Insurance Sector Analysis in Turkey: An Empirical Study

Abstract

The purpose of this study is to comprehend the statistical relation between the amount of turnover produced by an employee in insurance companies in Turkey, used as a dependent variable. Whereas, the independent variables are three.The first independent variable is the ratio of number of staff horldiong a Bachelor (BA) over the number of all employees of each insurance company. The second independent varaible is the ratio of the number of sales department crew over number of all employees of each insurance company. The third independent variable is the ratio of number of male salespeople over the number of all sales department of each insurance company. Results indicate that the ratio of the number of male sales department crew over the number of all employees of each insurance company has a negative effect on the average turnover produced by one employee. Moreover, the ratio of number of male salespeople over the number of all sales department of each insurance company is found to have positive effect on the dependent variable. Lastly, the ratio of the number of staff holding a BA degree over the number of all employees of each insurance company has no significant effect on the dependent variable.This study also provides a summary of the basic terms of the concept of insurance and risk. Considering that the profitability is a very crucial issue for the insurance sector as for all other sectors, the profitability ratios of the insurance companies for the last 10 years are provided and analyzed within the study.