scholarly journals Russian Citizens’ Attitude toward Insurance Policies as a Factor of Individual Economic Security

2019 ◽  
Vol 10 (1) ◽  
pp. 23
Author(s):  
Olga Medyanik ◽  
Olga Deyneka
Keyword(s):  
Development Strategy ◽  
Financial Literacy ◽  
Insurance Industry ◽  
Economic Security ◽  
Insurance Market ◽  
Management Tool ◽  
Insurance Policies ◽  
External Threats ◽  
Private Citizens ◽  
Literacy Preparation

Today, insurance enables the functioning of the market system. In modern Russia, such a mechanism of protection against internal and external threats exists to ensure the economic security of each citizen. Indeed, individual insurance policies continue to gain importance as the most effective risk management tool to guarantee the safety of the health and property of private citizens. The goal of this study was to investigate Russian citizens’ attitudes towards insurance policies and investment bearing in mind the concept of personal economic security. Preparations for this study were focused on theoretical understandings of economic security problems, taking the field of insurance as an example. Our research consisted of four stages, with a total of 1794 participants. The results of this study can offer insight to improve the functioning of the insurance market in accordance with the framework of the Insurance Industry Development Strategy for the Russian Federation—2020. The obtained results can be used from both a political and economic standpoint in the development of a set of measures dealing with the control of financial institutions, promotion of financial literacy, preparation of courses for universities, and trainings for participants in the insurance market. Policyholders can also use this information to advocate for improved insurance programs for citizens.

scholarly journals Russian Citizens’ Attitude towards Insurance Policies as a Factor of Individual’s Economic Security

2019 ◽  
Author(s):  
Olga Medyanik ◽  
Olga Deyneka
Keyword(s):  
Financial Literacy ◽  
Private Property ◽  
Economic Security ◽  
Insurance Market ◽  
Insurance Policy ◽  
Economic Management ◽  
Theoretical Understanding ◽  
Strategy Of Development ◽  
External Threats

In nowadays conditions, insurance provides the opportunity for market system of economic management to work in any state. To provide economic security of the person it is needed to create a mechanism of protection against internal and external threats in modern Russia. That’s why the role of citizens insurance policy is increasing as the most effective risk management institute and achieving safety of health and private property of citizens. The goal of this research is to study Russian citizens’ attitudes towards insurance policy and investment using the conception of personal economic security. The preparatory study stage was focused on theoretical understanding of economic security problems taking insurance field as an example. Empirical research consisted of four stages. There were 1793 people taking part in this research. Results of this study can be proposed in the program of improving the functioning of the insurance market in the Russian Federation in The framework of the strategy of development of the insurance market - 2020. The obtained results can be used in Politics and Economics in the development of a set of measures related to lawmaking, control of financial institutions, promotion of financial literacy of the population, preparation of courses for universities and trainings for participants of the insurance market. The typologies of policyholders which were given can be the basis to create insurance programs for the citizens.

scholarly journals Modeling the System of Economic Security of AgroHoldings as the Basis for their Sustainable Development in the Context of Global Crisis Management

2018 ◽  
Vol 5 (5) ◽  
pp. 64-72
Author(s):  
A. V. Gluschchenko ◽  
E. P. Kucherova ◽  
M. V. Denisov
Keyword(s):  
Sustainable Development ◽  
Crisis Management ◽  
Development Strategy ◽  
Global Economy ◽  
Business Processes ◽  
Rapid Development ◽  
Economic Security ◽  
Global Crisis ◽  
External Threats ◽  
Theoretical Approaches

The global economic system is at the stage of its active formation and development. Its borders and conditions of existence are constantly changing, which is accompanied by crises, which affect the economic systems of all countries participating in the world economy. The current global fnancial crisis, which is global and systemic, revealed a lack of effective theoretical approaches to the development of practical methods for overcoming the crisis phenomena used in the management of integrated agro-formations. This predetermines the need to improve the system of global crisis management that contributes to an adequate response to crises and is based on innovative approaches and the application of modern concepts of sustainable development in order to ensure economic security. The globalization of the fnancial and food markets, on the one hand, allows the agro-holdings to compare and evaluate the effciency of investment simultaneously within the entire international economy; expand and strengthen the fnancing capacity of various economic projects. On the other hand, qualitative changes in the global economy are of a deep and risky nature, due to the rapid development of fnancial innovations, which leads to an insuffcient degree of development of the system of ensuring economic security of international activities of economic entities. As a result of the analysis of the activities of integrated agro-formations, the current trends in the development and functioning of agricultural holdings in the context of the global fnancial crisis have been revealed. The specifcs of ensuring sustainable development of agrostructures in the context of global crisis management are defned: soil-climatic, biological, ecological, technological, and organization of agricultural territories. A model for ensuring the economic security of the agricultural holding through a sustainable development strategy was developed and justifed, including the following elements: a mission, a goal and a system of balanced indicators. The decomposition of the activities of integrated agro-formation into groups of balanced indicators has been made: fnance, customers, internal business processes, training and development, competitors and on-farm decomposition system. The internal and external threats to economic security, which are the basis for the selected groups of the BSS (balanced scorecard system) for integrated agro-formations, are singled out. Fields of economic security of the agro-structure (critical, low, normal and high) are defned, as well as sustainable development strategies for each feld, allowing to move from a critical level of economic security to the high one.

scholarly journals THE ANALYSIS OF CURRENT TRENDS IN THE INSURANCE SEGMENT OF THE FINANCIAL MARKET OF UKRAINE

2021 ◽  
pp. 130-139
Author(s):  
Yuriy Klapkiv ◽  
Volodymyr Svirskyi ◽  
Roman Shchur
Keyword(s):  
Life Insurance ◽  
Financial Literacy ◽  
Insurance Industry ◽  
Cash Flows ◽  
The State ◽  
Insurance Market ◽  
Insurance Companies ◽  
Insurance Sector ◽  
Current Trends ◽  
The Impact

Purpose. Analysis of the state of the insurance services market of Ukraine, identification of the main problems of its development in modern conditions and determination of directions for improving the functioning of the insurance services market in Ukraine. Methodology of research. The scientific and methodological basis for the article are scientific works, monographs, materials of professional publications, Internet resources. During the research the methods of analysis and synthesis, system-functional method and method of comparative studies were used, with the help of which most modern tendencies, phenomena and processes in the market of insurance services are explained. Findings. The article is devoted to current trends of the insurance in Ukraine. The study examines the main trends in its development during 2016-2020. The dynamics of the number of insurance companies, the main indicators of insurers, the structure of gross and net insurance premiums of domestic insurers, reinsurance indicators are analyzed. Based on a dataset of Ukrainian insurance industry, we analyse the impact of transformation of the insurance sector. Based on the analysis, the main problems of the insurance services market of Ukraine are identified and proposals for improving its development are formulated. The results illustrate major tasks the industry is facing: enhancing the customer experience, improving its business processes, offering new products, and preparing for competition with other industries, imperfection of regulatory regulation of the insurance sector; underdevelopment of the life insurance segment and other types of insurance (agricultural, environmental, catastrophic risks and life insurance, cyber risks); low solvency of potential consumers of insurance services, low level of capitalization of insurance companies, lack of insurance culture, distrust of the insurance institution; fraud and neglect of the rights of policyholders by some insurance companies; low financial literacy of policyholders. Moreover, we identify key areas of change of the insurance services market of Ukraine: creation of a centralized online database of insurance contracts; improving the system of taxation of insurance activity; adaptation of Ukrainian legislation in the field of insurance to EU legislation; introduction of high technologies in insurance services; improvement of marketing management; creation of an export insurance system by establishing a special organization for export insurance and financing; introduction of insurance culture and traditions. Originality. A comprehensive approach to the analysis of the state of the insurance market as an important component of the financial sector of the economy with most of its inherent characteristics, functions and principles; economic space in which institutional units for the implementation of insurance services interact; a set of orderly cash flows between the subjects of the insurance market. Practical value. The results of the study can be the basis for further research to systematically address practical problems in this area, development and implementation of measures aimed to achieve accelerated progressive development of the insurance market to ensure socio-economic growth. Key words: insurance, insurance services, insurance services market.

scholarly journals DEVELOPMENT OF INTERNET INSURANCE UNDER THE NEW CONDITIONS

2021 ◽  
Author(s):  
Nataliia Prykaziuk ◽  
Tetiana Motashko ◽  
Yuliia Kondratenko
Keyword(s):  
Financial Literacy ◽  
Insurance Industry ◽  
Distribution Channel ◽  
Insurance Market ◽  
Insurance Companies ◽  
Related Services ◽  
Advantages And Disadvantages ◽  
On Line ◽  
Willingness To Use ◽  
Insurance Development

The article is devoted to the study of internet insurance development in the light of the new circumstances, including its catalysts and inhibitors. The relevance of the topic chosen is based on the fact that such distribution channel as internet insurance helps to minimize face-to-face contact while insurance services distribution, that plays important role during the pandemic of Covid-19. On the basis of the conducted research different approaches to the definition of "internet insurance" were considered and generalized definition was determined. The article examines the current state of the Ukrainian insurance market and its tendencies. The way of internet insurance development in China and its impact on the whole insurance industry was analyzed. Determined insurance services consumers’ willingness to use digital distribution channels, that showed significant growth in the past year. Although the insurance market in Ukraine is characterized by a low level of insurance culture and there are contradictions in the legislation of the insurance field, insurance companies tend to use innovations, including internet insurance. There are two internet insurance systems: on-line and off-line, which are characterized by different levels of internet use. Matrix of on-line and off-line internet insurance services of top 10 Ukrainian insurance companies in terms of gross insurance premiums is characterized. Insurance companies use combination of internet insurance system and related services based on internet technologies to attract consumers by more personalized offers. Analysis of internet insurance products number and available related services is carried out. Despite benefits of internet insurance there are some problems to deal with. Advantages and disadvantages of internet insurance are analyzed. Prospects for the development of internet insurance in Ukraine are substantiated. In order to enhance development of internet insurance, it is necessary to improve the current legislation of Ukraine and financial literacy. An important point is the use of international experience.

scholarly journals CURRENT STATE OF THE INSURANCE MARKET: PROBLEMS AND PROSPECTS OF DEVELOPMENT

2021 ◽  
Author(s):  
Inna Rud
Keyword(s):  
National Economy ◽  
Capital Accumulation ◽  
Business Models ◽  
Insurance Industry ◽  
Economic Security ◽  
Insurance Market ◽  
Insurance Companies ◽  
The European Union ◽  
Current State ◽  
National Insurance

The insurance market and its products are an important and indispensable attribute of a country operating on the basis of a market economy, as it provides the right to an effective system of protection of personal and property interests of citizens and legal entities, their rights and social stability. Economic security is an important financial instrument of the national economy, as well as a powerful source of capital accumulation for long-term investment in the national economy. Observation of the current state, trends and forecasts of the insurance industry is the main direction for the study of industry development. This article examines the state of the Ukrainian insurance market as one of the significant sectors of the financial market and the national economy as a whole. To ensure a qualitative statistical analysis and comparison of national insurance companies with companies in other international markets, especially with the national insurance market of the European Union, it is recommended to adopt a single European classification of insurance, which requires some changes in legislation. The study showed that the main indicators of the domestic insurance market have positive trends, but their individual functions and characteristics of the system do not correspond to promising areas of development. Taking into account the current situation on the insurance market of Ukraine, the main problems of its functioning are identified and the prospects for the development of the country's insurance industry are described. For the study it is advisable to use a full set of different statistical techniques and methods that allow comparisons in time and space, to establish cause-and-effect relationships between indicators, to determine in absolute and relative terms the various factors on the basis of the effectiveness of others. In order to improve the situation on the insurance market, domestic companies should gain experience from foreign insurance experience and change their own business models, including improving the national mechanism for supervising insurance companies, adapting insurance rules to world standards and introducing the latest insurance technologies and quality standards in this area.

Threats to the Economic Security of Russia in the Context of Trends in the Development of Africa

2020 ◽  
pp. 112-125
Author(s):  
Alexander I. Selivanov ◽  
Vladimir G. Starovoitov ◽  
Dmitriy V. Troshin
Keyword(s):  
National Economy ◽  
Economic Security ◽  
Economic Transformation ◽  
Economic Crime ◽  
African Continent ◽  
New Developments ◽  
External Threats ◽  
National Economic ◽  
The World ◽  
National Economic Security

Situation and value of the African continent on the economic and social cardmap of the world dynamically changes and will continue to change throughout all the 21st century with strengthening of the Africa positions in the world. In Russia all the complex of threats and problems which arise owing to political and economic transformation of Africa is not adequately estimated. The scientific literature on economic security issues presents an expanded set of internal and external threats to the national economy that goes beyond the traditional areas of the shadow economy, corruption, economic crime and related segments, including the internal economic stability of the national economy and inter-country competition, the quality of state strategic management, studies of the specifics of ensuring economic security in the conditions of the sixth technological order, intercultural communication and their impact on the economic relations between countries, etc. Incomplete use of such approach to strategy for the countries of Africa creates additional threats and risks for Russia. An analysis of security problems in Africa revealed that studies of economic security in the context of African development trends in Russia are conducted in an unsatisfactory volume, not always taking into account the results of new developments in the field of ensuring economic security. Even the large shifts happening on the African continent, forecasts of this dynamics sometimes are poorly known to experts of a profile of economic security, and many experts of an economic profile including working in the African subject often do not accurately distinguish problems of “economic cooperation” and “the Russian – African relations”, on the one hand, and “economic security of Russia” – with another. In this regard the new scientific problem is proved: need for deeper analysis of trends of economic and social development in Africa as an important component of a system of ensuring national economic security of Russia in the current period and in the future into account the new developments in the sphere of economic security. The main directions of activating scientific research and concentration of practical efforts to increase national economic security, neutralize threats and reduce risk for Russia in the designated context are formulated.

The Usefulness of Readability Formulas in the Insurance Industry

2015 ◽  
Vol 10 (4) ◽  
pp. 339-351
Author(s):  
Katarzyna Barczuk
Keyword(s):  
Final Section ◽  
Insurance Industry ◽  
Insurance Market ◽  
Insurance Companies ◽  
Text Readability ◽  
The Given ◽  
Readability Formulas

The aim of this paper is to characterize the most important methods which are used to determine the level of text readability. The author presents practical examples of the usage of chosen methods by foreign insurance companies. The final section of the study is completed with general conclusions relating to the application of the given solutions to the Polish insurance market. 

Rating assessment of economic security of municipalities in the region

2021 ◽  
Vol 97 (4) ◽  
pp. 72-81
Author(s):  
M. S. Syupova ◽  
Keyword(s):  
Local Governments ◽  
Economic Condition ◽  
Economic Security ◽  
Management Tool ◽  
Existing Problems ◽  
Advantages And Disadvantages ◽  
Current State ◽  
Regional Authorities ◽  
Negative Factors

Ensuring the economic security of municipalities is one of the key conditions for stable socio-economic de-velopment of the region. Recently, intraregional differentiation of territories has been growing, which increases the risk of the formation of negative factors that reduce the quality of life of the population. In order to neutralize and prevent acute social and economic problems, constant monitoring of the current state of the municipal econ-omy is necessary. As such a management tool, a rating assessment of the economic security of municipalities in the region can be used. The ranking of territories allows you to visualize the relative advantages and disadvantages of the development of territories. In addition, a systematic comparative analysis of controlled socio-economic pa-rameters will allow regional authorities to evaluate the results of the activities of local governments and improve the effectiveness of regional socio-economic policy. The article proposes a methodology for rating the economic security of municipalities, during which it is possible to visually assess the depth of the threats studied at the level of each territory. To this end, the proposed methodology is based on a system of indicators that identify the main problem areas of the socio-economic condition of the territories. To form the rating, the studied indicators are normalized and integral indices characterizing the level of economic security of municipalities are calculated. The methodology proposes criteria for assessing the level of municipal economic security (high; above average; aver-age; crisis; critical). According to the results of the study, a rating of municipal districts of the Khabarovsk Terri-tory was compiled. The study showed that the territories of the region are characterized by an unstable socio-economic condition. The leading positions in the rating are occupied by areas with an average level of economic security. Most municipal districts of the region have a crisis level of economic security, which provides for the de-velopment of a set of measures aimed at eliminating existing problems.

Pricing insurance policies with offsetting relationship

2021 ◽  
pp. 1-27
Author(s):  
Hanbali Hamza
Keyword(s):  
Insurance Market ◽  
Optimal Pricing ◽  
Price Discounts ◽  
Insurance Policies ◽  
Life Data ◽  
Pricing Decision ◽  
Pricing Process ◽  
Pairwise Correlations ◽  
Number Of Customers ◽  
The Relationship

Abstract This paper investigates the benefits of incorporating diversification effects into the pricing process of insurance policies from two different business lines. The paper shows that, for the same risk reduction, insurers pricing policies jointly can have a competitive advantage over those pricing them separately. However, the choice of competitiveness constrains the underwriting flexibility of joint pricers. The paper goes a step further by modelling explicitly the relationship between premiums and the number of customers in each line. Using the total collected premiums as a criterion to compare the competing strategies, the paper provides conditions for the optimal pricing decision based on policyholders’ sensitivity to price discounts. The results are illustrated for a portfolio of annuities and assurances. Further, using non-life data from the Brazilian insurance market, an empirical exploration shows that most pairs satisfy the condition for being priced jointly, even when pairwise correlations are high.

Populism and Trade

2021 ◽  
Author(s):  
Kent Jones
Keyword(s):  
Voting Behavior ◽  
Economic Security ◽  
American People ◽  
Trade Integration ◽  
The European Union ◽  
Trade Restrictions ◽  
External Threats ◽  
2016 Election ◽  
Institutional Cost ◽  
The Uk

Populism and Trade traces the role of populist trade policy in the increase of global protectionism and the erosion of international trade institutions. Populist anti-trade rhetoric played a major part in US President Donald Trump’s 2016 election campaign, in which he portrayed current trade agreements as elitist measures to undermine US manufacturing jobs, economic security, and the interests of the American people. Upon taking office he proceeded to implement trade restrictions that were unprecedented in the era of GATT-WTO rules. His use of national security criteria for unilateral tariffs on steel and aluminum and his trade war with China represented an abandonment of WTO trade rules and practices. In the United Kingdom, the 2016 Brexit referendum resulted in a vote to leave the European Union, thereby ending the UK trade integration arrangement that had begun in 1973. The referendum campaign drew on UK criticism of EU intrusion on UK sovereignty in presenting the issue in populist terms of elitist control from Brussels set against the interests of the victimized British people. The book develops a conceptual framework of protectionism that links behavioral factors with perceived external threats and voting behavior based on emotion. It also offers a review of trade policies of other populist governments and an assessment of their economic and institutional cost. A concluding chapter provides recommendations for addressing the populist challenge, focusing on adjustment policies, reforms of global trade institutions, and the need to protect domestic democratic processes.

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