scholarly journals INVESTIGATION OF BANKRUPTCY INSURANCE OF THE INSURANCE COMPANY

2021 ◽  
Author(s):  
Liliya Ignatovich
Keyword(s):  
Financial Services ◽  
Financial Stability ◽  
Financial Analysis ◽  
Objective Assessment ◽  
Insurance Market ◽  
Insurance Companies ◽  
Insurance Company ◽  
Accurate Analysis ◽  
Advantages And Disadvantages ◽  
Probability Of Bankruptcy

The analysis of probability of bankruptcy is one of directions of financial analysis, and the general purpose of financial analysis – rendering assistance in development of reasonable and effective administrative decisions. The analysis is important for all subjects of the insurance market, including the National Bank of Ukraine, as the regulator of the financial services market, which is interested in the financial stability of the insurance market. Especially, if in recent years there has been a tendency to reduce the number of insurers. The bankruptcy probability assessment may be carried out by the management of the company itself to identify weaknesses and prevent bankruptcy. There is great interest in methods that allow assessing the probability of bankruptcy in advance, predicting the onset of financial insolvency of the organization. Analysis of the likelihood of bankruptcy allows the company to obtain an objective assessment of its activities, can adjust it in the right direction by taking prompt or preventive measures. The aim of the research is to determine the probability of bankruptcy of the insurance company, by the example of ALC “IC “Motor-Garant”” on the basis of foreign and domestic models, such as Taffler-Tishaw, Springate, A.P. Zaitseva. Analysis of the likelihood of bankruptcy by several methods will be carried out on the basis of the data reflected in the company’s financial statements. These models are considered to determine the probability of bankruptcy of the insurance company, determining their main advantages and disadvantages, as well as the possibility of their use in practice. It is proved, that the estimation of probability of bankruptcy of insurance companies in modern conditions of doing business allows to define the real situation of the insurer in the market and to reveal critical moments in activity. As a matter of fact, the earth models were started for the old enterprises, but is it the land has its own specifics. However, one should take into account that all forecasting methods have their limitations and inaccuracies. For the most complete and accurate analysis it is recommended to rely on the results of three or more different models.

scholarly journals DIRECTIONS OF USING THE INSURER'S FINANCIAL RESOURCES THROUGH THE PRISM OF THE CONTROLLING SYSTEM

2021 ◽  
pp. 148-159
Author(s):  
Svitlana Korol ◽  
Iryna Ivashkiv
Keyword(s):  
Financial Stability ◽  
Net Present Value ◽  
Relevant Information ◽  
Cash Flows ◽  
Insurance Market ◽  
Insurance Companies ◽  
Financial Resources ◽  
Insurance Company ◽  
Advantages And Disadvantages ◽  
Controlling System

Introduction. Given the constant challenges of today, the key to survival and the basis of stable development of insurance companies is the effective management of financial resources, the skillful use of which allows a stable competitive position in the insurance market and determines the vectors of their development. It is the financial resources of insurers that are one of the most important resources that are designed to support their activities. Since the insurance, financial and investment activities of insurers are closely linked, the use of their financial resources is aimed not only at making insurance payments, but also at investing. In fact, skillful management of financial resources is the basis for financial stability and competitiveness in the insurance market, which stimulates the introduction of modern methods and approaches in the field of management. Therefore, just controlling is almost the only possible tool for building optimized management systems in the activities of insurers. At all levels of government, it allows you to provide timely and relevant information in order to make optimal decisions. The study of the process of building an insurance controlling system within the operation of the insurance company in order to optimize the use of financial resources will determine the current controlling tools and the effectiveness of the controlling system on the example of the insurance company. The importance of financial resources in the financial and economic activities of insurance companies and the possibility of their optimization in the controlling system in today's conditions becomes especially relevant, which requires further research. Purpose. Initiate the process of building an insurance controlling system within the functioning of the insurance company, which will allow optimizing the use of its financial resources. Method (methodology). In the process of research such methods were used as logical, which allowed to analyze scientific works in the field of financial resources of the insurer; analytical, which was used to analyze and evaluate the costs of implementing a controlling system, as well as the effectiveness of its application; graphic, which made it possible to interpret the process of building an insurance controlling system within the functioning of the insurance company in a visual form. Results. The importance of financial resources in the activities of insurance companies is determined. The role of controlling for the purpose of optimized utilization of financial resources of insurers is revealed. The advantages and disadvantages of creating a controlling service within the activities of the insurance company are highlighted, which allowed us to see that the creation of such a system has more advantages than disadvantages. A system of topical controlling tools for insurers is recommended. A visual process of building an insurance controlling system within the operation of an insurance company is proposed. The characteristics of the construction of the controlling department on the example of PJSC IC "Euroins Ukraine" are given. The efficiency of introduction of the controlling system at PJSC IC "Euroins Ukraine" with the use of the indicator of net present value of cash flows is determined. As a result of calculations it is determined that the introduction of a controlling system in the insurance company is appropriate. It is established that the practical aspects of the study of financial resources in the system of controlling insurance companies need further study in the direction of optimizing their use.

scholarly journals Institutional forms and their competitive analysis of organization of insurance activities in Ukraine

2018 ◽  
Vol 2 (1) ◽  
pp. 99-110
Author(s):  
Olga Slobodianiuk ◽  
Galina Tolkacheva
Keyword(s):  
Development Strategy ◽  
Competitive Analysis ◽  
Swot Analysis ◽  
Objective Assessment ◽  
Insurance Coverage ◽  
Insurance Market ◽  
Insurance Companies ◽  
Insurance Company ◽  
Strategic Development ◽  
Ability To Act

Introduction. In the insurance market of Ukraine, there is a need for non-commercial insurance, which does not carry out business activities in favor of shareholders, but implements the principle of collective mutual assistance of insurance participants. Its necessity is determined, first of all, by the possibility at affordable prices to provide real insurance coverage to the general population, agricultural producers, small business representatives, and others like that. The development of the strategic development of the work of insurance companies prompts them to rational use of all their resources, in order to increase their efficiency at all stages of development. For this purpose, special methods of strategic management are used, which include the search for economic criteria that provide an objective assessment of the company's activities. Thus, conducting this analysis will enable each company to make it competitive on the insurance market. Aim and tasks. The purpose of the article is to reveal and substantiate the institutional forms and perform SWOT analysis to identify the weak and strong points of the organization of the insurance company and the strategic development of insurance activities in general. Research results. The article reveals the concept of institutional forms of organization of insurance activity in Ukraine. Conducted competitive analysis (SWOT-analysis) of strategic development of insurance companies and organization of insurance activity in Ukraine. The proposed ways of strategic development, weak and strong forms of organization of insurance activity are revealed. Conclusion. Insurance companies have financial institutionalization of their forms of activity. Under this concept is understood the process of consolidation of norms, roles, statuses, rules for bringing and combining them into the insurance system for the ability to act for insurance protection. The conducted analysis of the activity of the insurance company, its development strategy provides an opportunity to identify the most promising directions for its development and organization of work. Thus, the identification of weak and strong sides of the company, based on SWOT analysis, positively influences the development of the company's future strategy, its organizational structure, as well as the quality and price of insurance services.

scholarly journals THE IMPACT OF THE INDUSTRIAL REVOLUTION 4.0 ON THE INSURANCE INDUSTRY AND WHETHER OF THE ASSETS AND INVESTMENTS PLAY A ROLE TO INVESTMENT YIELD?

2020 ◽  
Vol 8 (2) ◽  
pp. 345-351
Author(s):  
Iskandar Muda ◽  
Hafizah ◽  
Bunga Aditi ◽  
Hermansyur ◽  
Erlina
Keyword(s):  
Financial Services ◽  
Financial Stability ◽  
Industrial Revolution ◽  
Insurance Industry ◽  
Least Square Method ◽  
Partial Least Square ◽  
Least Square ◽  
Insurance Companies ◽  
Insurance Company ◽  
The Impact

Purpose of the study: This research aims to know the influence of the Industrial Revolution 4.0 era on the insurance industry on the side of assets and Investment insurance companies to Investment Yield Sharia Insurance in Indonesia. Methodology: This type of research is explanatory research. This type of research data is secondary data sourced from the Financial Services Authority (OJK) Republic of Indonesia period in 2016-2107. The tool of analysis in this research is the Partial Least Square method using Smart PLS statistics. Main Findings: The results are an influence of Assets and Investment on Investment Yield on insurance companies in the Industrial Revolution 4.0 era. In the era of the industrial revolution, 4.0 potential insurance improve economic growth through several aspects, namely promote financial stability. Facilitate trade and commercial activities. mobilize domestic savings. Offering a variety of risk management on capital. Increase more efficient allocation of capital and reduce the risk of loss and can increase Investment Yield for shareholders and stakeholders. Applications of this study: This research is the observation only on Sharia Insurance Company sample while other issuers are not observed in this study and this research implies that sharia insurance issuers are growing and contributing to their shareholders and shareholder. Novelty/Originality of this study: The first time observing the Sharia Insurance industry industrial Revolution 4.0 era and previous research to observe in Sharia banking.

scholarly journals Key Aspects of Online Insurance

2020 ◽  
Vol 2 (97) ◽  
pp. 64-74
Author(s):  
E.T. Prokopchuk ◽  
◽  
Y.V. Ulianych ◽  
S.A. Ptashnyk ◽  
N.V. Butko
Keyword(s):  
Insurance Market ◽  
Insurance Companies ◽  
The Internet ◽  
Internet Services ◽  
Insurance Company ◽  
Insurance Policy ◽  
Internet Technologies ◽  
Advantages And Disadvantages ◽  
On Line ◽  
Insured Event

In the conditions of virtualization of economic relations, the subjects of the insurance market can not stay away from these processes, so in order to improve the quality and level of availability of insurance services it is necessary to spread internet technologies in insurance. The main incentive for the introduction of Internet services by insurance companies is the need to reduce costs, expanding the geography of activities, ensuring diversification of risks. No less important factors are simplicity and comfort of on-line purchase of insurance product. The Ukrainian insurance market is at the stage of development and formation, having a number of problems and uncertainties. Therefore, its further information and technological development should receive priority in the economic and social aspects of government policy, taking into account its European integration guidelines. The article deals with the concept of Internet insurance. It is established that the approaches of scientists to the disclosure of the content of the concept of "Internet insurance" have differences. However, they converge on the definition of the Internet insurance as a process of interaction between the insurance representative and the insurer, connected with the provision of insurance services by the insurer, their service, performance of insurance payments in case of occurrence of an insured event due to the use of Internet technologies. The main advantages and disadvantages of online insurance are presented. The list of main advantages includes: simplification of the insurance process, efficiency of registration, simplicity and universality of payment methods, minimization of "human" factor, automation of calculation of the sum insured and tariffs with the help of insurance multicalculator. The list of main drawbacks includes: a much smaller number of insurance products are placed on the Internet sites of insurance companies for sale, the need for the client to understand the nuances and subtleties of working with the site of the insurer, set certain options for insurance amounts, which the client can not change. The stages of obtaining the insurance service through the Internet system have been considered, the offer of services by insurance companies of Ukraine "in live" and "on-line" and innovations on the Internet insurance market of Ukraine have been analyzed, the main spectrum of Internet services providing insurance companies in the Internet has been investigated, the number of insurance companies for the last years has been considered in dynamics. For the further development of Internet insurance it is necessary to improve the legal framework on this issue; it is necessary that the sites of insurance companies contain sufficient information content and for the customers a number of opportunities: obtaining true information about the activities of the insurance company and its services; calculation of the cost of the insurance policy with the help of online calculator; filling in an application for insurance; in case of an insured event, the implementation of remote payment of the insurance policy and insurance payments; delivery of the insurance policy to the customers; and delivery of the insurance policy to the customers.

FINANCIAL STABILITY MANAGEMENT OF THE INSURANCE COMPANY

2021 ◽  
Vol 3 (4) ◽  
pp. 128-135
Author(s):  
E. A. RUSETSKAYA ◽  
◽  
L. V. AGARKOVA ◽  
V. V. AGARKOV ◽  
◽  
...  
Keyword(s):  
Financial Stability ◽  
The State ◽  
Insurance Market ◽  
Insurance Companies ◽  
Insurance Company ◽  
Individual State ◽  
State Control ◽  
Management Decisions ◽  
State Institutions ◽  
Insurance Business

When substantiating the relevance of management decisions to ensure the financial stability of insurance companies, both for the insurers themselves and for individual state institutions, it is necessary to point out the tightening of the practice of state control and regulation of the insurance business in order to comply with the requirements of insurance legislation, protect the interests and rights of policyholders, insurers, the state and other subjects of the insurance market. The article is devoted to the study of the issues of financial stability of the insurance company and the substantiation of the mechanism for managing this category, which includes a sequence of interrelated stages. The priority directions for improving the mechanism for managing the financial stability of an insurance company are presented.

scholarly journals Trends in Marketing of New Insurance Schemes and Distribution: An Empirical Study on Indian Life Insurance Sector

2015 ◽  
Vol 9 (2) ◽  
pp. 61-81
Author(s):  
Suman Kalyan Chaudhury ◽  
Sanjay Kanti Das
Keyword(s):  
Life Insurance ◽  
Financial Services ◽  
Financial Stability ◽  
Free Market ◽  
Insurance Industry ◽  
Private Insurance ◽  
Insurance Market ◽  
Insurance Companies ◽  
Current Status ◽  
Insurance Sector

Insurance has been an integral part of financial services system and recognised as a cornerstone of a country’s financial health and symbol of progress. Insurance provides for the financial security of citizens and their families. The present paper discusses the role of marketing in insurance distribution of life insurance sector in India as insurance offers a valuable investment advices and serves as an effective step towards both individual and national financial stability. The waves of globalisation have deeply influenced the insurance sector worldwide. Financial globalisation has been strongly supported by globalisation of insurance. With the increase in trade, direct investment and portfolio investment, there has been an ever growing demand for insurance services particularly in the emerging markets. Globalisation of insurance market, as a part of the overall process of liberalisation in emerging and other countries enabled the foreign insurance companies to enter in those countries and benefited both. Triggered by the sound fundamentals in global economy and internationalisation of world markets, several countries turned towards free market regimes in banking and insurance, putting an end to several decadeold state-owned controlled markets. There was a remarkable progress in the Indian insurance industry soon after the acceptance and adaptation of LPG in the year 1991. After 1991, the Indian life insurance industry has geared up in all respects, as well as it has been forced to face a lot of healthy competition from many national as well as international private insurance players. It is also reported by Swiss Re and Munich Re that there would be 20-25 percent growth in life and health insurance market by 2015, particularly in India and China. In this paper an effort is made to study the current status and challenges faced by the life insurance business houses in India.Journal of Business and Technology (Dhaka) Vol.9(2) 2014; 61-81

scholarly journals The Corporate Competitiveness Evaluation Model for Insurance

2020 ◽  
Vol 25 (1) ◽  
pp. 30-38
Author(s):  
E.K. Ovakimyan
Keyword(s):  
Balanced Scorecard ◽  
Evaluation Model ◽  
Insurance Market ◽  
Insurance Companies ◽  
Insurance Company ◽  
Competitive Advantages ◽  
Optimal Model ◽  
Advantages And Disadvantages ◽  
Comprehensive Information ◽  
Eventual Outcome

Subject. This article examines the different models for assessing the competitiveness of insurance companies. Objectives. The article aims to develop an optimal model for assessing the competitiveness of the insurance company, able to adequately assess the current situation and provide comprehensive information of the insurance company's position in the insurance market. Methods. For the study, I used the methods of theoretical and comparative analyses. Results. The article presents two models for assessing the competitiveness of insurance companies, namely, for external and internal users. It proposes to represent a model of measuring competitiveness for internal users as a graphic imaging, and for external users, as a table, which is based on a balanced scorecard. Conclusions and Relevance. The results of the study can help any participant of the insurance market to adequately assess the state of the insurance company, and identify competitive advantages and disadvantages to improve the financial situation of the organization. The information outlined in the article is practical for it affords to use the eventual outcome of the study in the practice of insurance organizations to improve their competitiveness.

scholarly journals NOVELIZATION TRENDS IN THE DEVELOPMENT OF INSURANCE COMPANIES IN UKRAINE

2021 ◽  
pp. 106-117
Author(s):  
Olha KNEYSLER ◽  
Natalia SPASIV ◽  
Svitlana KOROL
Keyword(s):  
Economic System ◽  
Insurance Market ◽  
Insurance Companies ◽  
Insurance Company ◽  
Advantages And Disadvantages ◽  
The Subject ◽  
Key Driver ◽  
Dialectical Analysis ◽  
The Impact ◽  
Economic Expediency

Introduction. Transformational changes in the economic system in Ukraine lead to adaptation in the digital dimension and to new vectors of development in the insurance market. The key driver of change has been digitalization. The purpose of the article is to identify innovation trends in the development of insurance companies in Ukraine and justify the introduction of digitalization on the example of an insurance company. Methods. In the process of research the methods of dialectical analysis, synthesis, formalization, graphic, as well as logical generalization were used. Results. Digital insurance is characterized as a new direction in insurance. The advantages and disadvantages of digitalization in the work of insurers are highlighted. The plan of digitalization introduction on the example of the insurance company is offered and its economic expediency is substantiated. The implementation of the proposed plan will enable the insurance company to strengthen its competitive position. Perspectives. The subject of further research is to study the impact of modern trends in the development of insurance companies as qualitatively new vectors of their development.

scholarly journals USE OF INNOVATIVE TECHNOLOGIES BY INSURANCE MARKET ENTITIES. TELEMATICS IN CAR INSURANCE

2020 ◽  
Vol 1 (2) ◽  
pp. 7-11
Author(s):  
Liliya Ignatovich
Keyword(s):  
Financial Services ◽  
Insurance Market ◽  
Insurance Companies ◽  
Innovation Activity ◽  
Insurance Company ◽  
Innovative Technologies ◽  
Social Trends ◽  
The World ◽  
Promising Area ◽  
Car Insurance

The purpose of the article is to substantiate the need for the use of innovative technologies by participants in the insurance market, namely, telematics in car insurance. The current state of the financial services market requires insurers to raise standards of work through the introduction of innovative products. It is determined that increasing the competitiveness of an insurance company should focus on providing the best personal services and meet the requirements of modernity and modern social trends, and therefore, make full use of the Internet: marketing and innovation. In view of this, the key task of the insurer’s innovation activity is the maximum approximation of insurance services to the existing needs of the insured in insurance protection. It is possible to reach stable demand for this or that insurance service under the conditions of application of the world innovative insurance programs providing balance of qualitative and quantitative parameters of the insurance contract only. The relevance of the topic is that the Ukrainian insurance companies are forced to look for new opportunities to meet the needs of their customers in order to maintain competitive advantages and work effectively in the conditions of innovative development of insurance activity in the world. A promising area of further research is to assess the readiness of insurance market participants to use innovative insurance services. Methodology. The essence of telematics in car insurance is investigated. The state of the CASCO insurance market in Ukraine is analyzed. The main advantages of telematics use by the subjects of the insurance market of Ukraine are determined. Practical implications. It is proved that the introduction of innovative technologies opens new opportunities for the growth of additional premiums, improving the quality of service and minimizing insurance risks. Theoretical provisions on the need for ways to improve the innovative activities of the insurer have been further developed.

RENEWAL AND RECONSTRUCTION IN WORLDWIDE ENERGY INSURANCE MARKETS—TOWARDS A MORE COMPETITIVE 2000

1997 ◽  
Vol 37 (1) ◽  
pp. 594
Author(s):  
W.N. Grierson ◽  
I. P. Curtin
Keyword(s):  
Financial Stability ◽  
Oil And Gas ◽  
New Technologies ◽  
Objective Assessment ◽  
Oil Industry ◽  
Influential Factors ◽  
Insurance Market ◽  
Insurance Companies ◽  
Insurance Markets ◽  
Year 2000

Whilst the over-riding aim of insurance for oil and gas explorers/producers is to provide financial stability to their operations, the recent fortunes of the market, and consequently the availability and pricing of the protection it provides have been more volatile than any objective assessment would allow.Following record underwriting losses in the late 1980s and early 1990s, which quite literally bankrupted a large number of names and underwriters at Lloyds as well as several of the smaller speciality energy insurance companies, the market has been undergoing a period of significant change. This paper provides a 'snap shot5 of the current position, including reference to major influential factors such as:the changing structure of the market and the emergence and effect of new underwriting capital;the progress of the 'renewal and reconstruction' program at Lloyds-still the undoubted international leader in energy insurance;the increase in capacity of oil industry mutuals and other alternatives to the traditional insurance market;the effects of new technologies on pure risk;the safety imperative worldwide; andglobal loss trends and possible effects of escalating weather-related catastrophes.The paper reaches the conclusion that whilst nothing in the oil industry is certain, the combination of factors currently in play should provide a more competitive and stable energy insurance market for Australian explorers/producers into the year 2000.

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