THE MODEL OF INTERACTION BETWEEN INSURANCE INTERMEDIARIES AND INSURANCE COMPANIES IN THE ASSURANCE OF SUSTAINABLE DEVELOPMENT OF THE INSURANCE MARKET
Journal Title: Baltic Journal of Economic Studies - Year 2017, Vol 3, Issue 1
Abstract
The purpose of this paper is the investigation of the model of interaction between insurance intermediaries and insurance companies in the assurance of sustainable development of the insurance market. The methodology is based on the new studies and books. It is underlined the importance of potency and effectiveness of this model, its influence on the insurance market stability. It is analysed the European experience and specific of Ukrainian insurance market. The main ways for improving its model and ways of its practical realization are characterized. Results. The problems that exist in the broker market in general are connected with an ineffective state policy. In particular, we can say about the absence of many laws, acts, resolutions, which explain what a broker have to do in case of different problems with insurance companies, another brokers and clients. At the same time, the problem of distrust to national brokers exists. It provokes a decline of the demand for their services and so on. However, it is possible to solve these problems. Practical implications. For this, it is necessary to do some acts. The first one is to implement resolutions that regulate relationships between insurance brokers and insurance companies, clearly regulate the model of its interaction. This model affects the stability of the insurance market in general. The second is to find methods of solving problems of the increase in insurance culture of the population (for example, by the way of advertisement). The third one is to solve problems connected with the appearance of foreign brokers in the insurance market of Ukraine. Actually, the Ukrainian market of insurance brokers is not developed enough. That is why it needs big changes and reforms. Value/originality. Among alternatives of the strategic development of insurance, the method of quick liberalization and gradual development is distinguished. According to the liberal way, it is possible to transfer to the market mechanisms of functioning of insurance both in the inside and outside markets. The gradual development includes the state defence of national companies until they will be competitive.
Authors and Affiliations
Nataliia Kudriavska
Keywords
Related Articles
- EP ID EP497372
- DOI 10.30525/2256-0742/2017-3-1-58-63
- Views 48
- Downloads 0
IMPLEMENTATION OF THE ECONOMIC AND MATHEMATICAL MODEL FOR THE DEVELOPMENT OF THE COMPLEX OF SERVICES FOR PASSENGERS IN THE RAILWAY SECTOR
The purpose of the paper is to create an economic and mathematical model for identifying the main areas of service development in the implementation of passenger transportation by railway transport. Methodology. The surv...
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...
INSTITUTIONAL MODERNIZATION OF THE GLOBAL ECONOMY
The aim of the research is the improvement of the concept of the institutional structure of the economy in the conditions of corporatization on the basis of researching the international experience of development of stab...
ECONOMIC CONSEQUENCES OF FINANCIAL STABILITY VIOLATION OF WORLD AUTOMOTIVE CORPORATIONS
The purpose of the paper is to determine the state of automotive corporations’ financial stability and to generalize the consequences of its violation for their activity and the global economy as a whole. Methods. The th...
METHODOLOGICAL BASES OF CLASSIFICATION OF SOCIAL RISKS
The purpose of the study is to develop methodological principles of classification of social risks in the context of requirements of social risk management. The risk is considered as possible occurrence of a risk of a ne...