• COLINE MICHAEL SABU

Divorce is a significant life event that not only affects the individuals involved but also has wider economic implications, including on the insurance industry. This research paper undertakes a comprehensive examination of divorce rates and their effects on divorce insurance premium calculation. Divorce insurance, a relatively novel concept, aims to provide financial protection in the event of marriage dissolution. However, the accurate determination of premium rates relies heavily on understanding divorce rates and their underlying factors. Through a thorough review of existing literature, this paper explores various socio-economic, demographic, and cultural factors influencing divorce rates globally. Moreover, it investigates the methodologies employed by insurance companies in calculating divorce insurance premiums and the extent to which divorce rates are considered in these calculations. Additionally, the study delves into the impact of legislative changes, societal norms, and economic conditions on divorce rates and subsequently on insurance premium determination. Furthermore, this research employs statistical analysis and modeling techniques to examine historical divorce data and its correlation with insurance claims and payouts. By analyzing real-world data sets, this study aims to provide insights into the relationship between divorce rates and insurance risk, enabling more accurate premium calculations. The findings of this research will contribute to a deeper understanding of the dynamics between divorce rates and insurance premiums, facilitating the development of more robust and responsive pricing models for divorce insurance products. Moreover, it will shed light on the potential benefits of incorporating dynamic risk assessment mechanisms that adapt to evolving societal trends and economic conditions. In conclusion, this research seeks to bridge the gap between divorce sociology and insurance actuarial science, offering valuable insights for policymakers, insurance industry professionals, and researchers alike. By understanding the complex interplay between divorce rates and insurance premiums, stakeholders can better mitigate risk and provide more equitable and sustainable financial protection for individuals navigating the challenges of marital dissolution.

Insurance, Divorce rates, R studio, Data analysis, Correlation coefficient

"Evaluation of Divorce Rates and its effects on divorce insurance premium calculation", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.11, Issue 3, page no.f111-f131, March-2024, Available :http://www.jetir.org/papers/JETIR2403517.pdf

"Evaluation of Divorce Rates and its effects on divorce insurance premium calculation", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.11, Issue 3, page no. ppf111-f131, March-2024, Available at : http://www.jetir.org/papers/JETIR2403517.pdf