Product and Process Innovations in Property Insurance for Individuals

Bednarczyk, Teresa H.; Jańska, Anna

doi:10.17951/h.2015.49.4.45

Cited by 2 publications

(1 citation statement)

References 2 publications

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“…World experience shows that one of the most important indicators of the economic situation of any market-oriented country is the development of the insurance industry. The authors of the work [1] determined that increased competition and changing consumer expectations for insurance services are becoming the main factors determining the development and dissemination of innovations in the insurance industry. But from the point of view of the authors, it is advisable to pay attention to the study of the components of the strategy of innovative development of companies in the insurance services market.…”

Section: Literature Review and Problem Statementmentioning

confidence: 99%

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

Litvinova

Davydova

Kozub

et al. 2022

EEJET

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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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Section: Literature Review and Problem Statementmentioning

confidence: 99%