Uman NUH | today: 12/22/2024
| Author(s) |
Prokopchuk O.T., Candidate of Economics, , Uman National University of Horticulture, Ukraine Харенко А. О., , , Гумен О. В., , , Мирошниченко М. М., , , Клименко В. О., , , Жарун Р. Ф., , , |
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| Category | Economics | ||
| year | 2024 | issue | Issue 105 part 2 |
| pages | 106-115 | index UDK | 368 | DOI | 10.32782/2415-8240-2024-105-2-106-115 (Link) |
| Abstract | In the context of rapid digital transformation and growing consumer demands, the insurance industry in Ukraine is facing the need to implement innovative and digital solutions. Modern trends, including blockchain, artificial intelligence, big data, and automation, are opening up new opportunities to improve service quality, reduce costs, and increase competitiveness in the insurance market. Changes in consumer behavior toward digital communication channels, as well as the evolution of the regulatory framework, are driving insurance companies to adopt technologies that can significantly speed up data processing, increase the accuracy of risk assessment, and improve customer experience. Technologies such as chatbots, mobile applications, online policy issuance and management platforms, as well as telematics applications and automated claims solutions are already gaining popularity among insurance companies seeking to strengthen their market presence. Analyzing the number of insurance companies in Ukraine is an important aspect of understanding the industry's development trends, the level of competition, and the market's ability to provide an adequate level of insurance services. The number of insurers directly affects the supply of insurance products, the competitive environment, as well as the availability and quality of services for consumers. In recent years, there has been a significant reduction in the number of insurance companies in the Ukrainian market due to a number of factors, including financial instability, increased capital requirements and increased regulatory control. In 2023, the total number of insurance organizations operating in the Ukrainian insurance market amounted to 110, including 12 life insurance companies and 98 non-life insurance companies, respectively. The significant reduction in the number of insurance market entities is primarily due to the withdrawal from the market of those participants that were not active and voluntarily relinquished their licenses. A study of innovative aspects in the Ukrainian insurance market has shown that the introduction of modern technologies and digital solutions has a significant impact on the development of the industry. Insurance companies that actively integrate the latest technologies into their business processes achieve greater efficiency, improve the quality of customer service, and ensure competitiveness in the market. Digital innovations and technological solutions are an important element in the development of the Ukrainian insurance market. They help to increase the efficiency of insurance companies, improve the quality of service and expand access to insurance services. The use of the latest technologies, such as artificial intelligence, blockchain, automation, and telematics, opens up new opportunities for personalizing insurance products and improving risk management. However, successful digital transformation requires significant investment, an adequate level of digital literacy among the population, and government support in developing a legal framework for data protection and regulation of digital services. | ||
| Key words | insurance market, insurance, insurance services, digitalization, digital transformation, innovation | ||