scholarly journals The insurance market in the young population of Ciudad Nezahualcóyotl

2019 ◽  
pp. 9-14
Author(s):  
Mónica Álvarez-García ◽  
Carlos Guerrero-Ibarra ◽  
Silvia Gutiérrez-Jiménez ◽  
Margarita Larios-Calva
Keyword(s):  
Young People ◽  
Quantitative Research ◽  
New Technologies ◽  
Cell Phones ◽  
Insurance Market ◽  
Insurance Companies ◽  
Young Population ◽  
Market Sector ◽  
National Insurance ◽  
General Director

The insurance market in Mexico has grown slowly even though crime has increased in recent years, this is due to the lack of risk prevention culture within the population. Regarding young people, nowadays with the advance of new technologies, the use of cell phones, tablets, laptops and video games has increased. Likewise, for them, the favorite means of transport are "motorcycles and bicycles," which is why some insurance companies are working to offer new and diverse products, thus seeking a change in the use of insurance by the future customers: the "Millennials." Insecurity is one of the great problems that afflict our country. It has gone from car and house theft, to the theft of the vehicles most used by young people: motorcycles. According to figures from the Mexican Association of Insurance Institutions (AMIS), motorcycles of the Italika and Honda brands were among the 10 most stolen insured vehicles in the period from May 2017 to April 2018 (eldictamen.mx). Regarding cell phones, Anatel (National Communications Association) General Director Gabriel Székely said that in 2016, 900 thousand were stolen, while 2017 exceeded one million (heraldodemexico.com.mx). The general objective of this project is to find out if Millennials currently have a culture of insuring their belongings against theft and if this new market sector of young people can be considered. A documentary review and descriptive-quantitative research was carried out in Bosques de Aragón, Nezahualcóyotl, with a sample of 122 young people between 15 and 29 years of age. In the documentary review it was detected that car and life policy insurances are the most sold by insurance companies. According to the National Insurance and Bail Bonding Commission (CNSF), in this regard, the insurance companies have the possibility of creating new and better services that can cover the equipment currently being used by young people and, at the same time, increase their market. The results obtained show that 89% of the population investigated considers that it is important to have insurance and 36% have one, mainly for cars or life, but they never mentioned having electronic equipment or motorcycles insured.

scholarly journals Insurance Market of Ukraine: Current State and Development Problems

2020 ◽  
pp. 284-291
Author(s):  
Olha Kotsiurba ◽  
◽  
Daria Nasypaiko ◽  
Keyword(s):  
Life Insurance ◽  
Sharp Decrease ◽  
State Level ◽  
Insurance Market ◽  
Insurance Companies ◽  
Economic Downturn ◽  
Cyber Insurance ◽  
Current State ◽  
National Insurance ◽  
Stable Development

The article is devoted to the study of the peculiarities of the Ukraine’ insurance market functioning in the modern conditions of emergence of new unforeseen threats and challenges. The current state of the national insurance market is analyzed and the main trends of its development in 2017-2020 are identified. It was found that the change in the main indicators of the insurance market of Ukraine occurred under the influence of economic downturn due to the spread of coronary heart disease. Thus, if until 2020 the national insurance market was marked by insignificant but stable development, then from 2020 it was significantly affected by restrictive quarantine measures at the state level, which led to a sharp decrease of 19% in gross insurance premiums compared to 2019. There was a decrease in the number of insurers during the study period from 296 to 215, with the largest decrease in the number of companies providing insurance other than life insurance. It is noted that the impetus for the national insurance market development will provide the sale of new insurance products, such as cyber-insurance, P2P insurance and microinsurance, blockchain and smart contracts in insurance, insuretech. The main problems that hinder the development of the national insurance market are identified. These include: the lack of a unified state strategy for the development of the national insurance market, the change of the regulator and, accordingly, the general vision of the development of the national insurance market by its representatives; imperfection and fragmentation of the regulatory framework in the field of insurance; underdeveloped financial market and lack of liquid and reliable financial instruments for investing resources of insurance companies; fears of fraud; low level of innovation by insurers; improper level of information openness of the insurance market, etc. The solution of these problems will ensure its formation as a driver of economic development of the country.

Development of the Insurance Market in Ukraine in the Context of Transformation Changes

2021 ◽  
Vol 26 (1) ◽  
pp. 185-189
Author(s):  
Nataliia Shyshpanova ◽  
◽  
Olena Bodnar ◽  
Keyword(s):  
Information Technologies ◽  
New Technologies ◽  
Digital Technologies ◽  
Developed Countries ◽  
Insurance Market ◽  
Insurance Companies ◽  
Change Models ◽  
Innovative Technologies ◽  
The Developed Countries ◽  
The Individual

Abstract. The article substantiates the feasibility of ensuring the development of the insurance market in Ukraine in the context of digital transformations. It has been determined that the latest digital technologies are penetrating deeper into the global insurance market, without bypassing any area of activity, but the volume of the insurance market in Ukraine is several times less than in the developed countries of the world. The indicated factors which restrain the development of the insurance market in Ukraine and characterized existing problems of the insurance market lead to low confidence in the companies of the sector and do not allow it to develop properly. It has been established that in modern conditions of digital transformations, insurance companies widely use innovative technologies that ensure the achievement of both short-term effects and long-term competitive advantages. The directions of digitalization of the insurance market in Ukraine have been characterized and it has been substantiated that the processes of digital transformation based on the development of information technologies of insurance companies contribute to increasing competitiveness. In order to improve the situation in the domestic insurance market and maintain competitive positions, insurance companies should actively use European and world experience, introduce and change models of insurance functioning, and intensively introduce innovative technologies in insurance activities. The use of new technologies and management models in practice will increase the efficiency of the provision of insurance services, require insurance companies to develop new insurance products, taking into account the individual wishes of customers, and will also contribute to expanding the scope of using insurance as a method of risk transfer in an integrated risk management system, as well as will ensure the creation of a unique competitive advantage for those insurance companies that are able to introduce innovative digital technologies in accordance with the individualized requests of customers

scholarly journals State tax policy of insurance companies on different stages of insurance market development

2016 ◽  
Vol 7 (1) ◽  
pp. 25-30
Author(s):  
Anton Boyko ◽  
Liudmyla Ostapenko ◽  
Oleg Markin
Keyword(s):  
Income Tax ◽  
Optimal Level ◽  
Insurance Market ◽  
Insurance Companies ◽  
Market Development ◽  
Tax Burden ◽  
National Insurance ◽  
State Tax ◽  
Mathematical Formalization ◽  
Methodological Principles

Peculiarities of taxation of insurance companies in Ukraine and Europe have been researched. Methodological principles determining the optimal level of tax burden for insurers, depending on the level of national insurance market development have been proposed. The forms of constructive and destructive effects of taxes on insurance companies functioning in the stages of development of the insurance market have been established. Keywords: insurance companies, tax, tax burden, income tax, optimization, mathematical formalization

scholarly journals Regulating Big Data effects in the European insurance market

2017 ◽  
Vol 8 (1) ◽  
pp. 6-15 ◽  
Author(s):  
Donatella Porrini
Keyword(s):  
Big Data ◽  
New Technologies ◽  
Distribution Channels ◽  
Insurance Market ◽  
Insurance Companies ◽  
Individual Privacy ◽  
Regulatory Measures ◽  
European Insurance ◽  
The Individual ◽  
Different Sources

The article analyzes the regulatory framework in the insurance market in connection with the advent of Big Data, such as information collected from different sources that can be manipulated by new technologies. The use of Big Data offers significant opportunities to the insurance companies in terms of digitization of the distribution channels and greater knowledge of the customers, which is instrumental to a more effective identification of the individual’s risk profile, as well as improvement of the competitiveness. However, regulatory measures are needed for a proper use of Big Data in terms of respect of the individual privacy, potential discrimination and constraint on competition.

scholarly journals SECURITY OF UKRAINE’S INSURANCE MARKET UNDER FINANCIAL GLOBALIZATION: THREATS AND DIRECTIONS OF REGULATION

2019 ◽  
Vol 2019 (4) ◽  
pp. 18-28
Author(s):  
Anzhela IGNATYUK ◽  
◽  
Antonina SHOLOIKO ◽  
Keyword(s):  
Financial Services ◽  
Solvency Ii ◽  
Insurance Market ◽  
Insurance Companies ◽  
Insurance Markets ◽  
Security Threats ◽  
Financial Globalization ◽  
National Insurance ◽  
Security Indicators ◽  
The Impact

The main purpose of any insurance market is to ensure the continuity of the production process and the formation of sources of investment resources for the development of the country’s economy. However, in a context of financial globalization, this function can be unrealized due to the increased vulnerability of insurance markets to the impact of global crisis and capital outflow through the processes of mergers and acquisitions of insurance companies, foreign investments, international reinsurance, etc. This generates threats to the security of Ukraine’s insurance market. And hence, the purpose of the article is to develop recommendations on how to regulate the safety of Ukraine’s insurance market on the basis of an analysis of the manifestations of financial globalization in the world’s insurance markets and the identified threats. The authors consider financial globalization as the formation of a global financial market that can be defined as a market in which international financial intermediaries (banks, insurance companies, etc.) sell financial services worldwide. The processes of financial globalization cause such security threats to the insurance market, as: acquisition by foreign insurers of national insurance companies, outflow of investment resources abroad, growth of dependence on external reinsurance and others. To strengthen the security of Ukraine’s insurance market under financial globalization, the following directions of regulation are proposed: (i) to establish requirements for external investments of insurers not only in the part of securities of foreign issuers, but also in relation to other assets, which can be represented by insurance reserves; ii) to carry out ongoing monitoring of security indicators of the insurance market: the share of insurance payments belonging to reinsurers-non-residents in gross insurance payments; the share of foreign capital in the authorized capital of insurance companies; market share of foreign insurance companies; iii) to increase the independence from external reinsurance, the capitalization of Ukrainian insurers should be increased on the basis of the introduction of Solvency II principles for the growth of the reinsurance capacity of the national insurance market and stimulation of the export of reinsurance services.

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.

INNOVATIVE POTENCIAL IN INSURANCE – THE INDIVIDUAL AND INSTITUTIONAL CUSTOMERS EVALUATION

2018 ◽  
Vol 19 (1) ◽  
pp. 139-150
Author(s):  
Dorota Olszewska ◽  
Jadwiga Synowiec
Keyword(s):  
New Technologies ◽  
Free Market ◽  
Distribution Channel ◽  
Corporate Image ◽  
Insurance Market ◽  
Insurance Companies ◽  
Business Success ◽  
Business Partners ◽  
Starting Point ◽  
The Individual

Dynamically changing insurance market and the growing expectations of customers and business partners, intensified competition cause the need of constant introduction or improvement of modern solutions. It is highly connected to innovations. It should be stressed that the transformation of Polish economy and the process of emerging of more and more new private companies caused, on the one hand the reduction of government role in economy and on the other hand it forced companies to obey free market rules, which characterizes the adjusting to environment and the growing share in the market. For the positive creation of corporate image the open attitude of managers and directors becomes extremely important. They are aware of the importance of innovation in company life. This novelty is being spotted by the surroundings of the company, and specifically by its business partners. The positive assessment of innovation is often the starting point of making new business relations. The negative assessment can make them difficult. A good company image is nowadays one of the most basic company aims, and the condition of business success. The creation of good company image by emphasizing the high level of innovation among potential customers (insurance agents, brokers) became one of the basic tasks for insurance companies, because the growth of the company depends on customers. Insurers being aware of the importance of innovation are forced to create such systems, which allows the introduction of new technologies in the process of selling new policies in every distribution channel. The aim of this article is to present the essence of the innovation on the insurance market and to show its significance in the customers appreciation. This article consists of two parts. The first part is theoretical and presents the characteristic of insurance market innovation and its significance in the development of branch. The second part of this publication contains empirical material such as data taken from survey studies conducted in 2016, in the field of innovation evaluation seen from main insurance participants perspective (individual and institutional customers). The research was conducted in Wielkopolska area on the sample of 180 individual and 151 institutional customers (MSP).

Development of insurance market in Slovak Republic and Czech Republic

2016 ◽  
Vol 17 (4) ◽  
pp. 0-0
Author(s):  
Jana Masárová ◽  
Eva Ivanová
Keyword(s):  
Czech Republic ◽  
Financial Market ◽  
Life Insurance ◽  
Social Factors ◽  
Slovak Republic ◽  
Insurance Market ◽  
Insurance Companies ◽  
Insurance Markets ◽  
National Insurance ◽  
Number Of Factors

National insurance market, which is part of the financial market is influenced by number of factors of national economy and the global economic environment. Czech Republic and Slovakia were until 1993 part of one state, after the split, both insurance markets of independent republics under the influence of various economic and social factors started to develop differently. The aim of this article is to identify commonalities and differences in the development of insurance markets in Slovakia and Czech Republic through a comparison of selected indicators. The analysis focuses on the following indicators of the insurance market: the number of commercial insurance companies, the share of life insurance premiums written on the insurance market and the concentration calculated according to the Herfindahl – Hirschman Index. Selected indicators are observed for the period during 2004 – 2014.

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.

Online Patient Consultation

2020 ◽  
Vol 158 (04) ◽  
pp. 345-350
Author(s):  
Christian Juhra ◽  
Jörg Ansorg ◽  
David Alexander Back ◽  
Dominik John ◽  
Andrea Kuckuck-Winkelmann ◽  
...  
Keyword(s):  
New Technologies ◽  
Communication Technologies ◽  
Phone Call ◽  
Insurance Companies ◽  
Personal Contact ◽  
Software Products ◽  
Patient Consent ◽  
Health Insurance Companies ◽  
Patient Consultation ◽  
Certified Software

AbstractNew communication technologies allow patients to communicate with their physicians from anywhere using computer or smartphone. Adding video to the mere phone call optimizes the personal contact between patient and physicians regardless of distance. Legal and reimbursements requirements must be taken into account, especially only certified software products must be used. In addition, patient consent is needed and confidentiality must be assured. The video patient consultation can be reimbursed by the health insurance companies. As with all new technologies, the introduction of these video consultations faced some challenges. Although patients and physicians have expressed great interest in this technology, it has been rarely used so far. The current COVID crisis increased the need for video consultations resulting in an increasing use of video patient consultation. It can be expected that this demand will still exists after the COVID crisis.

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