Економіка, управління та адміністрування (Apr 2022)
Methodical approach to management decisions by insurance companies in conditions of uncertainty
Abstract
The article is devoted to the formation of a methodological approach to management decisions by insurance companies in conditions of uncertainty. It was noted that in an unstable external environment, uncertainty is a characteristic feature of the process of economic activity of the insurer, so managers feel the urgent need to make rational decisions in conditions of uncertainty. As a result of the research, it was determined the correspondence of management decision-making models and states of uncertainty, which change consistently under the influence of incoming information. The methodology of making managerial decisions by insurance companies in conditions of uncertainty on the basis of building a matrix of decisions, a set of principles of dominance and methods aimed at solving management problems was substantiated. The use of the decision matrix, as noted by the author, involves establishing a link between alternatives and results in the financial environment of insurance companies and structurally corresponds to the awareness of the person making managerial decisions about the possibility of different environmental conditions. The stages of making a managerial decision in conditions of uncertainty were developed and the algorithm of consecutive actions by managers of insurance companies was determined. Based on the financial and investment work of insurance companies, as one of the most dependent on environmental conditions, the operation of the algorithm in practice was shown. The practical application of the proposed methodological approach will create opportunities for rational decision-making by managers of insurance companies in conditions of uncertainty.
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