DOI: http://doi.org/10.15350/2409-7616.2020.3.17

Natalya A. Mashkina – PhD in Economics, Associate Professor, Department of Finance and Credit, Southwestern State University, Kursk, Russian Federation, E-mail: t.natusia@yandex.ru

Ekaterina O. Selyutina – Student of the Faculty of Economics and Management, Southwestern State University, Kursk, Russian Federation, E-mail: selyutina-1998@mail.ru

Abstract. The article examines the main trends in the insurance market of the Russian Federation as one of the most dynamically developing areas of business in the country’s economy. Insurance affects most of the life of modern society, which determines the relevance of the research topic. Insurance is carried out in two forms – compulsory and voluntary. Compulsory insurance is guaranteed by the state, but voluntary insurance is more flexible and allows you to take into account a wide range of client needs. However, there are currently some problems that require immediate solutions. The growth of the insurance market in Russia is mainly due to an increase in the volume of insurance premiums for motor insurance (CASCO, OSAGO) and life insurance. The development of the insurance market at the federal level is influenced by the situation in the regions, therefore it is important to assess trends at the regional level. The aim of the study is to analyze the direction of insurance development in the Russian Federation. During the study, comparison methods and economic and statistical methods were used. The tasks of the work are to identify existing problems in the insurance market in Russia and find solutions to them. The result was a study of the level of development of the insurance market in Russia for the period 2017-2019. The study examined the dynamics of insurance receipts and payments for various types of insurance in Kursk, Voronezh and Bryansk regions. The main conclusion of the work was the conclusion that now there is a problem of distrust of the population to insurance, as well as a lack of qualified insurance personnel. In this regard, it is necessary to pay special attention to improving the insurance culture of the population and strengthening state control over insurance companies. In 2019, for the first time in the last ten years, there is a sharp decline in the Russian insurance market, and for the first time there is a zero increase in insurance premiums. The development of insurance in Russia is also negatively affected by the situation with coronavirus, namely the introduction of restrictive measures around the world. Therefore, experts do not give positive forecasts for the development of the insurance market after 2020.

Keywords: insurance, insurance market, voluntary insurance, life insurance, property insurance, liability insurance, insurance receipts, insurance payments.

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For citation:

Mashkina N.A., Selyutina E.O. Analysis of directions of development of insurance in the Russian Federation. CITISE, 2020, no. 3, pp.191-204. DOI: http://doi.org/10.15350/2409-7616.2020.3.17