scholarly journals Competencies of Sales Employees as a Determinant of the Quality of Provided Services Based on the Insurance Market

2021 ◽  
Vol XXIV (Issue 2) ◽  
pp. 841-855
Author(s):  
Justyna Witkowska ◽  
Sylwia Stachowska
Keyword(s):  
Insurance Market ◽  
Sales Employees

scholarly journals Thriving in a changing world – opportunities and challenges for private health insurance companies

2018 ◽  
Vol 1 (2018/1) ◽  
Keyword(s):  
Health Insurance ◽  
Private Health Insurance ◽  
Health Impact ◽  
Insurance Market ◽  
Insurance Companies ◽  
Full Potential ◽  
Global Trends ◽  
Health Insurance Companies ◽  
Health Insurance Market

The health insurance market in Poland reflects global trends – such as the rising awareness of personal health impact on quality of life. As a consequence, the health insurance market has seen substantial growth during the last years, which is forecasted to continue at over 20 percent more than life or P&C insurance globally. However, private health insurance has not yet unlocked its full potential.

Insurance And Innovative Technologies Of Risks Management Of Ukrainian Companies In The Digital Economy

2021 ◽  
Vol 38 (4) ◽  
Author(s):  
Olena Gudz ◽  
Nataliia Prokopenko ◽  
Dmytro Korsakov ◽  
Nadiia Solovei
Keyword(s):  
Insurance Industry ◽  
Digital Technologies ◽  
Digital Economy ◽  
Insurance Market ◽  
Innovative Technologies ◽  
Cyber Insurance ◽  
Insurance Supervision

It was reviewed possibilities and importance of insurance and innovative technologies of companies' risks management in the digital economy, modern threats and risks of the Ukrainian companies, which are generated in the digital economy conditions, it was identified factors that hinder the development of cyber insurance and implementation of insuretech-solutions in Ukraine, it was revealed the prerequisites for their activation and defined directions and proposed measures for their expansion, justified expediency of introduction and use of innovative technologies and methods of insurance for risks management of Ukrainian companies in the digital economy.It is proved that adaptation of the insurance market to changes related to the digitization of companies, changes in the design of insurance instruments, the introduction of digital technologies in the organization of the insurance industry and cyber insurance, will contribute to improving the quality of insurance protection and stable profitability of Ukrainian companies, stimulating the introduction of new tools, methods and insuretech solutions, diversifying the range of insurance products, improving the forms and methods of insurance supervision, and more.

scholarly journals Health Care Costs: On the Rise Again

2003 ◽  
Vol 17 (2) ◽  
pp. 125-148 ◽  
Author(s):  
Sherry Glied
Keyword(s):  
Health Care ◽  
Health Care Costs ◽  
New Technologies ◽  
Private Insurance ◽  
National Income ◽  
Insurance Market ◽  
The Face ◽  
Private And Public ◽  
Care Costs

Since 1999, health care costs have been growing faster than national income. This rapid growth has occurred as the ability of private and public purchasers to reduce service utilization and bargain for lower prices has fallen, insurers have recouped lost profits through higher premiums, and new technologies have driven up costs throughout the sector. Private insurance market responses to these rising costs may lead to reductions in the number of people with insurance and to increased fragmentation of the insurance market. Over time, technological change in medicine both increases costs and improves the quality of care. The challenge for public policy is to maintain insurance and some degree of equity in the face of these rising costs.

scholarly journals Problems of functioning of the insurance services market in the conditions of COVID-19 distribution

2021 ◽  
pp. 5-9
Author(s):  
Yurii KLAPKIV ◽  
Volodymyr SVIRSKYI
Keyword(s):  
Structural Changes ◽  
Business Processes ◽  
Environmental Variability ◽  
Organizational Transformation ◽  
Insurance Market ◽  
Insurance Contracts ◽  
Financial Products ◽  
Moral Risk ◽  
Selection Of

In the center of contradictions and risks, as well as structural changes in the socio-economic system of the country due to the spread of COVID-19, the development of the insurance market will depend on its adaptation to environmental variability, ability to carry out permanent institutional and organizational transformation, optimization of business processes and introduction of innovative insurance products and services. The purpose of the paper is to develop new approaches to substantiate the dominance of the insurance market in a pandemic conditions and to outline prospects for its progress. The problems of functioning of the insurance services market in the conditions of realization of risks as a result of coronary crisis are considered, which is confirmed by the data on the dynamics of unprofitability of insurance products and refusals to pay insurance indemnity. The parameters of uncertainty of the quality of insurance services are identified, the trends of functioning are tracked, the threats for the parties during the performance of the insurance service are determined. This has greatly simplified the methodology for assessing quality in “regression selection”. Losses from business interruptions caused by the spread of COVID-19 are not covered by standard insurance contracts. In addition, pandemics are an extreme type of risk. Insurers generally clearly prescribe a pandemic as an exception, therefore do not intend to cover them with insurance policies, which provides protection against business interruption and do not include a premium for them in the policy value, without forming reserves for their coverage. It is substantiated that one of the ways to minimize moral risk and regressive selection of both insurers and policyholders in the context of the spread of COVID-19 is the widespread use of insurance protection and decency, which is inherent in highly developed business. This is especially true for insurance services and financial products, which are difficult to assess directly at the time of purchase.

STATE OF CONCENTRATION AND MONOPOLIZATION OF THE INSURANCE MARKET OF UKRAINE

2021 ◽  
Vol 1 (21(49)) ◽  
pp. 10-18
Author(s):  
Anna Novoseletska
Keyword(s):  
Life Insurance ◽  
Insurance Market ◽  
Insurance Companies ◽  
Market Development ◽  
Property Insurance ◽  
Insurance Group ◽  
Key Indicators ◽  
Risk Insurance ◽  
Financial Groups

The intensity and quality of insurance market development are directly related to the level of competition, concentration and monopolization between insurance companies. Although the insurance market of Ukraine is insignificant in terms of key indicators in comparison with foreign ones, the competitiveness of its insurers is very important to ensure proper insurance protection of policyholders. The article is devoted to the assessment of the processes of concentration and monopolization of the insurance market of Ukraine. The study analyzed the structure of the insurance market by segments, concentration indicators and the Herfindahl-Hirschman index for the market as a whole and for individual types of insurance, gradation of insurance companies by the amount of collected insurance premiums. Based on the assessment, it was determined that the insurance market of Ukraine is generally low concentrated, as well as the sector of risky types of insurance. Among the selected segments of the insurance market, the most concentrated is the CASCO insurance. In the field of health insurance there is a slightly lower level of concentration and monopolization as in the OTSPVVNTZ segment. The market of classical property insurance is the least concentrated. The life insurance segment is characterized by moderate concentration and monopolization. The most powerful insurance companies in the relevant sectors of the insurance market of Ukraine are outlined. Since 2015, the top three leaders of the life insurance market are PJSC “MetLife”, PJSC “Insurance Group TAS” and PJSC “IC UNIСA LIFE”. Virtually unchanged leaders in the field of risk insurance during 2018-2020 were PJSC “IC ARX”, PJSC “IC UNICA” and PJSC “Insurance Group TAS”, which are members of financial groups that include leaders of the life insurance market. In general, the national insurance market is becoming more concentrated, which will be appropriate and accepted benefits while strong market players will not involve their residents, and the state controls these processes.

scholarly journals Labor transformation in insurance in the context of digitalization

2020 ◽  
Vol 164 ◽  
pp. 09010
Author(s):  
Elena Karanina ◽  
Dmitriy Tulenty ◽  
Marina Selivanova
Keyword(s):  
Human Capital ◽  
Labor Relations ◽  
Public Life ◽  
Insurance Market ◽  
Human Capital Management ◽  
New Paradigm ◽  
Technological Structure ◽  
Human Labor ◽  
The Subject

The subject of research in the article is the transformation of labor and labor relations in modern insurance. This transformation is due to the transition to a new technological structure based on digitalization, as well as comprehensive informatization of all aspects of public life. The hypothesis that served as the impetus for writing this article is the provision that modern digitalization, unlike its previous automation and informatization, does not aim at increasing the productivity of human labor, but at completely eliminating a person from the production process. In the course of work on the article, the authors used materials from the largest recruiting agency HeadHunter, and also conducted their own research in the form of a survey of insurance market specialists on the issues of transforming labor relations and the demand for new competencies. As a result, it is shown that significant transformations occur both in the content of labor processes and in the competencies that employees should possess. The changes that are taking place impose new requirements on the quality of human capital, a new paradigm of human capital management is being approved, in which the employee is considered not only as an object, but also as an independent subject of management. The transformation of the basic factors (economic, technological, social) of labor relations in insurance is considered.

scholarly journals THE CIVIL LIABILITY INSURANCE OF OWNERS OF MOTOR VEHICLES IN THE CONTEXT OF INNOVATIVE TRANSFORMATIONS

2021 ◽  
Author(s):  
Liudmyla Volokhova ◽  
Keyword(s):  
Civil Liability ◽  
Forecast Model ◽  
Insurance Premium ◽  
Third Party ◽  
Liability Insurance ◽  
Insurance Market ◽  
Motor Vehicles ◽  
European Standards ◽  
Car Insurance

Insurance plays a stabilizing role in economic development, so it is an important financial area in an era of new challenges and threats. This leads to increased attention to insurance in general and the introduction of innovations in such an important area as liability insurance. The specific features of this industry require the development of important recommendations for improving the compulsory civil liability insurance of owners of motor vehicles (CCLIOMV) in Ukraine. The methodology and methods of work involve the use of a systematic approach, analysis, comparison, forecasting in the development of improved regulation of the liability insurance market. The condition for the successful functioning of the insurance market in Ukraine is a decent level of quality of insurance services based on such innovations in car insurance as telematics, namely Usage-based insurance (UBI), is a special program that allows discounts to drivers by tracking their mileage. Another new vector is mobile technology, which allows you to remotely control devices, develop the implementation and maintenance of insurance services with their help. The methods of encouraging the use of motor third party liability insurance services, as well as the approximation of the existing system CCLIOMV to European standards is the use of a bonus-malus – a correction factor for the size of the insurance premium. The need and effectiveness of the introduction of an electronic policy is the ability to independently choose a reliable insurer, provide a guarantee of the acquisition of legitimate insurance protection, the introduction of non-cash using Internet acquiring technology forms of payment for insurance services and more. The scientific research carried out in the work allowed to determine the forecast indicators of the introduced innovations in the insurance market. The results of calculations of the forecast model on the dynamics of sales of electronic policies CCLIOMV in Ukraine show that their volume is constantly growing and in 2022 will amount to about 7 million units. This allows us to forecast the coverage of electronic policies CCLIOMV up to 70% of all vehicles in Ukraine.

scholarly journals Insurance Market of Ukraine in Conditions of Regulatory and Digital Transformation

2020 ◽  
Author(s):  
Olha Hladchuk ◽  
Volodymyr Odochuk
Keyword(s):  
Artificial Intelligence ◽  
Big Data ◽  
Digital Transformation ◽  
Insurance Market ◽  
Institutional Characteristics ◽  
Market Participants ◽  
Mobile Access ◽  
Regulatory Changes ◽  
Quantitative Indicators

The Ukrainian insurance market shows an increase in quantitative indicators of activity, but the functional and institutional characteristics do not meet modern requirements. Now the insurance market of Ukraine is undergoing important regulatory changes, as a result of which the NBU is beginning to regulate the work of insurers, which gives hope for increasing the quality of activity of insurance market participants. Modern financial technologies have transformed the insurance market, they include big data, artificial intelligence, blockchain, mobile access, which gave impetus to the creation of new insurance products and created opportunities for facilitating clients' access to insurance services.

scholarly journals Domestic realities of reinsurance

2021 ◽  
Author(s):  
Sofiia Kucherivska ◽  
Olha Hladchuk
Keyword(s):  
Solvency Ii ◽  
Insurance Market ◽  
Market Participants ◽  
Current Trends ◽  
Analysis And Synthesis ◽  
Theoretical Generalization ◽  
Informational Basis ◽  
Further Development ◽  
Parent Companies

Reinsurance is a guarantor and catalyst for the development of the insurance market, it increases its capacity and financial security. The aim of the article is to study the current trends of reinsurance in Ukraine, identify the main problems in their implementation and formulate appropriate areas for their solution. The works of domestic and foreign scientists in the field of reinsurance have become a theoretical and informational basis for writing the article. This study was conducted by implementing methods of analysis and synthesis, theoretical generalization, comparative analysis, statistical and graphical methods. There is no single approach among Ukrainian reinsurance researchers regarding the use of basic reinsurance terms. It is important to use the correct reinsurance terminology, which is clearly defined in Ukrainian legislation, distinguishing between the concepts of "actions of the primary reinsurer" and "actions of the reinsurer" in reinsurance. At present, domestic insurers mostly reinsure their risks in "parent companies" or foreign reinsurers, paying almost a third of the reinsurance premiums involved. Ukrainian reinsurance is characterized by the fact that reinsurance premiums are paid mainly to resident reinsurers, while the majority of insurance payments are made by non-resident reinsurers. Domestic insurers are reinsuring the risks of primary non-resident insurers, but this activity is not yet so successful. A potential direction for the further development of reinsurance in Ukraine is the creation by the state, or with its participation, of a national reinsurance company or a Ukrainian reinsurance pool using modern financial products and technological innovations. As a result of the transfer of powers to supervise the activities of insurers to the NBU, we can expect effective changes in the legislative provision of insurance and reinsurance activities based on world experience, implementation of Solvency II and improving the quality of insurance and reinsurance activities by insurance market participants

scholarly journals Analysis of insurance products from the perspective of economic security of an insurance company

2020 ◽  
pp. 79-85
Author(s):  
Sergey Yashin
Keyword(s):  
Statistical Data ◽  
Economic Security ◽  
Securities Market ◽  
Insurance Market ◽  
Product Portfolio ◽  
Insurance Company ◽  
Open Source Data ◽  
Source Data ◽  
The Russian Federation

Based on open source data, the review of indicators of the state of the insurance market of the Russian Federation for 2017—2018 was conducted. The results of one of the largest operators of the insurance market, ROSGOSSTRAKH, are presented. Based on the analysis of statistical data, the direction of analysis of the insurance company’s product portfolio using methods for evaluating the quality of securities and the securities market as a whole is justified.

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