Valentyna Levchenko

The article examines the features of the impact of information asymmetry on the key participants of the market of non-banking financial services in Ukraine. It defines the basic reasons of its existence on the market.
The analysis of the consequences of information asymmetry for the functioning of non-banking financial services in Ukraine shows that it creates the conditions for opportunistic behavior and leads to adverse selection and moral hazard on the market.
Based on the research of existing methods and approaches to the reduction of information asymmetries the paper offers recommendations to overcome this problem on the market of non-banking financial services in Ukraine

The article studies the possibility of using optimization modelling to form the optimal structure of insurance services’ portfolio of insurance companies. Based on the data of net insurance payments and profitability of the voluntary types of insurance in 2005-2015, the authors conducted their analysis according to the possibility to be included in the general insurance portfolio of the insurance company. The optimization model is based on the approach developed by G. Markowitz. The formation of insurance services portfolio is conducted by solving the optimization problem to maximize the portfolios’ profitability or to minimize the portfolio’s risks. The obtained results can be used in making strategic decisions by the management regarding the development of insurance companies.

Keywords: insurance company, insurance service, insurance portfolio, portfolio optimization

Insurance companies form their own business models based on the interests of stakeholders. Changes in business models are due to the impact of COVID-19, deepening digitalization and customer orientation. Accordingly, the aim of the study is to systematize the approaches to business models of insurance companies using emerging market country (Ukraine) as an example, and to show the change in a business model according to the CANVAS approach under the influence pandemic. In accordance with the purpose of the study, business models of insurance companies were systematized and grouped into blocks: value-based, structural, complex, and strategic. The strategic block identifies strategic changes in the activities of insurance companies and reflects trends on the insurance market. With this in mind, business models of insurance companies should reflect the set of strategic decisions, their architecture, structure and facilitate the management of value creation operations on the insurance market. Business models have changed from traditional to innovative, hybrid and digital-oriented. The main changes in the business models of insurance companies are omnichannel communications, the launch of chatbots, Big Data, Mobile ID, Bank ID, online access to registers, Blockchain. The COVID-19 pandemic has led to a shift in business models towards socially responsible business and adherence to sustainable development goals.

This paper highlights the problems associated with the poor quality of services and the lack of effective marketing interaction between all the participants of the charter air transportation in the tourist summer season of 2018 in Ukraine. The paper aims to develop an algorithm for the actions of all participants of tourist services market in order to establish effective marketing interaction based on the analysis of the reasons influencing the destabilization of the tourist services market in the field of charter air transportation. Flight delay statistics were selected for June-July 2018 due to the fact that it was during this period that the problem manifested itself especially sharply. So, not time-series data, but cross-sectional data were selected for the analysis of the problem cause. At the same time, for confident conclusions about the increase in passenger traffic, 5-year periods were chosen, namely, the period 2014–2018 was compared with the period 2009–2013. During the research, statistical methods of one-factor linear correlation-regression analysis were used, as well as a comparative analysis of the indicators of the charter air transportation participants’ performance in Ukraine. The analysis of charter air transportation market showed that increasing the age of the aircraft in a year leads to a decrease in the proportion of timely flights by 2.5%. The marketing analysis proves that the rapid increase in the number of passengers was caused by the explosive increase in irregular flights. The results of the study also indicate that the well-organized interaction between the tour operator and the airlines significantly affects the timeliness of the flights. Based on defined problems of the charter air transportation market, a set of recommendations has been proposed for improving the marketing interaction of all market participants: tourists, tour operators, airlines and government agencies.