An insurance company as an element of sustainable development of the state socio-economic system: Ukraine insurance companies case study

Journal title RIVISTA DI STUDI SULLA SOSTENIBILITA'
Author/s Zoia Sokolovska, Oksana Klepikova, Tetiana Cherkasova
Publishing Year 2020 Issue 2019/2
Language English Pages 20 P. 53-72 File size 473 KB
DOI 10.3280/RISS2019-002006
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This article focuses on non-life insurance companies functioning and ensuring their sustainable development on the basis of the System Dynamics method application on the iThink system software platform. The key points of the research are the analysis of economic and mathematical methods, models, information technologies, which are used for risk valuation and insurance companies activity management; simulation models complex development for non-life insurance company management. The proposed approach allows insurance companies to analyse and pick up management factors for achieving sustainable development; to carry out an analysis of the indicators reflecting the internal and external factors that affect the stability of insurance companies and the insurance market of Ukraine. The proposed simulation-models are aimed at situational testing of the insurance company’s work in order to control financial sustainability and solvency indicators.

Keywords: Socio-economic system, insurance market, insurance company, sustainable development, financial stability, simulation modelling, system dynamics.

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Zoia Sokolovska, Oksana Klepikova, Tetiana Cherkasova, An insurance company as an element of sustainable development of the state socio-economic system: Ukraine insurance companies case study in "RIVISTA DI STUDI SULLA SOSTENIBILITA'" 2/2019, pp 53-72, DOI: 10.3280/RISS2019-002006