DEVELOPEMENT OF STRATEGIC TOOLS FOR ENSURING THE OMPLETITIVENESS OF INSURANCE COMPANY

Abstract

A systematic approach implemented through strategic analysis in the development and economic evolution of manager’s initiatives can serve as a methodological basis for solving strategic tasks to increase the competitiveness of an insurance company. According to the results of the GAP-analysis conducted at the object of study, gaps were identified in factor that provide financial guarantees to customers and for the image of insurer, namely, those related to solvency, financial stability, image, recognition and preferences of insurers. Taking into account the situation in the insurance market, in order to eliminate the gaps, complex measures are proposed to normalize business development, as well as for the stable functioning of the company in future periods, involving package sales of insurance services and active marketing communication. It is legitimate to say that the that the implementation of strategic plans will have an impact both on increasing competitiveness in general and on certain aspect of the economic activity of an insurance company (eliminating the threat of the impossibility of providing insurance reserves with equity, improving the of an insurer).