PROSPECTS FOR THE DEVELOPMENT OF CORPORATE SOCIAL RESPONSIBILITY OF THE INSURANCE BUSINESS IN UKRAINE

Abstract

The article is devoted to the prospects for the development of corporate social responsibility of the insurance business in Ukraine in today's conditions. The research examines corporate social responsibility as a voluntary initiative of the company owner or the founders of the organization to develop and implement certain socially-oriented, non-profit activities aimed at improving the quality of the external environment for the company or organization. In particular, the areas of implementation of the strategy of corporate social responsibility of the insurance business in Ukraine were studied. Also, certain aspects of the strategies of corporate social responsibility of the insurance business in Ukraine were considered. In general, the article emphasizes the importance of implementing six main socially responsible programs of the corporate social responsibility strategy, which can be implemented by insurance companies in their activities. In the course of the work, it was proved that in the context of the development of the insurance business, social responsibility is of great importance for the insurance business. Corporate social responsibility should be an important component of the concept of modern insurance business development. Thanks to a high level of corporate social responsibility, insurance companies acquire a number of advantages and occupy important places in the life of society, their socially responsible behavior is a guarantee of a decent standard of living of the population, the prosperity of business structures and the effective functioning of the market economy. The social responsibility of the insurance business can be considered in the context of the following aspects: in the internal aspect, it is manifested in the orientation of social responsibility towards employees (training programs, collective insurance, formation of corporate culture, etc.); in the external aspect – on business partners (company reputation), consumers (quality improvement programs, social advertising), society (provision of socially significant services, environmental protection programs, education and research, cooperation programs with the authorities, support for sports, cultural and artistic events, sponsorship). Under modern market conditions, the tools of social responsibility of representatives of the insurance business are becoming more and more creative and effective, and also provide an opportunity to increase the receipt of insurance payments, the level of knowledge of the trademark, and the value for the client. The insurance business strives to develop insurance, investment, environmental and corporate culture in society, to form a loyal attitude to the insurance institute and respect for market participants, which should develop on the principles of fair competition and protection of consumer rights. All activities and projects of corporate social responsibility ensure the development of trust, full and honest information of consumers of insurance services, clients about offers for insurance coverage. Social campaigns greatly contribute to environmental protection, health care, social assistance, dissemination of knowledge and development of insurance culture and road safety.