Modern trends in life insurance in the world

Abstract

A practical realization of life insurance programs plays important role in providing insurance protection for the life and health of citizens and strengthening the investment potential of the country. The aim of the study is to analyze the main indicators of life insurance in the world and Ukraine at this stage. It has been proved the necessity to take into account international experience outlining the prospects for modernization in local conditions. Based on macroeconomic indicators of the analysis of current trends in the life insurance market in the world within developed countries and developing countries is carried out. It is proved that life insurance is under complete saturation of such services in industrialized countries, while in developing countries it is growing rapidly. The estimation of the peculiarities of the domestic life insurance market is considered. Taking into account the world experience, the directions of life insurance modernization in Ukraine in the context of ensuring political and economic stability in the country are proposed. Also the development of  additional programs of social protection of the automatic underwriting and insurance mediation, amendment of insurance products, training of medical underwriters are considered. It is given the characteristics of global factors that are able to carry out the transformation of the insurance market, namely: political, economic, social, technological and environmental.