Insurance Market Transformation in Conditions of Digitalization

Author:

Akhvlediany Yu. T.1

Affiliation:

1. Plekhanov Russian University of Economics

Abstract

Digital technologies foster intensification of transformation processes on insurance market. Insurance market development depends on efficient introduction of digital insurance technologies, which give an opportunity to compete with global innovation technologies providing information security on global space. The article studies acute issues of insurance market development in conditions of digital technologies. On the basis of digital insurance analysis the article shows importance of further introduction of digital technologies into insurance industry in order to raise quality of insured’ protection and to develop insurance business in digital economy. The authors came to the conclusion that digital insurance is a result of the stable and effective development of finance market. Factors influencing insurance market development were identified, the impact of COVID-19 epidemic on insurance industry was demonstrated and acute types of insurance in these conditions were studied. The role of finance theory and insurance education in insurance market transformation was described as well as the necessity of system upgrading of education technologies.

Publisher

Plekhanov Russian University of Economics (PRUE)

Reference7 articles.

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2. Akhvlediani Yu. T. Strakhovaya industriya na finansovom rynke v usloviyakh tsifrovizatsii [Insurance Industry on Finance Market in Conditions of Digitalization]. Strakhovoe delo [Insurance], 2019, No. 6 (315), pp. 33–37. (In Russ.).

3. Akhvlediani Yu. T. Strakhovoy biznes kak element ustoychivogo razvitiya natsionalnoy ekonomiki [Insurance Business as Element of Sustainable Development of National Economy]. Vestnik Rossiyskogo ekonomicheskogo universiteta imeni G. V. Plekhanova [Vestnik of the Plekhanov Russian University of Economics], 2018, No. 3 (99), pp. 92–98. (In Russ.).

4. Akhvlediani Yu. T. Strakhovoy rynok v usloviyakh razvitiya tsifrovykh tekhnologiy [Insurance Market in Conditions of Digital Technology Development]. Bankovskoe delo [Banking], 2020, No. 8 (318), pp. 41–45. (In Russ.).

5. VSS i AS&M sozdali Indeks Tsifrovogo Zastrakhovannogo [BBC and AC&M Developed Index of Digital Insured]. (In Russ.). Available at: https://www.eg-online.ru/news/431151

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