Embedded insurance as a tool for increasing financial market inclusion

Анотація

Introduction. The article examines embedded insurance as a tool to enhance financial and insurance inclusion in Ukraine amid the full-scale war and the accelerated digital transformation of financial markets. The transformation of insurance distribution channels is substantiated as a prerequisite for overcoming regional disparities and building a resilient financial ecosystem. Problem Statement. Military actions, closure of financial institutions’ branches, growing regional disparities and the emergence of “insurance deserts” have significantly limited access to insurance services for households and small and middle enterprises. Traditional distribution models have proved insufficiently adaptive in crisis conditions, necessitating the search for innovative mechanisms to expand insurance coverage. The purpose is to substantiate the role of embedded insurance as a tool for increasing insurance inclusion and to propose a conceptual analytical model for assessing its impact on regional insurance penetration. Methods. The study applies institutional and socio-technical approaches, structural and logical generalization, comparative analysis of international experience, analysis of statistical data from the National Bank of Ukraine and international organizations, and develops a simplified regression model to assess the correlation between the development of embedded insurance and insurance inclusion indicators. Results. It is established that embedded insurance reduces transactional and behavioral barriers to insurance access, particularly in regions with developed digital infrastructure. Research hypotheses are formulated regarding the influence of digitalization and institutional support on the effectiveness of embedded models. A conceptual regression framework is proposed for future empirical testing in the post-war recovery period. Conclusions. Embedded insurance is considered a structural tool for the long-term development of Ukraine’s financial and insurance markets, combining digitalization, inclusion and institutional modernization. Its effectiveness depends on the level of digital infrastructure development and regulatory quality, which determines its scalability in the post-war period.

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