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http://dx.doi.org/10.21219/jitam.2022.29.4.017

A Study on the International Competitiveness of Insurance Industry in the wake of the Fourth Industrial Revolutio  

Park, Eunyub (Pusan National University, Department of Economics)
Publication Information
Journal of Information Technology Applications and Management / v.29, no.4, 2022 , pp. 17-33 More about this Journal
Abstract
This study measures the internal and external competitiveness of 35 OECD countries in the insurance industry. We analyze whether variables related to the Fourth Industrial Revolution affect international competitiveness by applying a nonlinear autoregressive distributed lag model. As a result, the competitiveness of life insurance foreign companies in internal is showing positive responses in high income inequality countries. In addition, insurance companies in countries with low income inequality have shown high performance in external. The non-life insurance industry is less sensitive to shocks than life insurance. This is because non-life insurance is a more dangerous industry than life insurance and there are many restrictions on policies and regulations. The reason is that non-life insurance is a more dangerous industry than life insurance and there are many restrictions on policies and regulations.
Keywords
4th Industrial Revolution; Competitiveness of Insurance Industry; Inequality; Nonlinear ARDL;
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