The impact of digitalization on youth unemployment in Kazakhstan: Evidence from an ARDL framework

The research is aimed to evaluate the internet marketing strategies in of life insurance companies in Ukraine. The insurance service in the time of digitalization faces scenarios of implementation in the marketing strategy on-line component. The main challenge for Ukrainian life insurance companies comparatively with the world practice is non-obligatory status of such kind of insurance contracts. So, on the one hand, costs of operation, regulatory pressures and inflexible technology infrastructure are increasing, and, on the other hand, economic recession does not allow to increase the number of insured persons, premiums and profit growth.
Sector of financial services is characterized by an increase in the level of competition, life insurance compelled to compete with pensions funds, banks and other financial institutions in order to defend their market share. Insurance companies marketing strategy determines how an insurer can best achieve its goals and objectives, keep existing customers and attract new ones with minimal costs.
Keeping all the above problems around the study would attempt to study all the factors that contributed to the effective marketing strategies. This paper presents different marketing strategies that are taken up in life insurance services keeping in view external and internal environment of the company.

The COVID-19 pandemic has affected different sectors of the economy, including insurance, and has become a problem and a clear catalyst for innovation. The pandemic has highlighted some inefficiencies of the traditional model of interaction between insurers and their customers and focused on insurance companies’ efforts on innovations and investments in the digital future. That is why the article aims to generalize the transformations of the institutional environment in the InsurTech ecosystem in the context of the COVID-19 pandemic and identify prospects for its development in the post-pandemic period.
The analysis of the functioning of InsurTech as an ecosystem necessitated the identification of challenges for the insurance market in the context of COVID-19. The peculiarities of the insurance market development have been identified: the blurring of boundaries between insurers, BigTech firms, and technological partners; expanding interaction with policyholders based on the principle of support and the use of social networks; changes in the structure of the implemented insurance services; an increase in insurance fraud cases; the growing demand for parametric insurance products; introduction of a digital approach to the interaction with customers and employees, modernization of technological infrastructure and expansion of data processing capabilities; remote risk identification; acceleration in the use of financial technologies by insurance market participants. There is a transformation of the insurance market under the influence of business processes digitalization because insurers are aware of the importance of InsurTech in the formation of competitive advantages.
For many companies, the crisis has strengthened their innovative development strategies and accelerated the implementation of financial technology tools in their business processes against the background of modernization of technological infrastructure. Chatbots, telematics, the Internet of Things, machine learning, artificial intelligence, predictive analytics, etc., are widely used. In the future, InsurTech will also play an important role in introducing digital innovations in the insurance market.

This paper examines the economic relationships between oil price volatility and socially-economic development of 14 Organization of the Petroleum Exporting Countries (OPEC) using the annual panel data for the period 1990–2014 obtained from the World Bank (WB) statistical data sets. Hausman specification test has been performed to choose the method of panel data analysis, and the results were in favor of fixed effects estimation. The main findings indicate the direct relationship between economic growth and oil price volatility. The research supports the hypothesis that an increase in crude oil prices is positively related to GDP, and a 10% increase in oil prices correlates with 0.6-4% GDP improvements. Structural changes in employment in favor of service sector are negatively correlated with GDP per capita. Changes in GDP structure in favor of oil rents on 10% lead to the shrinking of GDP on 1%. Life expectancy at birth, as an indirect indicator of health, positively influences the economic growth indicators and an improvement in life expectancy on one percentage leads on average to 1% growth in GDP and 0.5-1.33% growth in GDP per capita. Energy efficiency improvements are positive drivers of GDP values at OPEC, and our findings suggest that a 10% increase at GDP per unit of energy use leads to 3% increase of GDP itself. The study recommends investing in energy efficiency, human capital, and capital formation to guarantee long-run economic development and prosperity of OPEC counties.