Method 

Essence 

Advantages 

Defects 

Possibility of 

application 

Me

thod of 

compar

ati

ve

 

adva

ntage

s 

(P

orte

r'

s 

matr

ix

) 

Competitive is an enterprise, 
that leads on the indexes of 
charges, volumes of income 
and sale, market, 
profitability shares 

Takes into 
account the 
factors of scale 
and international 
division of labor 

Static of estimation; 
the estimation of scale 
does not take into 
account efficiency of 
activity; influence of 
environment is not 
estimated 

Application is 
limited 
through the 
shortage of 
informative 
base 

Me

thod of qua

li

ty of 

comm

odit

y

 

Comparing of important 
from the point of view of 
consumer descriptions of 
commodity is to descriptions 
of competitors. It is 
envisaged that a commodity 
with the best descriptions is 
more competitive and better 
satisfies consumer need 

Importance of 
different 
descriptions is 
taken into 
account for a 
concrete 
consumer; 
detailed and 
complex analysis 
of 
competitiveness 

It is used only for the 
estimation of 
commodities; 
efficiency of activity 
of enterprise does not 
take into account 

Application is 
possible for 
the estimation 
of 
competitivene
ss of 
insurance 
product 

Source: developed based on [1-14; 20-30] 

 
Research of methodical approaches to the assessment of the competitiveness of 

economic entities, presented in economic literature, and the selection of base indicators 
with taking into account of requirements of informing, complexity, adequacy and 
optimality, allows to define the next groups of indexes that characterize the basic 
criteria of competitiveness  of insurance company: absolute performance of insurance 
company indicators; relative indexes of efficiency of activity of insurance company; 
indexes that estimate positions of insurance company at the market of insurance 
services; risk indexes. 

Initial factors in the formation and maintenance of an appropriate level of 

competitiveness of the insurance company are resources. 

The main resources of the insurer include: 
−

 

financial resources - available money funds of the target destination, which are 

formed at the expense of own and borrowed funds (own capital, funds of insurance 
reserves, borrowed funds). Financial resources management is carried out by structural 
units representing financial management (financial director, financial department, 
treasury of the company, chief accountant and accounting department, etc.); 

−

 

human resources - available to the company employees by profile of activities 

(financiers, marketers, sales staff, specialists from reinsurance, accountants, actuaries, 
employees to resolve claims, etc.); 

−

 

information resources - the company's databases and communications created 

in the company, fully ensure its operation. 

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