Insurance process: concept, elements and necessity of implementation.

Abstract

The article analyzes the theoretical essence of insurance as an economic category, systematizes the concept of leading scientific schools in accordance with the stages of formation of the world economic system. According to the results of the analysis, aware of the complexity, consistency and systemicity of insurance, it is proposed to consider it as a complex of actions of the insurer and the insured from the moment of awareness of the risk to the moment of provision of services for the payment of insurance indemnity. In the process of analysis, particular attention is paid to each of the stages of the proposed insurance process, the necessity, consistency and significance of these stages in the system of ensuring the financial and economic security of the insurer is substantiated, and the conclusion is made on the exhaustiveness of each of the stages of the insurance process. The established sequence of stages in the proposed insurance process is analytically tested for practical use by insurers and it is found that the insurance process is universal for practically every insurance service, but the exclusion is also found in the part of the practical application of certain stages of the process, which is connected with the legislative non-settlement.