Behavioural aspects of interaction of participants of insurance market

Abstract

Introduction. Recent studies indicate that the state and prospects for the development of the insurance market and its infrastructure should be studied considering the behavioral aspects of the interaction of insurers and insurers with other participants in the insurance market.

Purpose. The article aims to reveal the behavioral aspects of the interaction of the participants in the insurance market.

Method (methodology). The article uses the following methods: method of analysis, method of synthesis, game theory method, method of generalization.

Results. The essential rules of behavioral insurance are determined. They are the behavior of potential insurers does not always correspond to the standard economic models of choice and decision-making on insurance, which is explained by the influence of psychological factors on their choice in conditions of uncertainty; the behavior of potential insurers in the field of decision-making on acquiring an insurance service affects the financial position of the individual insurer at the micro level and the state of the insurance market at the macro level; the state of the insurance market is influenced not only by the behavior of insurance services consumers, but also by other economic agents operating in the same market and other markets, which again affects the behavior of potential insurers regarding their decision to insure or not.

The peculiarities of the interaction of the insurance subjects with the elements of the insurance market infrastructure, between which a conflict of interest may arise, which is intended to solve the theory of games, is revealed.