Abstract: Insurance companies have business interests in a market’s demand for their products. Due to the lack of data, this report relies on a central assumption: the national savings rate is a meaningful indicator of that country’s gross life insurance expenditure. This study examines the correlation between savings rate and other major economic variables. We make certain hypotheses on effects of some of those variables, and later in the case study, we will comment on whether those hypotheses are affirmed or contradicted.
Introduction: How does a business grow and remain competitive? What factors should an insurance company consider in order to maintain its competitive advantage? These are some of the questions asked by leaders of the insurance industry everyday as they attempt to initiate, consolidate, and expand business in old and new markets alike. Economically, insurance companies need to look at both supply and demand for their products. In this paper we apply the tools of regression to gain an understanding of the demand for life insurance..
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