Marketing Complexes as a Mechanism for Managing the Financial Activities of Insurance Companies in Ukraine

Abstract

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.