Improvement of method of stress testing of insurance companies

Abstract

The article proves the need to improve financial control of insurance companies through the choice of a new political and economic course of the country, as well as the inefficiency of the old model, which does not promote sustainability and transparency of the insurance market, and creates a shady schemes of companies, reductions in insurance payments, dumping, lack of formation of the assets and insurance reserves. The increase of the solvency requirements of insurance companies create new control means and tools that make companies to use modern information technology and European models adapted to Ukrainian economic conditions. Improvement of local control systems considersthe change of the parameters that make it possible to take into account insurance risks and obtain an objective assessment of the financial stability of the company, its vulnerability to external conditions. Modern systems are complex combined tables, charts and graphs. On their basis it is possible to make quick analysis and forecast the company activity quickly and efficiently. Trends of reforming the system of supervision mean the transition from manual calculation of parameters to automated processes, combination of control of the main processes of the insurance company activity into a single module using mathematical and programmatic capacity of computer systems.