Preliminary communication
FACTORS INFLUENCING STRATEGIC DEVELOPMENT OF INSURANCE BROKERS MARKET İN THE CZECH REPUBLIC
Hana Stojanová
; Mendel University in Brno, Brno, Czech Republic, Faculty of Business and Economics, Department of Management
Veronika Blašková
; Mendel University in Brno, Brno, Czech Republic, Faculty of Business and Economics, Department of Management
Lukáš Janoušek
; Mendel University in Brno, Brno, Czech Republic, Faculty of Business and Economics, Department of Management
Abstract
The aim of the paper is to recognise the relationship among Gross Premiums Written and Average Gross Nominal Wage (Average Wage) in the Czech Republic. The literature review has characterised insurance market in the Czech Republic. Based on the secondary data of Czech Insurance Association, Czech Statistical Office and Czech National Bank has been created PESTEL analysis, determined the rate of influence of the factors influencing the insurance brokers, evaluated by scale from 1 to 5. The secondary data for regression analysis has been obtained from annual reports of CNB and CSO in period 1996 to 2015. The method of regression analysis has tested the relationship among average gross nominal wage as one of the macroeconomic factor and the “premiums written “which is used for measurement of the overall insurance market level in the Czech Republic. The model was verified through the economic, statistical and econometric verification. The statistical data has been elaborated in software Gretl. Part discussion and conclusion have been focused to the comparison of obtained results and reaction recommendation on upcoming predicted situations on the market.
Keywords
Strategic development; insurance market; brokers
Hrčak ID:
228704
URI
Publication date:
28.11.2019.
Visits: 1.190 *