Market Of Insurance Services Research Articles

TO THE CONCEPT OF INSURANCE INDEMNITY UNDER MOTOR TPL CONTRACTS

The present study is devoted to the issue of defining the concept of insurance compensation under contracts of compulsory motor third party liability insurance (hereinafter - CMTPL) in the system of related concepts of CMTPL using the formal-legal method of research. The article considers various approaches of insurance organisations to the concept of insurance indemnity in the context of legal relations in the field of CMTPL insurance, as well as examines the practical problems faced by both professional participants of the insurance services market - insurers, and persons who apply to them, whose property, in particular vehicles, has suffered as a result of damage caused to them by the perpetrators of road accidents. The paper analyses both regulatory legal acts in the field of CMTPL insurance and the practice of insurance organisations in carrying out their obligations under CMTPL insurance contracts in terms of insurance indemnities and related concepts: ‘insurance payments', “organisation of vehicle repair”, “insurance amounts”, etc. The paper concludes that it is necessary to establish legally the definition of the concept of insurance indemnity, to include in the content of this concept the organisation or payment for repairs within the insurance sum, and to justify the need to increase the terms of insurance indemnity in the form of repairs under CMTPL insurance contracts from thirty to forty-five days.

Problems and perspective of developing insurance in the international tourism business

An increasing number of tourists face risks and unforeseen situations while travelling: the limited availability of insurance products, deficiencies in risk coverage, and the failure to meet individual needs make relevant the issue of insurance in the international tourism business. The purpose of the article was to analyse current problems in the field of insurance at the international level and to highlight possible ways to solve them, as well as to determine the prospects for the development of this segment aimed at ensuring maximum safety and convenience for tourists. The article examines the state and prospects for the development of the international market of travel insurance services. With the application of the analysis method, a thorough review of the shortcomings in the activities of insurance companies was carried out, which made it possible to clearly determine the level of importance and provide practical recommendations for their solution. The abstract-logical method was applied to make conclusions based on the study of policyholders’ behaviour, their tendency to risk, and the choice of insurance products. The increase in the volume of tourist trips in the world is accompanied by the increase in appropriate insurance. It causes insurance companies and tour operators a number of problems, such as insufficient adaptation of insurance products to the needs and risks of tourists, limited geographical coverage, and complex registration and compensation procedures. However, there are also prospects for the development: new technologies, such as artificial intelligence and blockchain, which can contribute to the automation and facilitation of insurance processes. Expanding geographic coverage and adapting insurance products to the specific needs of tourists can also ensure the growth of the insurance market in international tourism. The practical value of the conducted research is determined by the development of recommendations for international insurance companies aimed at overcoming problems and reducing risks in the field of travel insurance, both for representatives of the insurance business and for travellers

Historical and legal foundations of the development of insurance in the Republic of Italy: theoretical and legal analysis

The article examines the historical and legal aspects of the development of insurance and the legal regulation of insurance relations in Italy. It is noted that the foundations of insurance relations and their legal regulation were observed in many countries of modern Europe, including Italy. It has been investigated that the first forms of insurance in Italy were observed as early as the times of the Roman Empire in the form of activities of religious societies and military colleges. It has been proven that the initial forms of insurance in the Roman Empire were built on the basis of the common interests of the participants, were non-commercial in nature and were not aimed at making a profit. It was established that from the 13th century. in Italy, there are mutual aid associations, which were created within the framework of craft guilds, which aimed to help their members in the event of certain insurance cases. It has been studied that starting from the 13th century. Italy becomes the center of marine insurance formation, centered in Genoa, Florence and Venice. The article states that the legal regulation of marine insurance was carried out in accordance with the norms specified in the Pisa Statute and other legislative acts, as well as insurance contracts that had a notarized certificate. It is noted that at the end of the 13th century. special courts were established to resolve disputes in the field of marine insurance. It has been studied that starting from the 14th century. in Italy, the formation of commercial insurance was observed, which was regulated by the Venetian Code of Marine Insurance and the Florentine Ordinance of 1523. It was analyzed that in the 15th-16th centuries. Art. in Italy, such types of insurance as dowry insurance, as well as annuities, tontines and loans, bets have become widespread. It was found that starting from the 18th century. in Italy, insurance companies are created in the form of joint-stock companies, marine insurance is provided by the Maritime Exchange Insurance Chamber, and fire insurance is developed. It is noted that since the XX century. in Italy is developing life insurance. It has been established that today Italy is one of the leading states that carries out insurance activities on the market of insurance services.

Отдельные вопросы правового регулирования защиты конкуренции на рынке страховых услуг

The article is devoted to the actual topic — regulation of competition protection in the field of insurance. This article studies the principles and main characteristics of the system of legal regulation of competition protection in the sphere of financial services in the Russian Federation and analyzes the peculiarities of legal regulation of competition protection in the market of insurance services. Based on the results of this analysis the conclusions were made about the extreme limitation of special legislative regulation of certain issues of competition protection in the field of insurance and, to a large extent, the scarcity of administrative and judicial practice in relation to these aspects of insurance. The analysis also resulted in a proposal to the legislator to introduce a clause on provision of insurance services into the provisions of part 1 of Article 18 of the Law on Protection of Competition by means of transition from the conclusion of agreements with insurers by the representatives of the PPOs not through a request for quotations, but through more transparent procedures of an open auction and an open tender.

Problems of insurance law and their solution in the legislation of the Republic of Kazakhstan

Relevance. The relevance of the study is explained by the growing interest of the world's legislative systems in regulating the insurance services market, especially in the private law sector market. In particular, the sale by the state to private legal entities of the rights of a claim for the obligations of the Insurance Benefit Guarantee Fund substantially liberalised the insurance services market under study. Purpose. The purpose of the study is to conduct a formal legal analysis of the national insurance legislation of the Republic of Kazakhstan and the use of comparative legal tools to examine promising institutions of insurance legislation in other countries. Methodology. The study used a systematic approach, epistemological tools of cognition, formal legal method. Results. The study on current problems of insurance law in the Republic of Kazakhstan and other countries revealed challenges such as the fragmentation of regulatory frameworks and a lack of public confidence due to undeveloped insurance mechanisms. The legislation amendments introduced in the Republic of Kazakhstan aimed to enhance accessibility, quality, and consumer rights protection in insurance services, focusing on mandatory types like civil liability and optional types such as life insurance and real estate coverage. Conclusions. The results of this study can be used both for further studies on the features of the insurance legislation of the Republic of Kazakhstan and for the regulatory work of legislative authorities, in particular in the field of insurance of construction activities. Keywords: insurance legislation; insurance payments; civil liability insurance; medical insurance; insurance of construction activities

Страховий ринок, ринок страхування і ринок страхових послуг: наукові погляди, нове розуміння і визначення

Educational programs need to be updated and improved, taking into account the latest legislative changes to correctly reflect the transformations of financial services markets and the evolution of the main concepts of financial science. This affects the quality of educational training, the scientific component in higher education institutions of Ukraine, and the professional competence of future practitioners and scientists. The article aims to reveal, improve the essence and formulate the definition of the concepts of the market of insurance services, insurance market, and market of insurance, taking into account the new legislation in the insurance field and achievements of financial science. The methodological basis of the research is the position of the theory of open economy, as well as the methods of system analysis. The study includes four sections: the first section provides a brief review of scientific works on the definition of the insurance market; the second section contains the analysis of Ukrainian insurance legislation regarding the insurance market; the third section presents the quantitative calculations and a new understanding of basic concepts; in the last subsection, the authors explain how the concepts of the insurance market and the market of insurance services differ, highlight the activities of the regulatory bodies of the insurance market, and show the unresolved problem of insurance guarantees in the market. The analysis points to the still unsolved problem of state guarantees of returning insurance premiums to clients if the insurer ceases insurance activity. In this regard, the expediency of creating the Insurance Guarantee Fund, which should become a participant in the insurance market, is argued. It was found that the concepts of the market of insurance services and the market of insurance are identical. The concept of the insurance market covers the market of insurance and is distinguished by the fact that there are regulatory bodies in the insurance market. Based on the provisions of the open economy theory and the analysis of behavioral aspects of market participants, the work proposes new definitions of the concepts of the market of insurance services and the insurance market.

АНАЛИЗ РЫНКА СТРАХОВЫХ УСЛУГ В РОССИИ: ПРОБЛЕМЫ, ПЕРСПЕКТИВЫ

The economic security of the company can be determined by analyzing the Russian insurance market. It is stated that over the past few years, the Russian insurance market has not escaped many problems related to economic fluctuations and sanctions, as has the entire economy of the country. Based on the analysis of various sources, the article substantiates the relevance of the problem, identifies the special role of new-level information systems with artificial intelligence and a distributed registry for the exchange of digital financial assets in the service market, and attempts to determine the financial stability of the Russian insurance market. It has been established that the insurance market in Russia in recent years shows that it has gone through a period of significant changes and adaptation to new economic conditions. The author suggests various areas and types of insurance that ensure the growth of the Russian market for these services. In general, the Russian insurance market demonstrates stability and readiness for change. Despite the challenges, it continues to develop, adapting to new economic realities and maintaining the potential for growth and development. Forecasts for the coming years suggest moderate growth and further development of the market in accordance with global trends and the internal needs of the economy. An important aspect is the further improvement of the regulatory framework, which will strengthen confidence in the market and create conditions for its further prosperity. Insurance services in this market are offered only by insurance companies. In this regard, based on the analysis of the activities of various companies, various approaches have been identified to assess the level of efficiency of the insurance market, as well as to assess the availability of conditions for the formation of this market and assess their possible impact on the economy of the region. So, for the insurance services market, state regulation of insurance activities is of particular importance, which involves mandatory licensing, to monitor the financial stability of insurance organizations. It is proved that the sustainable development of companies is impossible without including the social component of sustainable development in the investment decision-making process for better risk and profitability management. It is concluded that today the Russian insurance market continues to function in conditions of economic instability and sanctions pressure.

Analysis of Development Indicators of the Insurance Services Market in Uzbekistan

Analysis of Development Indicators of the Insurance Services Market in Uzbekistan

Legal regulation of insurance relations under martial law: force majeure

The article examines the specifics of the legal regulation of insurance relations in the conditions of martial law and the functioning of the insurance services market under the conditions of force majeure. On the basis of the analysis of scientific literature, regulatory legal acts, norms of current civil legislation and court practice, the peculiarities of providing insurance services under the condition of force majeure in the conditions of martial law were investigated.
 The destruction of the housing stock and infrastructure, significant damage, which became the inevitable consequences of the war in Ukraine. It was established that the insurance institute is one of the effective mechanisms aimed at providing compensation and compensation for losses to citizens as a result of military operations. Insurance is aimed at protecting the property interests and safety of both individuals and business entities.
 It is noted that the occurrence of insurance events related to the loss of housing stock and other property by citizens of Ukraine as a result of military operations after February 24, 2022, should not be a reason for refusing to pay insurance compensation.
 It is proven that the introduction of the legal regime of martial law with the beginning of the war involves the possibility of limiting the constitutional rights and freedoms of a person and a citizen, the rights and legal interests of legal entities. At the same time, the fact of the introduction of martial law should not affect the validity of any transactions, including the validity of insurance contracts, and all rights and obligations of the parties remain valid.
 Insurance contracts are valid regardless of the introduction of martial law in Ukraine, with standard force majeure clauses that apply to other types of contracts.
 It is noted that the war in Ukraine belongs to force majeure circumstances (circumstances of irresistible force). It is established that insurance does not constitute any exception in the context of force majeure. It is noted that the parties to the insurance contract may refer to force majeure as a basis for releasing them from liability for non-fulfillment of the terms of the contract.
 In order to improve insurance activities during the period of martial law, the National Bank, as a regulator in the market of insurance services, on February 27, 2022 recommended to insurers to simplify the procedure for settling cases that have the characteristics of insurance, by making maximum use of electronic documents and copies of necessary documents in case of impossibility or complications the possibility of obtaining their originals, as well as using other means of remote settlement of insurance cases.
 Based on the results of the research, it is summarized that the market of insurance services in Ukraine during the period of martial law should work taking into account the emergence of new challenges.

Analysis of the activity of the insurance company and prospects of its development on the market of insurance services (on the example of PJSC “Insurance Group “TAS”)

The relevance of the work lies in the need to ensure the effective operation and development of insurance companies on the insurance services market in the conditions of globalization and growing international competition. The purpose of the study was to define the essence and to do the analysis of insurance services for individuals and legal entities as well as the prospects for their development. The study used the method of analysis and synthesis, and the factor analysis of the overall profitability indicators was also carried out. The analysis of insurance services was carried out on the example of the activities of the insurance group “TAS”. The main results of the study are presented in the analysis of the financial and economic indicators of the insurance group “TAS”. The dynamics of insurance premiums, insurance payments and insurance reserves of the company under study, including those by type of insurance services, are analysed. The analysis proved that the insurance company “TAS” currently holds the leading positions on the Ukrainian insurance market in terms of insurance payments. The factors that positively influence the development of insurance and ensure its constant financing are considered. In order to determine the level of profitability on the insurance services market, the article analyses profitability indicators for the products of the insurance company “TAS” and tracks the impact of changes in the structure and volume of insurance products on these indicators. The article presents the structure of the insurance development cycle, which allows to define the goals of insurance services development and requires an assessment of the company’s capabilities for their implementation. It is proved that the introduction of new insurance services will allow the insurance company “TAS” to ensure continuous and stable operation on the market. The practical significance of the research lies in the substantiated prospects for the development of insurance company services

DEVELOPMENT OF MEDICAL INSURANCE MARKET RESEARCH PROCESSES

This article provides a comparative analysis of the state of development of medical insurance services market research. Also, the scientific works of scientists who conducted research related to reimbursement of expenses for the treatment of the insured person as an object of medical insurance were analyzed. In addition, the "Healthcare system rating" and indicators of its structural components and a comparative description of the existing mandatory health insurance systems were carried out in the world. In addition, conclusions and proposals for the development of research processes of the health insurance services market have been developed

FEATURES OF MARKETING IN INSURANCE ACTIVITY

Introduction. The peculiarities of insurance marketing are determined, on the one hand, by the nature of the insurance service, and on the other, by the specifics of the insurance market. In modern conditions, the role of insurance marketing in the activities of insurance companies is growing, which is connected with the change in lifestyle and the risks that arise, increased competition in the insurance market, the development of digital technologies, and the growing awareness of the need and role of insurance in protection against risks. Therefore, a necessary condition for the successful operation of any insurance company in a competitive environment is the development of an effective marketing strategy that makes it possible to attract new customers, retain existing ones and increase profitability, as well as develop the brand and positive image of the insurer. The purpose of the article is to determinate the main areas of improvement of insurance marketing in Ukraine through the analysis of key factors affecting the quality of marketing policy in the context of the provision of insurance services. Results. The article identifies the main factors influencing the rapid development of insurance marketing. Based on a retrospective analysis, the main stages of the formation of insurance marketing (from the beginning of the 60s of the 20th century to the present) are considered. The key elements of the insurance marketing complex are identified, based on the theoretical and methodological principles of the functioning of marketing as an economic process. In order to deepen the understanding of the concept of insurance marketing, the existing approaches to defining the concept of "insurance marketing" were considered. Classification of influencing factors on consumer behavior in the context of insurance marketing is proposed. The peculiarities of insurance marketing are analyzed and the main aspects of the implementation of an effective insurance marketing strategy are summarized, taking into account international experience. Conclusions. Insurance marketing in Ukraine is becoming an increasingly important component of the success of insurance companies, especially in the conditions of growing competition in the market of insurance services. Accordingly, insurance companies in Ukraine actively use various marketing strategies to attract and retain customers, increase profits and promote the brand The main areas of improvement of insurance marketing in Ukraine are: use of digital communication channels, such as social networks and other online channels; personalized insurance products and services that meet the individual needs of clients; development of innovative insurance products and services; improving the quality of service and transparency of insurance services, which will allow insurance companies to increase the trust of clients in their services and ensure stable development in the market; use of artificial intelligence and data analytics.

Ресурсний потенціал страховика в сучасних умовах ведення діяльності

The aim of the article is to substantiate the components of the resource potential of the insurer as a complex category that characterizes the activity of the subject and allows it to move towards the set goal of activity. In the analysis of professional literature in terms of the content and components of the resource potential of an economic entity, the content of the concept of «resource potential» of the insurer is clarified and its components are outlined. At that, the allocation of components was carried out taking into account the objective-subjective and resource-functional composition of the potential. As a result of the study, it is concluded that financial, material, investment, personnel, information, and technological potentials are directly related to the resources of the insurer, the relationship between which allows the company to provide quality services, apply innovations in the insurance market, provide opportunities to compete in this market and achieve the planned goals. A characterization of the mentioned types of potential is provided. In particular, the financial potential is characterized by allocating the indicators by which it should be analyzed. The material potential is described in terms of the totality of tangible assets and resources that an insurance company can or already uses in its activities. The personnel and technological potentials are characterized by directions and possibilities of their application. The informational potential is defined by a company’s ability to collect, process, store, and use information for decision-making, business process optimization, customer service, and risk management. The investment potential allows the company to receive additional funds and expand its activities. Effective use of the resource potential is manifested in the formation of strategic and market potential of an insurance company and significantly strengthens its competitive position in the insurance services market.

INSURANCE COMPANIES AS PRODUCERS OF INVESTMENT FINANCIAL SERVICES

Introduction. Insurance companies are among the largest investors in countries with developed insurance markets. At the same time, it is legitimate to consider them as institutional investors. In today's conditions, foreign insurance companies demonstrate the intensification of life insurance, which, in turn, determines the need to improve existing insurance products and/or introduce non-traditional products, which include investment life insurance. The latter are a popular instrument in the market of insurance and investment services, primarily due to the combination of such features as insurance protection and profitability. The successful operation of life-insurers in a constantly dynamic and competitive environment is associated with their ability to quickly respond to the challenges of the external and internal environments, and not only to adapt to them, but also to use new circumstances for increasing the competitiveness and capitalization of the company, as well as preserving and expansion of own client base. The purpose of the article is to study the specifics of the activity of insurers as institutional investors, on the one hand, and their ability to produce investment financial services, in particular investment life-insurance services, to identify the attributes of the latter, differences from classical life insurance and outline the prospects for the development of investment-oriented life insurance on the domestic insurance market. Results. It is identified the features of the functioning of insurance companies as institutional investors. The definition of “investment potential of an insurance company” was defined and deepened. The specifics of investing insurance reserve funds and investment opportunities for non-life and life insurers are argued. Modern trends in the development of the life insurance market and, accordingly, the latest formats in the management of assets of life insurers have been revealed. The specifics of investment life insurance are clarified and its attributes are formulated. The differences between classic mixed life insurance and investment life insurance are systematized according to the following criteria: motivation for concluding the contract; placement of insurance premium; the principle of calculating insurance premiums; obligations of the insurer; the amount of the redemption amount; the possibility of receiving additional payments; the dynamics of increasing the premium reserve. Trends in the development of investment life insurance in Europe and on the Polish insurance market have been analyzed. Conclusions. Modernity requires the implementation of the latest approaches to the activities of insurance companies, in particular in the area of production of investment financial services, namely investment life insurance. Classical standards in life insurance are gradually being abandoned, which contributes to the dynamic development of insurance worldwide, which provides for the payment of insurance coverage depending on the dynamics of stock values. The need to develop investment life insurance on the domestic insurance market – a financial instrument that embodies both insurance protection and an accumulation opportunity with the help of investments – has been proven.

Characteristic features of the operation of the insurance market of Ukraine in the conditions of martial law

The purpose of the article is to analyze the current state of the insurance market of Ukraine and highlight the peculiarities of its functioning. The relevance of the research is driven by the changes in the structure and functioning mechanisms of this market, associated with the introduction of a new model of its regulation.
 The article defines the essence of the insurance market and its main functions. The current state of the insurance market of Ukraine was reviewed, the main indicators of its development were analyzed with the determination of the reasons for their changes for the period 2019­2022. The most significant trends in the market of insurance services were characterized, among which the follo wing are highlighted: a decrease in the volume of gross insurance premiums; reduction of the number of insurers; increase in the level of insurance payments; decrease in the insurance penetration rate.
 Market problems were identified, the main ones being the low solvency and liquidity of insurers; imperfection of insurers’ business models; lack of market transparency andproblems in corporate governance; lack of a mechanism for guaranteeing insurance payments under long-term life insurance contracts; low demand for insurance services due to distrust in the opaque insurance market and low solvency of the population.
 The peculiarities of the insurance market of Ukraine related to the change of the regulator and the beginning of reform are characterized. The main elements of the new insurance market regulation model, built on the principles of the International Association of Insurance Supervisors (IAIS) and the provisions of the European Union directives, are reviewed.
 The basic norms of the new Law of Ukraine “On Insurance”, which will come into effect on January 1, 2024, have been considered. It was concluded that the preparation of the law took into account numerous proposals of scientists to increase the efficiency of the functioning of the insurance market. It was emphasized that the introduction of a new model of regulation and supervision of the insurance market and improvement of the legislative support for reforms will allow solving a number of existing problems in domestic insurance.

Modelling the Performance of the Financial Market

The intensification of globalization processes, the desire to integrate into the European financial and economic system, and the merger of national markets into one international financial system create preconditions for the emergence and intensification of processes and phenomena negatively affecting the level of development of the country’s financial system and the national financial market, where the mechanism of redistribution of capital between creditors and its suppliers functions on the basis of indicators of supply and demand. Effective organization of the financial market contributes to the financial system’s stability and meeting the economy’s needs in investment resources through the accumulation of temporarily free financial resources. The purpose of the research lies in analyzing the effectiveness of the financial market of Ukraine and identifying the impact of indicators of banking, insurance, and securities markets on its importance. The method of economic analysis, synthesis, comparison, analogies, classification, systematization, generalization and method of modelling the effectiveness of the financial market based on the construction of equations of dynamic programming has been used in the research. As for the results of the study of modeling the performance of the financial market, it has been established that the results of the banking, insurance and stock markets have a decisive influence on the analysed indicator. During 2017‒2020, the number of banks in Ukraine has significantly decreased (by 10,98 %), including the number of banks with foreign capital by 13,16 % and the volume of loans provided to customers (by 7,63 % in 2019 and 13,87 % in 2020 compared to 2018), which proves a decrease in customers’ confidence in the banking system. At the same time, the activity of the market of banking services is assessed as effective. As for the market of insurance services, in the period under review, a decrease in the number of insurance companies by 28,57 % is observed, and there is an instability of its functioning. The results of the activities of securities’ market also show instability, in particular, in 2020 the number of shares decreased by 88,23 % compared to their volume in 2017. It has been substantiated that the modelling changes in the performance indicator of the financial market should be carried out by establishing interdependencies between its structural components, and the dominant influence of managerial actions and decisions made regarding financial resources has been proved.

Trends in the functioning of the Ukrainian insurance services market

The Ukrainian market of insurance services is at the stage of formation and development in the absence of a clearly defined model for further functioning. The purpose of the paper is to analyze the trends in the functioning of the Ukrainian insurance services market in the period of 2010–2021.The results of the study reveal the general trends in the functioning of the Ukrainian insurance services market in terms of transformational features of the market composition (a significant reduction in the number of insurers – by 2.5 times), concluded insurance contracts (a significant increase by 3.5 times), market concentration (moderately concentrated), the level of insurance penetration (the average value was 1.64%).Considerable attention is paid to the interpretation of the main indicators of market activity and their dynamics, in particular, in terms of insurance premiums and payments (the level of insurance payments was 32.2%), assets of insurers (increase by 1.5 times), formed insurance reserves (a noticeable increase by 3 times), digital transformation (in terms of internetization, individualization, digitalization).The study made it possible to form promising vectors for the development of the Ukrainian insurance services market based on the model of social responsibility of participants in the insurance process with clear digitalization outlines and the formation of insurance relations based on innovative approaches. AcknowledgmentThis study was supported by the Ministry of education, science, research and sport of the Slovak Republic [grant VEGA 1/0689/20 Digital economy and changes in the education system to reflect labour market demands].

Formation of the mechanism of innovative development of insurance companies in the market environment

Ensuring the efficient operation and development of companies in the insurance services market in the context of globalization and growing international competition is possible only through the development and implementation of innovations. The object of the study is the services of insurance companies. Theoretical and methodological foundations of the formation of the mechanism of innovative development of companies in the insurance services market in modern economic conditions have been studied. A rating analysis of insurance companies in Ukraine was carried out and their innovative development in the market environment was substantiated. Based on the insurance protection system, an analysis was made of the use of the resources of the insurance company and the level of earmarked funds. Analysis of studies has shown that the leading insurance companies are financially stable and provide high guarantees for the preservation, accumulation and timely payment of funds. The activity of the leading company in the insurance services market of the PJSC "Insurance group TAS" (Ukraine) is considered. The analysis of experts and its position in the market of insurance services is carried out. The results of the analysis allow us to state a stable increase in its market position in terms of insurance premiums, payments and reserves. The forecasting of economic indicators based on trend models, based on the idea of extrapolation, was carried out, the results of which indicate that the gross amount of the insurance company in the planned year will increase by 21.09% compared to 2019. It is proposed to ensure the innovative development of the insurance company through the implementation of the "Full Business Protection" program. It has been proven that its implementation will allow the insurance company to ensure continuous and stable operation. The components of the strategy of innovative development of the insurance company have been formed. A mechanism has been formed for the strategic innovative development of insurance companies, which includes 4 blocks: planning, implementation, analysis and control

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Abstract. Introduction. Tourism for many countries is a priority for the national economy, as this industry has a positive multiplier effect on other economic activities. The high degree of riskiness of tourist activity necessitates the use of insurance mechanisms and insurance protection for all participants in the tourist market. Insurance allows you to optimize resources for the organization of insurance protection. It contributes to the rational structure of funds aimed at preventing (or promptly eliminating) the effects of risks that hinder the activities of economic entities. Purpose. The aim is to determine the role of insurance in ensuring the economic security of the tourism business and to develop practical recommendations for the development of insurance protection in the field of tourism. Results. Ensuring the safety of life and health of tourists and excursionists in Ukraine is a necessary condition for quality in the organization of tourist and excursion programs and a priority for all actors in the hospitality industry. The system of services to provide insurance protection against risky situations during a tourist trip is quite complex. This is due to the heterogeneity of probable adverse events that may occur at a particular time or under certain circumstances. Such services include insurance of life and health of the tourist, his property and liability, etc. Specific types of insurance against tourist risks are insurance in case of transport delays, bad weather during the stay of insured persons on vacation, as well as failure to provide or improper provision of services specified in the tourist voucher, etc. The current state of development of the domestic market of insurance services and travel insurance is analyzed. It is determined that the largest segment of the travel insurance market in Ukraine is health insurance. Insurance companies are currently creating insurance systems that, depending on their cost, may include a range of services, including evacuation and first aid services, as well as a range of services such as: payment for visits by relatives to the injured tourist in the host country, dental help, etc. Conclusions It was found that the main factors hindering the development of tourism insurance are: low insurance culture of tourists, owners and employees of tourism enterprises; public distrust of financial institutions; cases of insurance fraud against consumers of tourist services; imperfect legal framework and organizational and economic support, etc. A number of measures at the macro and micro levels are proposed for the development of tourism insurance in Ukraine, which will minimize threats to the safety of tourists and help ensure the economic security of the tourism business.

Statistical analysis of activity of insurance companies of Ukraine by cluster analysis tools

The financial and economic activity of the leading insurance companies of Ukraine is analyzed, as the global pandemic COVID-19 has made significant adjustments in the activities without exaggeration of all companies, both nationally and globally. Therefore, the analysis of the insurance companies of the national economy is very important issue, because the accumulation of financial resources of insurance companies can be used as domestic investment in the national economy. The surveyed insurance companies: Alliance, Asuka, Arsenal Insurance, Alpha Insurance, Uniqa during the crisis period of 2019–2021, managed to maintain their position in the market of insurance services, and even improved their financial results, because insurance services are now more relevant than ever. The development of financial resources of insurance companies can be one of the levers of financing and investing in strategically important aspects of consumer life, such as health insurance, both locally (communities, regions) and more globally nationally, such as life insurance in general and insurance for example risky professions such as medics, including primary care, rescuers, military. In our opinion, more in-depth research of the insurance market of the national economy will make it possible to prepare the change in legislation and structure the economic activities and cooperation of national insurers, in order to improve the activities and monitoring of state regulatory institutions. In order to do this, in this paper we propose to use the tools of cluster analysis, using modern software with elements of artificial intelligence. The financial results of the main national insurance companies are studied, and due to modern tools of cluster analysis, we have clustered the studied insurance companies, using modern information programs Matlab, have made calculations in user-friendly interface. and have constructed the dendrogram that clearly represents the clusters formed. Modeling based on cluster analysis makes it possible to combine leading insurance companies into clusters of financial performance, which will allow and strengthen synergies between national insurers, which in turn will strengthen the exchange of experience, and possibly customer bases between existing insurance companies, and it is convenient for investors to consider companies united in insurance groups in order to invest investment resources.