У статті досліджується роль цифрової трансформації у підвищенні конкурентоспроможності страхо вих компаній. Аналізуються загрози, що можуть виникати у зв'язку з процесом цифровізації страхової галузі. Розглядаються потенційні можливості та переваги запровадження інновацій, які не лише дозво ляють краще взаємодіяти зі споживачами страхових послуг, але й сприяють удосконаленню управління ризиками самих страховиків. Доведено, що в сучасних умовах кардинально змінюються підходи до про цесу надання страхових послуг. Це передбачає всеохоплюючу індивідуалізацію страхових послуг та по вну клієнтоорієнтованість страховиків. Окреслено інструментарій потенційного підвищення конкурен тоспроможності страхових компаній, який охоплює широкий перелік заходів цифрової трансформації. Доведено необхідність поглиблення взаємодії між страховиками компаній та інноваційними компанія ми гігантами даних, що забезпечить прискорення цифрової трансформації перших. The article examines the role of digital transformation in improving the competitiveness of insurance companies. Threats that may arise from the digitalization of the insurance industry are analyzed. The potentials and benefits of innovations are considered, which not only allow the better interaction with consumers of insurance services, but also help to improve the risk management of the insurers themselves. It is justified that one of the main assets of modern insurers around the world is the use of digital platforms in their activity, which allows to meet the needs of insurers more quickly and efficiently than before. The growing amount of digital transactions expand the economic power of digital platforms that connect consumers, businesses and even industries. In this way, digital technologies change the business model of the insurance industry, and this affect the way insurance

In the current conditions of the Ukrainian economy, which is characterized by crisis phenomena and frequent changes in legislation, the insurance organizations are facing a number of difficulties in maintaining their financial sustainability. Moreover, these processes take place under the increased requirements for solvency of insurers. However, a significant part of domestic insurance companies is financially unstable, which is conditioned not only by the lack of funds, but also by the low level of management. This situation hinders the further development of the insurance market in Ukraine and has a negative impact on all areas of the domestic financial system and prevents it from successful integration into the European financial field. In order to address this problem, it is necessary to distinguish the key groups of risks that affect the financial sustainability of insurance organizations, among which there are the following: insurance, strategic, market risk, risk of inefficient capital structure, risk of limiting the insurance company’s liquidity, tax risk, investment risk, operational risk, the risk of ineffective organizational structure of the enterprise, and information risk. It should be noted that under conditions of changing environment, the impact of these risks only increases, and therefore the task of minimizing the impact of these risks on the activities of insurance companies is highly important. Accordingly, the authors of the article proposed a four-stage strategy to manage the financial sustainability of the insurance company, the purpose of which is to identify the risks of limiting the insurer’s financial sustainability, their qualitative and quantitative assessment, as well as the development and implementation of appropriate measures to minimize and eliminate unacceptable consequences.

The article defines essence of financial literacy and its role in the Ukraine European integration processes, exposes the European experience and related domestic initiatives in the field of population's financial literacy improvement. It was established that in the process of financial literacy determining, it is important to focus not only on individual financial well-being, but also on positive socio-economic effect for the state. At the same time, the role of financial literacy during the integration processes of the state cannot be underestimated, because financial awareness, financial knowledge, skills, etc. influence people's financial behavior and financial decision-making in new conditions. It was found that the financial literacy issue is very important and critical for Ukraine strategic security. It was proven, based on a comparative analysis of the financial literacy results in Ukraine and foreign countries, that in many European countries financial literacy level needs to be significantly increased, the same as in Ukraine. The experience of implementing initiatives related to the financial literacy problems in the countries that showed the highest indicators according to OECD data (Slovenia, Germany, Austria), as well as Poland and the Czech Republic, was analyzed. It was determined that EU countries pay considerable attention to the initiatives of financial literacy increasing implementation for the population. These issues are dealt with both by the state in the form of ministries of education and regulatory bodies of the financial sphere, and by non-profit organizations, financial and educational institutions. It was argued that with process of Ukraine European integration, the implementation of various financial literacy improvement measures increased, including findings from the successful experience in EU countries. Also, regulators in the financial sphere, adopting the relevant experience from foreign countries, are developing the necessary documents that contribute to level of financial literacy increasing. It was noted, based on the comparison of the Competence Frameworks for the adult population in the EU and Ukraine, that they are quite similar and are based on the original set of basic competencies released by the OECD in 2016, and include digital financial competencies, which have been updated recently. The dynamics of indicators of the level of financial literacy from 2018 to 2021 were positive, and given the fact that the war did not stop the process of creating and implementing new initiatives in this area, there are reasons to expect further growth in the financial awareness of the Ukraine population, which will be an important step on the way integration with the countries of the European Union.

The article suggests methodological approaches to assessing financial stability of the banking system of Ukraine based on the use of comprehensive and taxonomic indicators with FSI taken into consideration. The paper outlined comparative methodology allowed to test the procedure of assessing financial stability to compare the practical effectiveness of the two methods. The proposed valuation methods, owing to their clarity, data availability and, ease of implementation, were convenient and could be used by regulators, individual banks, and consumers of banking services. It was emphasized that the issue of assessing the financial stability of the banking system was especially relevant in the context of new realities that constantly pose new challenges. Additionally, it was noted that the specific banking system has been particularly vulnerable to external factors, the influence and force of which it cannot control. As a result, the importance of the timely selection of an appropriate method for assessing the financial stability of the banking system makes it possible to identify weaknesses and trends in its dynamics to maximize the smoothing of the above factors. According to the comparative study was concluded that the taxonomic indicator method was more practical than the complex index, as it eliminated the risk of subjective contribution in the methodology of index development at the stage of providing weights for indicators. Also, the outlined method is authorized to apply the forecast component in the analysis and predict which direction financial stability will develop. The conducted research allowed to identify trends in the development of financial stability of the banking system of Ukraine. The development of rapid practical methods for assessing financial stability of the banking system was shown to be promising in highlighting main trends in the dynamics of its state to quickly respond to the challenges of new realities.

Small and medium-sized enterprises (SMEs) create more than half of the added value, providing about two-thirds of employment in most countries. However, they need more liquidity, access to credit resources, and significant outstanding loans. This study aims to identify the impact of interest rates on outstanding loans of enterprises on their structure as a way to prevent bankruptcy. The correlation-regression analysis used OECD statistical data for 2008‒2019 sampling individual countries; it showed an ambiguous situation between the interest rate and the share of outstanding loans of SMEs in the overall structure of outstanding loans. The paper verified constructed regression equations and estimated their parameters. The regression equations for Belgium, the Czech Republic, Estonia, and Latvia are statistically reliable. Thus, in Belgium and the Czech Republic, a negative relationship was recorded (r = –0.822; D = 0.675; r = –0.9274; D = 0.794; F-criterion > Ft, respectively), and in Estonia and Latvia – a positive one (r = 0.876; D = 0.767; F-criterion > F•Ft; r = 0.800; D = 0.641; F-criterion > Ft , respectively). Australia, Italy, Slovakia, and France practically do not have a corresponding relationship. The regression equations make it possible to estimate the change in the level of interest rate on the share of outstanding loans of enterprises in the overall structure of outstanding loans, make predictions of the corresponding performance indicator, and develop measures of restoring the solvency of enterprises as an essential task of preventing their bankruptcy.