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The article focuses on developing the concept of state regulation for the Ukrainian insurance system in the context of its integration into the European Economic Area. As Ukraine progresses toward European integration, enhancing the insurance system has become an integral part of modernizing the country’s financial and economic landscape and strengthening its international standing. The article analyzes the current challenges facing the Ukrainian insurance system, including an insufficient legal framework, a weak institutional structure, and a low level of public confidence in insurance services. Particular attention is given to researching European experiences in state regulation of insurance markets, which may provide valuable insights for Ukraine. The authors argue for the implementation of European standards in insurance activities and identify priority areas for reforming the insurance sector. The article also explores the instruments of state regulation that can ensure the stability and sustainability of insurance companies, enhance market competitiveness, and adapt national legislation to meet European Union requirements. A key aspect of the proposed concept is the establishment of an effective supervisory system for insurance companies that aligns with European standards and requirements. The authors emphasize the importance of harmonizing Ukrainian insurance legislation with EU directives regulating the activities of insurance companies within the EU. Adopting European regulatory standards will help increase the transparency and efficiency of the Ukrainian insurance system while attracting foreign investment. In summary, the article presents conceptual approaches to creating an effective state regulation system for the insurance industry, aimed at facilitating its integration into the European Economic Area and promoting the stable development of the national insurance market. [ABSTRACT FROM AUTHOR]

Aim. The purpose of the study is to substantiate the concept and structure of the common financial market of the Eurasian Economic Union, highlight the problems of its formation and ways to solve them. Tasks. The objectives of the study are: review and analysis of the definitions of the common financial market in the legal framework of the Eurasian Economic Union; highlighting key aspects of the development of the common financial market; defining its structure, problems of formation, proposing ways to solve them.Methods. Methods were used: institutional analysis, comparative analysis, system analysis to substantiate aspects of the formation and structure of the common financial market of the Eurasian Economic Union. The method of formal logical analysis was also used to clarify the concepts of the common financial market in various acts of the integration level.Results. Firstly, at the level of the Eurasian Economic Union, the concept and criteria of a common financial market have been established.Secondly, a broad and narrow understanding of the structure of the common financial market in the context of Eurasian integration is highlighted.Thirdly, the key aspects of the development of the common financial market are: expanding the range and accessibility of financial services; ensuring the rights of consumers of financial services and investors; security and transparency of financial services.Fourthly, the problems of forming a common financial market are highlighted, including the different levels of development of the markets of the integration member states, the weak sector of the securities and investment markets.Conclusions. The common financial market is part of Eurasian integration, the processes of formation of such a market are components of integration processes. The structure of the general financial market in the narrow sense includes the banking and insurance services sector, the securities market sector, and the relations between these sectors. A broad understanding of the structure of the general financial market additionally includes the tax, budget and currency areas.

Both large and small information flows can have a significant impact on how consumers obtain trustworthy financial information, ultimately leading to an improvement in their daily lives when they interact dynamically with local geographic conditions. In economies that face both geographical and socioeconomic challenges, such as those in Africa, this kind of context is crucial. Large information flows provide significant issues such as big data challenges in the insurance sector, which calls for robust, demand‐driven, and adaptive innovation solutions. In this paper, we present a geographic information system (GIS)–based location‐aware recommender algorithm, called Geo-Insurance. Using some selected insurance companies in Accra, Ghana, as a point of view for location and customer data, our proposed Geo-Insurance solution addresses the big data challenges of customers finding the closest insurance companies with specific services through a web‐based map created using a geodatabase file, ArcCatalog, and ArcGIS (among others). We conducted a series of benchmarking experiments. Our evaluation results show that Geo-Insurance performs better than other contemporary methods in terms of F‐measure (F1), recall (R), precision (P), mean absolute error (MAE), and normalized MAE (NMAE). [ABSTRACT FROM AUTHOR]

The article examines the historical and legal aspects of the development of insurance and the legal regulation of insurance relations in Italy. It is noted that the foundations of insurance relations and their legal regulation were observed in many countries of modern Europe, including Italy. It has been investigated that the first forms of insurance in Italy were observed as early as the times of the Roman Empire in the form of activities of religious societies and military colleges. It has been proven that the initial forms of insurance in the Roman Empire were built on the basis of the common interests of the participants, were non-commercial in nature and were not aimed at making a profit. It was established that from the 13th century. in Italy, there are mutual aid associations, which were created within the framework of craft guilds, which aimed to help their members in the event of certain insurance cases. It has been studied that starting from the 13th century. Italy becomes the center of marine insurance formation, centered in Genoa, Florence and Venice. The article states that the legal regulation of marine insurance was carried out in accordance with the norms specified in the Pisa Statute and other legislative acts, as well as insurance contracts that had a notarized certificate. It is noted that at the end of the 13th century. special courts were established to resolve disputes in the field of marine insurance. It has been studied that starting from the 14th century. in Italy, the formation of commercial insurance was observed, which was regulated by the Venetian Code of Marine Insurance and the Florentine Ordinance of 1523. It was analyzed that in the 15th-16th centuries. Art. in Italy, such types of insurance as dowry insurance, as well as annuities, tontines and loans, bets have become widespread. It was found that starting from the 18th century. in Italy, insurance companies are created in the form of joint-stock companies, marine insurance is provided by the Maritime Exchange Insurance Chamber, and fire insurance is developed. It is noted that since the XX century. in Italy is developing life insurance. It has been established that today Italy is one of the leading states that carries out insurance activities on the market of insurance services. [ABSTRACT FROM AUTHOR]

Theoretical background: By deciding to purchase insurance the entity which does so expresses its demand for money should it suffer adverse consequences of a fortuitous event – that is to say, an event which the entity concerned has identified and whose occurrence it estimated as probable. There are very limited possibilities to learn about the specifics of insurance public hospitals buy. There are also no sources of data that could shed closer light on this, whether coming from the market or gleaned through surveys. As public finance entities, public hospitals are required to follow applicable public procurement laws in purchasing insurance, although that obligation may be waived under certain circumstances. Whatever the procedure hospitals choose to use in their purchases, certain purchase documentation will be generated over its course, which can be a valuable source of detailed information about the coverage bought. Purpose of the article: The main objective of this study is to determine the ways in which public hospitals can buy insurance, what kind of documents are generated in the process, and what scope of information they contain. Research methods: In order to reach the stated objective, a body of literature and legal regulations was analysed, and an empirical study was conducted. The underlying premise in the study was that purchasing procedures followed by public hospitals provide insight into their purchasing decisions, and thereby into the reported demand for insurance. Main findings: The study opened up a way for an assessment of the possibilities and limitations involved in gaining insight into insurance purchasing decisions based on the purchase documentation.

It is noted that the peculiarities of the functioning of the health care system in the conditions of the crisis require the involvement of new participants in it. One of these participants is a commercial insurer, which allows to reduce the amount of treatment costs when the consumer of health care services pays annual insurance premiums. Under this approach, insurance services and health care services are complementary to each other and cannot be considered separately. It was examined that it is at the state level of management that an effective system of informing about the capabilities of the health care system to meet the needs of a specific consumer of health care services should be developed and established. This system should help the consumer of health care services to make the right decision regarding the payment of the policyholder’s services and provide him with protection in the case of providing a service of inadequate quality or not receiving it. Currently, the national health care system functions according to the principle of social insurance, which ensures the participation of both the state and commercial insurers in the regulation of the health care system. Theoretically, this situation gives consumers of healthcare services a choice of insurance company. However, in practice, this choice is limited to the list of both insurance companies and the services provided by them. Full satisfaction of the insured’s requirements becomes possible with voluntary health insurance. In Ukraine, this type of insurance was available only to large corporations in the form of corporate insurance for their employees.

The transition to the use of digital technologies contributes to the modernization of the business environment and reorganization of all spheres of the economy. Innovative transformations encourage all economic entities to introduce various digital technologies into business processes. The insurance industry cannot develop separately from other segments of the financial market, so to meet modern requirements, it is necessary to carry out a digital transformation of the insurance business. At the present stage, in many countries, the demand for insurance continues to grow precisely due to the digitalization of the insurance sector, since the population is more interested in obtaining digital insurance products. This leads to the increase in the insurance penetration into the country's economy and increases its sustainability. However, there are many challenges and obstacles that hinder the development of the insurance digitalization. The main purpose of the study is to reveal the problems of introducing digital technologies in the insurance market in modern conditions and to reveal the main factors that affect the implementation of digital transformation of the insurance business. In the article, the features of the InsurTech implementation in accordance with the components of the insurance process are described, and it is described how the existing technologies are used to improve the efficiency of insurance companies. The components of the transformational model of InsurTech capabilities are highlighted, which are integrated in the formation of a network of customers and partners. The most investment-attractive digital technologies in the insurance sector are indicated, namely: р2р insurance, insurance telematics, insurance on request, aggregator of insurance services. Within the article, the factors that influence the growth of interest in digital technologies in insurance and accelerate their development, as well as affect the increase in the competitiveness of business entities in the insurance market are revealed. The existing problems and obstacles for the InsurTech development in Ukraine in modern conditions are identified. The main trends in the InsurTech development are revealed, which contribute to improving the quality of the customer service, optimizing business processes of insurance companies and ensuring competitiveness in the market. [ABSTRACT FROM AUTHOR]

The aim of the research was to identify the characteristics of agricultural households at risk of financial self-exclusion using the Chi-squared Automatic Interaction Detector (CHAID) analysis. The source of data was the results of a survey conducted among 348 agricultural households of Central Pomerania (Poland). The obtained results prove that nearly 40% of the analyzed households did not use financial services and products of their own choice. Using the CHAID analysis, it was found that the strongest predictor differentiating the studied population in terms of financial self-exclusion was the level of average monthly household income (INC). Significant predictors were also those relating to the size and composition of the household (SHW and SHCH), the propensity to save (SAV) and features related to the production potential of a farm (AREA) and the effectiveness of using this potential, i.e. the value of produced output (PROD). The Statistica 13.3 software was used to build the algorithm and create a graphic form of the decision tree. [ABSTRACT FROM AUTHOR]

This paper surveys and critically evaluates the literature on methods used in assessing the quality of financial services in the field of insurance coverage. The paper presents the methodological assumptions of SERVQUAL and fuzzy SERVQUAL methods. The usefulness of these methods for assessing the quality of services provided by entities from the insurance sector (taking into account the expectations of customers and service providers) was also demonstrated, on the example of insurers from Greece, Malaysia, Iran, Poland and India, using specialized software SPSS (versions 11.5 and 21), SmartPLS and LISREL 8.7 statistical package. [ABSTRACT FROM AUTHOR]

This study investigates the impact of the 'Pradhan Mantri Jan Dhan Yojana (PMJDY)' on the 'financial inclusion' of women SHGs in Pune district's 'Public Sector Banks (PSU banks)', specifically examining savings and investment opportunities, credit access, and insurance services. The objectives of the study are to assess differences in these aspects between PMJDY account holders and ordinary account holders among women SHGs and to provide recommendations for enhancing 'financial inclusion' initiatives. The research methodology employs a quantitative approach, with primary data collected through a structured questionnaire administered to 20 PMJDY account holders and 20 ordinary account holders among women SHGs in PSU banks. Descriptive analysis, including 'mean' and standard deviation calculations, is conducted to examine the distribution of responses. 'Independent Sample T-tests' are employed to compare the differences between the two groups. The results indicate significant disparities in savings and investment opportunities, credit access, and insurance services between PMJDY account holders and ordinary account holders among women SHGs. PMJDY account holders exhibit higher levels of savings and investment opportunities and better access to insurance services compared to ordinary account holders. However, they experience relatively poorer access to credit, highlighting an area for improvement in 'financial inclusion' efforts. Based on these findings, recommendations are proposed to enhance 'financial inclusion' initiatives for women SHGs in Pune district's PSU banks. These include targeted awareness campaigns to promote PMJDY account ownership, streamlining credit application processes, and expanding the range of insurance products available to women SHGs. Additionally, financial literacy and training programs tailored to the specific needs of women SHGs can empower them to make informed financial decisions and improve their economic resilience. [ABSTRACT FROM AUTHOR]

This article deals with issues related to the definition of signs of insurance services. In modern conditions, significant transformations are taking place in almost all sectors of our country, including insurance. The object of the insurance market is the insurance service, which has a number of features. The study of various aspects of the concept of «insurance» is of theoretical and practical importance. In theoretical terms, it makes it possible to improve the internal structure of the insurance institution. Its practical significance lies in the direct impact on the rule-making process in the field of legal regulation of the insurance business and its organization. To achieve these goals, first of all, it is necessary to determine the characteristics of this type of service, since it is impossible to consider insurance services in isolation from the selection of their characteristics. In modern scientific literature, the concept of insurance is usually considered in several aspects: economic - as a system of economic relations regarding the formation of centralized and decentralized funds of funds necessary to cover the unforeseen needs of society; material - as a type of created monetary or material funds that are used to compensate for damage resulting from natural disasters and other unforeseen circumstances; legal - as a set of social relations arising from the creation and use of the insurance fund and mediated by the rule of law For law enforcement practice, the consideration of insurance as a legal category is of the greatest importance. To do this, we will attempt to establish the signs of insurance services. [ABSTRACT FROM AUTHOR]

Theoretical background: By deciding to purchase insurance the entity which does so expresses its demand for money should it suffer adverse consequences of a fortuitous event – that is to say, an event which the entity concerned has identified and whose occurrence it estimated as probable. There are very limited possibilities to learn about the specifics of insurance public hospitals buy. There are also no sources of data that could shed closer light on this, whether coming from the market or gleaned through surveys. As public finance entities, public hospitals are required to follow applicable public procurement laws in purchasing insurance, although that obligation may be waived under certain circumstances. Whatever the procedure hospitals choose to use in their purchases, certain purchase documentation will be generated over its course, which can be a valuable source of detailed information about the coverage bought. Purpose of the article: The main objective of this study is to determine the ways in which public hospitals can buy insurance, what kind of documents are generated in the process, and what scope of information they contain. Research methods: In order to reach the stated objective, a body of literature and legal regulations was analysed, and an empirical study was conducted. The underlying premise in the study was that purchasing procedures followed by public hospitals provide insight into their purchasing decisions, and thereby into the reported demand for insurance. Main findings: The study opened up a way for an assessment of the possibilities and limitations involved in gaining insight into insurance purchasing decisions based on the purchase documentation. [ABSTRACT FROM AUTHOR]

The increasing globalization and information communication associated with commerce are confronted with the risk experienced over the years in the various production sectors of the economies. The research studied the influence of ICTs capital goods exports, industrial value addition, transportation energy, and globalization on insurance & financial services in a panel of 29 selected European and Central Asian nations. The research spanned from 2012 to 2021 and used a Panel quantile regression model. It was shown that insurance and financial services increased dramatically between the 0.40th and 0.90th quantiles due to technological progress. In addition, for quantiles between 0.10th and 0.90th, industrial value added is positively correlated with increased insurance and financial services. Quantile 0.10t show a negative and significant association between transportation energy and insurance risks. In contrast, quantiles between 0.40th and 0.90th show a positive and significant relationship, indicating a U-shaped relationship between these two variables. The causality findings validated the technology-led industrialization and transportation energy, while a bidirectional association was identified between globalization and transportation energy across nations. The variance decomposition results suggested that industrial value added, globalization, and technological advancement would exert greater variance shocks on the insurance and financial services sector over time. The study concludes that the progression of technology contributes to the maintenance of insurance performance in the age of globalization. This performance might be enhanced by developing more effective transportation energy services and industrial production.

Background and Aim: Expenditure in the health sector requires appropriate resources management. This study was conducted to determine the amount of moral hazards associated with the service providers in the medication prescriptions paid by an insurance organization. Methods: Study population included paid pharmaceutical documents in Tehran province in 2019. 2000 prescriptions for 500 insured people were randomly selected from the database of the organization. Two indicators (the number of suspicious prescriptions based on the incompatibility of a drug with the history of the disease or the drug spectrum of an insured and the number of prescriptions with a financial burden higher than the average usual burden of a normal patient) were matched with transcript data and analyzed with SPSS version 24. An experienced pharmacist was consulted to examine the drug spectrum of all prescriptions. Results: 5.4% of total prescriptions were incompatible drugs and 6.4% had created extra financial burden. The highest incidence of risks by speciality was related to general practitioners (16 % with a surplus financial burden of 87/500/000 Rials). The highest number and amount of risks in Rials per insured group was related to supervisors (63 % with a surplus financial burden of 26/000/000 Rials). The risk in the military centres’ prescriptions were more than private and governmental centres and it was relatively equal in contracted (48%) and non-contracted (52%) centres. Conclusion: The abuse in the health service provision is a high risk for health care managers in countries that have health insurance programs which their intelligent tracking reduces many of the insurers’ costs and prevent the shortage of vital medicines.

This paper examines the effects of intra-bloc trade on the earnings and operating expenses of insurance companies. The share of exports (imports) to other countries that are members of the trade agreement in the country's exports (imports) of direct insurance services are used as relative measures of intra-bloc trade. We use data on insurance companies located in North America (Canada and the United States of America) from 2005 to 2018. The production function is assumed to be transcendental logarithmic. Results show that a higher share of other member countries in the exports of direct insurance services has a small impact on profits, yet it is only weakly statistically significant. It does, however, lead to lower operating expenses for non-life firms. A relatively higher import share is associated with increasing operating expenses of life insurance companies with an elasticity of 0.08% without significantly reducing profits. [ABSTRACT FROM AUTHOR]

Cryptocurrency‐based transactions are exposed to serious security risks, usually higher than risks related to traditional online transactions. The threats range from unintentional credential leaks, through fraudulent cryptocurrency exchanges and poorly implemented protocols, to broken private keys. Therefore, there is a business need for insurance services dedicated to cryptocurrencies that would be technologically as well as economically secure for both insuring and insured party. In this paper an architecture for cryptocurrency insurance framework along with a set of corresponding communication protocols and a smart contract template that jointly reduce various security risks are proposed. The detailed description of the solution is followed by the security analysis section. Also, the description of the presented solution is preceded by a general risk analysis related to cryptocurrency unit security and countermeasures analysis related to those risks. The authors believe that the presented technological solution can potentially enable new business models based on crypto‐insurance services. [ABSTRACT FROM AUTHOR]

In today's market conditions of living and working, the insurance market is constantly increasing in volume. As a result, competition is very high and the relationship between insurers is constantly changing. The strict approach to increasing insurance profits has shown insurers that they need to abandon the solid base offered to customers. The need for insurance service is constantly growing, so it is imperative that it is constantly improved and adapted to the conditions and needs of customers. For this reason, insurance institutions need to monitor and know what is happening in the insurance market in order to be able to respond in a timely manner to changes in the development of the insurance business. Increasing insurance profits is unthinkable without implementing a marketing strategy. The purpose of this article is to justify the need to develop marketing strategies in agricultural insurance activities in Kosovo. The research is carried out with a qualitative and quantitative method, or with the help of empirical parameters and indicators that the expert literature knows. The main conclusion that the authors make is that insurance is a complex category, as well as a profession. The reason is that it refers not only to the observance of methodological principles, but also to the ideas, enthusiasm and creativity of marketing in providing certain tasks in the field of insurance, especially in the field of agriculture. [ABSTRACT FROM AUTHOR]

Service providers are developing more sophisticated offerings, and it is important for them to understand the demographics and specific context by which individuals might procure their services. This allows companies to stay relevant to their customers. The target of this paper is to investigate the types of goals Millennials and Generation Z individuals are pursuing and what role different service providers may play in supporting these endeavors, with the aim of providing actionable insights for insurers. Furthermore, it is to investigate how personality traits may relate to differences in individuals' preferences. The study is based on a survey of 854 Swiss university students. The results indicate that goals are concentrated in a few categories, and educational institutions and healthcare providers are well-positioned to support goal achievement. Insurers, on the other hand, rank low among the preferences, and their profile is largely undifferentiated. This result indicates that insurers need to further focus their efforts to gain relevance among younger customers. Supporting goals relating to self-fulfillment and ability for high-conscientious and/or low-honest/humble customers by focusing on risk education and risk management seems a particularly interesting strategy for insurers. [ABSTRACT FROM AUTHOR]

Insurance companies are currently carrying out tasks related to building trust, image creation and giving distinctive features to intangible insurance services, which is associated with paying more attention to the packaging of the service than to the service itself. The packaging of the insurance service consists of people, the appearance of branches, the availability of insurance services and flexibility in customer service. For insurance companies, the knowledge of not only marketing practice, but also the knowledge about customer behaviours or factors affecting their loyalty is becoming important. The purpose of the article is to review the loyalty on the insurance services market in Poland and to examine the factors influencing it. The article discusses the methods of testing customer loyalty on the insurance services market. On the other hand, based on the results of the survey, factors affecting customer that may affect customer loyalty satisfaction are presented.

The main aim of the research is substantiating the reasons for the low level of insurance services consumption and carrying out a regression analysis to determine the impact of independent factors on the penetration of insurance into the country’s economy. The research presents solutions to the following tasks: the key indicators of development of the insurance market in Ukraine in 2012-2019 are analyzed, financial results of the activities of domestic insurers are defined, the impact of the insurance market indicators on the penetration of insurance into the economy is researched using the correlation-regressive analysis. The author has made an attempt to identify the reasons for the low activity of insurers in the market for insurance contracts compared to developed countries. The publication applies the correlation-regressive analysis to confirm assumptions about the influence of factors that do not have a direct effect on the resulting indicator. As the the resulting indicator has been chosen the penetration of insurance into the economy by the «non-life» (Y1) and the «life» insurance (Y2). The results of the research identified the reasons for restraint of relations between insurers and insured customers, including: low incomes of citizens, high, and sometimes unreasonable, insurance rates, lack of insurance culture in society, unfair attitude to insurers regarding the payment of compensation under contracts with the State Insurance of the USSR on the part of the State, financial and economic crises in society. The carried out analysis allowed to build models of multiple regression according to the indicators of insurance penetration into the country’s economy by the «non-life» and the «life» insurance. An acceptable link between the resulting indicators and independent factors has been identified: the number of insurers in the market and the US dollar exchange rate against the national currency. The results of the research allow to increase the activity of insurers in the market by means of: eliminating regulatory obstacles on the part of the State, determining the financial relationship between insurers and intermediaries as transparent and open, evaluating the impact of factors on the ability to increase the proportion of insurance in GDP, substantiating the role of the NBU as a future regulator in the insurance market.

This research paper aims to clarify the types of risks that Islamic financial institutions may face, as well as highlighting the role played by the insurance institutions of solidarity in covering the risks of Islamic financial institutions. This is in order to enhance its activities and business based on the insurance services provided to Islamic banks, Islamic investment funds and the Islamic stock market. This study concluded that Islamic financial institutions are exposed to a number of risks when exercising their functions and employing their funds. Which makes it resort to the insurance institutions of solidarity in order to cover these risks and reduce them. The existence of insurance institutions of solidarity today is very important due to the insurance services they provide to cover most of the risks and decrease their effects in the event of their occurrence. [ABSTRACT FROM AUTHOR]

The article deals with the issues related to the use of modern information technologies in the insurance market of the country. In particular, the directions of their application are identified, and the characteristics of modern practice of introduction of such technologies are given. Much attention is paid to the prospects for the use of digital technologies, as well as to the analysis of problems that need to be solved in order to remove obstacles to their wider dissemination. Among the areas of use of information technologies in the insurance market, the following ones are highlighted: delivering information about insurers and their services to customers; preparation of proposals of insurance products and their sale; collection of information about policyholders; assessment of insurance risks; settlement of the consequences of insurance cases; implementation of document management; accounting and reporting; and interaction with the insurance supervision authority. It is concluded that the use of digital technologies makes it possible to increase the volume of insurance transactions, improve the quality of insurance services, reduce the costs associated with the implementation of insurance activities, and ultimately enhance the effectiveness of insurance as a method of risk management. At the same time, the opportunities offered by digital technologies have not yet been fully realized in the insurance sector, hampered by both objective and subjective circumstances. Among the latter are the material and financial capabilities of insurers as well as a number of existing legislative and infrastructure restrictions in the country.

This article is devoted to studying of processes of interaction between banks and insurance companies in the process of selling their services within bancassurance system.

Background and Aim: Expenditure in the health sector requires appropriate resources management. This study was conducted to determine the amount of moral hazards associated with the service providers in the medication prescriptions paid by an insurance organization. Methods: Study population included paid pharmaceutical documents in Tehran province in 2019. 2000 prescriptions for 500 insured people were randomly selected from the database of the organization. Two indicators (the number of suspicious prescriptions based on the incompatibility of a drug with the history of the disease or the drug spectrum of an insured and the number of prescriptions with a financial burden higher than the average usual burden of a normal patient) were matched with transcript data and analyzed with SPSS version 24. An experienced pharmacist was consulted to examine the drug spectrum of all prescriptions. Results: 5.4% of total prescriptions were incompatible drugs and 6.4% had created extra financial burden. The highest incidence of risks by speciality was related to general practitioners (16 % with a surplus financial burden of 87/500/000 Rials). The highest number and amount of risks in Rials per insured group was related to supervisors (63 % with a surplus financial burden of 26/000/000 Rials). The risk in the military centres’ prescriptions were more than private and governmental centres and it was relatively equal in contracted (48%) and non-contracted (52%) centres. Conclusion: The abuse in the health service provision is a high risk for health care managers in countries that have health insurance programs which their intelligent tracking reduces many of the insurers’ costs and prevent the shortage of vital medicines. [ABSTRACT FROM AUTHOR]

The article examines the current market and the state of insurance services and the impact on them with the advent of new Blockchain technology. A number of advantages and aspects from the moment of introduction and use of technology are considered. The interpretation and expediency of its appearance on the insurance market are given. The existing experience of international insurance companies that have introduced and supported this "digitalization" of services and the introduction of new registers has been studied. The domestic experience of the state concerning the successful application of this mechanism is analyzed and the areas where it would be expedient to introduce it in the future are considered. The conclusion is given and a number of advantages and guarantees concerning quality and proper provision of services in case of application of this technology are revealed. Purpose: Analysis of international experience and practice in the introduction of Blockchain in financial markets and its emergence in the insurance segment. Impact and results of its application both abroad and at the national level. Provided recommendations on the introduction of blockchain technology in the domestic insurance market, its feasibility and benefits, which in turn provides confidence and guarantees of the insurer's obligations to policyholders. Thus, a much larger flow of clients and funds with investments will be attracted. [ABSTRACT FROM AUTHOR]

Different financial literacy models adopted by formal and semi‐formal institutes have dissimilar impacts on individuals' decision‐making and financial behavior. Individuals who participated in semi‐formal financial literacy training are more likely to borrow than those who participated in the formal financial literacy training program. Decomposition suggests that people who participated in the formal financial literacy program are more likely to subscribe to insurance services than people trained from semi‐formal financial literacy program. Individuals who participated in the semi‐formal financial literacy training program are more satisfied with their current financial situation than those who participated in the formal literacy training program. [ABSTRACT FROM AUTHOR]

Threats to financial safety of the market of insurance services and methods of it's providing are considered. The article gives a definition of a concept of a threat to financial safety of the market of insurance services as real or potential possibility of manifestation of the destructive impact of various factors on a financial state and development of objects of financial safety giving this object to certain economic, financial and social psychologically damage. The description of standard and legal, financial and economic, production and technological, infrastructure and social and psychological methods of ensuring financial safety in relation to the corporate market of insurance services in Russia and abroad is provided.

The article studies the role of insurance business in the development of national economy. It analyzes figures of insurance market, identifies the acute lines in its development and assesses the current condition of insurance industry. The author shows specific features of the effective Russian practice of protection of insurance service customers’ needs, explains legal innovations in protection of insured rights, puts forward recommendations dealing with high-quality risk management in conditions of digital economy and introduction of advanced system approaches for designing industry standards of insurance service customers’ protection with due regard to regional specificity of entities of the Russian Federation. Parameters of developing the business model of the insurance organization were identified. The author’s idea of the insurance innovation was offered and advantages of its use were demonstrated. On the basis of the analysis of the macro-economic situation on Russian regional insurance market the author assessed the level of insurance development in the territorial aspect. It was proposed to design regional insurance programs for the development of the insurance system, which could foster a rise in economic independence of regions and strengthening of finance market. Specific features of the insurance industry after joining the WTO were shown. The author came to the conclusion about the declining participation of foreign capital in insurers’ authorized capital, which proves a low interest in Russian market on the part of overseas investors. Priority goals aimed at insurance business development according to the Concept of risk-oriented approach, adopted by the Bank of Russia to regulate the Russian insurance sector were set.

Copyright of Scientific Proceedings of Ostroh Academy National University Series, Economics is the property of National University of Ostroh Academy and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Economic Development Review (2543-3490) is the property of Economic Development Review and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Scientific Proceedings of Ostroh Academy National University Series, Economics is the property of National University of Ostroh Academy and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Distribution of insurance services online is practically possible only with respect to unified and simple products. The most massive of them is civil liability insurance of vehicle owners, the terms of which are unified by the state, which allows treating this insurance product as optimal for distribution through the Internet. Such a distribution can significantly reduce the cost of acquiring and servicing this insurance service, which is an additional element of competition for insurance companies. In this paper, the dynamics of Internet access in Ukraine and Poland was investigated. The relationship between the internationalization of Poland and the share of insurance premiums received from online sales in the total number of insurance premiums of non-life companies is determined. The purpose of the research is: substantiation of the distribution potential of civil liability insurance of vehicle owners through the Internet in Ukraine. Method (methodology). In order to realize this purpose, the existing state of online sales of risk insurance services in the Republic of Poland is analysed. For analysis, in particular, methods of analysis of dynamics and correlation were applied. Empirical studies use statistics from MTIBU, KNF, GUS, Internet Live Stats, and KPMG reports. Results. It is substantiated that the growth of sales of insurance through the Internet correlates in geometric progression with the index of internetization. It is determined that in addition to the technical component of distribution through the Internet, a regulatory and legal component plays an important role. The practice of distributing online services of insurance of civil liability of vehicle owners substantiated the need for substantial elaboration of the Ukrainian legislation in the sphere of protection of client interests in such transactions. Practical implications. Taking into account the research results, it is proposed to significantly elaborate the mobile applications of insurance companies, both in Ukraine and Poland in order to ensure the supply appropriate for the countries of Western Europe. The necessity of substantive reform of the current legislation in order to bring it closer to the EU standards, namely, in accordance with the Insurance Distribution Directive, as was the case in Poland, is determined. Value/originality. For the first time, there was a study of opportunities for online distribution of insurance products in Ukraine, which became legally possible from February 2018. Based on the dynamics of the dependence between internetization and online sales of insurance products in Poland, significant prospects for this distribution channel are determined.

The purpose of the paper is to substantiate the feasibility of expanding the scope of investment insurance in Ukraine, taking into account its advantages over other types of insurance services as well as the possibility of minimizing the possible disadvantages. Methodology. The list of the research methods of the subject under consideration includes the monographic method, analysis, techniques of the abstract-logical method, etc. Results. The urgency of the article is that the disclosure of the internal potential of the insurance market in Ukraine should take place with the introduction or activation of modern insurance products capable of meeting several financial needs at once, not only of their consumers but of the state as a whole. The development of voluntary life insurance plays an important investment role in the country’s economy, therefore, at the moment, the need to develop new financial products aimed at increasing voluntary insurance is urgent. The share of life insurance services in the insurance market of Ukraine in dynamic is analysed. The purpose and positive consequences of expanding the segment of investment insurance are substantiated. Investment insurance as a financial product has both advantages and disadvantages. The benefits include the transparent structure of the insurance product, the choice of investment strategy, the possibility of obtaining increased investment returns while preserving the benefits of the insurance contract, preferential taxation of investment income, the existence of a guaranteed amount of payment in the contract, etc.; to the drawbacks – the lack of the possibility of early termination of the contract with the receipt of all the insurance premiums paid, the absence of a guarantee fund, guaranteed income, long-term contracts, limited range of people who can be insured. To enhance the use of investment insurance in Ukraine and to minimize these shortcomings, the prospects for the development of the investment insurance market are identified. Investment insurance in Ukraine has a high potential for active use and transformation into a popular insurance product. It is necessary to carry out further adaptation of products unit-linked to the structure and specifics of the domestic insurance market. The growth of the volume of investment insurance and, as a consequence, the expansion of the life insurance market as a whole, could become one of the most important factors in the development of the insurance industry in Ukraine in the near future. Practical implications. The main idea of the article was to justify the expediency of providing and using the investment insurance service in Ukraine, subject to minimize the shortcomings of this type of insurance and taking into account the prospects for its further development in the domestic financial market. Value/originality. The conducted research allowed getting some results, such as promising directions for the development of this type of financial product in the domestic insurance market.

The quality of a manager's decision improves based on high quality financial statements, hence the need to find means to increase the quality of financial reporting, specifically to increase the quality of the assurance process. The ultimate aim is to reduce the skepticism of users of financial data and to use XBRL as Internet-based technology to enable electronic preparation and exchange of worldwide financial statements.

Today, the quality of insurance services is the determining factor in the success of a company in a competitive environment. Knowledge sharing will contribute to improving the quality of services in insurance companies. This study examines the impact of knowledge sharing on the quality of insurance services. In terms of the purpose of the study, the method of study is applied and in terms of data collection is descriptive correlation. The population consisted of all employees and corporate clients of group therapy field of Dana insurance company in Mashhad, the sample size is equal to all members of society for all. The measurement tool is a questionnaire, its validity was confirmed, according to experts in the field of management, and reliability is obtained (82.0, 78/0) using Cronbach's alpha coefficient for knowledge sharing and variable quality of insurance services, respectively. The results of structural equation modeling using LISREL software indicates that knowledge sharing does not have significant effect on the quality of insurance services; but aspects of knowledge sharing, including outright transfers, expertise and strategic has positive and significant effect on the quality of insurance services in Dana insurance company in Mashhad.