Professional paper
EVALUATION OF DECISION-MAKING BODIES IN INSURANCE COMPANIES IN THE REPUBLIC OF SERBIA WITH THE AIM OF REALISTIC PRESENTATION OF INSURANCE COSTS USING T-TEST AND CORRELATION ANALYSES
Miloš Lutovac
Danijela Radenković
Valentina Mirković
Jovana Bulatović
Abstract
The authors presented the results of forecasting the total cost of the company in
relation to insurance in large and medium-sized companies in the Republic of Serbia
by applying multiple linear regression. This was done based on the evaluated six factors of influence after the evaluations received by the management of the administrative bodies of four insurance companies operating in the Republic of Serbia. The
coefficient of determination (R2) of 0.441 was obtained by regression analysis, based
on which it can be seen that a value of 44.1% of the total variance is obtained based onthe given prediction model. The obtained model is statistically significant, because its
significance (p<0.0005, F=19.442) is lower than the observed statistical level. Therefore,
a company’s total insurance costs can be predicted based on six influencing factors.
Then, the individual contribution of each independent variable to the prediction of
the company’s total cost of insurance was observed. For the prediction of the total cost
of the company, all independent factors make a significant contribution, except for the
analyzed factor, the satisfaction of the insured (Table 2).
Keywords
management bodies of insurance companies, company size, insurance costs
Hrčak ID:
320117
URI
Publication date:
31.7.2024.
Visits: 0 *