THE IMPACT OF THE UNEMPLOYMENT RATE ON THE INSURANCE DEVELOPMENT IN ROMANIA. STATISTICAL APPROACHES

Abstract

A significant component of a developed economy, insurance holds a prominent role in European countries, its own contribution being noticed in the GDP of every country. The involvements of unemployment on the insurance market size have been reviewed in numerous specialized papers internationally. Based on these results, but also on the fact that in Romania there have not been measured such statistical correlations showing to what extent the unemployment rate influences the main indicators in the insurance field, in this research we analyze the statistical correlation between results which reveal the dimension of the insurance market - the penetration degree and the insurance density - and the unemployment rate. To perform the analysis, we apply statistical methods, for the period 1997-2015. The results are analysed in the context of the relevant international statistics, as well as reported to the Romanian general economic framework.

Keywords

• insurance density
• penetration degree of insurance
• unemployment
• statistical correlations.