Modelling of the system of crisis management of insurance companies of Ukraine in terms of unstable economic development

Slobodyanyuk, Natalja and Слободянюк, Наталя Олександрівна and Слободянюк, Наталья Александровна and Yankovskyi, V.A. and Янковський, Валерій Андрійович and Янковский, Валерий Андреевич (2017) Modelling of the system of crisis management of insurance companies of Ukraine in terms of unstable economic development. БІЗНЕС-НАВІГАТОР (4-2 (4). pp. 124-129. ISSN 2522-4751

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Abstract

In the paper the system of crisis management of insurance companies of Ukraine is modelled in order to increase the efficiency of managerial decisions when choosing a scenario of company development based on risk minimization in the long run. The proposed system has the following blocks: subject and object of crisis management; mechanism of crisis management; information about the environment; information on the state of the object of crisis management; feedback. The current Ukrainian legislation regulating the functioning of crisis management mechanisms in the conduct of insurance activities is systematized in accordance with the International Solvency II Directive. Estimation of the main indicators of the insurance market of Ukraine for 2014–2017 is given. A steady tendency towards the annual decrease in the number of insurers against the background of an increase in the growth of insurance premiums and payments is revealed. The financial status and solvency indices of domestic insurers included in TOP-10 of the major insurance companies of Ukraine according to the site forinsurer.com were diagnosed, which allowed substantiating the practical necessity for timely introduction into the activity of the system of crisis management of insurance companies

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