Service Consumers Research Articles

Music streaming services and the drivers of customer purchase

Purpose- The music industry has undergone tremendous changes in relation to its production, distribution, and consumption habits due to the exponential development of new technologies, namely streaming platforms. This study aims to understand the factors that influence music consumption through streaming platforms, particularly analysing the differences between premium and freemium users on the intention to adopt premium (paid) versions of a music streaming service. Methodology- UTAUT2 model (version of the Unified Theory of Acceptance and Use of Technology, applied to the consumer side) was used as framework. Based on data collected from 324 music streaming services users (premium and freemium), this study was tested using structural equation modelling (SEM). Findings- Our findings, focused fundamentally on the initial period of pandemics (2020-2021), confirm that facilitating conditions, price value and performance expectancy play the most important role in influencing the intention to use a paid music streaming service for the premium sample. However, the freemium sample finds habit, price value and hedonic motivation the variables most relevant. Conclusion- The research contributes insights into music streaming services consumer behaviour, providing several theoretical and practical implications to music streaming services providers. Keywords: Adoption, customer purchase, music streaming services, SEM, UTAUT2 JEL Codes: M31, M37, C88, L82

The changing role and behaviour of consumers in last mile logistics services: A review

The growth of e-commerce and omnichannel retailing has led to significant changes in urban logistics deliveries. In addition to the traditional delivery channels, new solutions have been introduced, such as click-and-collect, parcel locker delivery, crowdshipping, and on-site delivery. However, such solutions require seamless connections between different layers of the city logistics system. These connections form, in the Physical Internet terminology, a “hyperconnected city”. In this context, how do consumers make decisions about logistics services, either as prospective users or as suppliers of last mile logistics services? We argue that a thorough understanding of consumers’ decision-making about last mile services is a prerequisite for the effective exploration of future demand for these services and the design of transport policies. While there is abundant literature on new approaches of last mile logistics, a review of research on consumers’ decision-making and participation in such services is absent. This paper aims to provide such a review and, based on this, provides directions for future research. Based on the existing literature, we propose a conceptual framework that categorises decisions and system attributes affecting consumers’ decision-making. Highlights for future research include interaction between consumers’ demand and supply decisions, changes in consumer preferences, the importance of social networks, and the city-level impacts of hyperconnected last mile delivery.

Conceptual Aspects of Quality Assurance in Higher Education

This article presents the main provisions of the Concept of Quality Assurance of Higher Education, which is considered both from the point of view of the consumer (student, employer) and from the point of view of compliance with the consumption of an educational service (product). The essence of the new paradigm of quality assurance is substantiated, based on the assertion that quality is a relative and multi-level concept. Approaches to quality assurance at different levels of management, differing in the instrumental part, are characterized. The thesis that the quality management system is understood as an organizational structure, policies, processes, procedures and resources necessary for the implementation of quality management is revealed. The authors presented Vision for the formation of a culture of quality. At the same time, the level of quality culture is determined both at the institutional and national levels. The essence of the quality assurance methodology, which is a system of principles and methods of organizing activities to support and improve quality, is revealed. The methodology of the quality assurance system is based on academic values and fundamental principles. Important elements, methods and tools of the system are presented internal quality assurance.

Cohort consumption in the Russian Federation

The current demographic situation in both developed and developing countries is characterized by an aging population. From an economic perspective, this phenomenon holds practical significance for studying anticipated changes in the structure of state budget revenues and expenditures, as well as alterations in the overall consumption of goods and services. This paper investigates the spending patterns of different generations in the Russian Federation. In foreign literature, there is an observed increase in consumption with each successive generation compared to its predecessor. This trend is commonly attributed to declining fertility rates, the accumulation of capital by one generation, and its subsequent transfer to the next. Consequently, the younger generation tends to possess more capital than their forebears. The level of consumption across generations is also influenced by the life expectancy of the population; an extension of healthy life expectancy enables individuals to remain active in the workforce beyond retirement age. Utilizing data from the Russian Longitudinal Monitoring Survey (RLMS), HSE conducts cohort consumption estimates for the years 2000-2020, categorized into five-year age groups. The study results indicate an increase in consumption levels beyond the age of 50 for cohorts born between 1930 and 1955. Conversely, for cohorts born between 1960 and 1999, the consumption levels below the age of 50 remained relatively unchanged.

Designing Advertising Videos as Promotional Media In 3D Animation Based Computer Embroidery Services

The embroidery services business in Indonesia, starting from mid-2009, has begun to show its prospects. Until early 2016, the embroidery service business was growing rapidly since the advent of computer embroidery. Currently, many computer embroidery service owners are competing for the continuity of the service. Competition cannot be separated from advertising media aimed at promoting products and services. The problem in this research is how to promote computer embroidery services in increasing business productivity, how to introduce the public to computer embroidery services and how to design promotional advertising videos based on 3D animation. The computer embroidery business currently only relies on catalogs, where catalogs are only able to display information in the form of images in 2 dimensions to carry out promotions, so it needs to be developed further to create an attractive computer embroidery business model so that consumers are interested in using computer embroidery services. Consumers will be very interested if the catalog can present a form of visualization in the form of a 3-dimensional model that can be seen from various sides. This research implements 3D animation for marketing computer embroidery services using Blender software, the results of which will be used as promotional media. This research uses Blender software and aims to produce 3D animated advertising videos in order to market and promote computer embroidery services as well as as a medium of information and promotion to the public or consumers of computer embroidery services. The results of this research are in the form of advertising videos as promotional media for 3D animation-based computer embroidery services.

Integrated Health Care for frail elderly people with complex needs.

Background: Demographic changes will lead to an increase in older, frail and complex patients. This place a high demand on health care systems and requires the care system to work more preventively, user-driven and coherent. For the most efficient use of resources, it becomes important to identify patients with the greatest potential to benefit. Digital aids may help to identify such patients.
 Design, implementation and monitoring of the initiative: In this pilot project the patient group is frail elderly people with complex long-term needs who face multiple care providers. These patients are especially vulnerable to care fragmentation. This group also dominates the 5-10% top spenders who account for 2/3 of high-level health care spending both in Norway and internationally.
 Intervention: Akershus University Hospital (Ahus), a 1098 beds hospital has with 6 associated municipalities developed a model for closer interdisciplinary collaboration around the frail elderly with complex needs and high consumption of health care services. This model is called Integrated Health Care (IHT).
 We designed a computer application that uses deidentified health care data to identify risk patients based on age (>65) and number of emergency admissions the last six months (>3) spread over two or more different specialist departments. When a patient is included in IHT a multidisciplinary team (IHT-team) across primary and secondary care visit the patient at home. The IHT-team consists of a nurse and geriatrician from the hospital and a nurse and general practitioner from the municipality. In the conversation during the home visit, emphasis is placed on what is important to the patient. The team map risk areas and need for assistance. An individual treatment plan is created based on this conversation. The patient gets a contact person in the hospital and one in the municipality. If the patient is admitted to hospital, the IHT-team will receive an automatic notification and thus follow the patient during the hospital stay. Every 6 months there will be a follow-up conversation and opportunity to adjust the treatment plan. 
 Results: The first patient was included in 2020 and so far 63 patients have been included (40 of these have been followed for longer than 12 months) and the feedback is good. The patients and relatives highlight the importance of a patient-centered approach. They feel that the IHT-project provides increased security and predictability. We have seen a dramatic decrease in acute hospital admission for those patients included in the program; from on average 3 acute admissions the 6 months prior to inclusion, and 1,25 acute admission the 6 months following inclusion in IHT. There has also been a decrease in use of short-term stays in the municipalities.
 Conlusion: Our IHT method is effective in identifying patients at risk of frequent hospital admissions. Offering targeted and multidisciplinary services to frail patients seems to be effective in reducing acute admissions and use of health care services in the muncipalities.
 Next steps: We are now about to expand our project to more municipalities, and aim to calculate health care costs.
 
 
 

PROBLEMS OF BALANCED PROTECTION OF THE RIGHTS AND INTERESTS OF CREDITORS AND CLIENTS AND THEIR POSSIBLE SOLUTIONS / ՎԱՐԿԱՎՈՐՈՂՆԵՐԻ ԵՎ ՀԱՃԱԽՈՐԴՆԵՐԻ ԻՐԱՎՈՒՆՔՆԵՐԻ ԵՎ ՇԱՀԵՐԻ ՀԱՇՎԵԿՇՌՎԱԾ ՊԱՇՏՊԱՆՎԱԾՈՒԹՅԱՆ ՀԻՄՆԱԽՆԴԻՐՆԵՐԸ ԵՎ ԴՐԱՆՑ ՀՆԱՐԱՎՈՐ ԼՈՒԾՈՒՄՆԵՐԸ

The development of financial markets is currently characterized by the emergence of new products, the expansion of the geography of financial organizations, the elimination of the boundaries of financial services, the creation of new platforms for the provision of financial products through the use of modern technologies and a number of other trends. On the one hand, they increase the availability of financial products and services for various groups of consumers, and on the other hand, they create additional risks of infringement of their interests and rights, new types of financial violations. As a result, all this ultimately affects the functioning of the financial market. The article is devoted to the protection of the rights and interests of creditors and clients in the provision of financial services. The risks in the provision of financial services as a result of the emergence of new financial products are analyzed. The tasks and objectives of behavioral control by the regulatory body are presented. Approaches aimed at improving the protection of the rights and interests of financial service providers and consumers are proposed.

A data‐driven assessment of mobile operator service quality in Ghana

AbstractThe rapid proliferation of mobile services has increased the need for data‐driven oversight of service quality, yet deriving insights from regulator‐collected datasets remains challenging. This study demonstrates techniques to tap the rich potential of drive test measurement data for analytical regulatory and policy decision‐making. Focusing on leading operator MTN in Ghana, we analyzed 4 years of drive test data supplied by the telecom regulator for the capital city of Accra. Three key performance indicators were evaluated—coverage, call setup time, and speech quality. We assessed service quality trends through statistical summaries, data visualization, and machine learning modeling and predicted speech quality scores. Our analysis revealed deteriorating performance post‐2019 and found that the light gradient boosting machine algorithm provided the highest accuracy predictions of speech quality. Overall, this work showcases how regulators can capitalize on vast datasets using big data mining techniques to evaluate network conditions over time and geography, enhancing field measurements for oversight. Our approach and techniques provide a template for evidence‐based policy‐making to uphold consumer service quality as mobile networks evolve.

DIGITAL TRANSFORMATION IN THE BANKING BUSINESS

In the article examines the theoretical essence of digital transformation and digitalization of banks. The characteristic features of the implementation of digital services in the banking system are considered. The prerequisites for accelerating the development of digitalization of the banking business have been determined. The main positive consequences of the digitalization of the banking system (quick execution of payments and transfers, receiving information about account status and payment history 24/7; saving time visiting bank branches, access to information about credit or deposit accounts, etc.) and obstacles on its way are highlighted development (low digital literacy of the population, financial inability of some consumers of services and products to purchase the necessary gadgets for remote resource management). 
 The characteristics of digital stable convenient banking services (blockchain, crowdfunding, cloud banking, open banking, sharing) are considered in detail. It has been established that the new financial and digital paradigm is already an integral part of the rapidly changing environment and a tool for meeting the demanding needs of both consumers of banking services and banks themselves. The new financial and digital paradigm is already an integral part of the rapidly changing environment and an important tool for meeting the needs of both consumers of banking services and banks themselves.

ISSUES OF PROTECTING CITIZENS' RIGHTS IN THE FIELD OF FINANCIAL SERVICES

Today, in the Russian Federation, situations of violating the rights and interests of consumers of financial services are quite often allowed, which negatively affects the economic situation of citizens and undermines confidence in the banking system of the state. The purpose of the study is to analyze the judicial practice and to develop recommendations for consumers of savings services and services on providing borrowed (credit) funds, compliance with which will significantly reduce the risks arising from concluding and executing bank deposit and loan agreements. Materials and methods. The materials of the reports made for the International Confederation of Consumer Societies on the state of protecting the rights and interests of consumers of the savings services market in Russia were used. General and specific methods were used as research methods, including system-legal, logical, structural-functional ones and others. Study results. Based on the analysis of modern legislation, law enforcement and judicial practice of the Russian Federation, the authors have identified the most typical violations of consumer rights in the market of savings services and services for providing borrowed (credit) funds. Of particular interest are cases related to toughening the requirements for personal identification and security of banking operations in the context of digitalization of the economy, which cannot but affect traditional procedures for processing and withdrawing funds under a bank deposit agreement. The article analyses the most common situations of violating the rights and legitimate interests of consumers of savings services and services for providing borrowed (credit) funds in Russia during execution of bank deposit agreements and loan agreements. The issues that require regulation in order to avoid violation of the rights and interests of the parties to the above-mentioned agreements have been studied. Recommendations are also proposed to reduce risks when implementing protection of savings services consumers, which was the ultimate goal of the study. Conclusions. Realization of the citizens' constitutional right to judicial protection of banking services, on the one hand, reveals acute and obvious problems in this area, on the other hand, contributes to optimization of banking and civil legislation. In the context of financial services digitalization, the interests of citizens are not sufficiently protected. However, solution to the problem should be comprehensive, since cases of cybercrime are often associated with mobile communications; therefore, they depend on the effectiveness of control and supervision in this area. It is important to provide the consumer with preliminary structured information that enables him to realistically assess the risks and, on this basis, make a well-founded decision about opening or managing an account.

Grey relational analysis-driven optimization of neutrosophic MAGDM for cloud SaaS credibility evaluation

In the basic cloud service delivery model, since SaaS (Software as a Service) is located at the application layer, if a relatively complete cloud service credibility comprehensive evaluation framework can be established from the perspective of SaaS cloud service consumers and combined with their trust context, it can not only effectively solve the trust problem between cloud service consumers (CSC) and cloud service provider (CSP), but also has very important practical significance for the popularization and promotion of SaaS service applications. The credibility evaluation of SaaS services in cloud computing environment is often considered as a multi-attribute group decision making (MAGDM) problem. In this paper, the grey relational analysis (GRA) method is extended to the single-valued neutrosophic sets (SVNSs) setting to deal with MAGDM with incomplete weight information. First, the SVNSs are reviewed. In addition, the single-valued neutrosophic number GRA (SVNN-GRA) is established for MAGDM with incomplete weight information, and the computational steps for all designs are listed. Finally, the credibility evaluation of SaaS services in cloud computing environment is given to demonstrate the SVNN-GRA model and some comparative analysis is done to demonstrate the SVNN-GRA.

Условия развития рынков персональных услуг муниципальных образований сельского типа

The relevance of considering the regional personal services market as a component of the regional consumer services market plays an indisputable role for the development of economic growth in rural areas, as well as for the development of the rural infrastructure services market. The article is devoted to the identification of re-gional conditions for the development of personal services markets of rural municipalities. The subject of the study is socio-economic relations arising in the economic space of rural municipalities and directly affecting the markets of personal services, their development. The methodological basis of the study is presented on the basis of a systematic approach that allows identifying local markets for personal services of rural municipalities as a component of the regional consumer market. The article presents an analysis involving the disclosure of strengths and weaknesses, as well as prospects (opportunities) and threats affecting the markets of personal services of rural municipalities localized in the Sverdlovsk region. A methodology for analyzing local markets of personal services of rural municipalities has been developed, which includes a number of stages. The condi-tions for the development of local personal services markets in the context of rural municipalities of the Sverd-lovsk region are determined on the basis of SWOT analysis.

Барьеры и факторы развития туристического бизнеса в России и Арктике (по результатам экспертного опроса)

The tourism sector is the most important for the socio-economic development of countries and regions, contributing to the preservation of historical and cultural values, the formation of humanism and tolerance in the world. However, there are many difficulties in the tourism business that have become seriously exacerbated during the COVID-19 pandemic and contribute to a rethinking of the problems and factors of tourism development. In Russia, since 2020, the focus has been on the development of domestic tourism, and this further contributed to the restoration and maintenance of a certain stability in this area, which is especially important during the period of aggravation of the geopolitical situation in Russia and the world, from 2022 to the present. Nevertheless, the issues of barriers to the development of tourism in our country remain relevant, taking into account the ideas, orientations and practices of both tour operators and consumers of tourism services, which actualizes sociological research in this aspect. In order to identify the existing barriers and factors for the successful development of tourism in Russia, the authors conducted a sociological study in 2021 among tourism specialists who acted as experts and represent authorities, tourism business and science in Russian and foreign regions. The study was conducted in a qualitative strategy using the in-depth interview method, during which 31 experts were interviewed. The results of the expert survey may be useful in the further development of the tourism industry in the Russian regions.

ОЦІНКА КОНКУРЕНТНИХ ПЕРЕВАГ ГОТЕЛІВ ТУРИСТИЧНОГО КУРОРТУ МИГОВЕ ЯК БАЗОВИХ ЧИННИКІВ ПОВЕДІНКИ СПОЖИВАЧІВ ПОСЛУГ ГОСТИННОСТІ

In a broad and general sense, hospitality services are components of tourist services, and their quality shapes and influences consumer behavior, the level of service and comprehensive development of tourism and its products. Hotels and tourism also create a positive impact on the economy of many countries or regions. But now, due to the prolonged state of war and the consequences of the COVID-19 pandemic, domestic tourism is still experiencing difficult times. Many hotels and other tourism-related businesses experience the problems that lead to the reduction of their network, and in the most critical case - to closure. These risks create difficulties for people who work in the tourism industry or interact with it as counterparties. Our task is to diagnose the external competitive advantages of the hotel infrastructure and justify their consideration in relation to the potential behavior of consumers of hospitality and tourism services in order to successfully operate the respective destinations, using the example of the mountain resort of Mygove, Chernivtsi region. In the process of carrying out the research, literary, analysis, synthesis, induction, deduction, and analogy methods were used; specifically scientific: factor analysis and statistical methods. The article examines the methodology of diagnosing external competitive advantages of hotel infrastructure and substantiating their application in tourism for the purpose of successful functioning of relevant destinations and the state of hotel infrastructure on the example of the mountain tourist resort of Mygove, Chernivtsi region. The results of the scientific research can be used by local self-government bodies for the development and justification of long-term strategic plans for the organization, management and development of the tourist business and hotel infrastructure of the Mygove mountain resort in the conditions of the influence of various factors on the behavior of tourists as potential consumers. Theoretical, methodological and applied developments, together with the obtained results, can be used in similar studies for other regions in overcoming crisis phenomena of the tourism and hotel business caused by pandemics, martial law in Ukraine and abroad.

KEY PROBLEMS OF HOUSING AND COMMUNAL SERVICES DEVELOPMENT IN MODERN RUSSIA

Housing and communal services is the basic branch of the Russian economy, which ensures the vital activity of every person, organization, territory and the country as a whole. The effectiveness of its development and reform determines the potential for improving the level and quality of life of the population. In the article, the authors define the role of housing and communal services in society, identify the key problems of housing and communal services development from the point of view of consumers of housing and communal services and the main producers of these services, identify "bottlenecks" in the work of state bodies developing and implementing housing policy in the Russian Federation

Алгоритм одоления монопрофильности арктического города: случай Норильска

The research question of the article — identifying ways to overcome the single-industry nature of the city of Norilsk — have been concretized by solving the following tasks: to substantiate the “specificness” of Norilsk among the largest Arctic cities of Russia; to determine the role of the agglomeration effect in strengthening the support of Norilsk for the projects of Taimyr and the entire Eastern Arctic; to deter-mine the potential of Norilsk Nickel’s service structures and urban entrepreneurship for new mining and infrastructure projects in the Eastern Arctic; propose mechanisms for implementing the Norilsk Support Strategy. The methodological base of the study was formed by the concepts of technological modes, development blocking of old-industrial / mono-industrial territories and supportive settlements. Main results: Norilsk is the most specific among the largest Arctic cities of Russia according to the composite index, made up of nine key demographic, economic, socio-cultural indicators. Non-standard approaches are needed to diversify its economy. The agglomeration effect can constructively contribute to Norilsk’s transformation from a single-industry city into a base city for the development of the Eastern Arctic. The most important areas of structural transformation of Norilsk’s economy include strengthening the practice-orientation and geographical expansion of consumers of services of the local scientific and educational complex; establishment of an entrepreneurial layer in new industries and types of production activities; and entry of the city's entrepreneurship together with the plant's service structures into the market of projects and settlements in the Eastern Arctic. The main mechanisms for the implementation of the Norilsk Strategy: “mirror” actions in the eastern Arctic of the city and the Norilsk Nickel combine; transformation of Norilsk into a center for the provision of security services for the territories of the eastern Arctic; a center of formation of the Arctic cruise tourism from Dudinka to Anadyr; a center for accumulating best practices of renovation of the Arctic housing and communal services for their replication in the cities and towns of the Eastern Arctic. Recognition of Norilsk’s success in becoming a base city in the Eastern Arctic will be an increase in its administrative status: transformation into a city of federal significance.

Туризм в субъектах Европейского Севера России после пандемии: оценка состояния и перспективы развития

The European North of Russia has a significant potential for the creation of unique tourism products. The COVID-19 pandemic and the subsequent geopolitical turbulence have had an impact on the functioning of tourism. The relevance of the study is determined by the need to identify current trends of the industry. Its purpose was to assess the state and prospects of tourism development of the subjects forming the European North of Russia in the post-crisis period. The study is based on the results of the work of au-thors studying the problems of the functioning of regional tourism, engaged in the search for promising areas that contribute to the growth of demand for tourist services in this market segment. Diagnostics of tourism trends in the European North of Russia, identification of strategic threats and substantiation of priorities for its development were carried out on the basis of retrospective analysis, comparison, synthesis, analogy, generalization. The features of the consumption of services of the tourism sector in the post-pandemic period are determined, threats are identified and priorities for its further development are formed. The study revealed a trend towards a decrease in the demand for hotel services in the region, which may affect the contribution of tourism to the economy of the territories. The results of the conducted research can be used as a reference point in the justification by public authorities of the ways of regional tourism development, contributing to the growth of demand for tourism products among the population and increasing their competitiveness.

A Profit Maximization Model for Data Consumers with Data Providers’ Incentives in Personal Data Trading Market

This paper proposes a profit maximization model for a data consumer when it buys personal data from data providers (by obtaining consent) through data brokers and provides their new services to data providers (i.e., service consumers). To observe the behavioral models of data providers, the data consumer, and service consumers, this paper proposes the willingness-to-sell model of personal data of data providers (which is affected by data providers’ behavior related to explicit consent), the service quality model obtained by the collected personal data from the data consumer’s perspective, and the willingness-to-pay model of service consumers regarding provided new services from the data consumer. Particularly, this paper jointly considers the behavior of data providers and service users under a limited budget. With parameters inspired by real-world surveys on data providers, this paper shows various numerical results to check the feasibility of the proposed models.

Digital formats of the global healthcare service industry

Nowadays, both diversified channels of medical care for patients in remote mode, as well as extensive telemedical networks and systems of exchange of specialized medical information between all participants in the process of public reproduction of medical services at the national and supranational levels are actively being formed. As a result, we are all witnessing the development in global coordinates of a multi-level integrated system of a digital ecosystem of health care, which is based on digital technologies, forms qualitatively new channels of value creation for consumers of medical services and ensures deep convergent interaction of all key subjects of the medical care system citizens - from doctors, patients, health care institutions and states to health insurance companies, intergovernmental and non-governmental international organizations, business communities, etc. In view of this, there is every reason to claim that the qualitatively new business models of the digital health care system implemented in a fragmented manner in the conditions of digitalization will already in the next decade accumulate a powerful institutional and technological resource for "undermining" traditional business models of medical care with their departure from the narrowed format of the primary link of medical services to deep penetration into all links of the value chain formed in health care, and therefore - the formation of sustainable cash flows for producers of medical services. In the systemic processes of the global digital transformation of economic activity, a special place has been occupied by the service industry in recent years, which, as international experience shows, in the post-industrial paradigm of world economic development largely determines the structural dynamics of the national economies of most countries of the world. The purpose of the article is to reveal conceptual approaches to the systematic implementation in global coordinates of the key priority of digital health — the formation of values for patients in an ethical, safe, reliable, fair and sustainable way, while fully complying with such principles of providing medical services as: its transparency, safety and accessibility to broad segments of the population, scalability of medical care and its regularity, digital compatibility of structural components of the digital ecosystem, and strict confidentiality of medical information.

BANKRUPTCY RISK ASSESSMENT FOR INSURANCE COMPANIES UNDER UNCERTAINTY

The insurance market is an integral part of the country's financial system and is therefore extremely important for economic development. Any shocks in the insurance market may cause a slowdown in economic growth and development and have a negative impact on the country's financial system. The stability of the insurance market is ensured by the companies operating in it. That is why our analysis focuses on assessing the risk of insurance companies' bankruptcy and analyzing the main factors that affect the situation in the insurance market.This article analyzes the main approaches to assessing the risk of insurance companies depending on the size of the risk premium. A simple dynamic risk assessment model was applied.Our analysis of the literature has shown that general approaches to assessing the risk of insurance company failure depend on the overall situation in the country and the market itself. In countries with more frequent force majeure events, more complex and sophisticated models have been introduced to assess the required amount of risk premium to avoid bankruptcy.The market situation in Ukraine had been stable for a long time, but with the onset of the pandemic, certain problems began to arise. An analysis of one of the leading insurance companies in the market showed that before the war started, it had a bankruptcy risk close to zero. Unfortunately, it should be noted that military actions, which are force majeure circumstances, complicate the quantitative analysis, as Ukrainian companies do not have effective mechanisms to cover this type of risk.It is established that a company cannot arbitrarily determine the amount of risk premium based on its own needs. This value will also be influenced by external macroeconomic factors that will affect not only the overall economic situation but also all participants in the insurance market, including consumers of insurance services.