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Sectoral Competitiveness of the Insurance Markets of the EAEU Countries: Criteria and Evaluation

Author

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  • Amir K. Sembekov

    (Karaganda Economic University of Kazpotrebsoyuz, Karaganda 100009, Kazakhstan)

  • Yeraly G. Budeshov

    (Karaganda Economic University of Kazpotrebsoyuz, Karaganda 100009, Kazakhstan)

Abstract

This article examines the issues of assessing the competitiveness of the national insurance markets of the EAEU. It also analyzes the main criteria characterizing the level of competitiveness of the national insurance market in the conditions of the integration union. As a result of the research, the main competitive advantages and weak positions of the national insurance markets are identified in the context of each country, based on the application of the methodology for assessing the competitive advantages of the insurance markets of the EAEU member countries through the «competitiveness polygon». Using economic and mathematical modeling the authors estimate the influence of factors of the industry competitiveness of the insurance markets in the conditions of the integration space of the EAEU. Measures aimed at enhancing competitive advantages in the activities of insurance companies and forming a competitive national insurance market of the Eurasian Union are proposed at the end of the article.

Suggested Citation

  • Amir K. Sembekov & Yeraly G. Budeshov, 2018. "Sectoral Competitiveness of the Insurance Markets of the EAEU Countries: Criteria and Evaluation," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 2, pages 84-93, April.
    • Handle: RePEc:fru:finjrn:180207:p:84-93
    DOI: 10.31107/2075-1990-2018-2-84-93
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    References listed on IDEAS

    as
    1. Gulzira SERIKOVA & Amir SEMBEKOV & Ainura OMAROVA & Svetlana KUZGIBEKOVA & Ainur TINGISHEVA & Eraly BUDESHOV, 2017. "Development Analysis of Insurance Markets in the EEU," Journal of Advanced Research in Law and Economics, ASERS Publishing, vol. 8(4(26)), pages 1315-1321.
    2. Yuri A. Spletukhov, 2017. "Insurance Markets of the EAEU Member States: Current Status and Efficiency," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 2, pages 105-114, April.
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    Cited by:

    1. Lada Shirinyan & Aram Shirinyan, 2019. "New Methodology of Complex Assessment of the Insurance Services Market of Ukraine: Scale and Competition Factors, Trends and Comparisons," Oblik i finansi, Institute of Accounting and Finance, issue 1, pages 114-138, March.

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      More about this item

      Keywords

      competitiveness; competitive advantages; concentration of insurance market; density of insurers; market penetration; insurance market indicators; assets; equity; insurance premiums; Herfindahl-Hirschman index;
      All these keywords.

      JEL classification:

      • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies

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