STATE COMPETITIVE POLICY ON THE LIFE INSURANCE MARKET

Background. Offered scientific research is dedicated to the little-studied and urgent question of competitive policy development on the Ukrainian life insurance market. The consideration is provided in the context of necessity to overcome state monopoly and to establish other private insurance companies on the market. Recent researches and publication analysis on the chosen research area proves the absence of the case study on the establishment and historical development processes of competitiveness and state competitive policy on the life insurance market. The majority of the existing researches is focused on the insurance services market on the whole and does not study separately the competitive policy status on the life insurance market. Meanwhile, the scientific surveys of the mentioned omissions are urgent and form the basis of the research purpose. Results. The central aspect of the analysis done is discovering the historical terms and economic conditions of the competitiveness appearance, development and functioning on the life insurance market. It was identified that establishment of the competitiveness happened in four stages, the allocative, adaptive, distributive, control and innovative functions of competitiveness are found in each of them. The mechanism of competitiveness stimulation on the life insurance market is developed, it includes the regulation forms, stimulation methods and instruments as well as interconnection with the system of state regulation. It was defined that competitiveness on the life insurance market is an economic category, which appeared as a result of overcoming the state monopoly in the insurance, it develops according to the general laws of competitiveness, is regulated by the state and shows the relationships of economic rivalry for receiving additional income between life insurance agents and other financial enterprises. Conclusions. The provided research in author's opinion is able to become the component of the state competitive policy on the life insurance market. The offered mechanism of competitiveness stimulation on the life insurance market should be the effective means of this market development.