Analysis of the activity of the insurance company and prospects of its development on the market of insurance services (on the example of PJSC “Insurance Group “TAS”)

Abstract

The relevance of the work lies in the need to ensure the effective operation and development of insurance companies on the insurance services market in the conditions of globalization and growing international competition. The purpose of the study was to define the essence and to do the analysis of insurance services for individuals and legal entities as well as the prospects for their development. The study used the method of analysis and synthesis, and the factor analysis of the overall profitability indicators was also carried out. The analysis of insurance services was carried out on the example of the activities of the insurance group “TAS”. The main results of the study are presented in the analysis of the financial and economic indicators of the insurance group “TAS”. The dynamics of insurance premiums, insurance payments and insurance reserves of the company under study, including those by type of insurance services, are analysed. The analysis proved that the insurance company “TAS” currently holds the leading positions on the Ukrainian insurance market in terms of insurance payments. The factors that positively influence the development of insurance and ensure its constant financing are considered. In order to determine the level of profitability on the insurance services market, the article analyses profitability indicators for the products of the insurance company “TAS” and tracks the impact of changes in the structure and volume of insurance products on these indicators. The article presents the structure of the insurance development cycle, which allows to define the goals of insurance services development and requires an assessment of the company’s capabilities for their implementation. It is proved that the introduction of new insurance services will allow the insurance company “TAS” to ensure continuous and stable operation on the market. The practical significance of the research lies in the substantiated prospects for the development of insurance company services.