Analysis of Insurance Performance in Iran’ Provinces Using HierarchicalClustering

Analysis of the performance of the insurance industry in the provinces of the 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 performance of 4 insurance indicators and one population indicator of the provinces of Iran (share of written premium, share of paid claim, per capita premium, insurance penetration rate and share of population) with hierarchical clustering. The result indicates that 3 clusters may be sufficient for the final partition of provinces. Tehran province according to large population, has large share of written premium and paid claim and therefore belongs to cluster 3, separately. Cluster 2 has the lowest share of written premium and therefore the lowest insurance penetration rate among other clusters and also it has higher per capita premium rather than cluster 1