Methodology of classification of insurance companies’ financial flows

Olha Volodymyrivna Kneysler


The relevance of the study is revealed. It is defined by the necessity of scientific substantiation of the methodology of classification of financial flows in the process of insurance protection organization in order to regulate the movement of financial resources. That will allow to take effective financial decisions and determine the priorities and directions of the insurance market development.

Basic theoretical and methodological approaches to the classification of insurance companies’ financial flows are systemized. According to them some scientists consider the main approaches to the classification of cash flows in financial management, identify the classification criteria of financial and cash flows. The other ssientists specify the types of financial flows due to composition, shape of financial resources, the specifics of their formation and usage in individual entities. Thus, in the economic literature the most common classification features of financial flows among the variety of classifications are: activities, movement direction (focus), the sphere of circulation, the frequency (time limit, liquidity), the form of financial resources, the financial resources. A critical analysis of these approaches is made. Their advantages and disadvantages are defined.

We have shown the characteristics of financial flows in insurance companies that must be considered in their systematization and grouping: risk nature of financial resources movement; incoming and outgoing cash flows which determine the sources of formation and directions of financial resources usage; the result of the implementation of business operationswhich is expressed in the formation of profit or loss; branching and versatility.

In order to make more detailed characteristic of the essence and significance of insurance companies’ financial flows in theoretical and practical terms, to build an effective system of management we have offered our own methodological approach to the classification of financial flows of the insurers considering the specifics of their functioning in the insurance business. 


financial flows; financial resources; insurance companies; classification; financial solutions; financial management

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Science Works Journal "Ekonomichnyy analiz"

ISSN 1993-0259 (Print)  ISSN 2219-4649 (Online) DOI: 10.35774/econa

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