engleski

Empirical Research on Remuneration as a Motivation Factor in Insurance Industry in the Republic of Croatia

The research is focused on remuneration as a motivation factor on performance in insurance industry. It is based on the empirical methodology of data obtained from reports of insurance companies in Croatia. We used the cumulative data of the Croatian Insurance Bureau of May 2015, when 26 insurance companies charged a total gross premium of HRK 4.1 billion, which was 4.26% more compared to the same period the year before. The largest share comes from classical life insurance with the premium of HRK 1.1 billion (17.49% higher than the previous year), which accounts for 85.96% in the life insurance group, or 27.95% in the total premium. The following are life insurance or annuities where the policyholder bears the investment risk with gross written premium of HRK 110 million and the share of 2.69% of the total premium (116% more than the previous year) ; then supplemental life insurance with written premium of HRK 61 million and the share of 1.50% of the total premium (drop of 0.99%) ; annuity insurance with written premium of HRK 13 million (increase of 36.78%), and marriage and birth insurance with written premium of HRK 2.5 million (drop of 5.71%).

motivation ; remuneration ; insurance industry

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