Journal of Siberian Federal University. Humanities & Social Sciences / Assessment of the Level of Socio-Economic Development of Regions and Their Insurance Markets Based on the Index Method (Russia)

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Issue
Journal of Siberian Federal University. Humanities & Social Sciences. 2023 16 (9)
Authors
Prokopjeva, Evgenia L.; Saksonova, Svetlana; Pisarenko, Zhanna V.
Contact information
Prokopjeva, Evgenia L.: Siberian Federal University Krasnoyarsk, Russian Federation; ; Saksonova, Svetlana: University of Latvia Riga, Latvia; ; Pisarenko, Zhanna V.: St. Petersburg State University St. Petersburg, Russian Federation;
Keywords
insurance market; insurance premiums; socio-economic development; depth of the insurance market; insurance density; level of payments; rating model; human development index; private indexes; integral index
Abstract

The insurance market is one of the driving forces in the socio-economic development of the country. Therefore, the study of the level of development of the insurance market becomes an urgent problem both for countries with a stagnating economy and with a rapidly growing one. This is particularly true for countries with a transitive economy, as being unstable and subject to increased risks. The intentional development of the insurance market in these countries will increase financial stability and ensure the growth of their economies, thereby reducing the risks of the global economy. The article proposes a rating model that takes into account the key indicators of socio-economic development of regions, and indicators characterizing the level of development of the insurance market. It is based on the use of indices within the framework of the methodology used by the United Nations to evaluate countries using the integral indicator of “Human Development Index (HDI)”. The proposed model allows to quantify the level of development of specific regions and their insurance markets. The rating assessment model makes it possible to compare the level of socio-economic development of countries (regions) with the level of development of the insurance market and, therefore, to identify countries (regions) that have problems in the development of the insurance market. This assessment is the basis for the development of a set of measures that contribute to the development of regions and their insurance markets at the state and state-by-state levels as well

Pages
1600–1615
EDN
JQMUVP
Paper at repository of SibFU
https://elib.sfu-kras.ru/handle/2311/151698

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