Marketing Complexes as a Mechanism for Managing the Financial Activities of Insurance Companies in Ukraine(Pages 588-600)
Valentyn Dranus1,*, Liubov Dranus2, Inna Tsvihun3 and Kateryna Chernenok4
1Department of Finance and Credit, Petro Mohyla Black Sea National University, Mykolayiv, Ukraine.
2Department of Management, Petro Mohyla Black Sea National University, Mykolaiv, Ukraine.
3Department of Accounting, Taxation and E-Business Technology, Higher Education Institution " Podilskyi State University & quot; Kamianets-Podilsky, Ukraine.
4Department of Finance and Credit, Petro Mohyla Black Sea National University, Mykolayiv, Ukraine.
The purpose of the study is to analyze the market of insurance products in Ukraine, to determine the effective implementation of marketing complexes in the activities of insurance companies and their impact on the management of financial activities of insurance companies. The analysis of the insurance market in Ukraine is carried out and, taking into account the diversity of external and internal financial relations of insurers, increased competition, the mechanism of effective financial management at the micro level is proposed using world experience and taking into account domestic peculiarities. The legal framework and the mechanism of state regulation of financial services markets, the current state of the insurance market in Ukraine, the dynamics of changes in the number of insurance companies, the factors that negatively affect the activities of insurers are analyzed. For insurance companies that continue to operate, it is proposed to intensify the use of marketing mechanisms in insurance, which will allow insurance companies to adapt to their business activities in conditions of uncertainty in order to increase sales of insurance products and meet customer needs. To put this idea into life a simulation model has been developed that will achieve the appropriate level of marketing strategy and determine the most attractive alternative from a variety of alternatives to effectively manage the financial activities of the insurance company, which will ensure a positive financial result in the long run.
Insurance market, Insurance company management mechanisms, Competitiveness, Marketing mechanism, Marketing complexes
How to Cite:
Valentyn Dranus, Liubov Dranus, Inna Tsvihun and Kateryna Chernenok. Marketing Complexes as a Mechanism for Managing the Financial Activities of Insurance Companies in Ukraine. [ref]: vol.20.2022. available at: https://refpress.org/ref-vol20-a67/
Licensee REF Press This is an open access article licensed under the terms of the Creative Commons Attribution Non-Commercial License (http://creativecommons.org/licenses/by-nc/3.0/) which permits unrestricted, non-commercial use, distribution and reproduction in any medium, provided the work is properly cited.