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This article explores the impact of digital technologies on the insurance business in Russia, suggesting necessary support and collaboration strategies.
The digital transformation of the insurance market requires new solutions to promote insurance products. This article describe the development prospects for digital technologies in the Russian insurance business. Research data were obtained from the official websites of insurance companies and the Central Bank of the Russian Federation as the mega-regulator. Leading insurers in the domestic market actively use technologies, such as artificial intelligence, chatbots, blockchain, and cloud technologies. The role of financial marketplaces and digital ecosystems in insurance promotion has increased over the past decade. The current digital ecosystem represents a highly effective way to promote insurance products, facilitating online communication among multiple partners and using innovative technologies to accumulate, analyze, and transfer information within a specific ecosystem. The main challenges hindering the development of InsurTech include limited investment funds, an insufficient supply of ready-made digital solutions for certain categories of insurers, a lack of qualified personnel, and the withdrawal of some IT companies from the Russian market. The authors propose increasing the level of information support for insurance market participants. In addition, insurance companies should cooperate with technology companies while utilizing government support for digital technologies through grants, subsidies, or tax incentives. Finally, insurance companies need to organize vocational education and retraining programs.
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Yusibova et al. (2026) studied this question.
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