Theoretical fundamentals of the integration process of banking institutions and insurance companies of Ukraine
DOI:
https://doi.org/10.5281/zenodo.5544196Keywords:
bancassurance, integration, integration mechanism, banking institutions, insurance companies, banking risk, crediting, bank, banking activityAbstract
This article reveals the theoretical foundations of the integration process of banking institutions and insurance companies of Ukraine. The concept of “bank insurance” of own and by definition of various scientists is theoretically substantiated. It is established that the integration of banking and insurance should also be considered as a macroeconomic phenomenon, as this process in its scale and pace of development in the world already covers not only the integration relationship between individual banks and insurance companies, but also the integration of banking and insurance institutions. are participants in the financial market of a particular country. It is proved that the concept of integration of banking and insurance can be defined as the process of combining the capital of insurance companies and banks or their participation in the capital and division of resources of BSI components (management, information, technology, personnel, etc.) in the case of joint financial services. An important component of modern economic relations is the development of globalization and integration processes, which have been transformed into a powerful direction of building world economic relations, which determines the direction of social, economic and political development. It is studied that the development of international economic integration patronized the emergence of integration processes in world markets for financial services. Since the late 80's of the twentieth century. industrialized countries created conditions in the financial markets, which contributed to the mutual segmental penetration of the banking and insurance markets. Integration processes, which allow the country to join the world community (globalization), directly affect the development of the environment in the domestic market, including to ensure the interaction between the insurance and banking markets and the integration of their own benefits.
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