Olena Nepochatenko

The Ukrainian market of insurance services is at the stage of formation and development in the absence of a clearly defined model for further functioning. The purpose of the paper is to analyze the trends in the functioning of the Ukrainian insurance services market in the period of 2010–2021.
The results of the study reveal the general trends in the functioning of the Ukrainian insurance services market in terms of transformational features of the market composition (a significant reduction in the number of insurers – by 2.5 times), concluded insurance contracts (a significant increase by 3.5 times), market concentration (moderately concentrated), the level of insurance penetration (the average value was 1.64%).
Considerable attention is paid to the interpretation of the main indicators of market activity and their dynamics, in particular, in terms of insurance premiums and payments (the level of insurance payments was 32.2%), assets of insurers (increase by 1.5 times), formed insurance reserves (a noticeable increase by 3 times), digital transformation (in terms of internetization, individualization, digitalization).
The study made it possible to form promising vectors for the development of the Ukrainian insurance services market based on the model of social responsibility of participants in the insurance process with clear digitalization outlines and the formation of insurance relations based on innovative approaches.

Acknowledgment
This study was supported by the Ministry of education, science, research and sport of the Slovak Republic [grant VEGA 1/0689/20 Digital economy and changes in the education system to reflect labour market demands].

Agricultural insurance in Ukraine remains underdeveloped, characterized by fragmented progress and significant reliance on state support, necessitating a systematic, research-based approach for its advancement. The study evaluates the sector’s development from 2014 to 2023, employing general scientific methods of cognition. Abstract and logical methods were applied to summarize results and formulate conclusions, while comparative analysis facilitated the assessment of key trends. Graphical techniques were employed to enhance the visualization of data obtained. A monographic approach was adopted to conduct an in-depth analysis of parametric insurance, complemented by a critical review of the legal framework to evaluate its influence on the sector’s development.
The study reveals the limited scale of agricultural insurance relative to the agro-industrial sector’s growth, with only 3% of agricultural areas insured and agricultural insurance comprising 2% of insurers’ portfolios. The average claims payout rate is 50%, with reinsurance levels at 60%. The sector’s insurance products are categorized into two main types: classical and parametric. Parametric, index-based insurance demonstrates superior efficiency, achieving a claims ratio of 35% compared to 14% for classical models.
External challenges, including the COVID-19 pandemic, regulatory changes, and Russia’s military aggression, have further impeded the sector’s progress. Despite these obstacles, the study identifies promising pathways for development. These include fostering social responsibility among stakeholders, integrating digital technologies, and implementing innovative approaches to insurance practices.
The study underscores the necessity to address systemic inefficiencies, adopt tailored strategies, and align insurance practices with Ukraine’s agro-industrial sector’s unique needs to enhance resilience and promote sustainable development.