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Finance and Credit
 

Possible directions to improve the assessment methods of regional insurance market development

Vol. 21, Iss. 11, MARCH 2015

PDF  Article PDF Version

Available online: 15 March 2015

Subject Heading: Insurance

JEL Classification: 

Pages: 41-49

Filina M.A. Dagestan State University, Makhachkala, Republic of Dagestan, Russian Federation
oleg-filin@yandex.ru

Subject Insurance, as an effective tool of sustainable territorial development, has not yet realized its potential. Therefore, there is an objective necessity to improve the methods for the study of regional insurance markets and to optimize the diagnostics of their condition. This will ensure the development of the entire insurance sector.
     Objectives The article aims to improve the diagnostics of the regional insurance market development through reinforcing the assessment methodology of the regional insurance market development by indicators that reflect the impact of the insurance market on investment and innovation activities of economic entities of a region. The objective is to substantiate the importance of indicators reflecting investment potential of the regional insurance market, the share of insurers in the total volume of funds invested in the region, as well as the level of using the existing investment potential by insurers of a region to assess the regional insurance market development. Another objective is to substantiate the importance of the index of insurance coverage of innovation investment by business and financial risk insurance in the region as a tool for assessing the innovation potential and innovation activity of a region.
     Methods I analyzed the main problems of modern approaches to the study of regional insurance markets and identified the need and possibility of their transformation using the methods of theoretical learning and logical methods and techniques.
     Conclusions I conclude that complementing the assessment methods of regional insurance market development with indicators that reflect and specify mutual influence of insurance and socio-economic development of the region will contribute to a more accurate diagnostics of regional insurance markets. It will also enable to streamline the diagnostics in accordance with research methodology of development of a region as a subject of the Russian Federation.

Keywords: diagnostics, regional insurance market, investment, insurers, innovation risk insurance

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