Analysis of the financial stability of the insurance industry through the lens of innovative processes [Articol]

Abstract

Purpose of the article: The article aims to analyze the impact of innovation processes on the financial stability of the insurance market in the Republic of Moldova during 2010–2024, using specific performance and sustainability indicators. It examines how technological and structural transformations influence the efficiency and resilience of insurance companies with in the national financial system. Methodology: The research applies statistical and correlation analysis to assess the relationship between the degree of innovation and the level of financial stability in the insurance sector. The study relies on sectoral data, performance indicators, and analytical interpretation of the trends observed during the analyzed period. Results: The findings show that innovation functions as a stabilizing mechanism in the financial sector, positively influencing performance, solvency, and sustainability indicators of insurance companies. The development of innovative products and digital transformation contributes to strengthening the overall resilience of the Moldovan insurance market. Conclusions: The study concludes that promoting innovation is a strategic direction for consolidating the financial stability of the insurance industry and modernizing the national financial system. Originality: The originality of the article lies in its integrated approach that links innovation dynamics with financial stability indicators in the Moldovan insurance market, offering a new analytical perspective on the role of innovation as a driver of resilience.