• Title/Summary/Keyword: insurance claim payout

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Developing of Construction Project Risk Analysis Framework by Claim Payout and its Application

  • Kim, Ji-Myong;Park, Young Jun;Kim, Young-Jae;Yu, YeongJin
    • International conference on construction engineering and project management
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    • 2015.10a
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    • pp.192-194
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    • 2015
  • The growing size and complex process in construction project recently leads to increase risk and the losses as well. Even though researchers have identified the major risk indicators, there is lack of comprehensive and quantitative research for identifying the relationship between the risk indicators and economic losses associated with construction projects. To address this shortage of research, this study defines risk indicators and create a framework to assess the influence of economic losses from the indicators. An insurance company's claim payout record was accepted as the dependent variable to reflect the real economic losses. Based on the claims, we categorized the causes and results of accidents. To establish framework, built environment vulnerability indicators and geographical vulnerability indicators were employed as the risk indicators. A Pearson correlation analysis was adopted to validate the relationship with loss ratio and risk indicators. Consequently, this framework and its results may offer significant references for under writers of insurance companies and loss prevention activities.

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Quantification Model Development of Human Accidents based on the Insurance Claim Payout on Construction Site (건설공사보험 사례를 활용한 건설현장 인명사고 정량화 모델 개발)

  • Ha, Sun-Geun;Kim, Tae-Hui;Son, Ki-Young;Kim, Ji-Myong
    • Journal of the Korea Institute of Building Construction
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    • v.18 no.2
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    • pp.151-159
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    • 2018
  • Accident rate in the construction industry of South Korea is increasing every year, and it represents the highest percentage among industries. This shows that activities performed to prevent safety accidents in the country are not efficient when it comes to reduce the accident rate. In order to resolve this issue, a model for the prediction of human accidents should be established. In addition, it is required a quantification study based on pattern of human accidents. Therefore, the objective of this study is to quantify uncertainty of human accidents risk and predict how to change in various circumstances by using Monte Carlo Simulation. To achieve the objective, first, pattern of human accidents was defined. Second, insurance claim payout and information of human accidents during 14 years in construction site were collected. Third, descriptive analysis is conducted to determine the characteristics of the accident pattern. Fourth, to quantitatively analyze the pattern of the human accidents, the population of each accident occurrence and payout were estimated. Finally, estimated populations was analyzed according to characteristics of distribution by using Monte carlo simulation. In the future, this study can be used as a reference for developing the safety management checklist in construction site and development of prediction models of human accident.

A Study on the Online-based one-stop private health insurance claims (온라인 기반 원스톱 실손의료보험료 청구에 관한 연구)

  • Lee, Kyounghak;Kang, Min-Soo;Lee, Jae-Yeul
    • Journal of Digital Convergence
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    • v.14 no.4
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    • pp.231-237
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    • 2016
  • The private health insurance covers areas that are not covered by the national health insurance to reinforce insurance guarantee. Realistically, however, many people renunciate small sum insurance claims because the inconvenient claim procedures require a certificate from the hospital for resubmission to the insurance company, which is very time consuming. Therefore, One-stop insurance payout claiming system that is capable of one stop processing of the issuance of e-page safer technology-based certification to claiming of insurance payout by utilizing authorized electronic address (#-mail) through the utilization of private information concealment technology and identification certification technology for the convenience of the subscribers and the simplification of operation was developed.

A Basic Study on Quantification Model Development of Human Accidents based on the Insurance Claim Payout of Construction Site (건설공사보험 사례를 활용한 건설현장 인명사고 정량화 모델 개발 기초연구)

  • Ha, Sun-Geun;Kim, Tae-Hui;Kim, Ji-Myong;Jang, Jun-Ho;Son, Ki-Young
    • Proceedings of the Korean Institute of Building Construction Conference
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    • 2017.11a
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    • pp.195-196
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    • 2017
  • The number of human accidents in the construction industry is increasing every year, and it constitute the highest percentage among industry. This means that activities performed to prevent safety accidents in the country are not efficient to reduce the rate of accidents in the construction industry. In order to solve this issue, research has been conducted from various perspectives. But, research regarding to quantification model of human accidents is insufficient. the objective of this study is to conduct a basic study on quantification model development of human accidents. To achieve the objective, first, Cause of accident is defined the through literature review. Second, a basic statistic analysis is conducted to determine the characteristics of the accident causes. Third, the analysis is conducted after dividing into four categories : accumulate rate, season, total construction cost, and location. In the future, this study can be used as a reference for developing the safety management checklist for safety management in construction site and development of prediction models of human accident.

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A Basic Study for Quantification Model Development of Human Accidents on Construction Site in South Korea (한국 건설현장의 인명사고 리스크 정량화 모델 개발기초 연구)

  • Oh, June-Seok;Lee, Joo-Hyeong;Kim, Tae-Hee;Son, Ki-Young;Son, Seung-Hyun
    • Proceedings of the Korean Institute of Building Construction Conference
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    • 2019.05a
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    • pp.45-46
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    • 2019
  • Accident rate in domestic construction industry has been increased rapidly in every year. In particular, the rate of death has been shown very high compared with other industries. It means that safety activities performed by government is not effective in reducing the rate of accident. To solve these problems, the risk factors should be predicted in advance, controlled, monitored and managed from start of project to end of project. However, most studies have been conducted by using frequency of occurrence of accident and only listed the importance of risk. Therefore, the objective of this study is to provide basic material to develop risk quantifying model for human accidents on construction site in South Korea. In the future, it is expected to be used as a reference of study on developing safety mangement checklist in construction industry and model for forecasting accident.

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Quantification Model Development of Human Accidents on External Construction Site by Applying Probabilistic Method (확률론적 기법을 활용한 건설현장 외부 인명피해 정량화 모델 개발)

  • Ha, Sun-Geun;Kim, Tae-Hui;Son, Ki-Young;Kim, Ji-Myong;Son, Seung-Hyun
    • Journal of the Korea Institute of Building Construction
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    • v.18 no.6
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    • pp.611-619
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    • 2018
  • The researches have only conducted regarding construction safety management and risk on interior construction site(workers) and is insufficient about the exterior construction site(third party). As a result, ordinary people who were near construction sites have injured and hold a negative view when they think about the construction industry because construction industry have been exposed to them having a high accidents rate through media. In addition, the importance of industrial disaster prevention is emphasized at this point in time, the overall safety management system should be constructed with considering construction site external(third human) for improving the negative image of the construction industry among ordinary people. Therefore, the objective of this study is to develop the quantification model of human accident utilizing the insurance claim payout occurred construction site exterior(third party). In the future, it can be used as a reference for developing the safety management checklist in construction site interior exterior and development for forecasting control system of human accident.

Risk Factors Analysis and Quantitative Risk Assessment Model for Plant Construction Project (플랜트 건설 리스크 분석 및 리스크 정량화 모델 개발에 관한 연구)

  • Ahn, Sung-Jin;Kim, Tae-Hui;Nam, Kyung-Yong;Kim, Ji-Myong
    • Journal of the Korea Institute of Building Construction
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    • v.19 no.1
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    • pp.77-86
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    • 2019
  • Due to the increasing demand for and complexity of plant construction projects, unpredictable risk factors are on the consequent increase. For that reason, the quantitative risk analysis is being called for, in order for the development of a risk assessment model using risk indicators for the plant construction projects. This study used the claim payout data collected at a global insurance company to reflect the actual financial losses in plant construction projects as dependent variables in the risk assessment model. In terms of independent variables, the geographic information, i. e., landform, and the construction information including test-run, schedule rate, total cost and duration are adopted. In addition, this study suggests that the regression model containing such independent variables that are statistically significant can be applied to as a foundational guideline for the plant construction project risk analysis during the phase of construction and commissioning.