European insurance market analysis via functional data clustering techniques

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F60076658%3A12510%2F19%3A43899876" target="_blank" >RIV/60076658:12510/19:43899876 - isvavai.cz</a>
Result on the web
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DOI - Digital Object Identifier
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Result language
angličtina
Original language name
European insurance market analysis via functional data clustering techniques
Original language description
Insurance penetration as a high-level indicator of an insurance market’s development exhibits significant variations over time across countries. Cross-country comparisons on the link between insurance and economic growth are better off when insurance development homogeneity is present. Motivated by this evidence, this study is aimed to provide a data-driven and meaningful clustering of European countries in terms of their insurance penetration rates that are considered as functions (curves). The ultimate goal is the extraction and visualization of the representative curves that characterize the homogeneous clusters of European insurance market. To this end, we apply functional data clustering methodsthat fall into three major categories: distancebased methods, filtering methods, and adaptive methods. The data consist of insurance penetration rates sampled from 34 European countries and observed between 2004 and 2016; that is before, during and post-financial and sovereign debt crises. Our results - the clusters- are analyzed from a qualitative point of view, detecting visually whether they are distinguishable and preserve the magnitude and shape of the cluster member curves.
Czech name
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Czech description
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Project
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Continuities
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Publication year
2019
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Article name in the collection
Conference Proceedings of 37th International Conference on Mathematical Methods in Economics 2019
ISBN
978-80-7394-760-6
ISSN
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e-ISSN
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Number of pages
6
Pages from-to
179-184
Publisher name
University of South Bohemia in České Budějovice, Faculty of Economics
Place of publication
České Budějovice
Event location
České Budějovice
Event date
Sep 11, 2019
Type of event by nationality
WRD - Celosvětová akce
UT code for WoS article
000507570400029

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