<abstract xmlns="http://www.w3.org/1999/xhtml">

<p>Considering the changes caused by new technologies and the significance of insurance field for the economy, the objective of this research is to highlight how advanced technologies and innovations influence the insurance market, through econometric analysis at the European Union level. The research methodology consists of applying Bayesian network analysis, through Gaussian Graphical Models, based on data collected for the period 2013-2022. The variables include indicators both from the insurance market and from the field of new technologies, digital transformation and innovation. The research suggests that that there is a connection between digital transformations, new technologies and the insurance market, and the relationship between these variables is complex, with both favorable and unfavorable connections between the analyzed variables.</p>
</abstract>

Considering the changes caused by new technologies and the significance of insurance field for the economy, the objective of this research is to highlight how advanced technologies and innovations influence the insurance market, through econometric analysis at the European Union level. The research methodology consists of applying Bayesian network analysis, through Gaussian Graphical Models, based on data collected for the period 2013-2022. The variables include indicators both from the insurance market and from the field of new technologies, digital transformation and innovation. The research suggests that that there is a connection between digital transformations, new technologies and the insurance market, and the relationship between these variables is complex, with both favorable and unfavorable connections between the analyzed variables.

How Advanced Technologies Shape the Insurance Market: Statistical Insights at the European Union Level

University of Craiova, Doctoral School of Economics” Eugeniu Carada”

Proceedings of the International Conference on Business Excellence

This work is licensed under the Creative Commons Attribution 4.0 International License.

Considering the changes caused by new technologies and the significance of insurance field for the economy, the objective of this research is to highlight how...

How Advanced Technologies Shape the Insurance Market: Statistical Insights at the European Union Level

Published Online: Jul 03, 2024

Page range: 2766 - 2775

DOI: https://doi.org/10.2478/picbe-2024-0230

Keywords
digital transformation, European Union, innovations, advanced technologies, insurance development

© 2024 Elena Iulia Grigorie et al., published by Sciendo

This work is licensed under the Creative Commons Attribution 4.0 International License.

How Advanced Technologies Shape the Insurance Market: Statistical Insights at the European Union Level

Published Online: Jul 03, 2024

Page range: 2766 - 2775

DOI: https://doi.org/10.2478/picbe-2024-0230

Keywordsdigital transformation, European Union, innovations, advanced technologies, insurance development

© 2024 Elena Iulia Grigorie et al., published by Sciendo

This work is licensed under the Creative Commons Attribution 4.0 International License.

Keywords
digital transformation, European Union, innovations, advanced technologies, insurance development