Internal control of an insurer in the context of transformation changes

Abstract

The article examines the features of organizing internal control of an insurer, which is an important component for ensuring stability, efficiency and compliance with regulatory requirements. Emphasis is placed on the significance and properties of internal control as a key tool for ensuring financial stability and effective management of an insurance organization. The article examines institutional aspects of the organization of internal control, its main functions, principes and mechanisms of influence on the activities of insurance organizations. Based on the practical activities of insurance organization, they establish internal audit departments, supervisory boards and other controlling bodies. They implement institutional control and independently determine and build a control system. The article analyzes modern challenges related to digitalization, regulatory and risk management in insurance organizations. The role of internal control in ensuring the competitiveness of insurers and the stability of the insurance market is determined. In conditions of rapid transformations changes, the insurer's internal control is an effective tool that affects the development of priority areas of the insurance business. Its further improvements require updated systematic research that takes into account the specificity of insurance activities and is aimed at increasing the efficiency of insurance supervision at the macro and micro levels. The research is based on the scientific achievements of domestic and foreign specialists, using structural, generalizing and abstract-logical methods of analysis.