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Insurance Intermediaries in Ukraine: Functional Peculiarities, Problems and Prospects of Development
Tatarina T. V.

Tatarina, Tetiana V. (2020) “Insurance Intermediaries in Ukraine: Functional Peculiarities, Problems and Prospects of Development.” Business Inform 7:236–242.
https://doi.org/10.32983/2222-4459-2020-7-236-242

Section: Finance, Money Circulation and Credit

UDC 368.023.5

Abstract:
The article is aimed at determining the peculiarities of insurance intermediaries in Ukraine, problems in their activities and prospects for further development. The article substantiates features in the activity of insurance intermediaries, in particular insurance agent, insurance and reinsurance broker by comparing their functions according to a number of signs: direction of insurance service promotion; type of activity; organizational-legal form; participation in the organization of the insurance operations to be carried out. The experience of developed countries in mediation was considered, the number of intermediaries in the European national insurance markets was determined. The comparison was made for the main indicators of activities of the brokerage network in Ukraine (share of the premium received through intermediaries, general insurance premium in the market, dynamics of the number of brokers in Ukraine for 2015–2019, dynamics of the number of contracts concluded through intermediaries in terms of voluntary and compulsory insurance). In the life insurance segment, the domestic insurance companies usually use services of a network of agencies, the number of contracts with brokerage representatives is annually reduced. In addition to insurance, the services of intermediaries are also of demand in reinsurance, but their concentration is inherent only for the field of voluntary property insurance. As a result of the carried out analysis of mediation activities in Ukraine, a number of problems is defined. The directions of their solution together with creation of favorable conditions for further development of domestic insurance market are substantiated.

Keywords: insurance market, insurance intermediaries, insurance and reinsurance broker, insurance agent, commission of intermediaries.

Fig.: 1. Tabl.: 5. Bibl.: 8.

Tatarina Tetiana V. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Insurance, Kyiv National Economic University named after Vadym Hetman (54/1 Beresteiskyi Ave., Kyiv, 03057, Ukraine)
Email: [email protected]

List of references in article

“Business Insurance ranks the 100 largest U. S. insurance brokerage firms“. https://www.businessinsurance.com/article/00010101/NEWS06/912325911/BI-Top-100#
“Insurance Fact Book 2019: Top 10 Global Insurance Brokers By Revenues“. https://www.iii.org/sites/default/files/docs/pdf/insurance_factbook_2019.pdf
“Pidsumky diialnosti strakhovykh kompanii“ [Results of Insurance Companies]. Ofitsiinyi sait Natskomfinposluh. https://www.nfp.gov.ua/
Sholoiko, A. S. “Rynok strakhuvannia zhyttia v Ukraini ta yoho infrastruktura“ [The Life Insurance Market in Ukraine and Its Infrastructure]. Investytsii: praktyka ta dosvid. 2018. http://www.investplan.com.ua/pdf/5_2018/8.pdf
Tkachenko, N. V., and Riabokon, N. P. “Systemnyi pidkhid do realizatsii strakhovykh produktiv“ [Systemic Approach to Sales of Insurance Products]. Zbirnyk naukovykh prats Cherkaskoho derzhavnoho tekhnolohichnoho universytetu. Seriia «Ekonomichni nauky». 2014. http://ven.chdtu.edu.ua/article/view/85683/81347
[Legal Act of Ukraine] (2004). https://zakon.rada.gov.ua/laws/show/1961-15?Find=1&text=%EA%E2%E0%EB%B3%F4%B3%EA#w12
Tymchak, M., and Leheza, N. “Osnovni problemy rozvytku strakhovykh poserednykiv v Ukraini ta mozhlyvi shliakhy yikh vyrishennia v suchasnykh umovakh“ [The Main Problems of Development of Insurance Intermediaries in Ukraine and Possible Ways to Solve Them in Modern Conditions]. Transformatsiia natsionalnoi modeli finansovo-kredytnykh vidnosyn: vyklyky hlobalizatsii ta rehionalni aspekty. Uzhhorod, 2016. 381-384.

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