Economic Archive

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  FRAGMENTS OF THE LIFE AND WORKS OF THE FOUNDER OF ACADEMIC EDUCATION IN INSURANCE IN BULGARIA

  The aim of the article is to commemorate and pay tribute to the renowned scientist and practitioner Prof. Veleslav Gavriyski, DSc. It highlights the most significant facts and events from his biography outlining his extensive studies in prestigious universities in the country and abroad and emphasizing his role as a co-founder and the first head ... The aim of the article is to commemorate and pay tribute to the renowned scientist and practitioner Prof. Veleslav Gavriyski, DSc. It highlights the most significant facts and events from his biography outlining his extensive studies in prestigious universities in the country and abroad and emphasizing his role as a co-founder and the first head of the only insurance department in Bulgaria. Moreover, it describes Prof. Gavriyski’s role as a pioneer in the fields of theory (economics) of insurance, reinsurance and insurance law in Bulgaria with his remarkable contribution to the writing of the first fundamental university textbooks and manuals in these fields. In 1996, Prof. Veleslav Gavriyski, DSc Foundation was established in acknowledgement of the contribution and support of this remarkable scientist for the development of the national insurance and social security sectors in the country.

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  DIGITALIZATION AND SUSTAINABILITY – OPPORTUNITIES AND CHALLENGES FOR INSURANCE INDUSTRY

  Digital revolution and demands for sustainability are the most important determinants of the economic development in the last years. Insurance as a risk protection mechanism can support the achievement of many Global Sustainable Development Goals of the United Nations in direct or indirect manner. Decision engines and artificial intelligence ... Digital revolution and demands for sustainability are the most important determinants of the economic development in the last years. Insurance as a risk protection mechanism can support the achievement of many Global Sustainable Development Goals of the United Nations in direct or indirect manner. Decision engines and artificial intelligence support to decision-making allow insurers to propose tailored customer-centric services based on micro-segments and personalized risk profiles. Providing a more adequate set of products insurance creates a financial safety net for women, families and businesses and contributes to poverty alleviation and supports economic growth, innovations and employment. Therefore, the aim of this paper is to present the possibilities of application of information technology in insurance and challenges for its implementation.

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  ANALYSING AND FORECASTING THE DEBT BURDEN OF THE EU COUNTRIES: IS THERE A NEW EUROPEAN DEBT CRISIS ON THE HORIZON?

  The debt crisis which afflicted Europe highlights the weaknesses and instability of the EU member states' financial systems, as well as the inability of their national economies to maintain normal levels of indebtedness. The deteriorating economic environment requires changes in the fiscal policies across Europe. These changes are effected using ... The debt crisis which afflicted Europe highlights the weaknesses and instability of the EU member states' financial systems, as well as the inability of their national economies to maintain normal levels of indebtedness. The deteriorating economic environment requires changes in the fiscal policies across Europe. These changes are effected using new financial instruments to raise the necessary funds for implementation of economic reforms in the EU member states. The aim of this study is to analyse the current levels of sovereign debt across the European Union and to forecast their development in the future using specialized econometric software. The results may be used to identify possible future economic shocks in Europe.