Business insurances as an element of sustainable development of small and medium enterprises in Poland

Natalia Pawlak,Aneta Oniszczuk-Jastrząbek,Artur Badyda,Tomasz Czuba,Piotr Oskar Czechowski

doi:10.1051/shsconf/20185701024

Abstract

The SME sector in Poland constitutes over 90% of all business entities. It is a broad market for insurance products. The choice of the insurer by these entrepreneurs is conditioned by several factors, including a beneficial image of the insurer, security in terms of its solvency, an attractive amount of the insurance premium or a wide insurance offer. The data comes from the study "SME finance 2015 - Insurance services market". Two research hypotheses were made for the purposes of the analysis. The first one assumes that the analysed factors are important when choosing the insurer by the SMEs. The second one indicates the selection of an adequate level of protection up to the level of risk occurrence. The results of the research show that PZU SA is the main insurer in Poland. At the same time, it is the most willingly selected SME among enterprises. In addition, two groups of clients were identified. The first one is characterised by the use of adequate protection measures in relation to the degree of risk occurrence. The other group applied relatively high or low degree of protection against small or high risk.

Highlights

The market of small and medium-sized enterprises (SMEs) in Poland is rapidly growing
The first group, with the strongest impact, included: 1. a sense of security, mainly determined by the solvency of the insurer (16.72% of replies), 2. favourable amount of the insurance premium (15.95%), 3. wide insurance offer that covers a wide range of risk (14.23%), 4. reputation and favourable image of the insurer, supported by many years of experience in the industry (13.96%)
The first was characterised by the use of rational - directly proportional protection measures in relation to the risk occurrence degree

Summary

Introduction

The market of small and medium-sized enterprises (SMEs) in Poland is rapidly growing. The SME sector is the largest group of business entities that constitute over 90% of all entities in Poland. It translates into the importance of SMEs for the main economic indicator, which is Gross Domestic Product (GDP), as well as the importance of the segment in terms of the unemployment rate. The sector is supported by separate provisions of commercial law, as it provides a source of income for the middle class.

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Conclusion