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№ 2/2017№ 2/2017 | Nauk. pr. NDFI 2017 (2): 88–96https://doi.org/10.33763/npndfi2017.02.088 | MARKET OF FINANCIAL SERVICES TERESHCHENKO Hanna 1, LYS Nadiia 2 1SSI “Institute of Educatinal Analytics”
OrcID ID : https://orcid.org/0000-0002-9458-2843
2SESE “The Academy of Financial Management”
Global innovative hypercompetition and its impact on the activities of domestic insurance companies
The article is focused on the main features of global innovative hypercompetition and its impact on the development of the domestic insurance companies. The openness of national economies, the globalization of economic relations, technology transfer have given the competition between insurance entities a global nature. The authors define the signs of the impact of ICT on the current domestic insurance market and determine the main factors to ensure a sufficient level of competitiveness of domestic insurance companies in terms of global innovative hypercompetition. Hypercompetition management of the global insurance market with the use of dominant innovations is presented. The globalization of the insurance market leads more intensely to a fierce competition between insurance companies for new knowledge, for the right to control and regulate resources, information and financial flows, a share in the national insurance market, ownership of intellectual and information capital, the right to control and manage financial processes, determining their status of leadership, high image and competitiveness in the global insurance market. The authors provide recommendations on the application of a strategy of aggressive innovation and technological leadership or a strategy of global innovative hypercompetition by Ukrainian insurance companies. The most important elements that define active methods of hypercompetition are its hypercompetition struggle and advanced innovation management.
Keywords:hypercompetition, global innovative hypercompetition, insurance company, insurance market, information and communication technology, innovation. JEL: G22, O33, P45.
Tereshchenko H. . Global innovative hypercompetition and its impact on the activities of domestic insurance companies / H. . Tereshchenko, N. Lys // Наукові праці НДФІ. - 2017. - № 2. - C. 88-96. | Article original in Ukrainian (pp. 88 - 96) | Download | Downloads :605 |
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