PERSPECTIVES OF ECOSYSTEM APPROACH AS THE DIRECTION TO ACTIVATION OF INSURANCE MARKETING

Abstract

The article considers the prospects of introduction of the ecosystem approach by domestic insurers. The paper describes the reasons for the relevance of ecosystem development by insurance companies. Based on the studied theoretical material of domestic and foreign authors, the essence of the concept of ecosystem is analyzed. Due to this, the most specific features of this concept for insurance companies have been identified. In the course of the research the author revealed the main advantages of using ecosystems by consumers of insurance services. Such advantages include convenience, informativeness and functionality. The author describes the main prerequisites and positive consequences of the introduction of an ecosystem approach by insurers. Building an ecosystem requires insurers to review the traditional business model and assess the possibility of cooperation with enterprises in other industries, which can provide opportunities to increase competitiveness and create new sources of income. Within the ecosystem vision, the business model of insurers is gradually being transformed from a simple aggregation of risks to their prevention. This is achieved through the introduction of digital technologies such as telematics, mobile sensors and applications that allow real-time monitoring of the insured object. The article recommends the most promising areas for insurance companies to build ecosystems. These include healthcare, finance, transportation, housing and business services. The study formulates the main ways to implement the ecosystem approach by insurers. The implementation of the ecosystem approach by insurers is possible both by building their own ecosystem by creating subsidiaries or involving third-party partners and by participating in existing ecosystems organized by companies from other industries. Self-organization of ecosystems provides many benefits, but requires insurers to spend significant capital and resources, so it can only afford large players in the industry. Implementing an ecosystem approach by involving an insurer in existing ecosystems organized by other companies is financially, materially, and organizationally simpler than a stand-alone organization, but brings less value to the company's brand.The author gives examples of successful ecosystems in the insurance sector.