COMPETITIVENESS ASSESSMENT OF INSURANCE COMPANIES

The article examines the assessment of competitiveness of insurance companies. Evaluation of competitiveness allows improving the quality of management and ensuring that insurers achieve their goals at various stages of their life cycle. The article discusses various methods adapted to assess the competitiveness of insurance organizations. The authors carried out a multidimensional assessment of the competitiveness of insurance organizations using two approaches: matrix methods (BCG matrix), based on an assessment of the competitiveness of the insurance product through an indicator of sales, which, in turn, indicates consumer preferences and complex approach, in accordance with which the competitiveness of an enterprise is defined as an integral value in relation to the current competitiveness and competitive potential. The use of different approaches to assessing competitiveness is determined by the solution of strategic or tactical tasks facing the company. The choice of research objects of the three largest companies in the TOP‑10 of the Russian insurance market allowed us to conduct a comparative analysis of both individual indicators affecting competitiveness and calculate the integrated integral value of the competitiveness of an insurance organization, which is formed according to the principle “maximum distance”. The obtained results allow insurance organizations to develop management decisions that ensure their development in a competitive environment. As a result of the valuation carried out by selected methods, Ingosstrakh is the most competitive company.

insurance, competition, insurance organization, insurance organization competitiveness, competitive environment, insurance market, competitiveness assessment, competitiveness assessment methods, BCG matrix, integral competitiveness indicator.

Khitrova E. M., Popova E. S. Competitiveness assessment of insurance companies. Business. Education. Law, 2019, no. 2, pp. 205–211. DOI: 10.25683/VOLBI.2019.47.229.