Research on reliability index and failure probability of inherent defect insurance from the insurance perspective
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View abstract on PubMed
Summary
This summary is machine-generated.Inherent Defect Insurance (IDI) is a financial tool for construction quality. This study develops a reliability model to analyze IDI claims and assess insurer risk, aiding scientific decision-making.
Area Of Science
- Construction Engineering
- Financial Risk Management
- Insurance Mathematics
Background
- Rising living standards increase demand for housing safety and comfort.
- Inherent Defect Insurance (IDI) has emerged as a quality guarantee for construction projects.
- China's IDI is growing, but its claim mechanisms lack in-depth analysis.
Purpose Of The Study
- To analyze influencing factors of construction quality-related insurance claims.
- To construct a reliability model for inherent defect risks in construction.
- To provide scientific methods for insurance companies' decision-making.
Main Methods
- Bibliometric analysis using VOSViewers to identify claim influencing factors.
- Development of an evaluation index system for inherent defects.
- Application of the PSO-LSSVR model to fit inherent defect performance functions.
- Derivation of reliability indices and failure probabilities based on engineering structure reliability principles.
Main Results
- Established an evaluation index system for inherent defects.
- Developed a performance function for inherent defects using the PSO-LSSVR model.
- Derived reliability indices and failure probabilities for IDI.
- Determined the relationship between underwriting policies, initial reserves, and risk levels.
Conclusions
- The study provides a reliability model for inherent defect risks in construction quality.
- Analysis of insurer anti-risk ability from a claims perspective is presented.
- Offers scientific analysis methods and theoretical basis for insurance company decision-making.
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