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Innovative Technologies For The Insurance Sector In The Republic Of Moldova

Author

Listed:
  • UNGUR, Corina

    (National Institute for Economic Research, Academy of Economic Studies of Moldova.)

Abstract

The trend of sustainable development implies, among other things, a process of digitization of economic processes to ensure transparency, reduce costs, increase the user experience, and make the time used more efficient. The COVID-19 pandemic has accentuated the need for digitization, the trend being supported by the level of the insurance industry as well. The purpose of this article is to analyse opportunities for the implementation of digital technologies in the insurance market in the Republic of Moldova and to identify the potential for development through digitalization. It requires research for this date on the aspirations of the Republic of Moldova to join the EU, which implies the alignment of European trends in financial innovation and digitalization. The objectives pursued in the study were to determine what are the possibilities and the challenges of insurance companies in the Republic of Moldova in the implementation of digital technologies and how this process is supported by the government. As a result of the research, directions for the digital development of the insurance industry in the Republic of Moldova were established, problems faced by insurance companies in this process were identified, and recommendations were developed regarding the consolidation of the insurance market.

Suggested Citation

  • UNGUR, Corina, 2024. "Innovative Technologies For The Insurance Sector In The Republic Of Moldova," Studii Financiare (Financial Studies), Centre of Financial and Monetary Research "Victor Slavescu", vol. 28(2), pages 19-34, June.
    • Handle: RePEc:vls:finstu:v:28:y:2024:i:2:p:19-34
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    More about this item

    Keywords

    insurance market; digitalization; European Union accession;
    All these keywords.

    JEL classification:

    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
    • G4 - Financial Economics - - Behavioral Finance
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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