Open AccessSimulation model of the insurance company management in market conditions
Author(s) -
Lesya Buiak,
Kateryna Pryshliak,
Oksana Bashutska
Publication year - 2021
Publication title -
naukovij vìsnik černìvecʹkogo unìversitetu. èkonomika
Language(s) - English
Resource type - Journals
eISSN - 2519-4372
pISSN - 2519-240X
DOI - 10.31861/ecovis/2020-829-12
Subject(s) - reinsurance , actuarial science , flexibility (engineering) , econometric model , competition (biology) , stochastic modelling , business , general insurance , key person insurance , insurance policy , economics , finance , econometrics , ecology , management , biology
The article is devoted to the study of the financial mechanism and features of insurance companies and the development of economic and mathematical models for finding quantitative parameters of management of an insurance company in market conditions. The object of research is the activity of insurance companies of Ukraine. The subject of research is economic and mathematical methods and models in the system of optimal management of the insurance company in market conditions. Scientific research was conducted using the following methods: methods of systems analysis, econometric methods, methods of probability theory and mathematical statistics, simulation and stochastic modeling.The developed set of models allows to make optimal decisions in the conditions of unstable micro- and macroenvironment taking into account strengthening of a competition in the insurance market. The use of research results, including software to simulate the insurance company, provides flexibility in the management of pricing, cost policy, in the formation of the insurance portfolio, is a tool for choosing reinsurance and investment strategy to optimize the financial results of the insurance company.