Abstract
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.
Highlights
Today in the insurance market of Ukraine, there are tendencies to use modern technologies in the field of business management, as well as new information technologies, but they are the driving force that allows insurance companies to interact with increasingly demanding and impatient customers successfully
The introduction and use of innovations for the insurance market of Ukraine is one of the most important conditions today. This is necessary for a prompt response to all the challenges of the modern world, the growth of consumer demand and for the opportunity to offer a current line of insurance services to specific customers
Under the terms of the insurance program, the telematics device and the CASCO SMART application are provided free of charge
Summary
Today in the insurance market of Ukraine, there are tendencies to use modern technologies in the field of business management, as well as new information technologies, but they are the driving force that allows insurance companies to interact with increasingly demanding and impatient customers successfully. For the effective development of the insurance services market it is necessary to use the Internet marketing tools (Liliya Іgnatovich, 2020) The phrase “insurance telematics” is not clear to many people today It is actively gaining momentum in the modern world, because it represents significant benefits for both insurance companies and car owners. Telematics in insurance is an opportunity to reduce the cost of the policy for a single driver. Insurance telematics allows you to collect data about each car owner, including driving style, travel frequency and mileage. In this case, the cost of the insurance policy is formed for each individual driver. The Western world is already actively using telematics in insurance and Ukraine is still lagging behind
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