Формування конкурентних переваг і конкурентного потенціалу компаній зі страхування життя

Abstract

The article defines the competitive advantages and competitive potential of life insurance companies (LICs). It is noted that the insurance business is an important part of the financial and credit system, and the insurance market is an ideal place for the development of this industry. Attention is focused on the fact that the life insurance market in Ukraine is at the stage of formation. The current unstable socioeconomic situation, the military aggression of the russian federation, and the peculiarities of the cultural and historical traditions of Ukrainians are the main obstacles and problems for its development. Based on the carried out SWOT analysis, it is concluded that there are certain problems in the activities of LICs. Along with the spread of global trends in globalization and integration of national markets, automation of operational processes, increased competition, trends that are characteristic features of the Ukrainian insurance market are manifested. It is determined that the management of the competitive potential of LICs depends on the adoption of the right managerial decisions in the formation and use of its competitive advantages. The measures are presented in the form of program-target blocks that will provide the basis for creating a mechanism for managing the competitive potential of LICs. In addition, each of the blocks can be considered as a separate subsystem that consists of different components. The components of management of the competitive potential of LICs are defined. It is determined that the assessment of the insurer’s competitive advantages and competitive potential will be possible only with the help of a systematic assessment, which has a clear basis of comparison. This assessment should take into account not only the financial aspect, but also the results of management, the effectiveness of the use of marketing tools, the quality of insurance services and the service of the insured. Measures to increase the competitive potential of insurance services are presented. It is concluded that one of the important conditions for effective management of the competitiveness of life insurance companies is to determine the competitive advantages and competitive potential of LICs, which in the long run allows to assess the level of competitiveness of an insurance company and develop certain measures to adapt to the needs of the insurance market at all stages of operational activities and management links for a quick and prompt response to external threats.