Designing an Optimal Portfolio Model for Export Insurance Policies: A Goal Programming Approach

This study aims to develop a multi-objective mathematical model for designing an optimal portfolio of export insurance policies. In response to the complex and dynamic nature of insurance markets, particularly in export-related sectors, the model considers three primary objectives: maximizing profit from export insurance sales, maximizing utility based on the historical profitability of insurance types, and minimizing the risk associated with underwriting export insurance. The proposed model incorporates a set of structural, boundary, and policy-based constraints derived from real-world data and expert consultation. These include restrictions on insurance coverage distribution, acceptable ranges for decision variables, and regulatory policies regarding premium share allocation. Unlike many previous studies, this research does not seek to solve the model numerically but rather focuses on the formal formulation of a realistic, applicable, and theoretically grounded optimization framework. The findings contribute to the body of knowledge in insurance portfolio modeling by offering a flexible tool that can be adapted for strategic planning in insurance firms dealing with export risks.

کلیدواژه ها:

Portfolio Optimization ، Multi-Objective Modeling ، Insurance Risk Management ، Mathematical Programming