Uman National University | today: 06/19/2025
| Author(s) |
Бондаренко Н. В., , , Ulyanych Y.V., Candidate of Economics, , Uman National University of Horticulture, Ukraine Тулуш Л. Д., , , |
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|---|---|---|---|
| Category | Economics | ||
| year | 2025 | issue | Випуск 106 Частина 2 |
| pages | 241-254 | index UDK | 336.22:658 | DOI | 10.32782/2415-8240-2025-106-2-241-254 (Link) |
| Abstract | The article explores the transformation of insurance management under the influence of the rapidly evolving InsurTech sector. The research focuses on how digital technologies are reshaping the traditional foundations of insurance business operations and management strategies. A comprehensive analysis of global and Ukrainian trends demonstrates that InsurTech not only introduces new tools and practices into the insurance industry but also initiates a rethinking of the role and structure of management in insurance companies. The study defines modern insurance management as a system of strategic and operational decisions aimed at ensuring financial stability, competitiveness, and customer satisfaction through the integration of innovative digital technologies. Unlike the traditional model — which relied heavily on hierarchical structures, agent networks, and paper-based workflows — contemporary insurance management increasingly depends on automation, customer data analytics, online distribution, artificial intelligence, and CRM systems. These shifts have led to faster claims processing, more personalized products, and a better user experience. The article identifies key challenges faced by traditional insurance companies, including technological lag (legacy IT systems), internal resistance to change, the war for tech-savvy talent, regulatory uncertainty, and the growing competition from InsurTech startups and digital platforms. Special attention is paid to the structure of insurance product distribution channels, which is undergoing digital transformation globally and is gradually evolving in Ukraine. The paper highlights successful Ukrainian examples (e.g., UKASKO, Hotline.finance), showing how local companies adapt to external shocks like the COVID-19 pandemic and the war, while developing their own InsurTech ecosystems. Based on global investment trends and market dynamics, the article concludes that the future of the insurance industry lies in hybrid models that combine traditional expertise with technological innovation. Strategic partnerships, flexible management, and openness to collaboration with InsurTech startups are becoming critical for maintaining competitiveness. InsurTech is no longer a trend but a structural driver of change in insurance, and its integration into management practices is essential for sustainable development | ||
| Key words | insurance management, InsurTech, digital transformation, insurance, innovation, distribution, digital economy, global trends, management challenges | ||