PROFITABILITY OF THE INSURER: ASSESSMENT AND MANAGEMENT IN MODERN CONDITIONS
Abstract
The article is devoted to the analysis of the insurer's profit and the process of its management in modern conditions. Taking into account the fact that the activities of the insurer are aimed at obtaining profit, it is important to build a high-quality system of its management. For this, it is necessary to understand the order of its formation taking into account the specifics of insurance activity, to determine the peculiarities of its distribution taking into account the requirements of the legislative framework and the development strategy and current activities of the company, as well as the directions of use in the corresponding reporting period. The article defines the insurer's profit management, which is based on the combination of the interests of the insurer and the insured, which must be taken into account in the process of such management. The main tasks of profit management of the insurance company are outlined, the components of the mechanism of its management are defined. In particular, the mechanism should contain a number of levers, tools and methods that can be used to influence the company's profit. At the same time, it is important to take into account the provisions of the legislation regarding the formation, distribution and use of profit. The model for assessing the profitability of the insurance company is also presented. It includes a set of successive stages of assessment of the main components of the insurance company's performance. This includes the analysis of indicators of general insurance activity, which is used for insurance market statistics, the analysis of all income and expenses of the company in terms of its types, the assessment of profitability based on the calculation of absolute and relative indicators. The evaluation based on the model will allow the formation of a high-quality database for making effective strategic and tactical management decisions by the company's management. To ensure the analysis of information, it is appropriate to use the data provided in the financial statements and specialized reporting of the insurer.
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