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Architectonics of Complex Modernization of Agricultural Insurance Market of Ukraine in Conditions of Transformation Processes

Author

Listed:
  • Robert Dankiewicz

    (Rzeszow University of Technology, Rzeszow, Poland)

  • Olena Prokopchuk

    (Uman National University of Horticulture, Uman, Ukraine)

  • Mykhaylo Malyovanyi

    (Uman National University of Horticulture, Uman, Ukraine)

Abstract

Creating a strong agricultural insurance market in Ukraine as an effective resource and tool to strengthen the agricultural sector of the economy from the standpoint of minimizing risks affecting the profitability of production is one of the key stages in the development of the Ukrainian insurance system in the agricultural sector. However, the Ukrainian agricultural insurance market is still in its infanthood and is developing unsystematically, without a clearly defined development strategy and proper state support. The purpose of the article is to develop proposals for the architecture of complex modernization of the Ukrainian agricultural insurance market in terms of transformation processes with vector interpretation of its development. The architectonics of complex modernization of the Ukrainian agricultural insurance market in the conditions of transformation processes is offered and the expediency of its strategizing in the context of five key vectors is proved, which, in turn, compose a vector set of directions of strategic character. The author's vision of strategic vectors of complex modernization of the agricultural insurance market of Ukraine is focused on: format outlines of the market (key forms of its further development), compositional structural framework of the market (formatting within the sectoral configuration taking into account the peculiarities of each of the three sectors); in terms of formal - legal norms and rules of insurance and informal restrictions - ethical and cultural norms), innovation of agricultural insuranceactivities (new approaches to the use of agricultural insurance potential) and agricultural insurance environment (insurance environment in the agricultural sector of the economy). According to the key provisions of the strategy of development of the agricultural insurance market of Ukraine, a logical and functional approach to the architecture of modernization of the Ukrainian agricultural insurance market in the conditions of transformation processes based on the principles: efficiency, tolerance, modernity, innovation, strategizing, transparency, clientele, customer orientation format. The study contains theoretical and practical provisions that form the basis for sustainable and dynamic development of the local agricultural insurance market in terms of transformation processes.

Suggested Citation

  • Robert Dankiewicz & Olena Prokopchuk & Mykhaylo Malyovanyi, 2021. "Architectonics of Complex Modernization of Agricultural Insurance Market of Ukraine in Conditions of Transformation Processes," Oblik i finansi, Institute of Accounting and Finance, issue 2, pages 74-84, June.
    • Handle: RePEc:iaf:journl:y:2021:i:2:p:74-84
    DOI: 10.33146/2307-9878-2021-2(92)-74-84
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    References listed on IDEAS

    as
    1. Oleksandr Vilenchuk, 2014. "State and Prospects of Agrarian Insurance Development in Ukraine," Oblik i finansi, Institute of Accounting and Finance, issue 2, pages 90-96, June.
    2. Martin Odening & Zhiwei Shen, 2014. "Challenges of insuring weather risk in agriculture," Agricultural Finance Review, Emerald Group Publishing Limited, vol. 74(2), pages 188-199, July.
    3. Barry J. Barnett & Olivier Mahul, 2007. "Weather Index Insurance for Agriculture and Rural Areas in Lower-Income Countries," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 89(5), pages 1241-1247.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    agricultural insurance; agricultural insurance market; agricultural sector; agricultural producers; risk management; development strategy;
    All these keywords.

    JEL classification:

    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
    • Q18 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Policy; Food Policy; Animal Welfare Policy

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