Institutional forms and their competitive analysis of organization of insurance activities in Ukraine

Olga Slobodianiuk; Galina Tolkacheva

doi:10.31520/2616-7107/2018.2.1-9

Olga Slobodianiuk Odessa Institute of Trade and Economics of Kyiv National University of Trade and Economics, Ukraine http://orcid.org/0000-0003-2678-4707
Galina Tolkacheva O.S. Popov Odessa National Academy of Telecommunications http://orcid.org/0000-0002-4374-5737

DOI: https://doi.org/10.31520/2616-7107/2018.2.1-9

Abstract

Introduction. In the insurance market of Ukraine, there is a need for non-commercial insurance, which does not carry out business activities in favor of shareholders, but implements the principle of collective mutual assistance of insurance participants. Its necessity is determined, first of all, by the possibility at affordable prices to provide real insurance coverage to the general population, agricultural producers, small business representatives, and others like that.

The development of the strategic development of the work of insurance companies prompts them to rational use of all their resources, in order to increase their efficiency at all stages of development. For this purpose, special methods of strategic management are used, which include the search for economic criteria that provide an objective assessment of the company's activities.

Thus, conducting this analysis will enable each company to make it competitive on the insurance market.

Aim and tasks. The purpose of the article is to reveal and substantiate the institutional forms and perform SWOT analysis to identify the weak and strong points of the organization of the insurance company and the strategic development of insurance activities in general.

Research results. The article reveals the concept of institutional forms of organization of insurance activity in Ukraine. Conducted competitive analysis (SWOT-analysis) of strategic development of insurance companies and organization of insurance activity in Ukraine. The proposed ways of strategic development, weak and strong forms of organization of insurance activity are revealed.

Conclusion. Insurance companies have financial institutionalization of their forms of activity. Under this concept is understood the process of consolidation of norms, roles, statuses, rules for bringing and combining them into the insurance system for the ability to act for insurance protection.

The conducted analysis of the activity of the insurance company, its development strategy provides an opportunity to identify the most promising directions for its development and organization of work. Thus, the identification of weak and strong sides of the company, based on SWOT analysis, positively influences the development of the company's future strategy, its organizational structure, as well as the quality and price of insurance services.

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