A Comparative Study of Claims Paid in Non-Life Insurance in Albania
A Comparative Study of Claims Paid in Non-Life Insurance in Albania

Author(s): Jonida Methasani, Enida Istrefi, Ikbale Tota
Subject(s): Economy, National Economy, Business Economy / Management, Financial Markets, Socio-Economic Research
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: claims ratio; non-life insurance; risks; gross written premium
Summary/Abstract: One of the reasons for purchasing insurance is financial compensation after an insured event occurs. A claim is both a right of the insured and an obligation for the insurance company. In the absence of compensation claims, the need for insurance would lose its meaning. Non-life insurance policies cover risks such as motor, fire, property, marine risks, etc, which form the classes of nonlife insurance. This study analyzes trends in gross written premiums, gross claims paid by eight companies, and the claims ratio for non-life insurance lines from 2019 – 2023. Interpreting these trends helps us understand the behavior of specific insurance lines and identify which are most exposed to risk in the Albanian market. Decision-making in the insurance sector, including setting or revising rates, comparing insurance lines, and evaluating company performance, highlights the importance of analyzing the claims ratio.

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