Abstract
The
evaluation of the prospects and the formation of the strategy for the
development of the insurance business are based on a strategic analysis, which
is a tool for selecting, consolidating and evaluating information on the state
of the external and internal environment, as well as the factors that have the
greatest impact on this branch of the financial market. That is why the
improvement of the tools of strategic analysis is given a worthy attention in
the scientific community and the business community in Russia and abroad. In
this study, various scientific trips developed by Russian and foreign
scientists, applied to the insurance business, including a SWOT-analysis,
supplemented by a correlation analysis, which not only highlighted the
strengths and weaknesses of the insurance business, its potential opportunities
and threats, but also to form their weighted estimation taking into account the
influence of the most significant factors. The result of the study is an
assessment of the prospects for the development of insurance business in Russia,
as well as the development of a toolkit for strategic analysis of insurance
companies. The scientific results have been tested on the example of one of the
largest Russian insurance companies “Rosgosstrakh –Life” and can find
perspective application in the whole system of the insurance market.
References
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Abstract
References
- Ansoff, I. (1999). New corporate strategy. P. 416.Grant, R. (2012). The modern strategic analysis. P. 488.Kazakova, N. (2017). The modern strategic analysis. P. 386. Kazakova N., Gendon, A., & Khlevnaya, E. (2016). Development potential of Russian mining-and-chemical holdings. GORNYI ZHURNAL. No.7. Pp. 89–91.Kazakova, N., Gendon, A., Khlevnaya, E., & Sedova, N. (2017). Prediction of development in the mining and chemical industry in Russia and in the world. GORNYI ZHURNAL. No. 4. Pp. 49–52.Kazakova, N., Bolvachev, A., Gendon, A., & Golubeva, G. (2016). Monitoring Economic Security in the Region Based on Indicators of Sustainable Development. Studies on Russian Economic Development. Vol. 27. No. 6. Pp. 650–660.Kazakova, N., Bolvachev, A., Gendon, A., & Golubeva, G. (2017). Value Added Analysis and Trend Forecasting in the Manufacturing Industry in Kaliningrad Oblast. Studies on Russian Economic Development. Vol. 28. No. 2. Pp. 160–168.Kaplan, R., & Norton D. (1992). The Balance Score Card - Measures that drive performance, in: Harvard Business Review, Jan-Feb 1992. Pp. 71-79.Kaplan, R., & Norton, D. (1997). Balanced Scorecard: Strategien erfolgreich umsetzen, Stuttgart . P 333.Karagod, V., Golubeva, N., & Erokhina E. (2017). Institute of Audit in Russia: Challenges and perspectives. Journal of Advanced Research in Law and Economics. Vol. 8, Issue 1. Pp. 330-339.Karagod, V., Golubeva, N., & Erokhina, E. (2018). The zones of turbulence in the Russian audit market. Abstracts & Proceedings of INTCESS 2018. 5th International Conference on Education and Social Sciences. №1. Pp.1102-1105.KPMG: Review of the insurance market in Russia (2017). https://assets.kpmg.com/content/dam/kpmg/ru/pdf/2017/07/ru-ru-russian-insurance-market-survey-2017.pdfPorter, M. (1999). Wettbewerbsvorteile: Spitzenleistungen erreichen und behaupten, Frankfurt. P.69.Russian insurance market in 2017: https://ria.ru/ny2018_resume/20171218/1511188991.htmlReview of key performance indicators of insurers. Information-analytical materials (2017). https://www.cbr.ru/finmarkets/files/supervision/review_insure_17Q4.pdf - Central Bank of the Russian Federation.Thompson, Jr., Arthur, A., & Strickland, A. (2006). Strategic management: concepts and situations for analysis. P. 157.
Details
| Primary Language | English |
|---|---|
| Journal Section | Articles |
| Authors | |
| Publication Date | January 10, 2019 |
| Submission Date | October 30, 2018 |
| Published in Issue | Year 2018Volume: 4 Issue: 12 |
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