Peculiarities of Development of Automobile Insurance Market in the Conditions of Financial Instability
Journal Title: Бізнес Інформ - Year 2016, Vol 3, Issue
Abstract
The article is aimed at identifying the trends and peculiarities of the automobile insurance market development in the conditions of financial instability. Dynamics of the major indicators of development of motor insurance market in Ukraine have been analyzed. The market buildup for the period analyzed has been specified by the compulsory types of insurance. The dynamics of hull insurance (CASCO) remains instable. It is revealed that in terms of premiums and payments this segment has the largest share in the structure of the insurance market. High operation efficiency of companies that provide services in automobile insurance has been specified. The major constraints as to the full and comprehensive implementation of financial potential of the automobile insurance segment have been analyzed. The article proposes an improvement for the system of the State supervision over insurance activities, formation of conception of sustainable market development, use of foreign experience of introduction of innovative technologies in the sphere of automobile insurance services, increasing insurance culture and financial literacy of citizens as well as insurance market participants.
Authors and Affiliations
Tetiana Vasylieva
Keywords
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