Competition factors

Signs of manifestation of factors in the market

1. Situation in the industry

Number and capacity of insurance companies competing in the market

There is a group of insurance companies that are equal in power or there is one or more insurance companies that are clearly superior in power to the one under study.

Change in effective demand

The main factors influencing the state of the insurance market: Growing unprofitability of voluntary health insurance due to a sharp increase in the number of insured applications, as well as against the background of lower tariffs; Implementation by major insurers of programs to create their own medical institutions and clinics; Compression of the credit segment of insurance from the National Assembly due to a sharp reduction in lending; Volume reduction state support in insurance of agricultural risks; Sharp, in some cases unjustified reduction of rates in the corporate insurance market; The reduction in car sales, the general decrease in insurance penetration against the backdrop of low effective demand, were reflected in the fall of the car hull market in the 1st quarter; Maintaining low premium growth rates due to the crisis; Lack of tax incentives; Uncertainty about replacing licensing with imputed liability insurance.

The degree of standardization of the insurance product offered on the market acts in the direction of increased competition. Indeed, when each manufacturer offers its own product model or its own set of services designed for one market segment, competition is reduced to a minimum. And, on the contrary, when all manufacturers produce homogeneous products intended for equally for all consumers, competition among them is high. Of course, these are extreme cases. In practice, products in any market are differentiated to one degree or another, which does not eliminate competition, but only slightly reduces the degree of competition.

The cost of switching a customer from one insurer to another, especially when there is a significant amount of after-sales service, can to some extent reduce the level of competition that threatens the insurance company. Indeed, the predetermined features of the delivered product may make it unprofitable or simply impossible to invite a third-party company for after-sales service.

Exit barriers work to increase competition in the market. If switching to another industry market or leaving this business area is associated with significant costs, then it is natural to expect more persistence of the firms being forced out of the market in the struggle for their positions.

Barriers to market entry are closely related to the previous factor and act in the opposite direction, that is, increasing barriers reduces competition and vice versa. This is due to the need for significant investments, the need to acquire special knowledge and qualifications, etc. The higher the barriers to entry, the greater the differentiation by type of insurance product and other factors. In this case, existing insurance companies have advantages over newly emerging competitors due to their prestige and experience.

Strategies of competing insurance companies operating in the market are considered in order to identify differences and commonality in the strategic attitudes of competitors. So, if the majority of insurance companies adhere to the same strategy, then the level of competition increases. On the contrary, if the majority of companies follow different strategies, the level of competition is relatively reduced.

The attractiveness of the market for a given product significantly determines the level of competition. For example, a sharp expansion in demand causes a rapid influx of competitors. Now consider how the influence of potential competitors affects the level of competition in the industry.

The seriousness of this threat depends on the size of the barriers, that is, the difficulties and costs that the "newcomer" has to overcome in comparison with the "old-timers" of the industry.

An analysis of the factors and conditions affecting the insurance market showed that

the main factors influencing the state of the insurance market: the growing unprofitability of voluntary medical insurance due to a sharp increase in the number of insured applications, as well as against the backdrop of lower tariffs; implementation by major insurers of programs to create their own medical institutions and clinics; Compression of the credit segment of insurance from the National Assembly due to a sharp reduction in lending; reduction of state support for agricultural risk insurance; a sharp, in some cases unjustified reduction in rates in the corporate insurance market; a decrease in car sales, a general decrease in insurance penetration against the backdrop of low effective demand, were reflected in the fall in the car hull market in the 1st quarter; maintaining low rates of premium growth due to the crisis; no tax incentive.

Studies of competitors in the insurance services market based on the results of the first half of 2009 show that the direct competitors in the insurance market are universal market insurers. In a number of subjects of Russia, companies compete both with branches of the largest insurers and with strong regional insurance organizations.

In the priority market segment for most insurers - voluntary insurance other than life insurance and OSAGO, competitors are insurance companies: SOGAZ, Rosgosstrakh, RESO-Garantia, Alfastrakhovanie. Segmentation in Figure 2.1.1

Rice. fig.2.1.1

In the segment of property insurance of business entities and individuals, including transport, competitors are Rosgosstrakh, SOGAZ, RESO-Garantia, Alfastrakhovanie - Fig. 2.1.2

The competitive advantages of insurance companies in this type of insurance are: large enterprises, a wide network of branches and representative offices, including those outside Russia, a solid system of reinsurance protection, including in foreign reinsurance markets, the presence of an agent network throughout the Russian Federation, high-quality service in the field of loss settlement, including completeness and timeliness payments, which crisis conditions allows you to attract a large number of customers looking for reliable insurance coverage.

OSAGO - Compulsory insurance of civil liability of vehicle owners. The main competitors in this market are Rosgosstrakh, RESO-Garantia, ROSNO and Spassky Gates - Fig. 2.1.3

The ranking is based on the marketing research data of the TOP-EXPERT agency, including the criterion - the volume of insurance premiums for the study period (January-June 2009). The top three are: Ingosstrakh with a premium of 23 billion rubles; SOGAZ - 22.5; RESO - 15.2 billion. For the most part, the first places are occupied by companies that are actively working in the segment of the retail insurance products market, the main customers of which are individuals. But the exception is the SOGAZ group, which specializes exclusively in insuring large clients in the oil and gas and energy industries.

1.3. The role of marketing activities in the insurance business

In modern conditions in our country, the number of accidents and disasters is increasing every year due to increased wear and tear and operational violations. technical objects, the lack of necessary measures to prevent them, the lack of effective systems to combat negative consequences natural phenomena.

Protecting against the consequences of unforeseen events (accidents, catastrophes, natural Disasters etc.), insurance acts as a means of ensuring the continuity of social production, as a market one. compensation mechanism. Insurance companies also form reserves of preventive measures, through which work is financed to prevent insured events and reduce the degree of risk.

In addition, by concluding a contract with a client, the insurance company has at its disposal medium- and long-term financial resources that are invested in order to generate income. The insurer's investments must meet the requirements of diversification, repayment, profitability and liquidity. Insurers choose as investment objects, as a rule, those that give not speculative, but guaranteed income, and are not associated with increased risk (state and municipal securities, bank deposits and etc.). Thus, in the face of insurance companies, the country's economic system acquires a stable investor that provides a steady inflow of long-term investments.

In order to achieve a fuller use of the insurance institution to meet the needs National economy in insurance protection and investment resources, in order to increase the insurance coverage rate of potential objects, an effective system of interaction between insurance companies and customers is needed - insurance marketing. The subject of research in insurance marketing is the supply and demand of the insurance market.

The insurance market is a special sphere of relations that mediate the process of buying and selling a specific product - an insurance service. The specificity of the insurance service lies in the fact that it is both consumer and financial. Therefore, insurance marketing

Insurance belongs to the category of consumer goods and services due to the fact that its buyers (insured persons) are citizens and legal entities. who purchase this service for their own non-productive consumption. The purpose of insurance is to compensate for damage or unforeseen expenses as a result of the occurrence of insured events. The insured spends part of his income on the payment of insurance premiums, that is, he refuses other alternative ways of using it (acquisition of other goods and services, accumulation).

Insurance also applies to financial services, since in the process of its implementation there is a redistribution of financial resources. Clients' money temporarily at the disposal of the insurer in the form of insurance reserves is withdrawn to financial market How investment resources for the purpose of generating income. The client may be paid additional income - an insurance bonus (part of the insurer's profit). In developed countries, insurance as a financial service. successfully competes with other services (banking, pension funds etc.).

The purpose of insurance marketing is consumer service is to satisfy the client's need for insurance protection. The purpose of marketing insurance as a financial service is to optimize the movement of financial resources of insurers and policyholders, that is, in addition to the actual insurance activity, it also affects the financial one. In a narrow sense, insurance marketing is that part of marketing activities that is directly related to the sale of insurance projects.

A feature of the reproduction cycle in insurance is the fact that the sale of insurance services precedes its production. Between the payment of the cost of the service and the production of the service itself, there is always a time interval during which the received by the insurer cash accumulated in insurance reserves. First, the client, in exchange for the paid insurance premium, acquires insurance protection, but he will receive its material expression - insurance payment - only after the occurrence of an insured event.

The provision of insurance services is probabilistic in nature. The client of the insurer receives an insurance payment in the event that an event specified in the contract occurs, the occurrence of which is estimated by a certain probability. The client may not receive compensation at all (if the insured event has not occurred), however, the service is still considered to be provided, and the paid insurance premiums are not returned. The need for insurance in most cases is not recognized by the potential buyer of insurance services. In contrast to the needs for food, clothing, shelter, medical care, the labor force for enterprises, insurance is one of the last places in the hierarchy of needs. With a low level of solvency, the client does not want to spend money on insurance if his more important needs are not fully satisfied. As long as the insured event has not occurred, there is no need to compensate for damage from it. Therefore, insurers are forced to conduct campaigning and explanatory work , intelligibly explain to the client his need for compensation for unforeseen damage, and hence for insurance.In other words, the insurer solves the problem of transferring the client's needs for insurance from the category of unconscious to conscious.

This is achieved under a number of conditions:

First, the insurance company must have a well-established sales system, which is based on well-trained salespeople. The sellers of the insurance product can be both full-time employees of the company and insurance intermediaries.

Relations arising from the purchase and sale of an insurance product are based on the interaction between the insurance company (represented by its representative) and the insured, who conclude an insurance contract between themselves and assume the rights and obligations specified in it. In this case, the insurance company is the manufacturer of the insurance product, and the insured is the buyer. The end consumers of the insurance product can be both policyholders and insured persons and beneficiaries.

In modern conditions, the sale of insurance products directly by the insurance company to the insured (the so-called direct sales method) is not predominant. There is a link between producers and consumers of insurance services - insurance intermediaries. They can act both on behalf of and by. on behalf of the insurer (insurance agents), and on behalf of the policyholder ( insurance brokers). Both agents and brokers solve the same problem - to achieve a balance of interests of the insurer and the insured when concluding an insurance contract, taking into account their own economic interest- receiving a commission. The insurance agent acts as a market participant on the supply side, that is, the interests of the insurer are a priority for him. The insurance broker acts from the side of demand, the interests of the client are a priority for him.

Secondly, the client must be offered an insurance product that is legally competently developed and necessarily takes into account the needs of the client, as well as easily supplemented by related insurance products (for example, car insurance is supplemented by civil liability insurance of the car owner, travel insurance in case of sudden illness and accidents - luggage insurance etc.). The seller's efforts will be ineffective if the product is not attractive to the client, if he does not have a corresponding insurable interest.

Thirdly, to successfully attract customers, a positive image of the company is necessary. The information about the good financial condition of the company, the size of the authorized capital, the presence of large and well-known enterprises among the shareholders and clients of the company, the participation of the company in reinsurance operations is favorably perceived by the client. the number and qualifications of personnel, etc. The company’s information secrecy negatively affects the client’s decision on insurance (if the company refuses to provide the client with information that cannot be a trade secret of the insurer, such as balance sheet data, audit report, license, etc. ). Thus, insurance marketing includes activities related to the study of the needs of potential insurers, the study of the competitive environment, the development (based on the results of these studies) and the implementation of insurance products, as well as systems for their sale, the creation and operation of the necessary intermediary network and infrastructure.

From a legal point of view, the participation of potential policyholders in the conclusion of insurance contracts is limited only by their legal and legal capacity. Stimulates demand requirement for certain groups of insurers in without fail to insure certain risks prescribed by laws or other regulations(mandatory and "mandatory-voluntary" insurance).

From an economic point of view, demand is limited by the solvency of potential insurers. In conditions of low incomes of the population and a shortage of financial resources, the company's insurance costs are in one of the last places. Conversely, in a favorable economic environment, the share of insurance spending increases.

Demand can be divided into corporate and individual. Corporate is presented by enterprises, and individual - by individuals. The division is very conditional, since under the same contract, the insured (payer of contributions) is often a legal entity, and the insured or beneficiary (final recipient of the service) is an individual. In developed countries, most of the insurance contracts are concluded by individuals, in our country, on the contrary, most of the insurance products are aimed at corporate clients.

The study of consumer demand in insurance involves the use of such methods as a statistical study of the income and expenses of potential insurers (their size, structure, dynamics), surveys, testing and questioning, the collection and analysis of information obtained in the course of the work of insurance agents (the reasons for customers' refusals from offered services and wishes in the field of changing the conditions of insurance, the needs and insurance interests of the client, identified in the process of contact with the agent, etc.).

The image of the insurance industry as a whole is positively reflected in the regularly held annual exhibitions "Insurance", "insurance rendezvous", conferences, seminars, the release of insurance periodicals and insurance sections in general economic publications, the publication of specialized literature on insurance, etc.

The insurance demand factors are:

The number of potential policyholders and objects of insurance (demand is directly dependent on it);

income of potential policyholders (direct dependence);

· the cost of alternative risk management mechanisms, incl. self-insurance, risk transfer, etc. (inverse relationship);

· for long-term life insurance - prices for similar services of savings banks, non-state pension funds and other competitors of insurance companies (inverse relationship);

taxation of insurance premiums and payments ( preferential taxation stimulates demand)

· availability of requirements of laws, other normative acts, contracts (for example, lease) to insure a certain group of objects (direct dependence);

Inflationary expectations (decrease in demand);

· bank interest rate (direct relationship: the higher the cost of resources, the higher the attractiveness of insurance).

The study of supply in the insurance market (study of the competitive environment) is carried out in two main ways:

1) analysis of published statistical and analytical materials on the state of the market

2) use own sources information.

The first method is cheaper, the second allows you to get more complete and specific information in the right areas. The best research option is a combination of both methods.

The offer of insurance services is determined by insurers - legal entities that have received statutory order the right to carry out insurance activities. The volume and structure of the proposal is largely influenced by competition factors between insurers, the level of costs for doing insurance business and other factors. characterizing the situation in the insurance market of a particular country in a particular period of time.

As in other sectors of the economy, competition among insurers can be price (reducing insurance rates) and non-price (providing better insurance conditions). Price competition (reducing the cost of insurance services) is carried out at the expense of the tariff burden (that is, the insurer's expenses for doing business and taking measures to prevent insured events, as well as the insurer's profit rate laid down in the tariff). The net rate (part of insurance premiums that finance the payment of insurance claims) can serve as a source of tariff reduction only if the insurance company is very large, is in a favorable market position and can provide a better spatial and temporal distribution of damage among a large number of policyholders . Reducing the net rate (compared to the average market rate) by small companies for the purpose of dumping, capturing the market, etc. is unacceptable, since it may result in the insurer's inability to fulfill its obligations and its bankruptcy.

Non-price supply factors of the insurance market are:

the number of insurers (direct dependence);

average market rates of expenses for doing business and commission rates (inverse relationship)

structure and financial condition market (capacity of insurance and

· reinsurance markets, the state of insurance portfolios of companies.

· size own funds insurers, the level of concentration of capital)

unprofitability of types of insurance (inverse relationship), degree of risk inverse relationship), profitability and profitability of insurance operations (direct relationship)

taxation of insurance organizations;

return on investment for insurance companies

The study of demand in the insurance market requires the presence of a specialized marketing service in the structure of the insurance company, which evaluates the contingent of potential insurers and their needs for insurance services. If the demand for insurance services begins to fall, the management of the marketing service of the insurer must identify the causes of the fall and take appropriate measures to eliminate them. Insurer marketing includes the following main elements:

study of potential insurers;

Studying the motives of a potential client when concluding an insurance contract;

analysis of the actual market of the insurance company;

product research (type of insurance services);

· analysis of forms and channels for promotion of insurance services from the insurer to the potential client;

study of competitors, determination of forms and level of competition;

· determination of the most effective ways to promote insurance services from the insurer to the potential client.

The study of insurers. As part of this analysis, the structure of consumer preferences is determined, i.e. tastes and habits of people, their reactions to certain types of insurance services. The management of the insurance company must know who are the people who prefer to insure.

Studying the motives of a potential client when concluding an insurance contract. Main question to be answered - why policyholders prefer this species insurance. As part of the analysis of the motives of the behavior of policyholders, not only their tastes and habits are studied, but also the customs and inclinations of behavior (stereotype of thinking), which makes it possible to predict the behavior of certain social groups of policyholders for the future and conduct an adequate insurance policy.

By now Foreign experience shows a sufficient arsenal of means for studying the motive of the behavior of policyholders, their conscious and subconscious reactions to a specific insurance product. Foreign marketing practice in insurance uses a system of special tests, questionnaires, questionnaires that allow one to judge the motivation of policyholders in various social groups and, on this basis, maintain feedback on the “insurant-insurer” type. The correct use of data obtained from the study of the motives of the behavior of policyholders allows the management of the insurance company to adequately respond to the situation that is developing in the insurance market.

Market analysis of the insurance company. Typically, such an analysis is carried out for one or more similar types of insurance to determine the potential market capacity for certain insurance services. As part of the market analysis, the distribution by individual regions is given. As a result of the market analysis, the management of the insurance company should find out where (in which regions) it is most profitable to carry out certain types of insurance. The results of the analysis are closely linked to the level of effective demand of the population. Inattention to these issues may leave the insurer without a market, which in a free economic space is tantamount to bankruptcy.

Insurance product research. This study, on the one hand, shows the management of the insurance company what the policyholder wants to have in relation to the specific terms of the insurance contract, and on the other hand, how to provide potential customers with new insurance products, who to target advertising, explaining the content of the terms of the insurance contract. Western practice recommends adhering to the following rule: in all cases, the insurance contract must go where the potential insured is most waiting for it and therefore most likely to conclude it.

The most common mistake insurers make is their confidence (more precisely, self-confidence) that policyholders are just waiting to be made happy with new types of insurance. In many cases, this is far from the case. Very often, the insurer must prove (sometimes more than once and more than one year) to a potential insured the advantage of a newly developed type of insurance. When this circumstance is carefully taken into account and the insurer begins to make appropriate adjustments to the organization of advertising and informing policyholders about the merits of the types of insurance services offered, there is reason to count on a large financial success action being taken.

An analysis of the forms and channels for promoting insurance services from an insurer to a potential client includes the study of the functions and characteristics of the activities of the intermediaries of the insurer, the nature of the existing relationship with policyholders.

Studying competitors, determining the forms and level of competition. Here, first of all, it is necessary to establish the main competitors of this insurance company in the market, to identify their strengths and weak sides. Information is collected and systematized on various aspects of the activities of competing insurers: financial situation, insurance rates in a particular market, features of insurance business management. As a rule, the results of the study are recorded in special information dossiers.

AT practical work in analyzing the activities of insurance companies-competitors, the compilation of special analytical tables that characterize the offer of a particular insurance product by certain insurers is also used.

Taking into account the above elements of marketing, a general marketing strategy for an insurance company is developed.

The marketing service of the insurance company also carries out work on the segmentation of the insurance market. The organization of marketing in the insurance business can be carried out by type of insurance or by geographical area where the clientele is served. For this, a marketing information system is used. This is a permanent system of interrelations of people, equipment and methodological methods for collecting, classifying, analyzing, evaluating and disseminating relevant and reliable information for the optimal selection and implementation of marketing activities. The most effective marketing information system is created with the help of computers. The most promising direction is the creation of automated jobs with the help of personal computers, using various economic-mathematical and economic-statistical methods.

On the basis of the collected and processed information, a scientifically developed concept for analyzing and accounting for the requirements of insurers (both individuals and legal entities) is created. Usually, in practice, a marketing system is used such as "insurance product (terms of an insurance contract of this type) - stimulation of the conclusion of insurance contracts (including advertising) - insurance market". This system most suits the conditions when demand and supply for insurance services are in relative equilibrium or when supply slightly exceeds demand. A situation is created on the market in which the required types and conditions of insurance are constantly present in the form of an offer from insurers. The task of intermediaries and personnel of the insurer is to implement a number of measures in order to interest the insured and encourage him to conclude an insurance contract of a certain type in this insurance company, and not with competitors. The insurer's marketing information system is not closed, but logically connected and developing, as it were, in a spiral, i.e. with the repetition and continuity of its elements, their qualitatively new, more perfect level is assumed.

The practical marketing of an insurer is based on the following basic principles:

· in-depth study of the insurance market;

· segmentation of the insurance market (separation of sectors of personal and property insurance);

flexible response to insurers' questions;

· innovation (continuous improvement of modification, adaptation of insurance products to market requirements).

In the activities of foreign insurance companies, there are two main types of marketing: focused on the insurance product and focused on the insured, predetermined groups of potential customers. Each of these types is aimed at one of the two main components that ensure the flow of funds to the insurance fund - the insurance product or the potential insured.

An insurance company, in cooperation with insurance brokers and agents, has the opportunity to put into practice a number of ways to increase the competitiveness of insurance services and increase its share in the insurance market. One of the most common is the segmentation of the insurance market, i.e. allocation of a group of policyholders, insurance services or insurers with certain common features. For example, among policyholders, segmentation can be carried out according to geographical and demographic characteristics, income level, etc. Typically, the geographical segmentation of the insurance market is based on a regional basis (republic, region, region, city, district, prefecture). Demographic segmentation takes into account that the gender and age parameters of policyholders can be easily classified and quantification. The main variables in the demographic analysis are age, gender, family size, income level. These market segment parameters can be combined in some way to form combined parameters. If we take four age categories, three - by family size, and three more - by income level as simple variables for segmenting the insurance market according to demographics, then, by combining them in various ways, we can eventually identify 36 market segments. After analyzing additional information on them, one can assess the significance of each of these segments for the insurance company.

The demographic parameters of insurance market segmentation acquire the greatest value only in combination with each other. In Western practice, more and more attention has recently been paid to psychogeographical segmentation. Factors such as lifestyle, personal qualities of policyholders more accurately characterize the possible reaction of the insurer's clients to the offered insurance services.

Traditionally, in the Western practice of the insurance business, three methods are used to promote insurance services from the insurer to potential customers: extensive, exclusive and selective.

The meaning of the extensive method of promoting insurance services is to use any intermediaries of the insurance company that are able to draw up one or more insurance contracts of this type. The exclusive method of promoting insurance services is the interaction of the insurance company with one general insurance agent, who is granted the exclusive right to conclude insurance contracts on behalf of and on behalf of the insurance company in a given geographical area. A selective method of promoting insurance services is the interaction of an insurance company with two or more general insurance agents on behalf of and on behalf of an insurance company in a given geographical area.

As noted above, the need for insurance services is not among the most important, therefore, in insurance marketing, it is not only about studying, but also about creating demand. In order for disposable income to be distributed, among other areas, to insurance, a number of conditions are necessary, the most important of which, along with solvency, are the client's awareness of insurance, the level of economic thinking and insurance culture.

1.3. Regulatory framework of the insurance services market of the Russian Federation

To date, the Russian Federation has created a mechanism for registering insurance companies, licensing insurance operations and control by insurance supervision. It is designed to ensure that in the competitive struggle, insurance organizations do not cross the line when the interests of policyholders may suffer. It is unacceptable to reduce the tariff to a level at which the financial stability of the insurer decreases; in investing, preference is given to although not the most profitable, but reliable objects.

A combination of competition and state regulation of the insurance business is also necessary to stimulate its development in areas where there is no hope for significant profit (crop insurance, environmental risks, etc.).

The activities of insurance organizations and the basic concepts of insurance are determined by the Law of the Russian Federation of November 27, 1992 No. 4015-1, as amended federal law of the Russian Federation dated 10.12.2003 No. 172-FZ "On the organization of insurance business in the Russian Federation" (with subsequent amendments and additions) and other documents.

Chapter 48 of the second part is devoted to insurance. Civil Code Russian Federation. The activities of insurance organizations are subject to mandatory audit. Associations of insurers acquire the rights of legal entities after state registration in the Department of the Ministry of Finance of Russia for the supervision of insurance activities.

As mentioned above, insurance activities in the Russian Federation are subject to licensing. The conditions for licensing insurance activities in the territory of the Russian Federation were approved by the order of Rosstrakhnadzor dated May 19, 1994 No. 02-02/08. Licensing of insurance operations of insurers operating in the territory of the Russian Federation is mandatory and is carried out by the Department of Insurance Supervision of the Ministry of Finance of the Russian Federation. The Department of Insurance Supervision of the Ministry of Finance of the Russian Federation is also entrusted with the development of relevant methodological and normative documents, summarizing the practice of applying insurance legislation, developing proposals for its application, protecting the interests of policyholders in the event of bankruptcy of insurance companies or their liquidation for other reasons.

Licensing is subject to the activities of insurance organizations and mutual insurance companies (insurers) associated with the formation of special cash funds(insurance reserves) required for future insurance payments. Activities related to the assessment of insurance risks, determining the amount of damage, the amount of insurance payments, other consulting and research activities in the field of insurance do not require a license in accordance with the terms of licensing.

To obtain a license, an insurer that has passed registration must submit the following documents: a three-year development program for insurance operations, including the types and volumes of planned operations, maximum liability for individual risk, conditions for organizing reinsurance protection; rules or conditions of insurance by types of operations; certificates from banks or other institutions confirming the availability of an authorized fund, reserve or similar funds; statistical substantiation of the applied system of tariffs, rates and reserves.

The Insurance Supervision Department is obliged to issue a license within 60 days from the date of receipt of all required documents or, in case of refusal to issue a license, inform the insurance company about the reasons for refusal within the same period.

In case of failure financial stability insurance operations The Insurance Supervision Department may require an insurance organization to increase the amount of their funds in rubles and foreign currency, depending on the types, volume and currency of insurance operations. When making decisions on refusal, suspension and annulment of licenses, the Department is guided by the conclusion of the expert commission with the obligatory involvement of the licensed organization. A special fee is charged from the insurer for issuing a license.

If insurance organization does not comply with the issued instructions and does not eliminate the violations revealed by inspections, the Insurance Supervision Department has the right to temporarily suspend the validity of the issued licenses, restrict their validity, cancel the licenses or take a decision on the complete termination of the activities of the insurance company. State supervision of insurance activities is carried out in order to comply with the requirements of the legislation of the Russian Federation on insurance, the effective development of insurance services, the protection of the rights and interests of policyholders, insurers, and others. stakeholders and states. Insurance supervision should be carried out on the principles of legality, publicity and organizational unity.

The main functions of the federal executive body for supervision of insurance activities are:

· Issuance of licenses to insurers to carry out insurance activities;

· maintenance of the unified State register of insurers and associations of insurers, as well as the register of insurance brokers;

· control over the reasonableness of insurance tariffs and ensuring the solvency of insurers;

· Establishment of rules for the formation and placement of insurance reserves, indicators and forms of accounting for insurance operations and reporting on insurance activities;

· development of normative and methodological documents on the issues of insurance activities, referred by law to the competence of the federal executive body for supervision of insurance activities;

generalization of the practice of insurance activities, development and presentation in in due course proposals for the development and improvement of the legislation of the Russian Federation on insurance.

The federal executive body for supervision of insurance activities shall have the right to:

receive from insurers the established reporting on insurance activities, information about their financial position,

· receive the information necessary for the performance of the functions assigned to it from enterprises, institutions and organizations, including banks, as well as from citizens;

· carry out inspections of compliance by insurers with the legislation of the Russian Federation on insurance and the reliability of the reports submitted by them;

· if violations of the requirements of the law by insurers are revealed, give them instructions to eliminate them, and in case of failure to comply with the instructions, suspend or restrict the licenses of these insurers until the identified violations are eliminated or make decisions to revoke licenses;

· apply to arbitration court with a claim for the liquidation of the insurer in the event of repeated violations by the latter of the legislation of the Russian Federation, as well as for the liquidation of enterprises and organizations that carry out insurance without licenses.

Prevention, restriction and suppression of monopolistic activity and unfair competition in the insurance market is provided State Committee of the Russian Federation on antimonopoly policy and support of new economic structures in accordance with the antimonopoly legislation of the Russian Federation.

Prospects for the development of the insurance market in the Russian Federation are set out in the Concept for the Development of Insurance in the Russian Federation, which was approved by Decree of the Government of the Russian Federation No. 1361-r dated September 25, 2002. This Concept is aimed at creating an effective system of insurance protection property interests citizens and legal entities in the Russian Federation.

According to this concept, the main tasks for the development of the insurance business are:

formation legislative framework insurance services market;

development of mandatory and voluntary types insurance;

· Creation of an effective mechanism of state regulation and supervision of insurance activities;

· stimulating the conversion of the population's savings into long-term investments using long-term life insurance mechanisms;

· Gradual integration of the national insurance system with the international insurance market.

According to the Concept, “problems of development of the insurance market should become the object of attention of the authorities exercising control over insurance activities in the insurance services market and antimonopoly regulation.

For the effective functioning of the insurance services market, it is necessary to create equal conditions for the implementation of activities by all insurance organizations on the territory of the Russian Federation. For these purposes, it is necessary to ensure:

· Strengthening control over the actions of state authorities at all levels, limiting competition in the insurance services market;

development of a system for conducting open competitions insurance organizations involved in the implementation of insurance at the expense of budgetary funds;

· monitoring the activities of insurance companies that occupy a dominant position and prevent other insurance companies from entering the market;

· state control for the concentration of capital in the market of insurance services;

· improving the forms of statistical accounting and reporting of insurance organizations, including for the purpose of analyzing the competitive environment in the federal and regional insurance services markets and determining the dominant position of insurance organizations in such markets.

An important condition for competition in the financial services markets should be the exclusion state participation in the authorized capital of insurers.

Chapter 2. Analysis of the activities of the insurance organizations.

2.1. Comprehensive economic analysis of the activities of the insurance company "RESO-Garantiya"

2.1.1. Information about the company

Open insurance joint-stock company"RESO-Garantia" was founded in 1991. This is a universal insurance company with a license for 102 types of insurance services (licenses of the Federal Insurance Supervision Service C No. 1209 77, P No. 1209 77).

Authorized capital RUB 3,100,000,000

RESO-Garantia is an agency company with more than 19 thousand agents. The branch network is one of the largest in Russia and includes more than 900 branches and sales offices in all regions of Russia. Products and services of RESO-Garantia are used by about 5 million clients - organizations and individuals.

RESO-Garantia's partners in reinsurance programs are Hannover Re, SCOR, Munich Re, Swiss Re, Lloyd's syndicates.

In 2007, RESO-Garantia was recognized as the winner of the nationwide competition "People's Brand/Brand No. 1 in Russia". In the same year, the company was assigned an individual reliability rating by the NRA: "ААА" - the highest level of reliability". In November 2008, RESO-Garantia entered the top 40 of the "The Best Russian Brands 2008" list.

RESO-Garantia is a laureate of the main insurance premium of the country "Golden Salamander", having received a prize in the most honorable nomination - "Company of the Year".

The development of the company over 16 years has led to the creation of a wide network consisting of more than 800 representative offices (branches, agencies and points of sale) located in all regions of the Russian Federation, 94 branches operate in Moscow and the Moscow region, 85 branches in other regions and carry out more 100 types of insurance activities.
The main activity of the issuer is insurance activity, including all types of voluntary insurance - 89.76% of total income, as well as investment activity - 10.24%.
The main insurance sales market for the issuer in previous years was the Moscow and northwestern regions. With the advent compulsory insurance civil liability of car owners received a powerful impetus for the development of a regional network of branches, expansion into the insurance market in all regions of the Russian Federation accelerated. This makes it possible to provide clients in all regions with reliable and modern insurance and maintenance services.
The main competitive conditions for the issuer's activity are an increase in insurance volumes by attracting an agent network and developing regional insurance markets, expanding the range of services offered, coupled with a more thorough collection of information about customer needs for analysis and forecasting purposes.
The issuer's prospective competitors are insurance companies that, along with the issuer, are among the leaders in Russia in terms of the number of collected insurance premiums (Rosgosstrakh, Ingosstrakh, SOGAZ). At present, the issuer's competitors in the main types of insurance are: in property insurance - Ingosstrakh, SOGAZ, in personal insurance: insurance companies SOGAZ, Rosgosstrakh.

Over the past year, the company concluded almost 5 million insurance contracts. More than 68% of insurance premiums were brought to the company by individual clients thanks to the RESO agency network, one of the largest and most effective selling structures in Russia.

In total, according to the results of 2008, RESO-Garantia collected 30 billion 382 million rubles of insurance premium, payments for insured events amounted to 15 billion 723 million rubles. The company concluded 4 million 935 thousand contracts for a total insured amount of more than 8 trillion. rubles.

Auto insurance remains the main activity of the company, including CASCO, OSAGO and voluntary third party liability insurance (DGO). Fees for these types amounted to 21 billion 683 million rubles, and payments - 12 billion 183 million rubles.

Thus, more than 312,000 contracts have been concluded for car insurance against theft and damage (CASCO), the fees for which amounted to 14 billion 565 million rubles. 8 billion 354 million rubles were paid for insured events.

Most of the CASCO portfolio - 11 billion 838 million rubles in fees and 7 billion 133 million rubles in payments - falls on contracts with individuals.

2,40,000 insurance contracts have been concluded under OSAGO, in which the company ranks second in the country. RESO-Garantiya increased its share in the Russian OSAGO portfolio to 8.5%. 6 billion 802 million rubles of premiums were collected, this is a record figure for the company for the entire existence of OSAGO. 3 billion 761 million rubles were paid for insured events. Including on the policies of individuals, fees amounted to 5 billion 724 million rubles, payments - 3 billion 112 million rubles.

In 2008, RESO-Garantiya collected 4 billion 52 million rubles of insurance premium for property insurance (excluding car hull insurance), paying out almost 634 million rubles. Thus, more than 69,000 apartment insurance contracts were concluded during the year. The total fees amounted to 930 million rubles, payments - 81 million rubles. 104,000 insurance contracts were concluded for the insurance of dachas and private houses, 604 million rubles were collected, and 126 million rubles were paid out to customers in case of insured events. 63,000 insurance contracts have been concluded for home property insurance of citizens. Fees on them amounted to 122 million rubles, payments - almost 13 million rubles. 48.7 thousand contracts were concluded for property insurance of legal entities (excluding car hull insurance), fees amounted to 2 billion 390 million rubles, payments - 410 million rubles. For personal insurance, RESO-Garantiya concluded almost 1 million 890 thousand contracts, collecting 4 billion 553 million rubles of insurance premium. 2 billion 840 million rubles were paid for insured events. The main fees for this type of insurance services fall on voluntary medical insurance (VHI). In January-December 2008, it collected 3 billion 780 million rubles, payments to medical institutions for this period amounted to 2 billion 604 million rubles. For insurance of expenses of citizens traveling abroad, 1 million 713 thousand insurance contracts were concluded, 325.2 million rubles of premium were collected, 145.8 million rubles were paid. For voluntary liability insurance (including DGO), 407 thousand insurance contracts were concluded during this period, the fees for which amounted to 406.5 million rubles, and 133.7 million rubles were paid out.

Another important area of ​​the company's work is cargo insurance. Last year, more than 23.6 thousand contracts were concluded, 339.4 million rubles of bonuses were collected, payments amounted to 29 million rubles.

RESO-Garantia uses the services of world famous reinsurance companies: Munich Re, SCOR, Hannover Re, GEFrankona, Kiln Group, Partner Re, Europe Re, Korean Re. RESO-Garantia is a member of the All-Russian Union of Insurers and the Moscow Association of Insurers. RESO-Garantia is a member of the Russian Union of Motor Insurers (RSA). The company is a member of the National Green Card Bureau. RESO-Garantia became one of the founders of the National Union of Insurers of Hazardous Objects.

RESO-Garantia is a member of the Russian Pool for the Insurance of Hydraulic Structures, the Interregional Association of Insurers for the Protection of Territories and Population of the Subjects of the Russian Federation from emergencies natural and man-made character. The company is accredited by the Agency for Mortgage housing loans(AHML).

The company participates in pools:

on insurance of civil liability of enterprises - sources of increased danger

Shipowners' civil liability insurance (P&I insurance)

· in the Russian pool for insurance of risks associated with terrorist attacks.

RESO-Garantia is a member of the Moscow Chamber of Commerce and Industry, is accredited by the Moscow Licensing Chamber for Insurance of Realtors, is an associate member of the Association of Russian Automobile Dealers (ROAD) and a member of the Moscow Association of Enterprises Maintenance and repair of motor vehicles (MAPTO).

RESO-Garantia is a member of the Russian Union of Travel Industry (PCT) and the Moscow Association of Travel Agencies (MATA). The company is a member of the Russian Corporate Club of the World Wildlife Fund (WWF).

2.2. Organizational structure of RESO-Garantia.

The supreme governing body of the company is the General Meeting of Shareholders. In the period between meetings, the general management of the company is carried out by the Board of Directors of RESO-Garantia. He performs the most important management functions: determines the company's development strategy, sets strategic goals for the executive management and controls their implementation, appoints key managers, and improves corporate governance.

The Committees act as expert bodies of the Board of Directors - the Audit Committee, the Remuneration Committee and the Investment Committee,

formed at the beginning of 2007 which carry out a preliminary review of the most important issues of the company's activities and

provide advice to the Council. The active work of the Committees reflects the desire of RESO-Garantia to constantly improve the standards and procedures of corporate governance, is an effective tool for communication and interaction between the Board of Directors and the company's management.

In accordance with generally accepted global corporate governance standards, the Board of Directors includes independent directors who are highly qualified specialists and have high authority in the professional community. In accordance with world practice, independent members of the Board of Directors are not related to the company's activities, their task is to protect the interests of shareholders, making professional judgments on key issues of the company's development. Independent directors head Committees of the Board of Directors, which gives additional guarantee to shareholders in protecting their interests when making strategic decisions. One of the key principles of RESO-Garantia's corporate governance is openness and transparency of the company's internal procedures and processes for shareholders, business partners, state regulatory bodies and personnel. The Company regularly informs stakeholders about all aspects of its activities. RESO-Garantia strictly complies with the requirements of the legislation on the publication of information subject to mandatory disclosure. The Company promptly responds to media requests, regularly holds press conferences and other open events, the purpose of which is not only to inform all stakeholders as widely as possible about its work, but also to receive regular feedback in order to further improve the corporate governance structure. The Board of Directors evaluates long-term programs and plans developed by the company's divisions, analyzes the investment and financial strategy of the company as a whole, develops recommendations on relations with shareholders and investors, and also gives a preliminary assessment of all major transactions concluded by the company. The main goal of the Board of Directors is to promote the efficiency of RESO-Garantia in the long term. Top management of the company regularly communicates with employees of all back office divisions, visits at least 10-15 branches in the regions during the year. The heads of all branches also regularly visit the central office. An important additional information channel is the corporate media "RESO Magazine" and "RESO Newspaper", published with a total circulation of 25,000 - 30,000 copies. Corporate publications give everyone the opportunity to get all the information about what is happening in the company first hand.

Organizational structure RESO-Guarantee ».

Fig2.2.1. Management structure of RESO-Garantia.

The most widespread in the world is the organizational structure for management "Leadership in accordance with cooperation", based on such principles as:

1. Decisions in an insurance company are not made unilaterally, that is, from above, by management alone;

2. Employees of the insurance company are not only guided by the orders of their superiors, but also have their own areas of activity in accordance with their powers and competencies;

3. Responsibility is not concentrated at the top level of management of the organization, it is part of the competence of other employees in the areas of activity.

4. A higher authority in the organizational structure of an insurance company has the right to make those decisions that lower authorities are not entitled to take;

5. The leading principle of the management structure is the delegation of authority and responsibility from top to bottom. This means that each employee is given a certain area of ​​activity, within which he is obliged to act and make decisions independently, as well as be responsible for decisions taken. With such an organizational management structure, each employee, regardless of the level at which he works, is only responsible for what he did or did not do within his authority. The boss is responsible for the mistakes of an employee only in those cases when he did not fulfill his duties as a leader, that is, if he did not carefully select the employees, did not conduct appropriate briefing with the employees, and did not control the actions of his employees. A clear division of responsibility - for leadership and for action - is an important factor in determining who is responsible for errors. Analysis of the activities of employees at all levels is an account of the intellectual potential of the insurance company.

2.3 Financial performance of the company

The financial information presented in this section is taken from the official website of OSAO RESO-Garantia - www.reso.ru and reflects the company's real financial performance.

In 2008, RESO-Garantia collected 30 billion 382 million rubles. for all types of insurance, in connection with the crisis, slightly lowering the level of fees for 2007 - 31 billion 575 million rubles. The total amount of insurance payments in 2008 amounted to 15 billion 723 million rubles, which is higher than in 2007 - 11 billion 725 million rubles. The total collection of premiums and payments is shown in Fig. 2.3.1.

Figure 2.3.1 Total collection of premiums and total payments, million rubles

Figure 2.3.2 shows an analysis of the volume of collected insurance premiums by types of insurance, payments made by the issuer of the sum insured and/or insurance indemnity for the period 2003-2008.

Rice. 2.3.2. Analysis of the volume of premiums by type of insurance

The lion's share of fees and premiums is provided by property insurance of compulsory civil liability, life insurance is gradually falling in the total volume of insurance premiums. Vehicle owner liability insurance is increasing every year. In Fig.2.3.3. we see the results of financial and economic activity.

Fig.2.3.3. The results of financial-hoz. activities

Fig.2.3.4. Percentage

Fig.2.3.4. shows the percentage of financial indicators for 2008-2009.

Economic analysis of profitability/loss ratio, based on the dynamics of the above indicators, discloses information about the reasons that led to losses/profits reflected in financial statements as of the end of the reporting quarter compared to the same period of the previous period. The share of individual types of insurance in the total portfolio of insurance services did not change much, with the exception of life insurance. This is mainly due to the fact that, in accordance with the Law "On the organization of insurance business in Russia" from 01.01.2007, a strict specialization of insurance organizations is introduced. Continues to hold the largest share attributable to property types insurance and compulsory insurance of car owners of vehicles.
Increasing competition among large companies leads to the creation of new insurance products, stimulates the main market participants to reduce costs and improve the quality of management. When carrying out insurance activities, the main cost item is the payment of insurance compensation. Since a significant part of the portfolio is concentrated in the segment of automobile and voluntary medical insurance, the growth of insurance indemnity payments is subject, in particular, to the factor of price inflation for car repair work and services of medical institutions. The increase in the cost of these works and services is taken into account in the tariff policy. The total volume of insurance payments for the nine months of 2009 amounted to 13,86,0588 thousand rubles, which is more than the level of the previous year by 2,970,872 thousand rubles. The largest share in the total volume of insurance payments falls on property insurance and compulsory insurance. To overcome the main factors that negatively affect the activities of the Company, the following methods are used to evaluate statistical data, reinsurance, restrictions on the amount and number of insurance contracts concluded, procedures for approving transactions, pricing strategies and constant monitoring of the emergence of new risks.
In pursuance of the Reinsurance Strategy, facultative reinsurance and excess of loss reinsurance are used in order to reduce insurance premiums under each contract. The Issuer constantly monitors the financial stability of reinsurers and periodically updates its reinsurance agreements. Takes appropriate measures to ensure that seasonal increases in the level of payments (for example, payments for different types contracts relating to insurance of vehicles and liability to third parties in connection with the onset of the winter months with their difficult weather conditions) did not cause significant damage.

Table 2.3.1. Liquidity, capital adequacy and working capital, thousand roubles

Economic analysis of liquidity and solvency of the issuer based on economic analysis dynamics of the given indicators.
The current liquidity ratio shows the extent to which current assets cover current liabilities and gives an overall assessment of liquidity. In other words, it shows how many rubles of working capital (current assets) account for one ruble of current short-term debt ( current liabilities).
Excess of current assets over short-term financial obligations provides a reserve stock to compensate for losses that an enterprise may incur during the placement and liquidation of all current assets, except for cash. The greater the value of this reserve, the greater the confidence of creditors that the debts will be repaid. Satisfies usually coefficient>2.
In its semantic meaning, the quick liquidity indicator is similar to the current liquidity ratio, however, it is calculated for a narrower range of current assets, when productive reserves as a less liquid part of current assets. A ratio of 0.6-1 usually satisfies. However, it may not be sufficient if a large proportion of liquidity is accounts receivable part of which is difficult to recover in a timely manner. In such cases, a larger ratio is required. If a significant share of current assets is occupied by cash and cash equivalents (securities), then this ratio may be smaller.
Correspondence of the coefficients of current and quick liquidity indicates the predominance of liquid assets in the composition of the issuer's working capital, which indicates the ability of the issuer to cover its obligations in a short time.
Fluctuations in liquidity ratios due to a significant change in the volume of current assets.
The dynamics of the given indicators of liquidity and solvency indicates the ability of the issuer to fulfill Short-term liabilities and cover ongoing operating expenses.

Based on the results of 2008, it can be noted that the insurance market grew by 17% compared to the same period in 2007 (Fig. 2.3.5.). But it should be noted that the first quarter is traditionally a period of renegotiation of large insurance contracts, so the performance and position of captive companies in the 4th quarter is traditionally higher than that of market insurers. According to "RBC-rating" in the first half of the current 2009, the top three groups of companies in descending order (excluding compulsory medical insurance) included: the system of "Rosgosstrakh" (23479.60 million rubles), SG "SOGAZ" (22 505.87 million rubles ) and the RESO group (15229.40 million rubles).

The Federal Insurance Supervision Service (FSSN) has announced details of the results of insurance companies' activities for the first six months of 2009. Earlier, the insurance supervision released general data on the insurance market. According to the FSIS, in the first half of the year, insurers' receipts without compulsory medical insurance (OMI) decreased by 8% and amounted to 271.76 billion rubles, while payments increased by 19%, to 135.27 billion rubles. Although several leading insurers have reported acquisitions of insurance assets this year, they, like most major insurers, are growing claims (excluding CHI) outpacing revenue growth.

2.4. Profit analysis of an insurance company

To analyze the profit of an insurance company, information for calculation ( balance sheet and profit and loss statement) is taken from the official website of RESO-Garantia. In terms of the number of clients, the company showed a good increase - if in the first half of 2008 RESO-Garantiya concluded 2 million 110 thousand insurance contracts with individuals and legal entities, now there are almost 1.6 million more - 3 million 720 thousand

Reformed income statement of RESO-Garantiya for 2008 and 2009 (thousand roubles.).

Table 2.4.1 Transformed income statement

As you can see, the received insurance premiums decreased by 2965 thousand rubles. rubles. This happened under the influence of the following factors: financial crisis, the average amount of payments under one contract decreased.

As follows from Fig. 2.3.2, the restructuring of the insurance portfolio took place in the direction of increasing property insurance contracts and motor third party liability. Balance sheet profit increased by almost 100%, this shows efficient work"RESO-Guarantee". The profit of the insurance company depends on a number of factors presented in Table. 2.4.2: total income; income structures (insurance payments, income from financial investments, receipts from reserves, other income); amounts of insurance services; deductions to reserve funds.

Data for Profit Analysis

As can be seen, the total amount of insurance services provided decreased in 2009 compared to 2008 by 2,555,652 thousand rubles. rubles or by 12.28%. Despite the financial crisis, revenues have a slight tendency to increase, profitability of 1.28%. The most generalized assessment of the effectiveness of the financial and economic activities of the enterprise is given by the system of profitability ratios. The profitability indicator shows how much profit is in the assets of the enterprise or how many kopecks of profit are received from each ruble. It should be noted that expenses decreased by 13.28% At the same time, profits almost doubled.

2.5. Analysis of the main factors for increasing the competitiveness of "RESO-Garantiya"

The main existing and prospective competitors of the issuer in the main types of activities, including competitors abroad. The main competitors in the retail segment are Open Joint Stock Company Russian State Insurance Company (Rossgostrakh), Open Joint Stock Insurance Company Ingosstrakh and Open Joint Stock Company Russian Insurance People's Company ROSNO.

List of competitiveness factors with a description of the degree of their influence on the competitiveness of products (works, services):

1. A wide sales network, including branches and agencies in all regions of Russia and a network of more than 18,000 agents. The issuer's sales network is the second largest after Rosgostrakh's network and is significantly ahead of its competitors' network.

2. Modern system information technologies, which allows you to track the change in the margin for each product in a timely manner and take measures to increase it.

3. Highly professional staff with significant experience in insurance.

4. A cost control and budgeting system that allows you to plan activities.

Of fundamental importance for the competitiveness of the company in the market is the ratio of price and quality of the insurance product. Quality is a complex property that includes the demand for risk, technical components - the breadth and completeness of insurance coverage, its compliance with the dangers that the client wants to protect against, as well as the quality of service. An indicator of consumer satisfaction with the "price-quality" ratio of an insurance product is the client's consent to purchase a policy. If the policyholder believes that the quality of the service offered to him is worth the requested money, then the price-quality ratio is considered favorable and he is likely to buy the policy. Therefore, the task of RESO-Garantia OSJSC is to achieve the highest assessment of this ratio. Competition in the modern insurance market leads to the fact that leading companies offer products that are more and more similar in quality and range of services provided, so that the difference between them is gradually blurred. The most important factor the reliability of the insurer is the evaluation of the quality of the product. The price of the insurance product is a sufficiently objective indicator: it is based on the real insured event and forecast of losses, as well as the actual costs of the insurer for doing business. Its reduction can be achieved by:

Narrowing of the insurance coverage (narrowing of the list of covered risks and corresponding sums insured);

liquidation additional services included in the insurance product and reduce the quality of service;

aggressive investment policy, aimed at covering the difference between the premium received and the actual costs at the expense of income from the investment of reserves.

By building a "pyramid" - covering losses under unprofitable contracts through new sales.

The first two methods of price compression do not lead to a decrease in the reliability of the company. Risky investments are already a potential threat to the stability of the insurer, and pyramid schemes are almost a complete guarantee of its bankruptcy in the foreseeable future. Therefore, when analyzing the ratio of price and quality of the insurer's services, it is necessary to take into account only the first two possibilities.

In economically developed countries, it is generally accepted that a change in the cost of insurance by 10% leads to the loss or acquisition of 30% of the company's clientele. The ratio of changes in the number of customers of the company and the price is called the elasticity of consumption in relation to price (or simply price). Marketing also uses, for example, the elasticity of consumption for the quality of an insurance product. The greater the change in the number of customers with a change in price or other factor, the higher the elasticity of consumption. If the ratio of change in demand to change in price is less than 1, then demand is inelastic, more than 1 - elastic. If it is equal to 1, then the demand is called unitary. In general, the elasticity of consumption - the interdependence of the number of sales of insurance products and their prices - is very complex. It can be studied in three ways: with the help of customer surveys, by the method of expert assessments made by specialists and sellers of insurance products, by analyzing statistical data on sales of insurance products depending on changes in the price level.

If you give data on the mutual influence of the price and sales of auto insurance OSAO "RESO - Garantiya", which are based on the results of a relevant survey of consumers. The study asked policyholders the following question: Would you leave your current company if it raises prices by X%? Changes in sales are shown in Figure 2.5.1.

Fig.2.5.1. Change in sales

The figure shows that the dependence of sales on the price of insurance products in the range of 0.8-1.2 from its average value in the first approximation has a parabolic character. It is important to note that increasing or decreasing the price by a few percent (up to 4%) does not lead to a significant change in the number of sales. In this regard, the range of price changes in the range of 0.96-1.04 can be called the zone of consumer insensitivity to changes in the cost of insurance products - the inelasticity of demand for price. In this zone, the insurer can maneuver prices without fear of losing clientele. The fact is that a significant part of consumers do not consider it essential for themselves to exceed prices by 1-4% - the consumer assessment of the premium, when it changes within these limits, is practically constant. Here we can apply an analogy from Everyday life: in the pocket of each person there is a trifle that is easy to donate - a negligible amount. The increase or decrease in funds by this amount is not noticeable and a large proportion of the population will not make an effort to earn it. Similarly, in insurance: a slight change in the cost of the policy is not significant for the consumer and cannot compensate for the material and moral costs associated with the transition to another company.

Another important phenomenon of particular interest for the management of the quality of insurance products is the behavior of the dependence of sales on price in the area of ​​change in value of more than 1.2 of the average market value. Here, the nature of the dependence deviates from parabolic, which is explained by different sensitivity to price. About 4% of policyholders are highly sensitive to the cost of services and easily change companies in search of cheaper offers of the same quality. In the "price-quality" ratio, they focus on the cost of the service. 65-70% of the total number of consumers belong to the medium category of sensitivity, which corresponds to a more or less equilibrium assessment of the significance of the price and quality of the product. The remaining 30-35% of policyholders can be classified as less sensitive to price and more sensitive to other (non-price) qualities of insurance services.

The dependence shown in fig. 2.5.2., built for the clientele of OSAO "RESO - Garantiya". This is how the dependence of the change in the number of sales of auto insurance, corporate medical insurance (health insurance for employees of enterprises), as well as real estate of individuals on the level of the price of the product looks like. On Fig. 8 we see the dependence of changes in sales of insurance products "RESO-Garantia" .

Fig.2.5.2. Sales dependency

Fig.2.5.3. Sales dependency

A comparison of the graphs shows that the most elastic is the demand for auto insurance. The change in the income of the insurer OSAO "RESOGarantia" depending on the cost of the policy is shown in Figure 2.5.4.

Fig.2.5.4. Posting dependency graphs

The dependence of the change in the number of sales on the cost of the insurance product is rather conditional. The dependence of the change in the number of sales on the cost of the insurance product is rather conditional. Firstly, the price level for the same type of services differs depending on the sales system used in the company - an insurer selling auto insurance through agents or brokers must pay them a commission, which inevitably increases the cost of the insurance product. On the other hand, a company that sells its products directly can save on intermediaries. However, the clientele of direct and indirect sales is not the same: if the agency and brokerage systems mainly focus on passive consumers, the second - on active policyholders who independently choose an insurance company and its product. The latter, as a rule, are highly sensitive to the price of the service. Therefore, an insured who purchases a policy through an agent will not become a client of a direct selling company and vice versa. Because of this, the level of prices for the services of these insurers is incomparable.

Another factor that makes conditional the dependence of sales on the price of the insurance product is that sales growth can be determined by the non-price component. market policy insurer. For example, a company that wants to expand its clientele, in addition to lowering the price, invests in advertising, increases agency fees, and expands its territorial presence. In this case, it is rather difficult to isolate the contribution of the price reduction to the overall increase in the number of customers. In addition, the price elasticity of demand is not the same for consumers who are already customers of the company and for those who are just looking for an insurer. The second category of policyholders, which is in the process of selection, naturally pays more attention to the cost of the policy, while the first group, when renegotiating the contract, is less inclined to be interested in conditions in other companies and is more sensitive to the quality of the product. In addition, the established personal relationship with the representative of the insurer, which is often not easy to break, is of great importance for them. Clients are also getting used to the insurance infrastructure - a polyclinic in the case of health insurance or a service station. car insurance services. Therefore, the insured persons are a less mobile clientele and, accordingly, less sensitive to the price of the insurance product.

As shown by the analysis of the activities of insurance organizations, a significant impact on the development of the insurance market in 2004-2009. provided by the following industries:

car liability insurance,

insurance other than life insurance,

· compulsory insurance.

The general main indicators of the entire insurance market include the following two indicators:

1. insurance premiums (insurance premiums) - they reflect the amount of risk liability transferred by insurers to insurers;

2. insurance payments - they reflect the amount of obligations fulfilled by insurers to policyholders to compensate for damage, i.e. insurance payment obligations.

Based on the dynamics of insurance premiums and insurance payments for 2004-2009. we can say the following. There is an increase in the insurance market in 2008, which is explained, first of all, by changes in the insurance and tax legislation, which reduces the possibility of realizing pseudo-insurance and pseudo-reinsurance.

The terms "pseudo-insurance" and "pseudo-reinsurance" refer to the use of insurance and reinsurance for income withdrawal schemes.

Among the most important tasks for the development of the Russian insurance market are the following:

· increasing the competitiveness of the Russian insurance market in the global insurance market;

· increasing the level of capitalization of insurance companies;

· increasing the investment attractiveness of Russian insurance companies;

Improving the quality of insurance services;

· development of classic types of long-term and accumulative personal insurance;

· improvement of legal and organizational bases of compulsory insurance;

· Creation and development of modern infrastructure of the insurance market;

creation of unified databases;

· Creation of a unified educational system, which implies not only the acquisition of basic fundamental knowledge and practical skills, but also the continuous improvement of the skills of insurance workers;

· Improving the taxation of income of individuals and legal entities, associated both with the activities of insurance organizations and with the insurance of individuals and legal entities;

raising the insurance culture of the population.

Chapter 3. Development of measures to increase the competitiveness of RESO-Garantia services

Goal Tree

Scheme 3.1. Goal tree.

3.1 Event - 1 expansion (opening of new mini-offices)

1. Registration of a retail outlet - the presence of a large RESO flag (on the green field is the RESO brand name and abbreviation), stands with information about all types of insurance services. A store is specially created for the organization of sales of insurance products, therefore all the details of its design and organization of the process of working with clients are aimed at achieving one single goal - increasing the sales of insurance services, while our company's communications at the point of sale fit into the overall communication strategy of the company - and this is a system quality assurance, adequate pricing. The face of an insurance agency is always its shop window, its design should attract customers, force them to contact the agency for additional information, it should be up-to-date, correspond to the season, contain information about new insurance products. When a client contacts our agency, he is met with maximum cordiality and benevolence. Since the first minutes of being in the room decide whether the visitor will become an insured or leave forever. Thus, the face of the insurance company is the trained staff at the points of sale and insurance representatives, which our company pays great attention to. There is a RESO agent school, where not only agents, but also specialists are trained, teaching is conducted by top managers of the company with extensive practical experience.

A person can get detailed advice on any type of insurance here, take samples of documents and information on our offers home. And most importantly - to purchase a policy near the place of residence or work, without spending a lot of time. For many, this is much more convenient than calling the insurance company or getting to some big office. The format of racks we have chosen in the shops of regular visits allows us to emphasize that insurance is not only a necessary element of our life, but also quite affordable.” Here it will be possible to purchase OSAGO policies, voluntary “auto-citizenship”, insure an apartment and buy an accident insurance policy.

3.2 Activity - 2 Underwriting process in the Risk.Net system

Scheme of the complete insurance business- the process of multi-level underwriting, is shown in the figure for geographically dispersed objects of interaction:

Branch of IC (insurance company)

Branch of SC

Main office SC (CO)

On fig. 3.2.1. an algorithm for making a decision on actions with contracts is presented.

Fig.3.2.1. Decision algorithm

At the lowest link, the accounting of primary incoming documents is carried out:

insurance claims,

application for changing the conditions of insurance,

statement on insured event,

application for early termination.

Decision-making on each of the applications is carried out in accordance with the ranges of responsibility distributed between the links. If the conditions of the application fall within the range of responsibility of the link, then the decision is made without coordination with the senior link.

In case of exceeding the range of responsibility of a link, it is necessary to coordinate the decision with a link of a higher level (department -> branch -> CO).

At the conclusion of the contract, the terms of insurance are agreed. As a result of agreeing the conditions, an insurance contract is created.

When the insurance conditions change, new insurance conditions are agreed upon. As a result of coordination, a new version insurance contract (with the same contract number).

When settling claims, the amounts and terms of the settlement are agreed upon. As a result of coordination, an insurance act is created with a decision on payment (refusal to pay).

Creation of contracts, acts, etc. occurs at the same point where the corresponding application was received. This means that the information received by the senior link for approval is transferred (with changes and a decision) back to the source link, where the final document is formed.

Negotiation of terms can take place over several iterations (with the participation of the client, junior, middle and senior levels) until an agreement is reached and, accordingly, a final decision is made. Once a decision has been made, no changes can be made. It is only possible to generate and print the output document.

Advantages of the Risk.Net system in terms of contract underwriting:

Automated sales business process management

including underwriting

· Workplace of the underwriter with the ability to view documents for branches.

· Multi-level underwriting according to limits

Control over performers at every level

Flexibility and customizability

Insurance advertising did not appear yesterday: already in the middle of the 18th century, insurers used posters for their own advertising. Then the press joined them, in our time - radio, television and computer networks. Consider the evolution of only two of the oldest ways of insurance advertising - with the help of posters and the press.

A large number of insurance PR and advertising is located in the print media. This is a fairly effective way to promote insurance, products and companies, since print media, while relatively cheap, have a fairly large audience. But in order to correctly position in any segment, you need to find out which advertising medium is most suitable for your particular task. According to experts, as seen in Figure 3.4.1. The most effective advertising media for insurance are: press, radio and television.

This is due to the large coverage of the target audience of these advertising media. It should be noted that now insurance companies use just these types of advertising. But do not forget that each individual advertising and PR campaign needs its own carrier, effective just for it.

Due to the relatively low cost and large coverage of the target audience, insurance companies give the greatest preference to the press. Of course, advertising in the press in terms of audience coverage is much inferior to TV, but the cost is also high, and the effectiveness is very low.

“In many magazines you can see all kinds of articles about insurance companies, insurance and products, but they are absolutely not interesting to read. These articles contain a lot of numbers, statistics and analytics, and almost nothing is said in plain language. People who read "Money" "Expert" and "Itogi" are very few. And even those who buy these magazines, for the most part, do not read articles about insurance, because they are displayed in separate thematic applications, which, by definition, is an application for specialists and scares off ordinary people. readers, i.e. potential consumers. These articles are uninteresting, boring and very difficult for the average person. Personally, I do not remember a single advertisement of insurance companies, i.e. there are no vivid memorable images on their advertisements, slogans are dim and inexpressive. Most advertising is textual information and a company logo.How can this kind of advertising be remembered?It is necessary to write a marketing plan correctly, which insurance companies do not.When Underwriters come to an advertising agency, they either ask to write a marketing plan, or bring their own, but very bad. They plan poorly because their marketing departments are insurers, not marketers. Well, the superinsurer can't write a good marketing plan! In turn, a third-party company, even with good marketers, will not write a competent plan, because. does not know all the information about the company, and no one will give all. This is the main problem for insurance companies.

To build the right strategy for using the media, the insurer must answer a number of specific questions:

1. What are the goals of the insurer with its use of advertising in the media? This may be the promotion of a new range of insurance products designed for a specific market segment, an increase in prestige trademark in the eyes of public opinion, etc.

2. What are the target segments the insurer wants to reach with its message? In the case of using the media to promote a specific insurance range, this is its target market and its reference groups, and when promoting a brand, it is the market as a whole.

3. What media is best for getting the message across to the target audience? It is necessary to choose both the type of media (television, press) and their specific name - a national TV channel, a regional radio station, a newspaper of a political party, etc. The choice is made on the basis of an analysis of consumer preferences on a particular market segment, the level of trust in specific media, as well as the breadth of their distribution.

4. What is the plan of the advertising company? The insurer must set the budget to be spent during the advertising campaign, select the optimal distribution of funds between the media, determine the frequency, rhythm and seasonal distribution of advertising, and determine the requirements for advertising itself. The insurer must determine which set of advertising arguments has the greatest chance of success.

5. What is the expected ratio of insurance premium growth? At the final stage of planning, it is supposed to evaluate the economic efficiency of an insurance advertising company. This study may be conducted on the basis of tests and other methods of determining the market reaction to the insurer described above. If testing shows that the advertising campaign will not give the intended result, its strategy should be changed taking into account the results obtained.

When planning the use of the media, two approaches are possible - quantitative and qualitative. The quantitative approach relies on the geographical distribution and distribution of the media, on the quantitative coverage of potential clientele. A qualitative choice of media is an assessment of their possible impact on the minds of consumers and the importance that consumers attach to the opinion of this media.

Chapter 4. Economic justification of the event.

4.1 Business Case for Activity 1

Opening of new sales offices

A comprehensive plan was developed for opening new points of sale - branches and mini-offices in the regions where it has not been present until now. It is also planned to further expand the presence in the regions where we already have branches, by opening additional offices and mini-offices. Branches will be "universal" points of sale, carrying out the full range of insurance services, while most additional offices (OS) and mini-offices will be focused on serving individuals and enterprises related to medium and small businesses.

By significantly expanding the number of offices in the regions, we plan to increase the level operating income and seriously expand the client base, but at the same time, the task is to minimize the duplication of functions at the head office in Moscow and in the regions, thereby reducing operating costs.

We see it as our main goal to provide each client with a full range of modern insurance services while constantly improving the level of client service. Our new office is another step towards our goal

Table 4.1.1. Technical and economic performance indicators of measure 1

Analysis of the data presented in the table indicates a change in the cost structure by 4.37%

According to the calculations obtained, it can be seen that the level of profitability will increase, therefore, we can conclude that the efficiency of using fixed assets will increase.

Calculation of the payback period.

It is planned to open 50 new mini-offices. 2 employees will work in each office, with a monthly salary of 10,000. The payroll fund for newly opened offices is 600,000. The rent is 1,500 rubles. per month. For each office, equipment and consumables will be purchased in the amount of 17,500 rubles, see Table 4.1.2, in the total amount of 875,000 rubles.

The costs amount to 2,375,000 rubles. The proceeds after the event will be 2,598,197 rubles. Accordingly, the payback period is about a year (2375000/2297016.15=1.01)

Table 4.1.2. Purchased equipment

4.2 Business case for activity 2

Introduction of the Underwriting process in the Risk.Net system

Each type of insurance has its own underwriting features. Without an understanding of insurance risks and what is accepted for insurance (the object of insurance), as well as a description of the factors that increase the likelihood of an insured event and the expected amount of insurance compensation, it is impossible to correctly assess the risk. And if the degree of risk cannot be expressed in monetary terms, then it will also fail to form a profitable portfolio, and if it succeeds, it will be only due to chance.

Table 4.2.1. Technical and economic indicators of the effectiveness of measure 2

4.3 Business Case for Activity 3

One of the main methods of non-price competition is advertising of insurance products.

The purpose of advertising is to facilitate the conclusion of new and the renewal of previously existing insurance contracts. With the help of advertising, insurance companies seek to create a prestigious image of their organization and stand out from other insurers. Advertising is not limited to information about the types of insurance, the procedure for concluding contracts, the payment of insurance compensation or sums insured. It usually contains information about the insurance company offering its services, its authorized capital, shareholders, assets and liabilities of the balance sheet. This gives policyholders the opportunity to realistically assess the situation and consciously decide which insurance company to conclude contracts with and to whom to entrust their funds.

Table 4.3.1. Technical and economic performance indicators of activity 3

According to the calculations made, we can say that advertising activities will increase revenue and balance sheet profit, as well as the profitability of the enterprise will increase by more than 50%, all of the above will certainly affect the increase in competitiveness.

To summarize the results of calculations for all the activities under consideration and obtain data on the economic efficiency of the project as a whole, we summarize the data obtained in Table 4.3.3.