APPROACHES TO FINANCIAL RISK MANAGEMENT OF INSURANCE COMPANIES
Abstract
This article examines approaches to financial risk management in insurance companies, which is relevant in light of the current challenges facing the global financial environment. The purpose of the study is to analyze the effectiveness of the application of the latest technologies and risk management methods, which allows insurers to adapt to conditions of uncertainty and ensure their financial stability. The research methods include literature analysis, statistical methods, risk modeling and assessment of the impact of technologies such as artificial intelligence and data analytics on financial risk management processes. Risk assessment is carried out through recognition, quantitative and qualitative assessment, as well as situation monitoring. The results obtained indicate the need to implement innovative solutions, such as blockchain technologies and real-time analytics systems, which allow insurance companies not only to reduce the likelihood of financial risks, but also to quickly respond to changes in the market situation. The development of adaptive risk management strategies, as well as improving the skills of employees are important aspects for achieving financial stability. Risk management systems should provide for regular monitoring of changes in the risk situation, which makes it possible to respond to negative trends in a timely manner and prevent potential losses. General and specific methods provide a comprehensive approach to financial risk management and allow insurers to obtain accurate risk assessments, formulate scenarios of events and develop effective risk minimization strategies. The use of artificial intelligence, machine learning and big data analytics can significantly improve risk management processes by automating risk identification and analysis, as well as increasing forecasting accuracy. The practical value of the article lies in the recommendations for the implementation of effective financial risk management systems that meet the requirements of regulators, in particular the EU Solvency II Directive. This not only ensures the competitiveness of insurance companies, but also opens up new opportunities for their growth and development in the modern market.
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