AREAS FOR INNOVATIVE PRODUCTS IMPLEMENTATION IN THE INSURANCE MARKET OF UKRAINE
Journal Title: Baltic Journal of Economic Studies - Year 2017, Vol 3, Issue 1
Abstract
The aim of the article is to assess the prospects for the implementation of the investment life insurance in Ukraine. The study analysed the experience of foreign countries in the investment life insurance market development. Also, an analysis of existing definitions for the "unit-linked" term is carried out; the result is the conclusion that they are limited to only a descriptive characteristic that relates to a particular aspect of the product. Upon that, a comprehensive definition is absent at all now. Methods. The study is based on a comparison of "unitlinked" products with the traditional life insurance, which exist in the world practice. Practical importance. Increase in the inflow of long-term resources in the Ukrainian economy through the implementation of an innovative unitlinked product. Transformation of the life insurance industry into the high-margin business sphere in Ukraine. Importance/originality. A technique of constructing an innovative unit-linked product depending on the specifics of the domestic insurance market performance is developed. Results. The article considers in depth the specific features of unit-linked products, which distinguish this life insurance type from the classic accumulative insurance. In addition, it highlights other important characteristics such as a high level of flexibility and transparency of all the components. Also, the advantages and disadvantages of unit-linked products are considered as compared to alternative products, its classification is held for the selected parameter group. The estimations of the unit-linked product development prospects, as well as its influence on the growth of the insurance market, are made. The study justifies the legislative consolidation of the investment life insurance along with a number of expansionary measures successfully implemented in Eastern European countries, which are similar to Ukraine. The result within the framework of this direction is the development of steps for the implementation and development of the unitlinked product in Ukraine.
Authors and Affiliations
Diana Tretiak
Keywords
Related Articles
- EP ID EP634959
- DOI 10.30525/2256-0742/2017-3-1-88-92
- Views 53
- Downloads 0
FORMATION OF INNOVATION-INVESTMENT INTEGRATION STRATEGY FOR INDUSTRY DEVELOPMENT UNDER GLOBALIZATION CONDITIONS
The main conditions of industry sustainable development in the globalization conditions include macroeconomic stability in the national space, competitiveness and the internal and external environment efficiency. Solving...
ACTIVITIES OF UNITED TERRITORIAL COMMUNITIES AS A BODY OF LOCAL GOVERNMENT IN THE CONDITIONS OF POWER DECENTRALIZATION IN UKRAINE
The purpose of the article is to study the system of united territorial communities (UTC) formation and to conduct the analysis of their activities effectiveness, in the conditions of decentralization of power. Methodolo...
GIFTS FOR A PUBLIC SERVANT: WHETHER IT IS WORTH TO COMPLY WITH THE RULES
The article substantiates the expediency to distinguish a kind of “gift relations in the public service” – “gift relations with the participation of close persons of a public servant.” The author draws attention to the s...
ANALYSIS OF MORTGAGE LENDING IN BANKS IN UKRAINE
The purpose is a mortgage market that occupies one of the major places among the financial mechanisms of economic stimulation and stable development of the economy. The mortgage market occupies one of the main places of...
PRINCIPLES OF STATE FINANCIAL CONTROL OF UKRAINE IN THE CONDITIONS OF EUROPEAN INTEGRATION
The purpose of the study is an improvement of principles of state financial control of Ukraine taking into account European advanced experience. The subject of the research is a comparative analysis of financial control...