DIGITALIZATION OF THE INSURANCE MARKET OF UKRAINE: MAIN PROBLEMS AND PROSPECTS UNDER MARTIAL LAW

Abstract

The article considers the essential characteristics of digitalization of the insurance market and identifies the main advantages and disadvantages that it carries for both insurers and insurers themselves. At the same time, the relevance of the development and implementation of digital technologies in the conditions of martial law in Ukraine is determined in the context of improving the processes of activity of insurance organizations and improving the quality of customer service and meeting their existing needs in insurance services. Attention is focused on the opportunities that the participants of the domestic insurance market lose in case of maintaining a certain conservatism in terms of using digital technologies and refusing to introduce them into their own activities. At the same time, the importance of scaling and comprehensive popularization of the phenomena of digitalization of the insurance market is emphasized to improve the passage of internal business processes of insurance companies, the organization of their marketing activities and communication with existing and potential consumers of insurance services. The specifics of the processes of digitalization of the insurance market in Ukraine are outlined, taking into account the economic conditions in which insurers operate today, and on the basis of this the key difficulties they face are listed. A tendency to increase the requirements of insurers to how convenient and affordable it can be to receive insurance services has been established, which makes insurance organizations accelerate the organization of measures to find new innovative solutions for customer service in order to maintain competitive advantages and continue to function as a whole under the influence of dynamic changes introduced by other market participants. Data on the transformation of the insurance services market during the martial law of Ukraine, in particular in the direction of using electronic document management and a more dynamic transition of service to online mode, which is directly due to the influence of demographic factors and time requirements, are provided in order to provide services in a convenient form for as many customers as possible. The prospects for digitalization of the domestic market in the future are determined, taking into account the importance of using an integrated approach in the introduction and use of new technologies.