scholarly journals Digitalization of the insurance business: Systematization of net effects through the example of Russia

2021 ◽  
Vol 12 (1) ◽  
pp. 32-42
Author(s):  
Gulnara Kaigorodova ◽  
Alfiya Mustafina ◽  
Guzel Pyrkova ◽  
Mariola Grzebyk ◽  
Larisa Belinskaja
Keyword(s):  
Customer Service ◽  
Business Processes ◽  
Banking Sector ◽  
Insurance Industry ◽  
Ethical Problems ◽  
Insurance Sector ◽  
Market Participants ◽  
Business Operations ◽  
Qualified Personnel

The pace of digitalization of the insurance industry lags behind similar processes in the banking sector. The main tasks that a Russian insurer solves when using IT technologies are the automation of business operations and the formation of an online system of interaction with customers with the main focus on sales.The purpose of this study is to systematize the effects achieved by insurance market participants when introducing IT technologies and identify incentives to accelerate the insurance sector digitalization. The goal of digitalization of Russian insurers should be the formation of a client interface with a full cycle of services; the transfer to a qualitatively new level of business processes while ensuring the required level of protection; formation of fundamentally new and timely renewal of the existing insurance products. The priority areas of IT technologies used by Russian insurers are identified: cloud computing, chat bots, and information resources that provide online interaction with customers. Factors that have a stimulating effect on the digitalization of the insurance sector are identified: cost reduction, acceleration of business processes, improvement of the quality of customer service and increased competitiveness. The problems and risks of insurers that restrain the use of IT technologies are formulated: high costs of digitalization, lack of qualified personnel, cyber risks, moral and ethical problems.

scholarly journals Digitalization trend in business

2021 ◽  
Vol 284 ◽  
pp. 07008
Author(s):  
Oksana Pirogova ◽  
Nadezhda Savelyeva ◽  
Tatiana Timkina
Keyword(s):  
Business Processes ◽  
Banking Sector ◽  
Development Trend ◽  
The Internet ◽  
Service Model ◽  
Software Products ◽  
Market Participants ◽  
Digital Services ◽  
Commodity Money ◽  
Patterns Of Behavior

The aftermath of the pandemic in 2020 shocked the country’s economy, but at the same time, the desire to keep the business allowed, in record time, to completely rebuild the usual patterns of behavior in the implementation of business processes across all sectors of the economy. The inability to go to work, solve everyday issues, carry out a commodity-money exchange, allowed the remote service model to burst so rapidly. The construction of a mechanism for the formation of work on the basis of electronic platforms, software products, Internet sources made it possible to form a single development trend - digitalization. This process is inextricably linked with the Internet, the digitization of the actions of all market participants. In this article, using the banking sector as an example, the main problems of modern digital services are considered, based on which the main directions of innovation are put forward, as well as promising areas of investment are substantiated.

scholarly journals Penerapan Metode SERVQUAL pada Bank X

2016 ◽  
Vol 12 (2) ◽  
pp. 369
Author(s):  
Nilda Tri Putri ◽  
Jonrinaldi Jonrinaldi ◽  
Ranti Pratiwi
Keyword(s):  
Service Quality ◽  
Customer Service ◽  
Customer Loyalty ◽  
Banking Sector ◽  
Services Quality ◽  
Marketing Research ◽  
Services Marketing ◽  
Repair Service ◽  
Five Dimensions

The banking sector had become industrial which keeps growing. Competition requires each bank competing to attract many customers in many ways both in terms of products, technologies, and services. Marketing Research Indonesia (MRI) performs measurements of the services quality of the banking. X Bank occupies the fifth position in terms of service quality. X Bank need to do repair service constantly to improve customer loyalty. The method used was servqual consisting of five dimensions. Based on gap between perception and expectations known priority on X Bank. Repair service with the main priority is customer service quickly. A long customer service cause long queue at customer service and teller. Typically, most clients come at the beginning of the month. However, a large number of customer that are not anticipated by the number of teller and customer service. Customer satisfaction level of this attribute only 68,09%. That means the banks need to make improvements such as by adding the number of teller and customer service at a particular time and organizing shift work teller and customer service more effectively.Keywords : service quality, gap, Marketing Research Indonesia.

scholarly journals Digitalization of transport and logistics services in russian agriculture

2021 ◽  
Vol 7 (3D) ◽  
pp. 219-225
Author(s):  
Andrey P. Garnov ◽  
Konstantin V. Ordov ◽  
Inga О. Protsenko ◽  
Natalia A. Prodanova ◽  
Victoria Yu. Garnova ◽  
...  
Keyword(s):  
Business Processes ◽  
New Technologies ◽  
Transportation Services ◽  
Digital Platform ◽  
Market Participants ◽  
Russian Agriculture ◽  
Logistics Services ◽  
Cargo Transportation ◽  
Transport Complex

The aim of the work is to evaluate the intermediate results of the digitalization process of transport and logistics services in Russian agriculture. A methodology has been applied that uses data from Rosstat, the GooglePlay service and the Yandex.Radar service as a source of information. The study shows that one of the main trends in the cargo transportation market is the introduction of new technologies, such as transport and warehouse management systems, digital services that automate the business processes of carriers, mobile applications for ordering or providing cargo transportation services. The processes of digitalization of transport and logistics services in Russian agriculture are supported by the state. The implementation of the projects "Digital Platform of the transport complex" and "Digital Agriculture" will ensure cost reduction and improve the quality of transport and logistics services. The creation of a digital platform will unite all market participants in one information space and increase the transparency and traceability of cargo transportation.

scholarly journals The Current State and Prospects of Banking Innovations in the Context of Improving the Quality of Customer Service

2021 ◽  
Vol 4 (519) ◽  
pp. 204-209
Author(s):  
V. Y. Volokhata ◽  
Keyword(s):  
Development Strategy ◽  
Customer Service ◽  
Banking Sector ◽  
New Technologies ◽  
Goods And Services ◽  
Current State ◽  
National Bank ◽  
Domestic Banks ◽  
Effective Development

In the context of globalization of the unstable situation in the financial market, the coronavirus pandemic, strengthened interbank competition, lack of financial resources and increasing their value, raising standards by the National Bank of Ukraine, it is imperative to improve the banking business management system by introducing innovations in the form of the use of new technologies that are adequate in view of development strategies and new banking products. That is why innovative development becomes the driving force of the efficiency of the banking sector’s activity. The article is aimed at evaluating the current state of innovative banking technologies and prospects for their development in Ukraine in the context of improving the quality of customer service. Priority directions of innovations for effective development of banking institutions and ways of their solution are defined. When analyzing trends in innovative activities of domestic banks, the major ones are identified. The most popular innovative products in the domestic banking market are listed and their characterizations are provided. A detailed analysis of normative and legislative acts is carried out, determining the prospects for the development of innovations in the banking sector in the near future and by 2025, such as: FinTech development strategy 2025; electronic payment system at the National Bank (EFT) in the 23/7 regime; service of sharing of digital documents; procedure for using a digital handwritten signature; creation and use of QR codes for credit transfers and when paying for goods and services; change of remote identification and verification of bank customers, etc.

scholarly journals How to Eliminate the Negative Impact of Scientific and Technological Progress on the “Transparency” and Efficiency of the Market

2021 ◽  
Vol 7 (7) ◽  
pp. 190-206
Author(s):  
G. Khubaev
Keyword(s):  
Market Economy ◽  
Technological Progress ◽  
Quantitative Assessment ◽  
Business Processes ◽  
Negative Impact ◽  
Financial Resources ◽  
Market Participants ◽  
Demand Reduction

It is shown that scientific and technological progress leads to a decrease in the awareness of market participants, and the “opacity” of the market contributes to the active development of goods and business processes for one purpose, leads to the waste of intellectual and financial resources. The use of original methods and tools is justified for the quantitative assessment of the characteristics of the consumer quality of multifunctional goods and the growth of functional demand, reduction of budget allocations of market entities, and accelerated development of the market economy.

scholarly journals Innovatizing the Insurance Business in the Development of Digital Economy

2021 ◽  
Vol 7 (522) ◽  
pp. 62-69
Author(s):  
O. O. Sosnovska ◽  
Keyword(s):  
Business Processes ◽  
Swot Analysis ◽  
Insurance Industry ◽  
Global Scale ◽  
Digital Economy ◽  
Insurance Companies ◽  
Insurance Sector ◽  
Insurance Business ◽  
Health Insurance Industry ◽  
The Individual

The article defines the current trends of innovatizing the insurance business in the digital economy. The stages of development of modern insurance technologies (InsurTech), which are innovative products in the insurance sector of financial infrastructure, are provided. The instruments of digitalization of business processes for sale of insurance products, settlement of insurance claims, bookkeeping and tax accounting, risk underwriting, document flow are presented. The dynamics of global investments in technological innovations of insurance companies on a global scale have been specified. The volume of global investments and concluded agreements in InsurTech sector by insurance sectors is analyzed and it is proved that 2020 is a period of awareness of the importance and role of digital technologies implementation in the insurance industry, recognition of the value of the digitalization vector of insurance business and global investments in InsurTech development with the highest recorded values. It is identified that the leader in attracting investments in the processes of innovatizing is the property insurance industry (P&C), which has compiled 53% of the total financing and 63% of the concluded agreements. The individual health insurance industry (L&H) ranks second in terms of indicators, maintaining overall investment attractiveness, high amounts of financing and the introduction of insurance technologies. The economic, technological, organizational management, and legal factors that stimulate or inhibit the innovative activity of insurance companies in Ukraine are systematized. Based on the generalization of problems and weaknesses that are relevant and impede the desired pace of innovatizing the insurance business in the digital economy, a SWOT analysis matrix of the feasibility of InsurTech implementation is proposed. It is determined that the introduction of innovations and the development of insurance on the basis of digitalization are currently a catalyst for the strategic development of the insurance business, improving the quality of insurance products and successful activities in an increasingly customer-oriented financial sector.

scholarly journals Strategies for socially responsible recruitment at Ukrainian enterprises under European integration

2019 ◽  
Vol 17 (1) ◽  
pp. 15-22 ◽  
Author(s):  
Kseniya Kotlyarevskaya
Keyword(s):  
Social Responsibility ◽  
Human Resources ◽  
Economic Crisis ◽  
Business Processes ◽  
Highly Qualified ◽  
Socially Responsible ◽  
Qualified Personnel ◽  
The Social ◽  
A Company

The current situation at Ukrainian enterprises is characterized by fail to meet the requirements of socially responsible nature, which is one of the economic crisis factors (lack of trust between employer and employees, transparency in conducting business processes and low level of responsibility resulted in economic disequilibrium). Therefore, a company must apply the social responsibility principles in strategic planning. The success of any enterprise depends largely on the quality and quantity of human resources. A significant competitive advantage that the company has over its competitors is the quality of talented and qualified professionals, which the company was able to attract to work. In order for recruitment to be more effective, it is necessary to apply methods of evaluating candidates that will allow to give a comprehensive conclusion about the quality and compliance with the requirements for an employee in a particular position. The issue of hiring highly qualified personnel is more relevant than ever before in Ukraine, especially in the conditions of developing social responsibility of business. The article deals with the social responsibility of enterprises, the features of socially responsible hiring of personnel and the expediency of its practical use. The main elements of socially responsible recruitment of personnel are analyzed, social responsibility directions are developed in personnel management, and elements for developing the strategy for socially responsible hiring are proposed.

scholarly journals Banks in the Context of “New Normality” and the Need to Restructure Business Processes

2018 ◽  
Vol 11 (3) ◽  
pp. 38-45
Author(s):  
A. E. Ushanov
Keyword(s):  
Life Cycle ◽  
Business Models ◽  
Business Processes ◽  
Banking Sector ◽  
Bank Loan ◽  
Loan Portfolio ◽  
Application Procedure ◽  
Official Data ◽  
Financial Result

The reduction by the Bank of Russia of the key rate as a tool for quantitative monetary easing leads to stagnation in the banking sector profitability. The purpose of the research was to disclose the importance of the mainstreaming factors of the banking profits formation. It is shown that the reasons that led to the financial result in 2017 had an unstable, temporary nature. It is revealed that the effect of the bank margin reduction under the “new normality” conditions can be overcome only by increased lending. In the situation when the real quality of a bank loan portfolio does not correspond to official data the introduction of risk-oriented business models into practice is essential for the growth of corporate lending. A progressive model of the loan life cycle is described. It is concluded that banks should use the model more extensively in providing loans to corporate borrowers in order to reduce risks, accelerate the loan application procedure and improve the profitability and competitiveness of credit institutions.

APPLYING THE CONCEPT OF 6 SIGMA IN THE HOSPITALITY INDUSTRY

2021 ◽  
Vol 1 (2) ◽  
pp. 118-123
Author(s):  
G. JARROUJ ◽  
◽  
S. HASAN ◽  
Keyword(s):  
Quality Of Service ◽  
Competitive Advantage ◽  
Customer Service ◽  
Six Sigma ◽  
Hospitality Industry ◽  
Business Processes ◽  
Operational Efficiency ◽  
High Quality ◽  
Service Efficiency

Lean and Six Sigma are the two most important methods in assessing the quality of business processes in many industries, helping organizations achieve higher efficiency and improved operational efficiency. Both methods are vital to the hospitality industry, giving hotels a competitive advantage by improving customer service efficiency, leaving guests with a good experience, and providing a high quality of service. By combining these two methodologies, it is possible to anticipate and meet the specific expectations and needs of guests.

scholarly journals ON APPROACH FOR THE IMPLEMENTATION OF DATA MINING TO BUSINESS PROCESS OPTIMISATION IN COMMERCIAL COMPANIES

2013 ◽  
Vol 19 (2) ◽  
pp. 237-256 ◽  
Author(s):  
Aleksander Pick ◽  
Olegas Vasilecas ◽  
Diana Kalibatienė ◽  
Rok Rupnik
Keyword(s):  
Data Mining ◽  
Customer Service ◽  
Business Process ◽  
Human Error ◽  
Business Processes ◽  
Process Optimisation ◽  
Suggested Approach ◽  
Business Process Intelligence ◽  
Manual Adjustment

Nowadays, organisations aim to automate their business processes to improve operational efficiency, reduce costs, improve the quality of customer service and reduce the probability of human error. Business process intelligence aims to apply data warehousing, data analysis and data mining techniques to process execution data, thus enabling the analysis, interpretation, and optimisation of business processes. Data mining approaches are especially effective in helping us to extract insights into customer behaviour, habits, potential needs and desires, credit associated risks, fraudulent transactions and etc. However, the integration of data mining into business processes still requires a lot of coordination and manual adjustment. This paper aims at reducing this effort by reusing successful data mining solutions. We propose an approach for implementation of data mining into a business process. The confirmation of the suggested approach is based on the results achieved in eight commercial companies, covering different industries, such as telecommunications, banking and retail.

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