Kucherenko V. Forms of integration of banking and insurance capital in Ukraine

Dissertation is devoted to comprehensive research of theoretical, methodical and practical aspects in development of forms of integration of banking and insurance capital in Ukraine. The scientific novelty of the results is to deepen and develop theoretical foundations, scientific and methodological recommendations aimed to improve theoretical approaches to the interpretation of the term "integration of banking and insurance capital"; systematization of development stages of the system of sales of insurance products through banks in the US and European countries; methodical approaches to the classification of types of relationships between banks and insurance companies from the point of view of the existence of capital ties between them; meaningful characteristics of the concept of bank insurance; to gain further development regarding the definition of "bank insurance"; methodical approaches to the estimation of features and trends of bank insurance development. Dissertation includes analysis and systematization the basic scientific approaches to the study of the terms "integration", "capital", "banking and insurance capital", and author's proposal of interpretation the concept of "integration of the activities of banks and insurance companies". It is substantiated that the integration of the activities of banks and insurance companies can provide synergistic effect. Particular attention is paid to the research of bank insurance as a concept of integrated development of insurance companies and banking institutions. Considerable attention is paid to the issues of studying the forms and types of integration of banking and insurance capital, the identification of the specifics of the relationships between banks and insurance companies at different levels of integration and monitoring the current state of development of bank insurance in Ukraine. It was found that bank insurance is originated from the simple idea of selling insurance products through branches of banking institutions. The levels of integration are set: initial, agency relations, partnerships, cross-participation in equity (joint-stock), creation of a holding and a financial supermarket. It is proved that closer capital ties give the opportunity to a higher level of operational integration of financial intermediaries. Practical recommendations for activating the financial supermarket as a client-oriented model of integration of banking and insurance capital are offered and ways of adaptation in Ukraine of foreign experience of bank-insurance integration are defined. It is proved that they will contribute to increasing the competitiveness of the financial supermarket: reducing the cost of transactions between partners; the presence of common goals and information space leads to an expansion of the range of financial services provided to clients; the ability to offer customers not only "related" packaged products, but also integrated services; additional benefits from a unified customer database and distribution channels; the opportunity to realize competitive advantages from the synergy of enterprises and the portfolio approach in the provision of services. The main results of the dissertation were implemented in the practice of domestic insurance companies and educational institutions.