The Relationship Between Insurance And Economic Growth

Şenol, Zekai; Zeren, Fatma; Çanakçi, Mehmet

doi:10.14254/1800-5845/2020.16-4.12

Cited by 11 publications

(4 citation statements)

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“…Authors (Lapinskienė et al, 2017;Tunčikienė et al, 2017) investigated economic growth, greenhouse gas emissions and other factors concerning health system occupational safety and health services. Implications created by (Senol et al, 2020) bring the conclusion that life insurance contributes more to economic growth with the long-term and regular resources it provides to save public health. Scientist (Svabova et al, 2020) analyzed the earnings level and fraudulent manipulation in financial reporting in decreasing the population's wealth.…”

Section: Literature Reviewmentioning

confidence: 99%

Why do regions differ in vulnerability to СOVID-19? Spatial nonlinear modeling of social and economic patterns

Kuzmenko¹,

Vasylieva²,

Vojtovič³

et al. 2020

Economics &Amp; Sociology

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Certain groups of determinants (economic, environmental, social, healthcare) with the highest vulnerability identify the reasons for regional differentiation in morbidity and mortality from COVID-19. This defines the necessity to find appropriate combinations of factors characterizing the vulnerability of a region. The methodology and tools to explain the regional specifics of population vulnerability to COVID-19 are investigated through a systematic consideration of many public health factors, environmental, social and economic specific nature of regions. The aim of the article is to study the reasons for regional differentiation of population vulnerability (morbidity and mortality rates) from COVID-19. The authors investigate a nonlinear spatial model in which the stepwise algorithm of individual factor variables is added/removed from the model specifications step by step by the Aitken method depending on their correlation with morbidity and mortality from COVID-19 in the region. The Farrar-Glober method is used to eliminate the multicollinearity of factors, the Spearman test is used to detect the heteroskedastic effect, and the Darbin-Watson test is used to check the presence of autocorrelation between the residues. As a result, the specification of the model with the highest adequacy in terms of p-value and tstatistics is formed. Relevant socioecological-economic vulnerability indices of regions to mortality and morbidity from COVID-19 are identified. The obtained results allow making adjustments in the state and regional programs concerning the mobilization of economic and healthcare systems.

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Section: Literature Reviewmentioning

confidence: 99%

Why do regions differ in vulnerability to СOVID-19? Spatial nonlinear modeling of social and economic patterns

Kuzmenko¹,

Vasylieva²,

Vojtovič³

et al. 2020

Economics &Amp; Sociology

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“…The Insurance Industry (II) plays a vigorous role in a country's economy, on a par with nancial institutions such as banks, stock markets and others. In agreement with Senol et al (2020), the insurance business only works if there is a risk factor, which arises as a result of the activities of people, entrepreneurs and investors. Subsequently, these risks are transferred to the insurance company through a subscription, so all the concerns inherent in the risk become the responsibility of the insurance company, allowing the contractor to carry out their leisure or work activities in a more relaxed manner.…”

Section: Insurance Industrymentioning

confidence: 99%

Company Management in the Insurance Industry: Valuing Employees and Their Commitment to Work

Serrasqueiro,

Félix,

Veiga

2023

Preprint

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The role of employees within an organizational has become the subject of research, both in academia and in companies themselves. Nowadays, it is important to realize that companies must value the way they manage their relationships with employees, so that they can create value and benefits for both parties. The aim of this research is to analyze which aspects lead to greater commitment on the part of employees and what makes them feel valued in their organizations. To meet this objective, a quantitative methodology was used, through the application of a questionnaire to various employees in the insurance industry. The results show a positive relationship between leadership, the inclusion of employees and their commitment to work, and also that participation in decision-making positively influences their satisfaction, appreciation and loyalty to the company they work for. It can therefore be concluded that investing in employees, as well as increasing their satisfaction and commitment, is crucial for sustainable growth and organizational success.

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“…It was found that economic growth responds favorably to the activities of insurance businesses. Senol, Zeren, and Canakci (2020) study on the effect of insurance companies on economic growth, which was done in 36 nations, found that these businesses had a beneficial effect. Jude (2014) evaluated the effectiveness of Nigeria's development insurance program, which aims to boost grassroots involvement in the insurance industry.…”

Section: Empirical Reviewmentioning

confidence: 99%

Reviving economic recession and the role of insurance companies in Nigeria

Raji

Isiaka

Siji

2023

jcrbef

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The persistent occurrence of poor economic condition and economic recession has put the policy makers on the possible and appropriate approaches to tackle the economic problem. Despite the efforts expended both empirically and theoretically to curb the menace, the economy is still vulnerable to macroeconomics shocks. Therefore, this study investigated the role of insurance companies on revival of reviving economic recession in Nigeria. The study covers the period of 25 years from 1996 to 2020 and data were gathered from CBN statistical bulletin, 2020 edition. Data on economic recession was represented with dummy variable such that “0” represents the period of positive economic growth rate while “1” represents the period of negative growth rate. Data on insurance investment, insurance asset, number of insurance companies and insurance contribution to GDP were considered to measure insurance performance. The model was specified with Ordinary Least Square and multiple regression methods. It was shown that insurance asset, insurance investment and insurance performance were found to statistically significant while numbers of insurance companies were found to statistically insignificant. The result revealed that insurance asset is not capable of reducing economic recession during the period under review but insurance investment, insurance performance and numbers of insurance companies have proven to be sufficient tools to reduce economic recession. Based on these findings, the study concluded that insurance companies played a significant role in reviving poor economic condition. The study recommended that adequate attention should be given to insurance companies in order to fulfill their full potential.

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The Relationship Between Insurance And Economic Growth

Cited by 11 publications

References 0 publications

Why do regions differ in vulnerability to СOVID-19? Spatial nonlinear modeling of social and economic patterns

Why do regions differ in vulnerability to СOVID-19? Spatial nonlinear modeling of social and economic patterns

Company Management in the Insurance Industry: Valuing Employees and Their Commitment to Work

Reviving economic recession and the role of insurance companies in Nigeria

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