The Russian Insurance Market: Current State and Development Prospects

The article presents the results of the research presented in the reports of the participants at the XXV scientific and practical conference “Insurance, Education and Science” on the topic “The Formation of Insurance Culture: Financial Education and Responsible Business”, organized by the All- Russian Union of Insurers and the Financial University under the Government of the Russian Federation. The article reflects the main findings of this event. The presentations of the participants covered the current state of the global and Russian insurance markets, as well as forecasts and possible models for its development. They also addressed a wide range of problems of certain types of insurance and reinsurance. Special attention was paid to the need to improve the level of insurance literacy and insurance culture among Russian citizens as a factor in the development of the insurance market. The results of research into the development of digitalization with a focus on increasing the efficiency of insurance companies and improving the quality of services offered to customers as well as the development of new software.

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