The aim of the work is to substantiate the impact of new technologies on the development of insurance, the need to change its business model, approaches to setting rates and attracting customers. The work is devoted to the comparison of pros and cons, the search and analysis of promising opportunities. Examples and opportunities for the use of artificial intelligence (AI) and machine learning (ML) in the insurance business are shown, and attention is paid to the disadvantages and risks of their use. Applications of AI in insurance: customer interaction, financial consulting and personalization, contract servicing and omnichannel, smart contracts, affective computing, loss adjustment, anti-fraud, medical insurance, vehicle and real estate insurance. Figuring out the advantages of AI: high decisionmaking speed, no human error, no emotion, 24/7 availability, reduced risk of human injury, reduced cyber threats. Disadvantages: high time and money costs, lack of creativity, lack of understanding of emotions, job cuts, lack of human ethics, scalability of hacker attacks. AI-based systems can subsequently take over many of the decisions that humans made.

In Ukraine, insurance is a promising segment of financial relations, therefore the dynamics and prospects of its development are a relevant topic for research. The purpose of the study is theoretical generalization and development of practical recommendations for improving the management efficiency of life insurance companies in Ukraine. The following research methods were used: vertical and horizontal analysis of indicators of the activity of insurance companies, analysis and synthesis when considering modern approaches to the essence of the concept of insurance services, simulation modeling when developing a model of effective management of life insurance companies. Results and practical implications. The recommended model for improving the management of life insurance companies takes into account challenges, opportunities for development, as well as necessary measures from the regulator, the government and the companies themselves. Challenges: low interest rates, decrease in the profitability of the investment portfolio; competition with other savings instruments; mistrust of the population; lack of financial literacy; low purchasing power of the population; new accounting rules; investors' requirements for transparency. Opportunities: actualization of protection against mortality due to pandemic; accumulative pension insurance; investment life insurance, which ties profitability to the dynamics of the stock market; creation of a system for the protection of dependent persons; cross-selling through the identification of the most likely next insurance product; early coverage of customers who are going to retire; non-monetary benefits for customers. Measures by the government and the regulator: incentives to save and reduce consumption to reduce inflationary pressure; supervision of life insurance marketing, establishment of professional education standards for agents and brokers; expansion of the list of life insurance classes; loosening regulation of investment directions of reserves of insurance companies; provision of tax benefits for pension plans; encouraging personal financial planning through insurance promotion. Measures by the insurers themselves: hiring digitalization specialists; outsourcing of business areas and accounting; thorough market analysis; personalization of customer experience; Certification training; review of investment directions of life insurance reserves. All these components are combined into a single model for improving the management efficiency of life insurance companies.

In current paper, we have researched the influence of environmental policy stringency (EPS) on economic development of the EU-28. The problem of identifying the influence of stringency of environmental policy (EP) on economic development of the EU-28 is that currently there is no well-established understanding of what economic results can be achieved depending on the extent of EPS within a separate country. The paper aims at making contribution to theoretical, empirical and political scopes of perception of EP as an independent factor of economic development of the EU-28. The results of research indicate that EPS is significant factor of economic development of the EU countries.