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Май, 2018 / Международный научный журнал
«Наука через призму времени» №5 (14) 2018
Автор: Васильчикова Анна Владимировна, студент
Рубрика: Экономические науки
Название статьи: Problems and prospects of development of the insurance market of the Russian Federation
Дата публикации: 02.05.2018
PROBLEMS AND PROSPECTS OF DEVELOPMENT OF THE INSURANCE
MARKET OF THE RUSSIAN FEDERATION
O.N.Uglitskikh, Candidate of Economic
Sciences,
Associate
Professor of the Department of Finance, Credit and Insurance
State
Agrarian University,
A. V. Vasilchikova, student 3 years eg. "Economy"
Annotation. This article examines the problems and prospects
for the development of the Russian insurance market, as well as factors
affecting the development of the Russian insurance market and, in turn,
comparison of some indicators in the context of countries.
Keywords: insurance, insurance market, problems, factors,
prospects.
Today,
many forecasts of Russia's economic development, characterizing the future of
the country in the darkest colors, are published. Over the past two years, the
Russian economy is experiencing serious problems associated with the fall in
prices for carbon goods: as a result of which the devaluation of the national
currency, budget sequestration, economic stagnation, the fall in the level of
real income of the population (2014-199.6%, 2015-95.3% ),
food shortages, etc. And this is not all that the Russian economy, relations
with the aggravated relations with Turkey can face. As the future of the
insurance industry is closely linked to the economic development of the state,
it expects common problems. The insurance market in Russia does not predict
anything particularly good.
To
assess the current state of the insurance market, it is advisable to compare some
of its indicators in the context of countries. So, if the insurance premium per
capita in Japan is about 4,5 thousand dollars, in Switzerland - 3 thousand, in
the USA - 2,5 thousand, in Russia - only, about 40 dollars.
In
the gross domestic product in developed countries, the share of the total
insurance premium is 8-10%, and in the Russian Federation - about 1.5%. The
expenses of Australians for voluntary insurance make up about 10% of the total
income, Americans - more than 15%, Russians - about $ 2 per year.
As
you can see, the very content and scale of insurance operations in the foreign
and domestic insurance market is simply incommensurable.
Today's
insurance market in Russia came to the stage of stagnation after the whole
economy. Its growth rates are at the level of inflation. Analysts predict
deterioration of the situation in 2015, which is due to the lack of real market
support.
Following
the peak in the growth rate of insurance premiums in 2012, significant signs of
stagnation were detected as early as 2013. Insurance premiums decreased by 10
percentage points compared to the previous year, amounting to 12%. The most
significant braking occurred in the insurance of property of enterprises,
borrowers and CASCO.
Following
the decline in growth rates, financial results worsened. Today, the biggest
problems are highlighted in auto insurance. Profitability of own funds of
representatives of the insurance market has decreased to the minimum value for
the previous 5 years - up to 6.1%. Insurance companies have taken certain
measures to increase the rates of CASCO and sanitation of portfolios. Nevertheless, the auto
insurance business remained unprofitable.
The
first reason, perhaps, is the most important. Despite the economic changes, the
state did not raise the state tariff. Losses grew and auto insurance pulled
down after him overall indicators. In addition, the relationship between the
insurers and their clients is now exacerbated. The first reason for this was
the regulation of this area by the Consumer Rights Law. Difficulties are also
due to the fact that today insurers are required to settle losses within 20
days. However, this is quite difficult, especially in case of fraudulent acts.
For example, in European countries for this is given 60 days,
that is 3 times more.
In
2014, the insurance market was seriously affected by events that occurred in
the tourism industry. The essence of the problem is that small firms with a
staff of 2-3 people took responsibility for huge amounts. No one could even
foresee how sanctions and the increase in the exchange rate will affect the
flow of tourists, which has declined several times. Most of the bankruptcies
were due to the decline in the market and the lack of the possibility of
realizing tourist vouchers. Unfortunately, Rostvertizm
can not control all companies that are licensed. Nevertheless, the
insufficiency of their insurance coverage is quite obvious. However, all
responsibility was shifted to insurers, who suffered losses, including image.
Assessing
the overall insurance market, it is worth noting the positive fact of the
emergence of its regulator in the face of the Central Bank. This approach has
visible advantages - the Central Bank sees the entire financial market, and not
just individual sectors. Insurers themselves noted this event as their luck
when they entered in 2015 together with a powerful regulator.
Due
to the reduction of medical budgets, health insurance may also grow. It is
assumed that voluntary medical insurance and life insurance will increase more
than CASCO and OSAGO, slowed down by a decrease in demand for motor vehicles,
which in turn is due to a sharp rise in prices. As noted by analysts, negative
trends in our economy will have a detrimental impact on the corporate sector.
Some
representatives of the insurance market see a more positive future than market
trends. However, most likely, these are dangerous and profound errors. After
all, insurance is a derivative of macroeconomics. A disappointing situation is
indicated by forecasts for the production sector, sales in the automotive and
tourism markets.
The
lack of desire of some state structures in Russia to address the vital problems
of the insurance market is destructive. In turn, any questions regarding the
development of individual segments of this market need to be addressed in
parallel. Otherwise, long-term stagnation
is not a
miscarriage.
Thus,
today the Russian insurance market only partially fulfills its socio-economic
function. This industry provides legal entities and citizens with only the main
protection against possible risks. It is not a serious element of the
development of the country's financial sector, does not play a significant role
in underwriting medical risks and in providing financial security for old-age
citizens. Insurance premiums in their total volume are only ¼ of the
volume of insurance premiums of any one of the world's leading insurance
companies. At the same time, the total assets of Russian insurance companies
make up an even smaller share. Naturally, with such indicators, it is simply
impossible to fulfill its social and economic mission to the Russian insurance
market. At the same time, in some segments, the competitive environment is
seriously distorted by the high dependence on sales from intermediaries and the
predominance of underwriting on the basis of cash flows. The policyholders pay
premiums that are significantly larger than those that are paid in other
countries, insurance companies incur losses, and intermediaries receive all the
profits. In view of the fact that the current situation in the insurance market
in Russia is only progressing, regulatory reform can not be avoided.
Список литературы:
- "Expenditures of the Russian population in the conditions of sanctions and devaluation of the ruble" (Materials of the XXII International Scientific and Practical Conference, April 2-3, 2015, Moscow)
- Aksyutina S. V. Insurance market of the Russian Federation: problems and prospects // Problems of Territory Development. - 2014. - No. 2 (70). - P. 115-126.
- Mamaeva A. S. Prospects for the development of the insurance market in 2015 // http://www.scienceforum.ru/2015/986/11168 Strategies for the development of insurance activities in the Russian Federation until 2020, approved. Order of the Government of the Russian Federation of July 22, 2013 No. 1293-p // Collection of legislation of the Russian Federation. - 2013.-No. 31. - Art. 4255.
- Strategy of development of insurance activity in the Russian Federation: first results, problems, prospects: materials of the XVI International Scientific and Practical Conference (June 2-5, 2015, Yaroslavl) / YarSU, ROSGOSSTRAKH. - Yaroslavl, 2015. - 580 p.
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