidents causes is conducted according to scheduling rate, season, and total construction costs. Second, the correlation analysis is conducted between accidents causes and total construction costs. In the future, the risk assessment model can be developed to quantify the accident causes in construction projects to estimate claim payouts of insurance companies.

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Development of Natural Hazard Risk Map using Insured Claim Payouts and Its Application (보험 손실액을 활용한 자연재해 위험 지도 개발 및 적용방안 연구)

  • Kim, Ji-Myong;Park, Young Jun
    • Proceedings of the Korean Institute of Building Construction Conference
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    • 2015.05a
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    • pp.257-258
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    • 2015
  • The amount of damages caused by natural hazards is consistently growing due to the unusual weather and extreme events. At the same time, property damage by natural hazards is rapidly increasing as well. Hence, we need systematic anti-disaster activities and consulting that can react to such a situation. To address these needs, we investigated and analyzed insured claim payouts from natural hazards by administrative area, and calculate the risk index utilizing GIS. According to the index, this map is identifying the areas of greatest natural hazard risk. The ranking of natural disaster vulnerability based on the risk index, and risk grades were divided into five based on the ranking. This map integrates the natural hazard losses to assist in comprehensive and effective loss prevention activities using analysis of regional loss claims from natural hazards. Moreover, this map can be as utilized as loss mitigation and prevention activities to verify the distribution of exposure and hazards.

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A Basic Study on the Qualitative Risk Assessment Model for Building Construction Sites Based on Claim Payouts (건설공사 위험 정량화 모델 개발을 위한 기초 연구)

  • Yu, Yeong-Jin;Son, Kiyoung;Kim, Ji-Myong
    • Journal of the Korea Institute of Building Construction
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    • v.16 no.6
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    • pp.487-495
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    • 2016
  • The losses of accidents in the construction industry was significantly increased during the past decades. Therefore, the study of risk management measures in the domestic construction has become very important, and the inherent risk factors need to derive and analyze them based on the quantified method. However, most studies on the construction risk are conducted finding on the qualitative way. This study analysis the accident records from actual construction sites as a quantities study. A correlation analysis and regression analysis are adopted to identify the risk factors and develop a model. The results of this study are expected to be evolve through the accumulated effect and verification of data in the future through continuous feedback.

Risk Analysis using Construction Insurance Claim Payouts (건설공사보험 피해 보상금 지급액을 활용한 리스크 분석)

  • Yu, Yeong-Jin;Son, Kiyoung;Kim, Ji-Myong
    • Journal of the Korea Institute of Building Construction
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    • v.16 no.4
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    • pp.349-357
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    • 2016
  • Recently, the quantity of risk in construction project has been inflated due to the fact that current construction projects have been large and complicated. Therefore, a study on the risk management methods is necessary that can predict and respond to the need in complicated modern construction projects. In this study, the objective is to analyze the cause of accident in actual construction sites and develop a risk assessment model based on insurance claims records. To reach the goal of this study, first, the frequency and severity of accidents are analyzed the causes of accidents based on the classification; progress rate, season, and total construction costs. Second, a risk assessment model is developed by utilizing a multiple regression analysis. The dependent variable is loss ratio of material damage and three categories; natural hazards, geographic information, and construction method & ability, are used as the independent variables. The model's adjusted R-square is 0.455. The contributions of this study will be used as a material for a quantitative risk analysis model development and review of the construction risk factors for future study.