Designing a development strategy for financial institutions: practical insights for the insurance sector

Яковенко, Ігор Валентинович and Обушний, Сергій Миколайович and Сахар, Ігор Іванович (2025) Designing a development strategy for financial institutions: practical insights for the insurance sector Європейський науковий журнал Економічних та Фінансових інновацій, 18 (4). pp. 13-23. ISSN 2617-8648

Text I_Yakovenko_S_Obushnyi_І_Sakhar_ESJEFI_4_FЕU.pdf - Published Version Download (1MB)

Abstract

The article provides a comprehensive study of the strategic development of financial institutions, with a focus on insurance companies as entities that combine risk management, accumulation of financial resources, and the formation of investment potential. The relevance of the research is explained by increasing requirements for transparency and solvency of insurers, growing market competition, and the need to adapt to global challenges such as digitalization of business processes, climate-related risks, and the transformation of international standards. It is emphasized that under current conditions, a development strategy is not only a plan of action but also a key tool for ensuring long-term stability and building trust among clients and regulators. The purpose of the study is to design a system of strategic goals and practical mechanisms for their implementation in the insurance business. The methodology includes strategic analysis, SWOT and PEST analysis, expert evaluations, and comparative research. This approach made it possible to identify internal strengths of an insurance company, highlight external threats and opportunities, and establish basic guidelines for further development. The main results include the development of a “goal tree” model that aligns strategic priorities with resource capabilities and regulatory requirements. A set of performance indicators is proposed to assess the achievement of strategic objectives in terms of financial stability, capitalization, and innovation. Special attention is paid to the harmonization of strategic approaches with international practices such as IFRS 17, IAIS requirements, and national standards regulating insurance activities in Ukraine. The practical significance of the study lies in the possibility of applying the developed model as a tool for corporate strategic management and as an analytical foundation for public policy in the insurance sector. The findings may serve as a reference point for increasing the competitiveness of Ukrainian insurers in the context of integration into the European financial system

Item Type:	Article
Uncontrolled Keywords:	development strategy; insurance company; financial institution; investments; innovations; financial management; strategic management; international standards
Subjects:	Статті у періодичних виданнях > Фахові (входять до переліку фахових, затверджений МОН)
Divisions:	Факультет економіки та управління > Кафедра фінансів
Depositing User:	Сергій Миколайович Обушний
Date Deposited:	22 Oct 2025 06:57
Last Modified:	22 Oct 2025 06:57
URI:	https://elibrary.kubg.edu.ua/id/eprint/53481

Actions (login required)

View Item