Modern Trends in the Development of the Insurance Services Market

Abstract

The article considers the state of the insurance services market of Ukraine at the present stage in the conditions of the worldwide pandemic of COVID-19 and the introduction of the quarantine regime. The dynamics of changes in the number of operating insurance companies (non-life, life) in Ukraine over the past five years has been analyzed. The main indicators of the activity of insurance companies of Ukraine as a whole were investigated and the TOP-10 of insurance companies on gross premiums and payments were presented. The main problems impeding the development of the insurance services market are highlighted. The authors described and showed the main trends in the development of the insurance services market in quarantine conditions. It is determined that the decrease in the number of insurance companies is the result of the regulator's efforts to strengthen the market by eliminating players who do not meet the requirements of solvency and reliability. Keywords: insurance market, insurance service, strategy, innovation, premium.