Decisive Factors in the Evolution of the Insurance Market in Romania

Abstract

The evolution of the insurance market in relation to certain economic, social, educational factors is the central point of our research work. Thus, starting from statistical data from the period 2015 – 2022 on the eight development regions in Romania, we analyzed the existing correlation level between the insurance market represented by the density of gross premiums in the case of general insurance, viewed as a dependent variable and other factors such as: growth economic represented by GDP/capita; the standard of living reflected by the average net salary and the average/family income, but also the level of education of people from a certain region on bachelor's, master's and doctoral study cycles, as independent variables. With the help of the statistical program Eviews, we highlighted the level and type of correlation between the variables, at the same time, after testing with certain statistical methods, reaching the outline of a regression model.

Keywords

• insurance
• economic growth
• standard of living
• level of education