analysis of insurance performance in iran’ provinces using hierarchicalclustering

Analysis of the performance of the insurance industry in the provinces ofthe country in different fields of insurance can be a reliable source for ceos, key employees,staff managers, agents and brokers. in this paper, we analyze the performanceof 4 insurance indicators and one population indicator of the provinces of iran (share ofwritten premium, share of paid claim, per capita premium, insurance penetration rateand share of population) with hierarchical clustering. the result indicates that 3 clustersmay be sufficient for the final partition of provinces. tehran province accordingto large population, has large share of written premium and paid claim and thereforebelongs to cluster 3, separately. cluster 2 has the lowest share of written premiumand therefore the lowest insurance penetration rate among other clusters and also ithas higher per capita premium rather than cluster 1