PROS AND PROBLEMS OF IMPLEMENTATION OF DIGITAL TECHNOLOGIES IN INSURANCEACTIVITIES

Abstract

Digital technologies are changing traditional business models in all areas, including insurance. The introduction of online services, mobile applications and platforms for comparing insurance products makes insurance more accessible and understandable for consumers. Innovative technologies contribute to the improvement of everyone in the insurance market. The positive development of insurance largely depends on the implementation and use of digital technologies. The article examines the influence of digital technologies on insurance activity. The main task is to describe the most important technologies and their application in risk assessment, loss prevention and improvement of insurance services processes. Currently, insurers use information technology primarily when organizing the sale of their insurance services. The transformation of business processes in insurance organizations concerns technological, monetary, advertising actions and direct technologies and sales of insurance services. The developing Internet environment not only transforms the appearance of insurance services themselves, but also develops it, expanding the segment of Internet sales or online sales, which allows us to talk about the reduction of the cost of sales, the growing trend of remote sales. The use of FinTech and InsurTech allows you to speed up the process of concluding insurance contracts and simplify communications with insurance agents and sales departments. Insurers are actively mastering mobile digital technologies due to the peculiarities of channel competition, joining the fight for the policyholder with the help of a more convenient and understandable recommendation of the insurer within the framework of standard programs and within the framework of flexible and customizable programs focused on each individual policyholder. More convenient technologies are being formed in business processes, created for the purpose of communication with policyholders in the part of support of insurance contracts, settlement of insured losses. The introduction of modern digital technologies will have a huge impact on the insurance market in the next five years. InsurTech is used to inform all stages of the insurance life cycle, such as customer targeting, pricing, product development, claims processing.