European Cooperation (Feb 2017)
INSURANCE COMPANIES’ ACTIVITY ANALYSIS ON FINANCIAL MARKET OF THE EUROPEAN UNION AND THE TRENDS OF ITS DEVELOPMENT
Abstract
The article introduces the modern market condition of insurance services in the European Union, depicts the main indicators of its performance, analyses the structure of the insurance products. Also it introduces the main insurance services’ development tendencies that concern to a greater extent the development of innovative technologies, informational systems, etc. The main peculiarity of this article is the best practice as for the development and further indepth application of the blockchain technology, smart contracts, etc. that requires further research and propositions as for their practical application in the activity of insurance companies and in other areas of financial markets. The most of attention in the work is concentrated on the market of insurance services of Germany which from the one hand is distinctive for the largest economies of the EU, and from the other hand, is the guideline for the countries with less developed economies as its indicators are not inapproachable.
