Essays on warranty claims

Guide(s)

Kumar, U Dinesh

Department

Decision Sciences

Area

Decision Sciences

University

Indian Institute of Management Bangalore

Place

Bangalore

Publication Date

3-31-2023

Year Awarded

March 2023

Year Completed

March 2023

Year Registered

June 2014

Abstract

In the second essay, we try to uncover the latent segments in the population that share dependence effects, owing to the unobserved risk factors. This would help the manufacturer identify segments in the population that are more likely to result in claims or are more ‘frail’ than the others. This is achieved through a two-step process. First, the hidden components have been obtained via clustering of survival data using the Weibull mixture model approach. Such an approach will not only serve as representative for unobservable covariates via cluster membership but also provide a way by which the product units can be classified into different subpopulations prior to statistical lifetime modelling. The second step of the approach incorporates cluster membership into the shared frailty model framework. Thus, this essay proposes a novel approach to obtain those segments in the population which share similar risks owing to the unobserved factors and are highly correlated. The third essay studies the impact of dealer characteristics on time between claims and tries to identify the role of dealers in achieving the ‘right first time’ objective. In addition, this essay also provides a way to rank the dealers based on their unobserved characteristics using empirical Bayes methods and consequently enables best practices to be followed across the dealers. To the best of my knowledge, this is the first study examining dealer’s role on time between claims and provides a method to compare their relative performance. The contribution of this thesis is to provide the manufacturer with a new perspective to look into different causes of variability apart from previously considered causes, i.e., usage and risk attitudes. Further, it provides a means to incorporate those causes in the model-building process for a better warranty management.

Pagination

iii, 221p.

Copyright

Indian Institute of Management Bangalore

Document Type

Dissertation

DAC Chairperson

Kumar, U Dinesh

DAC Members

Prakhya, Srinivas; Murthy, Rajluxmi V

Type of Degree

Ph.D.

Relation

DIS-IIMB-FPM-P23-14

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