Agrarian Economy 2022 Т. 15 № 1-2: 26-34

Innovative development of insurance activity as one of the methods to increase its efficiency

Ahres O., Candidate of Economic Sciences, Associate Professor
ORCID ID: 0000-0003-3398-0933
Hrytsyna O., Candidate of Economic Sciences, Associate Professor
ORCID ID: 0000-0002-1304-0250
Syniavska L., Candidate of Economic Sciences, Associate Professor
ORCID ID: 0000-0002-2723-9551
Lviv National Environmental University

https://doi.org/10.31734/agrarecon2022.01-02.026

ANNOTATION

Introduction of modern and improvement of the existing methods of promoting insurance services is a necessary factor for the effective operation of insurance companies.

It is determined that digitalization is a promising niche for successful implementation of insurance activities worldwide. The article supplies characteristics of digital transformation, and considers the common areas in the field of FinTech, particularly internetization, individualization and digitalization. The authors analyze problems specific for the insurance market in terms of introduction of modern technologies, which would contribute to the industry development.

The research describes the developed technologies and their application at the market of insurance services, in particular the presence of a web-page, an online store, an online office, chatbots and mobile applications. It is noted that technological innovations in the implementation of insurance activities have become an important foundation for establishing relationship between the insurer and policyholders, particularly potential customers. One of such technologies is to introduce and apply telematics insurance services at the world market.

The article identifies trends in the global insurance industry in 2021, namely artificial intelligence, big data, P2P insurance and, of course, automation. The work supplies examples of modern insurance programs developed by insurers abroad. It is proved that the method of innovative transformation is one of the necessary conditions to establish a competitive and stable insurance entity in the financial market of Ukraine. Considering some problems of the insurance market of Ukraine and possible ways of their solution by applying innovative methods of the insurance branch development, the authors define expectations, which can be fulfilled by shaping a modern, and clear strategy of its development, with consideration of the insurance optimization by meansof digitalization and diversification of supplied services.

KEY WORDS

innovations, insurance company, digitalization, insurance, efficiency, modern technologies

FULL TEXT

LINK

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