CURRENT TRENDS IN THE DEVELOPMENT OF UKRAINE'S INSURANCE MARKET IN DIGITADIZATION CONDITIONS
Abstract
Purpose. The purpose of the article is to investigate promising areas for improving the efficiency of insurance products and services through the use of digital technologies while also ensuring financial inclusion. Methodology of research. The study employed methods of tabular and graphical results presentation, logical generalization, comparative analysis, and systematic approach (which takes into account the dynamic functional relationship between the state of the whole and the balance of its constituent elements), dynamic analysis, logical, and theoretical generalization. Results. The authors propose their own interpretation of the concept of "digitalization". An assessment of trends in the development of Ukraine's insurance market has been carried out in order to determine insurance companies' readiness to implement technological innovations that increase the efficiency of the insurance industry. The extent to which InsurTech has penetrated the Ukrainian insurance market has been determined. Recommendations have been provided for the incorporation of digital technologies (Smart City, VAS – Studio of Visual Analysis) into the operations of insurance companies in Ukraine. The practical significance of the research results. The adoption of digital technologies in Ukraine's insurance market will boost insurance companies' efficiency and improve the quality of their insurance services.
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