THE NECESSITY OF DIGITAL TECHNOLOGIES IN THE INSURANCE BUSINESS PROCESSES

Abstract

Insurance plays an important role in ensuring the functioning of the state market system. The accumulation of insurance premiums by insurers forms a significant investment resource, which ensures the financial stability of the insurer and the development of the country's economy, including small and medium-sized businesses. Several serious risks appeared on the Ukrainian insurance market: change of power, occupation of a part of the territory, anti-terrorist operation in the east of the country. Analysis of the activities of insurance companies in Ukraine showed that their number is decreasing, financial and economic indicators are deteriorating, and the cost of carrying out insurance activities and fulfilling tax obligations is increasing. Accounts payable for goods, robots, services has a negative upward trend. The loss of income of small enterprises is decreasing, while microenterprises have an uncovered loss. According to international ratings, the insurance business of Ukraine is not profitable and not effective. To improve the efficiency of the insurance market, it is necessary to restructure it, which includes the following elements: strengthening control over the capitalization and solvency of insurance companies, increasing requirements for the quality of their assets; establishing tight control over the unconditional and timely fulfillment by insurers of their obligations to customers. The inefficiency of the state regulatory policy and the lack of an effective mechanism of state regulation and supervision of insurance activities are revealed. To increase the efficiency and competitiveness of insurance companies, the necessity of using innovative and intellectual tools, including digital ones, is shown. Digital insurance is a way of implementing insurance coverage based on digital technologies, which include: big data; neurotechnologies and artificial intelligence; distributed registry systems; quantum technologies; new manu-facturing technologies; Industrial Internet components of robotics and sensorics; wireless technology; virtual and augmented reality technologies.The terminology of digital technologies in insurance business processes is considered.