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Demand for Life Insurance—An Empirical Analysis in the Case of Poland

Author

Listed:
  • Adam Sliwinski

    (Warsaw School of Economics, Al. Niepodleglosci 162, Poland. E-mails: asliwin@sgh.waw.pl; tomich@sgh.waw.pl; mroszki@sgh.waw.pl)

  • Tomasz Michalski

    (Warsaw School of Economics, Al. Niepodleglosci 162, Poland. E-mails: asliwin@sgh.waw.pl; tomich@sgh.waw.pl; mroszki@sgh.waw.pl)

  • Malgorzata Roszkiewicz

    (Warsaw School of Economics, Al. Niepodleglosci 162, Poland. E-mails: asliwin@sgh.waw.pl; tomich@sgh.waw.pl; mroszki@sgh.waw.pl)

Abstract

This paper presents the results of a study of the determination of life insurance demand in Poland. A characterisation of the Polish life insurance sector is given, including a comparison with the top ten emerging markets and other CEE countries such as Hungary and the Czech Republic. The characterisation is followed by a review of the previous studies of life insurance determinants. Subsequently, factor analysis is applied to distinguish independent factors that determine demand for life insurance. Then a linear regression model is used to identify both the factors that have determined life insurance in Poland and the extent thereof. However, as opposed to previous studies of life insurance demand, only distinguished factors are used as an independent variable. The study confirms that factors of an economic and financial nature strongly stimulate the demand for life insurance, which agrees with previous studies. However, some results contradict the previous findings such as the factor that includes variables such as education level and social benefits.

Suggested Citation

  • Adam Sliwinski & Tomasz Michalski & Malgorzata Roszkiewicz, 2013. "Demand for Life Insurance—An Empirical Analysis in the Case of Poland," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 38(1), pages 62-87, January.
    • Handle: RePEc:pal:gpprii:v:38:y:2013:i:1:p:62-87
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    Citations

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    Cited by:

    1. Sisira Kumara NARADDA GAMAGE, & Li LIN, & Ihtisham ul HAQ, 2016. "Economic & Demographic Characterictics, Social Capital And Demand For Life Insurance: Evidence From Central Region Of Sri Lanka," EcoForum, "Stefan cel Mare" University of Suceava, Romania, Faculty of Economics and Public Administration - Economy, Business Administration and Tourism Department., vol. 5(2), pages 1-9, July.
    2. Adam Śliwiński & Łukasz Kuryłowicz, 2021. "Usage‐based insurance and its acceptance: An empirical approach," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 24(1), pages 71-91, March.
    3. Markéta Arltová & Tomáš Kábrt, 2018. "Hlavní determinanty ovlivňující poptávku po životním pojištění v České republice [Analysis of Determinants, Influencing Life Insurance Demand in the Czech Republic]," Politická ekonomie, Prague University of Economics and Business, vol. 2018(3), pages 344-365.
    4. Chimuka Leo Haamukwanza, 2021. "To insure or not to insure—the role that government and insurance practice should play: a thematic comparison of the urban poor and the workers in the pensions and insurance industry," SN Business & Economics, Springer, vol. 1(9), pages 1-20, September.

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