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Abstract
The article is devoted to the study of internet insurance development in the light of the new circumstances, including its catalysts and inhibitors. The relevance of the topic chosen is based on the fact that such distribution channel as internet insurance helps to minimize face-to-face contact while insurance services distribution, that plays important role during the pandemic of Covid-19. On the basis of the conducted research different approaches to the definition of "internet insurance" were considered and generalized definition was determined. The article examines the current state of the Ukrainian insurance market and its tendencies. The way of internet insurance development in China and its impact on the whole insurance industry was analyzed. Determined insurance services consumers’ willingness to use digital distribution channels, that showed significant growth in the past year. Although the insurance market in Ukraine is characterized by a low level of insurance culture and there are contradictions in the legislation of the insurance field, insurance companies tend to use innovations, including internet insurance. There are two internet insurance systems: on-line and off-line, which are characterized by different levels of internet use. Matrix of on-line and off-line internet insurance services of top 10 Ukrainian insurance companies in terms of gross insurance premiums is characterized. Insurance companies use combination of internet insurance system and related services based on internet technologies to attract consumers by more personalized offers. Analysis of internet insurance products number and available related services is carried out. Despite benefits of internet insurance there are some problems to deal with. Advantages and disadvantages of internet insurance are analyzed. Prospects for the development of internet insurance in Ukraine are substantiated. In order to enhance development of internet insurance, it is necessary to improve the current legislation of Ukraine and financial literacy. An important point is the use of international experience.
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