Assessment of the insurance market development as a determinant of economic security of insurance sector enterprises under the influence of external and internal threats
Journal Title: Економіка. Фінанси. Право - Year 2019, Vol 3, Issue
Abstract
The study of the basic approaches to assessing the level of economic security of enterprises enables to state that each of the methods we have reviewed has certain limitations in the use, and therefore does not allow to fully and precisely determine the existing situation. Indicator and resource-functional approaches to assessing the economic security level have become the most widespread. In this case, assessing the economic security is reduced to the assessment of the quality of enterprises by comparing the value of the indicators calculated for a certain given time with the values of previous moments or critical ones. However, it should be noted that there is currently no single unified approach to defining the limits of economic security indicators. The level of effectiveness of each particular mathematical method (model) is determined by the extent to which the totality of observed phenomena meets the criteria of completeness, compactness, consistency and explicitness. At the same time, this totality is reflected in correlations, which are processed by certain hypotheses. The qualitative analysis of the economic security state of enterprises precedes the quantitative one and consists in the classification of all possible threats to activities, factors that determine them, forecasting possible negative consequences of the implementation of these threats, determining ways to reduce their level. For a more complete description of the economic security state of enterprises, the quantitative analysis is also required. The results of the quantitative assessment will allow comparing levels of economic security in time and space, analyzing the trend of their changes, quantifying the impact of various factors on the level of economic security and the causal link between the determinants and the level of economic security. However, one needs an appropriate tool in order to assess the level of economic security. The SWOT analysis of the conditions for the insurance market development made it possible to identify the advantages, opportunities, disadvantages and threats of the market development, which will further influence the use of strengths, prevent the existing problems and develop alternative scenarios for its development. The factors of strengths and weaknesses for SWOT analysis have been selected from the dispersion of the specific impact factors of the method of paired comparison on the basis of the multidimensional scale.
Authors and Affiliations
Svitlana Ihorivna Drobyazko
Keywords
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