ECONOMIC ESSENCE AND TYPES OF INNOVATIONS IN THE INSURANCE BUSINESS

І.Ю. Кисільова, V. O. Gerasimova, С. А. Файзуллина

2026

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DOI 10.26661/2414-0287-2026-2-70-11
Data confidence 70 medium
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Abstract

The article is devoted to the study of the problems of application and classification of innovative technologies in insurance. A general classification of the types of innovations used by insurance companies is given. It is shown that innovations in the insurance sector are closely related to the main areas of activity of insurers. The factors of innovative activity of insurance companies in Ukraine are determined, in particular, factors that stimulate the innovative activity of insurers and factors that inhibit the innovative activity of insurers. Insurance services based on the use of digital technologies are known as InsurTech or digital transformation of insurance and involve the use of innovative digital technologies (artificial intelligence, big data, mobile applications, blockchain, etc.) to improve and automate business processes in the insurance sector. An overview of innovative product offers of domestic insurance companies is given. The main trends in InsurTech are determined, in particular, the expansion of the range of insurance services, the development of embedded insurance and the use of innovative technologies. The main innovative insurance startups are analyzed, in particular InsurTech, InsurTech Urban Jungle and a combined policy from the digital insurer Wakam. The characteristics of the online service of the Technology Company EASY PEASY Insurtech for a motor insurance policy on the “pay-as-you-go” principle and EASY KATKA are determined. A list of modern digital technologies used in the insurance market of Ukraine is provided. The main trends in the development of innovative technologies in the insurance market of Ukraine are determined. Examples of similar technologies of domestic insurers are given: PrJSC “Ukrainian Fire Insurance Company”, Insurance Company “TAS-life”, Insurance Company “Kraina”. It is noted that the main innovations in the domestic insurance market are product and sales. However, domestic insurance organizations, in particular PrJSC “Ukrainian Fire Insurance Company”, SG TAS are actively implementing management and technological innovations, which involves the installation of special information and software for financial monitoring. Directions for improving the management of insurance organizations through the use of innovations have been identified.