Research from Institute of Management Technology Yields New Study Findings on Risk Management (Determinants of Life Insurance Consumption in OECD Countries Using FMOLS and DOLS Techniques): Insurance – Risk Management

2024 MAR 07 (NewsRx) -- By a News Reporter-Staff News Editor at Engineering Business Daily -- Investigators publish new report on risk management. According to news reporting from Nagpur, India, by NewsRx journalists, research stated, “This paper aims to examine the determinants of life insurance consumption in 30 OECD countries using panel data from 1996 to 2020.”

Our news editors obtained a quote from the research from Institute of Management Technology: “This study uses GDP per capita, Life expectancy, Urbanization, School education, and Health expenditure as the determinants to measure the OECD countries’ life insurance consumption. Insurance density is used as a proxy for life insurance consumption. Fully Modified Ordinary Least Squares (FMOLS), Dynamic Ordinary Least Squares (DOLS), and causality tests are applied in this study. Our empirical results revealed that the variables urbanization, school education, and GDP per capita significantly impact life insurance consumption, whereas life expectancy and health expenditure were found to have an insignificant relationship in estimating life insurance consumption.”

According to the news editors, the research concluded: “These findings will help all insurance industry stakeholders in OECD countries in policy formulation and decision making.”

For more information on this research see: Determinants of Life Insurance Consumption in OECD Countries Using FMOLS and DOLS Techniques. Risks, 2024,12(2):35. (Risks - http://www.mdpi.com/journal/risks). The publisher for Risks is MDPI AG.

A free version of this journal article is available at https://doi.org/10.3390/risks12020035.

Our news journalists report that additional information may be obtained by contacting Maheswaran Srinivasan, Institute of Management Technology, Nagpur 441502, India. Additional authors for this research include Subrata Mitra.

(Our reports deliver fact-based news of research and discoveries from around the world.)