Template-Type: ReDIF-Article 1.0
Author-Name: Yury A. Spletukhov
Author-Email: spletuhov@mail.ru
Author-Workplace-Name: Financial Research Institute, Moscow 127006, Russian Federation; Financial University under the Government of the Russian Federation, Moscow 125993, Russian Federation
Title: Information Technology in the Russian Insurance Market: Development Opportunities
Abstract: The article deals with the issues related to the use of modern information technologies in the insurance market of the country. In particular, the directions of their application are identified, and the characteristics of modern practice of introduction of such technologies are given. Much attention is paid
to the prospects for the use of digital technologies, as well as to the analysis of problems that need to be solved in order to remove obstacles to their wider dissemination. Among the areas of use of information technologies in the insurance market, the following ones are highlighted: delivering information about
insurers and their services to customers; preparation of proposals of insurance products and their sale; collection of information about policyholders; assessment of insurance risks; settlement of the consequences of insurance cases; implementation of document management; accounting and reporting; and interaction with the insurance supervision authority. It is concluded that the use of digital technologies makes it possible to increase the volume of insurance transactions, improve the quality of insurance services, reduce the costs associated with the implementation of insurance activities, and ultimately enhance the effectiveness of insurance as a method of risk management. At the same time, the opportunities offered by digital technologies have not yet been fully realized in the insurance
sector, hampered by both objective and subjective circumstances. Among the latter are the material and financial capabilities of insurers as well as a number of existing legislative and infrastructure restrictions in the country.
Classification-JEL: G22
Keywords: information technology, insurance, insurance market, insurance services, prospect of development
Journal: Finansovyj žhurnal — Financial Journal
Pages: 105-116
Issue: 1
Year: 2020
Month: February
DOI: 10.31107/2075-1990-2020-1-105-116
File-URL: https://www.finjournal-nifi.ru/images/FILES/Journal/Archive/2020/1/statii/07_1_2020_v12.pdf
File-Format: Application/pdf 
Handle: RePEc:fru:finjrn:200107:p:105-116