CC BY
34Oriental Journal of Economics, Finance and Management SJIF for 2022: 5.806
ORIENTAL JOURNAL OF ECONOMICS, FINANCE AND MANAGEMENT
journal homepage: https://www.supportscience.uz/index.php/oiefm
THE PROCESS OF FORMATION OF INNOVATIVE ENVIRONMENT IN COMPETITIVE CONDITIONS IN THE INSURANCE MARKET
Sanobar R. Matiyazova
Researcher
Tashkent Financial Institute Tashkent, Uzbekistan
ABOUT ARTICLE
Key words: insurance market, innovation, insurance campaigns, innovative insurance, insurance marketing and innovation, insurance activity, competition
Received: 04.04.22 Accepted: 06.04.22 Published: 08.04.22
Abstract: The article examines the main tasks of the innovative activities of insurance companies, as well as the essence of the innovation environment and its role as a factor in improving the efficiency of insurance activities. The peculiarities of the introduction of innovations in the insurance market have been identified.
CyFyPTA БОЗОРИДА РАЦОБОТ ШАРТЛАРИДА ИННОВАЦИОН МУ^ИТНИ
ШАКЛЛАНИШ ЖАРАЁНИ
Санобар Р. Матиязова
Тадцщотчи
Тошкент молия институти Тошкент, Узбекистон
_МАЦОЛА Х,АЦИДА_
Калит сузлар: cyrypTa бозори, инновациялар, cyrypTa кампаниялари, инновацион cyFypтa, cyFypтa маркетинги ва инновациялари, cyFypтa фаолияти, ракобат.
Аннотация: Маколада cyFypтa компанияларининг инновацион фаолиятининг асосий вазифалари, шyнингдек, инновацион мух,итнинг мох,ияти ва унинг cyFypтa фаолияти самарадорлигини ошириш омили сифатидаги роли куриб чикилади. СyFypтa бозорига инновацияларни жорий этишнинг узига хос хусусиятлари аникланди._
ПРОЦЕСС ФОРМИРОВАНИЯ ИННОВАЦИОННОЙ СРЕДЫ В КОНКУРЕНТНЫХ
УСЛОВИЯХ НА СТРАХОВОМ РЫНКЕ
Санобар Р. Матиязова
Исследовател ь
Ташкентский финансовый институт Ташкент, Узбекистан
_О СТАТЬЕ_
Ключевые слова: страховой рынок, Аннотация: В статье
инновации, страховые кампании, рассматриваются основные задачи инновационное страхование, страховой инновационной деятельности страховых маркетинг и инновации, страховая организаций, а также сущность деятельность, конкуренция. инновационной среды и ее роль как
фактора повышения эффективности страховой деятельности. Выявлены особенности внедрения инноваций на _страховом рынке._
INTRODUCTION
The country's economy is growing at a steady pace, while maintaining macroeconomic balance, continuing to restructure, modernize, and technically and technologically upgrade production. Consistent socio-economic reforms are bearing fruit in all areas, including insurance. Current economic instability, rapid changes in business models and technologies, and accelerated product life cycles prove that it is not possible to increase the competitiveness of insurance companies without the use of innovations.
THE MAIN RESULTS AND FINDINGS The country's economy is growing at a steady pace, while maintaining macroeconomic balance, continuing to restructure, modernize, and technically and technologically upgrade production. Consistent socio-economic reforms are bearing fruit in all areas, including insurance. Current economic instability, rapid changes in business models and technologies, and accelerated product life cycles prove that it is not possible to increase the competitiveness of insurance companies without the use of innovations.
Creating products based on consumer needs in times of crisis will increase the competitiveness of insurance companies in the market and allow them to operate more efficiently. Research shows that innovative insurance marketing is a key driver of competition for insurance companies in the face of challenges with financial resources for technological innovation, and their performance in a market environment is determined by its customers. If customers value insurance products and services more than the cost of creating them, the business will grow, otherwise it will need outside help or such organizations will face a crisis. In this regard, p. Druker said: "since the main purpose of business is to attract customers, insurance companies have two and only two main functions: insurance marketing and innovation."
According to research, innovative insurance marketing involves the development of new products, equipment, services and new technologies and the use of new insurance marketing methods to market them. According to the analysis of the activities of insurance companies, the use of innovations in insurance marketing will allow to fully meet consumer demand and conquer new markets.
Today, "innovative insurance marketing" is a new direction in insurance marketing, which involves the introduction of production technologies in the formation of innovative products and services, as well as the commercialization of this innovative idea. It uses a set of methods and tools that allow the company to introduce innovative products with maximum efficiency. Timely application of innovative insurance marketing technologies reduces the risk associated with the development of innovations, as they allow to assess the potential demand, identify the target market segment and answer the question of whether to continue developments, whether they give the expected results. . The main purpose of innovative insurance marketing is to develop a strategy for introducing innovations to the market and ensure that a new product has a strong position in the market, to study the innovation market based on innovative insurance marketing tools, unlike traditional insurance, market monitoring, market analysis of conjuncture, formation of demand, development of market segments on consumer behavior. In services, "innovative insurance marketing" refers to a set of human activities aimed at making a profit by meeting the need for innovation as a result of exchange. These activities range from identifying the need for innovation to creating new innovative services, entering the market, the life cycle of services, applying them in practice, increasing customer interest in purchasing innovative services, determining the demand for innovations and prospects for their creation. . Service innovation and service innovation is a broad concept that is not sufficiently used in science and practice.
Innovative insurance marketing can be defined as the sale of an innovative product on the one hand, and the sale of any product using innovative means on the other. Based on this definition, we can use one or another tool of insurance marketing to sell a product. Including: Innovative insurance marketing; innovative insurance marketing; innovative product; traditional product.
The use of these insurance marketing tools in the sale of products is expressed as follows: Use of traditional insurance marketing tools in the sale of innovative products; Use of traditional products in the sale of innovative insurance marketing tools; Selling innovative products using both innovative and traditional insurance marketing.
As innovative insurance marketing emerges as a type of innovative activity in the modern market environment, the focus in mastering the process of developing new products and services is to focus on market research rather than evaluating these innovative products. This, in turn, means the importance of using innovative insurance marketing technologies in the effective and successful sale of new products or services by innovative product development companies.
One of the main tasks of the innovative activity of insurance companies is to formulate a basic innovative marketing marketing strategy with top management, determine the boundaries of its placement in the market segment, appoint executors, implement a specific practical directive for each participant in market relations. Is to set a term. Therefore, strategic insurance marketing research includes the main structural features of innovative insurance marketing processes that are part of the innovation policy of insurance companies. Research shows that innovation strategies and tactics are an important area of insurance marketing and involve the development of a competitive strategy based on the formation and marketing of new products.
It should be noted that innovative insurance marketing is an activity of insurance companies based on improving production and influencing market conditions. Research shows that each stage of the innovation life cycle requires different insurance marketing methods and approaches, different strategies and tactics. The system of innovative insurance marketing measures is inextricably linked not only with the modernization of production, but also with the dynamics of capital accumulation and flow.
CONCLUSION
Innovation in the insurance business is a modern trend and plays an important role in increasing the income of the insurance company and its market position due to the increase in the number of insured. The innovative direction is the transition from the old style to the new, as well as from mass consumption to individual consumption. Customers now have their own requirements for insurance services. While individual consumption is designed to meet the specific needs of a particular customer on the one hand, on the other hand, the product must be delivered to the customer in a way that is convenient and new to sales. At the present stage of insurance there is a growing interest not only in the sale of insurance services, but also in the creation of innovations in the system of its provision. For example, the consumer not only does not want to have a car insurance policy, but the policy also includes his evacuation, repair of the damaged object, temporary replacement during the repair, emergency medical care for the injured. Wants in conclusion, the formation of an innovative environment in the insurance market, in turn, increases the transparency of insurance companies, ensures that they maintain accounting in accordance with international financial reporting standards and actively interacts with auditing and consulting companies.
REFERENCES
1. Madrahimova, G. (2020). А THE IMPROVEMENT OF ORGANIZATIONAL AND ECONOMIC MECHANISM TO INCREASE RESOURCE EFFICIENCY IN TEXTILE ENTERPRISES. Архив научных исследований, (16).
2. Pikus R., Zakolodyazhny V. Innovative development of insurance activities as a basis for improving its efficiency. // Bulletin of Taras Shevchenko National University of Kyiv. Economy., Socionet; Киевский национальный университет имени Тараса Шевченко, 2015. vol. 27(168), pages 72-80.
3. Madrahimova, G. (2020). a Green economy: Essence, principles and prospects. Архив научных исследований, (17).
4. Drucker P.F. Management: tasks, responsibilities, practices, Transaction Publishers, New Brunswick, N.J.; London, 2007.
5. Madrahimova, G. (2020). G Analysis of the Role and Current State of the Textile Industry in the Economy of Uzbekistan. Архив научных исследований, (16).
