LIFE INSURANCE DEMAND IN BOSNIA AND HERZEGOVINA: STATISTICAL ANALYSIS

Basit Öğe Kaydı
dc.contributor.authorSatrovic, Elma
dc.date.accessioned2025-03-06T21:04:30Z
dc.date.available2025-03-06T21:04:30Z
dc.date.issued2019
dc.departmentÇağ Üniversitesi
dc.description.abstractThe focus of this research is to examine the impact of socio-demographic determinants and income on demand for life insurance in Bosnia and Herzegovina (B&H). Proxy variable of life insurance demand is the annual life insurance premium per capita in B&H. Socio-demographic determinants that are analyzed are: gender, marital status, educational level, age, employment status and number of family members. Questionnaire consists of 13 questions. Number of respondents after eliminating missing data is 120. Since the distribution of dependent variable deviates from normal, non-parametric tests are considered appropriate. Seven hypotheses are tested. Results indicate that annual life insurance premium per capita in B&H does not depend on gender and there are significant differences between married and single respondents in life insurance premium that they pay on annual basis. Results also show that the increase inincome increases the life insurance demand and the significant impact of educational level. As a concluding remark actuaries and life insurance companies should pay much attention to: marital status, educational level and income while creating life insurance policies. Hence, this research can serve as a useful insight for actuaries to easily charge life insurance products and to support life insurance development strategy in B&H.
dc.description.abstractThe focus of this research is to examine the impact of socio-demographic determinants and income on demand for life insurance in Bosnia and Herzegovina (B&H). Proxy variable of life insurance demand is the annual life insurance premium per capita in B&H. Socio-demographic determinants that are analyzed are: gender, marital status, educational level, age, employment status and number of family members. Questionnaire consists of 13 questions. Number of respondents after eliminating missing data is 120. Since the distribution of dependent variable deviates from normal, non-parametric tests are considered appropriate. Seven hypotheses are tested. Results indicate that annual life insurance premium per capita in B&H does not depend on gender and there are significant differences between married and single respondents in life insurance premium that they pay on annual basis. Results also show that the increase in income increases the life insurance demand. Furthermore, results show there is a significant relationship between respondent’s attitudes towards life insurance development and educational level. As a concluding remark actuaries and life insurance companies should pay much attention to: marital status, educational level and income while creating life insurance policies. Hence, this research can serve as a useful insight for actuaries to easily charge life insurance products and to support life insurance development strategy in B&H.
dc.identifier.endpage165
dc.identifier.issn2602-3474
dc.identifier.issn2602-3474
dc.identifier.issue2
dc.identifier.startpage141
dc.identifier.urihttps://hdl.handle.net/20.500.12507/2515
dc.identifier.volume2
dc.language.isoen
dc.publisherNevşehir Hacı Bektaş Veli Üniversitesi
dc.relation.ispartofKapadokya Akademik Bakış
dc.relation.publicationcategoryMakale - Ulusal Hakemli Dergi - Kurum Öğretim Elemanı
dc.rightsinfo:eu-repo/semantics/openAccess
dc.snmzKA_DergiPark_20250215
dc.subjectactuaries
dc.subjectlife insurance demand
dc.subjectnon-parametric tests
dc.subjectsocio-demographic determinants
dc.subjectactuaries
dc.subjectlife insurance demand
dc.subjectnon-parametric tests
dc.subjectsocio-demographic determinants
dc.titleLIFE INSURANCE DEMAND IN BOSNIA AND HERZEGOVINA: STATISTICAL ANALYSIS
dc.title.alternativeLife Insurance Demand in Bosnia and Herzegovina: Statistical Analysis
dc.typeArticle

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