Development of the life insurance ecosystem based on the creation of a single digital platform

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Abstract

Ensuring the development of life insurance as a significant component of the national economy and a source that ensures the formation of the country’s long-term financial resources is traditionally of interest to researchers. A relatively new research vector may be the study of the issue of creating and developing a life insurance ecosystem, within which interactions between various financial institutions can be expanded. The article gives a brief description of the current state (development trends) of public and private life insurance in Russia and determines the need for their organization and development in the context of an ecosystem based on the creation of a single digital platform. The research purpose is to analyze the possibilities of creating a life insurance ecosystem in Russia and its functioning on the basis of a single digital platform. To achieve the research purpose, such methods as a systemic and logical analysis, a method of induction were used. The research results are as follows: risks that the life insurance ecosystem may face were identified and some ways to minimize them were proposed. In conclusion, the authors made a conclusion that the development of the life insurance ecosystem based on the creation of a single digital platform will expand the range of interactions between its participants and will make it possible to transform life insurance into a subject of national interest.