ДЕРЖАВНЕ РЕГУЛЮВАННЯ СТРАХОВОЇ ДІЯЛЬНОСТІ: НОВАЦІЇ В СУЧАСНОМУ ВИМІРІ

Abstract

Nowadays, any insurance company strives to be open and understandable in the context of its business culture. Constant development of technologies, insurance approaches, risks diversification, the increasing of policyholders demands to companies, all these create the basis for revising existingbusiness models of conducting insurance business.The purpose of the article is to study risks of insurance companies, to deepen the understanding of the concept of "risk management of the insurer's functioning" taking into account the importance of trust in this process, and on this basis to present the generalized format of the insurer's business model,taking into account the concepts of risk and trust.It is substantiated that in the most general view, the risks of insurers include the following types: strategic, tactical and operational. The specificity of the functioning of insurance companies determines the emergence of insurance, market, credit and operational risks. It has been proven that risk isclosely related to management, and the effectiveness of its management is the basis for the formation of a certain level of customer trust. The understanding of trust as an asset of the insurance company has been deepened. The relationship and interdependence between the riskiness of the functioning of insurers and the trust of policyholders is substantiated. The more qualitatively an insurance company manages risks and, accordingly,supports the effectiveness of its activities, fulfills its obligations to policyholders and other clients of the company, the higher the level of trust in it. Conversely, a high level of trust contributes to the formation of established partnership relations, support of a group of loyal customers, etc., whichin general leads to an increase in the effectiveness of the insurer's activities.A generalized format of the insurer's business model is presented, taking into account the concepts of riskiness and trust. It is proven that the formation of the level of trust in the insurance company makes it possible to assess the prospects of its work on the market and to identify directions thatrequire additional attention. In the competitive struggle, the insurance company that will achieve positive financial results, increase its capitalization, achieve success in the established risk management policy, and on the basis of this will actively build trust in itself, because it is on it that the entire insurancebusiness is built, will survive.