INSURANCE MANAGEMENT TOOLS AND AREAS OF IMPROVEMENT

Анотація

Introduction. The insurance market of Ukraine in recent years has been operating in the face of many challenges that require insurance companies to effectively use insurance management tools and their continuous improvement. The insurance market of Ukraine is directly affected by the macroeconomic situation and the slowdown in economic activity in 2020-2021, which led to a reduction in the assets of insurers, reducing their number and frequent violations by insurers of capital adequacy and solvency. Further development of the insurance market of Ukraine is possible only if the development of insurance management and improvement of its tools. Purpose. The purpose of the article is to assess the effectiveness of insurance management tools and justify areas for improvement. Method (methodology). In the process of research such methods were used as logical, which allowed to analyze scientific works and generalize a set of tools of insurance management; analytical, which was used to analyze the use of insurance management tools such as reinsurance, insurance reserves, standards for investing insurance reserves according to the National Bank of Ukraine in 2020-2021; tabular and graphical, which allowed to interpret the results of the analysis in a visual form. Results. Insurance companies to ensure a sufficient level of profitability of insurance operations, increase the market value of the insurance company, as well as timely and full fulfillment of obligations to policyholders and other economic agents form in accordance with current legislation strategy and tactics of insurance management based on specific tools: reinsurance , creation of reserve funds, diversification, rationing. The use of insurance management tools should be improved in the direction of harmonization of domestic legislation in accordance with the requirements of the European Union and international regulatory practices, as well as to adapt to domestic economic and social realities the best practices of insurance management.

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