General Information

Project Registration Code: PN-III-P1-1.1-TE-2019-0554

Project Title: DETERMINANTS OF LIFE/HEALTH AND NON-LIFE INSURANCE CONSUMPTION IN EUROPEAN COUNTRIES. STRUCTURAL COMPOSITION OF ROMANIAN INSURANCE MARKET IN EUROPEAN CONTEXT: EMERGING VERSUS DEVELOPED COUNTRIES

Project Acronym: INSURSTRUCT

Project Executive Summary: From a scientific standpoint, the importance of the study is outlined on two levels of analysis.
The first level of analysis of the project aims to identify the determinants of the insurance demand on three main components (1) life/health insurance, (2) car insurance, and (3) agricultural insurance, for European emerging and developed countries. The importance of the insurance sector for the economic and financial development of emerging markets, allows us to deepen this analysis starting from the referential of developed countries, taking into account economic, socio-demographic and institutional factors generally valid for all types of insurances, as well as behavioral factors, specific for each insurance sector.
The second level of analysis focuses on explaining the structural composition of insurance markets. The evolution of a society on the underdeveloped – emerging- developed path implies major changes in human economic behavior, the emphasis shifting from subsistence to increasing production and ultimately to quality of life growth. Hence, the ratio between life insurance (including health insurance) and non-life insurance may indicate the balance an economy has between the quality of life and production. Moreover, the static and dynamic panel data regression models on EU countries will help us to identify the determinants of Insurance Structural Indices, and compare them between emerging and developed EU states. Besides, the indices mentioned above will be defined to highlight the insurance structural composition and the ratios between the insurance market and other macro-financial components such as credit and capital market.

Project Duration (month): 24

Keywords: non-life and life/health insurance, determinants of consumption, emerging and developed countries, panel data models, spatial econometrics

Expertise Domain: SH. SOCIAL SCIENCES AND HUMANITIES

Subdomain: SH1. Individuals, Markets and Organizations: Economics, finance and management

Main Research Area: SH1_4. Financial economics; banking; corporate finance; international finance; accounting; auditing; insurance

Secondary research area: SH1_6. Econometrics; operations research

Project Leader:
Simona Laura DRAGOS, PhD Assoc. Prof., Babes-Bolyai University, Cluj Napoca

Project members:
Codruta MARE, PhD Assoc. Prof., Babes-Bolyai University, Cluj Napoca
Gabriela Mihaela MURESAN, Teaching Assist., Babes-Bolyai University, Cluj Napoca
Alexandra Anca PURCEL, PhD Student, Babes-Bolyai University, Cluj Napoca
Alexandra PINTEA, PhD Student, Babes-Bolyai University, Cluj Napoca