THE ANALYSIS OF THE FINANCIAL POSSIBILITIES ON THE LIFE INSURANCE MARKET AFTER ECONOMIC CRISIS - CASE OF REPUBLIC OF CROATIA

Ticijan Perusko () and Iva Hasic ()
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Ticijan Perusko: Juraj Dobrila University of Pula, Faculty of Economics and Tourism “Dr. Mijo Mirkovic” Pula
Iva Hasic: Juraj Dobrila University of Pula, Faculty of Economics and Tourism “Dr. Mijo Mirkovic” Pula

Interdisciplinary Management Research, 2015, vol. 11, 409-420

Abstract: The global economic crisis has caused a series of changes in the markets around the world. Following such an occurrence, the planning of future trends has become essential in order to appropriately use more modest financial possibilities available. The period after the global economic crisis has set different trends in motion characterised by low growth rates. Such trends have also affected the life insurance market. New economic circumstances which swept through the life insurance market require different analysis and forecasts. In planning the movements and financial possibilities in the life insurance market, it is necessary to identify specific qualities which have been created in the market following the economic crisis. Scientific statistical and mathematical methods were used in order to develop a model which meets the said prerequisites. The aim of this paper is to show the method of creation and implementation of the model for the life insurance market for the period following the global economic crisis. The implementation of the model is illustrated for the Republic of Croatia life insurance market. The information obtained has multiple application. It provides prognostic information about the future annual financial values of the life insurance market. The course of future market trends is determined by using the financial trend analysis in the forecast periods, as well as by comparison with the values realised in previous years. The information obtained by the model is useful for stakeholders in the life insurance market as additional information for business strategy and income planning.

Keywords: life insurance; planning information; economic crisis; insurance market; prognostic model (search for similar items in EconPapers)
JEL-codes: G22 I13 P33 (search for similar items in EconPapers)
Date: 2015
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