MATHEMATICAL METHODS AND MODELS OF ANALYSIS OF FINANCIAL INDICATORS IN THE FORMATION OF THE LIFE CYCLE OF INSURANCE ORGANIZATIONS

Life insurance is a type of insurance that provides financial protection and ensures the payment of the insured amount in the event of the death of the insured person. The purpose of life insurance is to provide financial support to a family or loved ones in case of loss of a breadwinner or basic earnings. The sum insured is paid to the beneficiary specified in the insurance contract and can be used to cover funeral expenses, repayment of debts, payment of daily expenses and ensuring the future well-being of the family. Life insurance may also offer additional options, such as accumulative investment products or the possibility of receiving an insurance payout upon the occurrence of certain events, such as a serious illness or disability. The purpose of this work is to form mathematical models for studying the main indicators of insurance companies engaged in life insurance in Russia, using mathematical and statistical methods in the Statistica system. Namely, systems of simultaneous equations have been applied to study life insurance indicators. The object of the study is personal insurance as an insurance industry related to the life, health, working capacity and pension provision of the insured person or policyholder. The subject is well-known life insurance companies of the Russian Federation, such as Sberbank strakhovanie zhizni, AlfaStrakhovanie, Rosgosstrakh, Kapital Life, Renaissance Strakhovanie, RESO Garantiya, Soglasie. The information base for the study was the official data from the Bank of Russia website and the websites of insurance companies. Software used in the work: Microsoft Excel and Statistica.

life insurance, insurance product, statistical analysis of life insurance, systems of simultaneous equations, insurance premiums, insurance payments, regression analysis, insurance companies of the Russian Federation, identifiability, least squares method, endogenous and exogenous variables

Dudinova A. S., Cherepanov M. A., Tsareva G. R. Mathematical methods and models of analysis of financial indicators in the formation of the life cycle of insurance organizations. Biznes. Obrazovanie. Pravo = Business. Education. Law. 2023;4(65):141—148. DOI: 10.25683/VOLBI.2023.65.855.