Safet Kozarevic

Given the challenges of small and underdeveloped markets, a comprehensive approach to insurance risk analysis is essential. This paper develops and applies an actuarially justified and statistically robust methodology for motor insurance pricing in Bosnia and Herzegovina. The adequacy of Generalised Linear Models (GLMs) is assessed using a portfolio dataset covering 2011-2023, focusing on key policyholder and vehicle risk factors affecting claim frequency and severity. Comparison with existing market tariffs indicates that current premiums are generally underpriced. The proposed approach offers practical guidance for improving pricing accuracy and strengthening actuarial practices in such insurance markets.

The need for companies' interconnection and advantages of mutual business cooperation led to the development of supply chain management in the 1980s. Along with the intensified market globalization process, companies have become aware of the need to...

The goal of this study is to empirically examine the potential impact of supply chain practices on the supply chain performances of the agro-food industry. The constructs of interest are three-dimensional, including supplier partnerships, customer relationships and level and quality of information sharing, thus representing supply chain practices, flexibility, agility and innovation as the main characteristics of supply chain performance. To gain better understanding of the possible impact of the supply chain practices on the supply chain performances of the agro-food industry we use structural equation modelling. The analysis has revealed statistically significant positive impact of customers’ relationships as well as statistically significant negative impact of a supplier partnership on the supply chain performance. From a theoretical point of view, this study has indicated contribution of different supply chain practices on supply chain performances. The results obtained from this study provide practical implications that assist managers in improving supply chain performance and highlight limitations for implementation of supply chain practice for the improvement of business operations.

Since banks and insurance companies are financial institutions dealing with risks in various aspects of their business, it is important to make a general approach to the issue of risk and risk management from the perspective of these institutions. In that regard, we made a short overview of the risks these institutions are faced to as well as the methods they use for risk assessments. In order to limit our research to specific financial markets, we provided the basic characteristics of bank and insurance markets of Southeastern Europe (SEE), presenting the core indicators of development level of these markets and their legal and institutional environment related to new regulation proposed in Europe. We analyzed the level of implementation of Basel and Solvency risk assessment standards in these countries and tried to anticipate direction(s) where these markets are going to move in the coming period.

The Western Balkan countries are characterised by a long period of transition to the market economy followed by their intention to integrate into the European Union. There are many benefits encouraging them to integrate and, in this paper, we are going to show the impact of the integration into the European Union on their financial services market, with the focus on the insurance market. Building the higher level of competitiveness through the legal and institutional standardisation will result in development of the insurance markets of these countries in many aspects. The best way to see it is to look at correlation between their level of integration into the European Union and the level of the insurance market development they reached.