Journal of Environmental Treatment Techniques  
2020, Volume 8, Issue 4, Pages: 1549-1555  
J. Environ. Treat. Tech.  
ISSN: 2309-1185  
Journal web link: http://www.jett.dormaj.com  
https://doi.org/10.47277/JETT/1555  
Increasing the Level of Social Protection of the  
Population: The Development Features of the  
Insurance Market of the Russian Federation  
1
2
3
3
3
Svetlana Yanova *, Olga Korobeynikova , Nataliya Apatova , Oleg Blazhevich , Vlasta Shalneva ,  
Amina Zharova3  
1
The St. Petersburg State University of Economics (UNECON), 21 Sadovaya str., St. Petersburg, 191023, Russia  
2
Volgograd State Technical University, 28, Lenin Ave., Volgograd, 400005, Russia  
3
V.I. Vernadsky Crimean Federal University, 4 Vernadskogo Avenue, Simferopol, 295007, Republic of Crimea, Russia  
Received: 01/07/2020  
Accepted: 29/09/2020  
Published: 20/12/2020  
Abstract  
The relevance of the study of the insurance market is associated with the strengthening of its role in increasing the level of social protection  
of the population, increasing the volume of investments in the development of the state economy, as well as exempting the state budget from  
additional costs for reimbursing losses from unforeseen events. Without insurance market development, it is impossible to ensure the safety  
of the socio-economic development of the state, the continuity of the functioning of business actors, improving the population welfare and  
many other guarantees that compensate for the effects of the current risks of environment. The aim of the work is to determine the features  
of the development of the insurance market in Russia, as well as to identify problems and prospects of its functioning in order to increase the  
level of social protection of the population. We use modern general scientific and special research methods, including deduction, induction,  
analysis, synthesis, abstraction, generalization, system analysis, comparison. Currently, the Russian insurance market actively reformed in  
accordance development strategy; however, due to the crisis processes in the economy, the full implementation of measures is somewhat  
difficult. The conjuncture of the insurance market is quite sensitive to fluctuations of economy; therefore, in the future its development will  
depend on economic and political factors, external and internal threats. Many problems solution depends on the use of modern insurance  
technologies (InsurTech), which combine traditional insurance methods and IT innovations. New approaches require preliminary pilot  
implementation with subsequent scaling, and legal regulation, the development of digital law in Russia.  
Keywords: Insurance market, Financial market, Socio-economic development, State, Security, State regulation  
1
from expenses for reimbursement of losses from unforeseen  
1
Introduction  
events made this work relevant. A sufficient number of studies  
address the issues of achieving economic security [10-19]. They  
note that without a developed insurance market it is impossible to  
ensure the socio-economic development of the state, the stable  
functioning of business entities, the preservation and  
improvement of the welfare of the population [20-27]. The aim of  
the work is to determine the features of the development of the  
insurance market in Russia, as well as to identify problems and  
prospects of its functioning. In accordance with the goal, we  
solved the following tasks: (a) assessment of market conditions  
and its features in Russia at the present stage; (b) identification of  
problems and prospects for the development of the insurance  
market in Russia; and (c) forecast for the development of the  
insurance market.  
The centuries-old experience in the formation of the insurance  
market of the Russian Federation proves the need for its study and  
improvement as the most important institution of economic  
development of society. The state and problems of development  
of OSAGO in the Russian Federation are analyzed [1],  
assessment of the cost of insurance companies [2], the role of auto  
insurance in the portfolio of insurance companies [3], analysis of  
the capital structure of insurance companies [4], the role of social  
insurance [5]. Currently, the insurance market designed to  
provide security, stability, social guarantees in society through a  
financial protection mechanism, and the development of the  
insurance market is one of the important strategic directions of the  
socio-economic policy of Russia [6-9]. The increasing role of the  
insurance market in raising the level of social protection of the  
population, increasing the volume of investments in the  
development of the economy, and exempting the state budget  
The object of the study is the insurance market in the Russian  
Federation at the present stage of development, as well as the  
Corresponding author: Svetlana Yanova, The St. Petersburg State University of Economics (UNECON), 21 Sadovaya str., St. Petersburg,  
91023, Russia. E-mail: ya_s_yu@bk.ru  
1
1549  
Journal of Environmental Treatment Techniques  
2020, Volume 8, Issue 4, Pages: 1549-1555  
processes taking place on it. The subject of the research is the  
current state and prospects for the development of the insurance  
market in Russia.  
voluntary medical insurance, auto insurance (KASKO), accident  
insurance and property insurance for legal entities. Let us analyze  
the dynamics of the volume of premiums by type of insurance in  
2013 - 2017 (Figure 2).  
Property insurance of legal entities has different dynamics in  
013 – 2017 years; it demonstrates an increase or decrease over  
2
Methods  
2
When writing the work, modern general scientific and special  
the analyzed period. Insurance premiums on insurance of property  
of legal entities decreased by 11,497,832 thousand rubles in 2017  
compared to 2016 year and amounted to 95 988 475 thousand  
rubles. Accident insurance as well as property insurance of legal  
entities has different dynamics in 2013 - 2017. The volume of  
insurance premiums for accident insurance in general increased  
by 27,483,463 thousand rubles in 2013 - 2017, as the increase in  
insurance premiums in 2014 and in 2016 - 2017 eliminates their  
decrease in 2015.  
Auto insurance, insurance premiums as a whole for the  
analyzed period decreased by 49,811,111 thousand rubles, so  
their decrease in 2015 - 2017 exceeds their increase in 2014.  
Voluntary health insurance had a positive development trend in  
research methods used, in particular: deduction, induction, factor  
analysis, synthesis, abstraction, generalization, system analysis,  
comparison. Sources of information for writing the article:  
teaching and methodological aids, articles from scientific journals  
and collections of scientific papers in the field of insurance and  
electronic resources, statistical materials of the Central Bank of  
Russia. [28-33]. The factor analysis was also used. For this, data  
from literature sources were used to select indicators to determine  
the characteristics of the development of the insurance market in  
Russia, as well as to identify problems and prospects for its  
functioning to increase the level of social protection of the  
population.  
2
013 - 2017. The volume of insurance premiums increased as a  
3
Researches Results  
whole by 25 041 781 thousand rubles for the analyzed period. The  
compulsory motor third-party liability premiums increased by  
At present, the Russian insurance market is in a difficult  
situation: insurers are under tremendous pressure from factors of  
other financial markets (stock market volatility, currency  
fluctuations, license reviews), and the difficult macroeconomic  
situation and the expansion of sanctions against Russia add  
uncertainty and risks. We begin the analysis of the insurance  
market in Russia with the dynamics of the volume of insurance  
premiums for all types of insurance, which during 2013 - 2017  
showed a positive trend (Figure 1).  
8
7,827,926 thousand rubles in 2017 compared to 2013. The  
volume of these insurance premiums reached the highest value in  
016 (234 368 827 thousand rubles), however this indicator  
2
slightly decreased in 2017. The volume of life insurance  
premiums has a positive trend in 2013 - 2017. It amounted to 331  
536 826 thousand rubles at the end of 2017, which is 115 796 662  
thousand rubles more than in 2016. This increase in life insurance  
premiums was affected by the dynamics of life insurance  
premiums for death, surviving to a certain age or period, with the  
condition of periodic insurance payments and with the  
participation of the insured in the insurer's investment income (the  
so-called investment life insurance), as well as pension insurance  
As noted above, insurance premiums for the analyzed period  
showed a positive trend. In particular, in 2017 insurance  
premiums increased by 98 210 007 thousand rubles compared  
2
016 and at the end of 2017 amounted to 1,278,841,595 thousand  
rubles. These changes significantly affected by the accelerated  
development of such types of insurance as life insurance,  
compulsory motor third-party liability insurance (OSAGO),  
[34, 35]. Consider the structure of the insurance market for the  
main types of insurance premiums (Figure 3).  
1
1
.4E+09  
.2E+09  
1278841595  
1180631588  
1023819318  
987772587  
1E+09  
904863559  
8
6
4
2
00000000  
00000000  
00000000  
00000000  
0
2013  
2014  
2015  
2016  
2017  
The volume of insurance premiums for all types of insurance, thousand rubles  
Figure 1: The volume of insurance premiums for all types of insurance in Russia for 2013-2017, thousand rubles  
Source: compiled by the authors based on [9, 28]  
1550  
Journal of Environmental Treatment Techniques  
2020, Volume 8, Issue 4, Pages: 1549-1555  
3
3
2
2
1
1
50000000  
00000000  
50000000  
00000000  
50000000  
00000000  
3
31536826  
2
34368827  
2
22075980  
62495762  
2
18554418  
218693047  
215740164  
2
12306873  
187237290  
170672096  
1
150917830  
137816419  
140007952  
21249279  
128956970  
1
14966171  
04285235  
124074582  
108530980  
1
1
107486307  
99993967  
0889483  
95503460  
95988475  
93765816  
8
84890345  
5
0000000  
0
2013  
2014  
2015  
2016  
2017  
Life insurance  
Auto insurance  
Accident insurance  
Voluntary health insurance  
Compulsory motor third-party liability insurance  
Property insurance for legal entities  
Figure 2: Dynamics of insurance premiums by type of insurance in Russia for 2013-2017  
Source: compiled by the authors based on [9, 28]  
In Figure 3, we see that auto insurance (CASCO) insurance  
had the largest market share and its share reached 23.46% in 2013.  
It should be noted that a significant share was also made by such  
types of insurance as compulsory motor third-party liability  
insurance (14.84%), voluntary medical insurance (12.71%);  
property insurance for legal entities (11.52%), and accident  
insurance (10.36 %) and life insurance (9.38%); the remaining  
premiums by type of insurance in 2013 did not exceed 4% of the  
insurance market.  
The situation has changed significantly over the next four  
years (period from 2014 to 2017). Life insurance had outstripping  
investment growth compared to all other types of insurance; this  
growth brought not only leaders, but also provided a leading  
position in the structure of the insurance market. Accordingly, the  
share of leaders of previous periods was declining, such as  
property insurance, hull insurance and compulsory motor liability  
insurance, which, together with maintaining low indicators of  
development of liability insurance and business risks, reflected  
the general slowdown in the growth of industrial production and  
investment in the national economy. Life insurance occupies the  
largest share at the end of 2017. The share of premiums for this  
type increased by 7.66 pp compared to 2016 and amounted to  
decreased by 30 (including 8 compulsory health insurance  
insurers) in 2017. As a result, 222 insurance and 4 specialized  
reinsurance companies remained on the market, registered in 37  
constituent entities of the Russian Federation at the end of 2017.  
3
The results discussion  
The analysis of the features of the insurance business in  
Russia allows us to identify the main factors that hinder the  
development of the insurance market. They have a character both  
intra systemic and related to the characteristics of the Russian  
economy. These factors include: (a) poor efficiency of the current  
regulatory and regulatory in the field of insurance; (b) insufficient  
level of economic opportunities of insurance entities; (c) low  
solvent demand for insurance services from the population and  
enterprises; (d) absence of new distribution channels and areas for  
improving the quality of sales of insurance products; (e) high  
degree of concentration of the insurance market and the  
monopolization of insurance services; (f) existing discrepancies  
with the requirements for solvency of insurers established by  
international standards; and (g) fraud in the insurance market and  
unfair competition. Let us present the main problems of the  
Russian market of insurance services and ways to solve them in  
the form of a table (Table 1). Examined the problems and  
prospects for the development of the Russian insurance market,  
we note that the domestic market is developing even in difficult  
economic conditions, it given great importance by the state, as  
evidenced by frequent amendments to the regulatory and legal  
framework of insurance, and more active participation of the state  
in the regulation of insurance activities. Therefore, despite the  
problems in the development of the insurance market, it has  
prospects for further improvement.  
2
5.93%. In addition, the share of accident insurance premiums  
increased and amounted to 9.48% in 2017. The share of OSAGO  
insurance premiums in 2017 compared to 2016 decreased by 2.48  
percentage points and amounted to 17.37%. The share of CASCO  
insurance premiums decreased, which amounted to only 12.71%  
in 2017. Property insurance premiums also decreased and  
amounted to 7.51%. The share of premiums for other types of  
insurance did not change significantly in 2017 compared to 2016.  
The number of insurance companies in the insurance market  
1551  
Journal of Environmental Treatment Techniques  
2020, Volume 8, Issue 4, Pages: 1549-1555  
Other Types  
2.05  
3
.58  
.29  
3.27  
3.83  
2.32  
2
,00  
Business Risk Insurance  
Air Transport Insurance  
Cargo Insurance  
3
.09  
.49  
4.01  
4.65  
4.36  
3
4
3
.3  
4.29  
3.91  
7
.51  
.48  
1
1.52  
0.36  
9.77  
9.1  
1
1.36  
Mandatory Personal Insurance  
Financial Risk Insurance  
Liability Insurance  
9
7.9  
9.15  
1
9
.67  
12.71  
14.46  
18.29  
22.13  
Property Insurance  
24.46  
10.95  
1
1.67  
Property Insurance for Legal Entities  
Accident Insurance  
12.6  
1
7.37  
5.93  
1
2.56  
1
2.71  
4.84  
1
9.85  
8.27  
Auto Insurance  
2
1.36  
2.67  
Voluntary Health Insurance  
1
5.28  
0.99  
1
2
The Compulsory Motor Third-Party Liability  
Insurance  
1
1
1
9
.38  
Life Insurance  
2
013  
2014  
2015  
2016  
2017  
Figure 3: The share of insurance premiums by type of insurance in Russia for 2013-2017 (Source: compiled by the authors based on [9, 28])  
The official data of the Bank of Russia on the dynamics of the  
insurance market in 2018 show that dynamic growth has  
continued, its pace has been the highest over the past 5 years,  
almost 8 times higher than GDP growth and amounted to 15.7%.  
the stagnation of the economy also turned out to be the trend of a  
continuing decline in fees in property insurance of legal entities  
(-7.8%).  
The high probability of stagnation and even recession of the  
insurance market is largely logical in the near future; as world  
experience shows that insurance develop steadily and rapidly in  
the context of high rates of economic growth, population incomes  
and an influx of significant investment volumes. The rapid growth  
of the insurance market was unprecedented until 2019; this due to  
the fact that financial intermediaries redirected significant  
investment flows from the banking sector to the insurance sector,  
which was not caused by the objective needs of the economy. In  
the forecast period, the growth of the insurance market will  
carried out mainly due to the growth in demand for personal  
insurance, associated not only with investments, but also with the  
provision of credit services and corporate social risk insurance.  
The smallest growth expected in the mandatory car insurance  
sector (Table 2).  
[33, 34] High growth of insurance fees, a significant decrease in  
the level of loss of insurance operations and good investment  
results allowed insurers to almost double (96.3%) the amount of  
their annual profit (ibid., р. 24). Personal insurance remained the  
main driver of growth, as in previous years; however, an intra  
sectoral shift in priorities outlined. The highest results were  
shown in accident and illness insurance (an increase of 39.8%),  
which, together with an increase in the life insurance of borrowers  
(
by 31.4%), is characterized by a shift in the focus of the insurance  
business from investment life insurance to the field of life and  
health risks persons upon receipt of consumer or mortgage loans.  
Once again, the market showed an increase in CASCO insurance  
premiums (by 3.8%), however, solvent demand from the  
population for car insurance again declined (-0.7%). A trend in  
1552  
Journal of Environmental Treatment Techniques  
2020, Volume 8, Issue 4, Pages: 1549-1555  
Table 1: Problems of development of the insurance market in the Russian Federation and solutions way  
Insurance market problem  
Solution method  
Low level of demand and unpreparedness of the population to accept  
insurance services; limited supply of insurance services targeted at  
various categories of consumers; low level of trust of insurers in insurers  
and in the insurance mechanism in general  
A. Promotion of insurance knowledge in the community  
B. Formation of insurance culture among citizens  
Disagreements and contradictions in the insurance legislation  
Improving the provisions of existing legislation governing insurance  
A. Training of specialists, creation of structures engaged in training and  
education  
Lack of qualified specialists  
B. Work in the field of personnel policy  
A. Strengthening government regulation in relation to the activities of  
insurance companies  
B. Improving the regulation of compulsory insurance.  
State regulation of the minimum and maximum values of insurance tariffs  
is necessary; development of a procedure for monitoring the applicable  
insurance rates, their validity and bringing its results to the public;  
consistent unification of the procedure for determining the amount of  
damage and insurance compensation for compulsory types of insurance.  
A. Development of additional security departments in insurance  
companies that develop their own limiters to reduce fraud in their  
insurance systems  
Inadequate supervisory activity of the Central Bank  
Fraud, market opacity; the presence of non-competitive actions, as well as  
a high level of concentration in the insurance services market; neglect of  
the rights and legitimate interests of policyholders by individual insurers  
B. Introduction of additional liability measures for violation of the rights  
of policyholders  
Expansion of the scope of insurance entities. Development of the  
insurance market infrastructure.  
Improving the stability and reliability of the insurance market  
infrastructure, as well as the efficiency and effectiveness of its activities,  
requires the implementation of a range of measures, in particular:  
development of the institution of insurance brokers and insurance agents;  
legislative regulation of actuarial activities, the formation of the institute  
of insurance actuaries, etc.  
Low standards of activity; a decrease in the quality of fulfillment of  
obligations by insurers under insurance contracts to policyholders; low  
level of intermediary services to consumers  
Source: compiled by the authors based on [44, 45]  
Table 2: Forecast of the dynamics of the insurance market and its individual segments  
Assessment of  
the growth  
rate of  
Prizes,  
Prizes,  
2019,  
billion contributions,  
rubles. 2019/2018,%  
Growth rate  
of  
Prizes, 2017,  
billion  
rubles.  
2
018,  
Insurance type  
Life insurance  
Key factors influencing the forecast  
billion  
rubles.  
contributions,  
2
018/2017,%  
Scenario 1: premium growth supported by further intensive sales  
of LIS by credit institutions and relatively low deposit rates.  
Scenario 2: the pressure exerted by the overflow of customer  
funds to other financial instruments; it is a result of the  
introduction of basic standards for the implementation of sales of  
LIS (including regulatory restrictive measures).  
5
3
75  
50  
28  
332  
450  
36  
-20-25  
Slowdown in growth is a result of increased interest rates on  
loans, the instability of tourist flow due to the volatility of  
exchange rates.  
Support provide by inflation of the cost of services of medical  
institutions, the popularization of critical illness insurance  
programs, and the development of telemedicine.  
Stagnation is a result of increased interest rates on loans, the  
expected slowdown in new car sales and the saturation of the  
segment with truncated insurance programs and franchised  
policies.  
Accident and Health  
Insurance  
1
1
21  
40  
140  
150  
16  
7
155  
160  
10–11  
6–7  
Voluntary health  
insurance  
Motor hull insurance  
162  
96  
165  
90  
2
165  
95  
0
Insurance of other  
property of legal  
entities  
(6)  
5–6  
Small market recovery after contraction in 2017 and 2018.  
Growth drivers -are “boxed” standard products and cooperation  
with banks.  
Changes in the tariff corridor will not have a significant positive  
impact on the dynamics of the volume of the OSAGO segment.  
Property Insurance  
OSAGO  
57  
63  
10  
69  
9–10  
1–2  
222  
222  
(0)  
226  
020–  
Insurance market  
excluding life  
insurance, total  
1
1
947  
990  
4–5  
3–5  
040  
Source: compiled by the authors based on [28]  
1553  
Journal of Environmental Treatment Techniques  
2020, Volume 8, Issue 4, Pages: 1549-1555  
The Strategy for the development of insurance activity of the  
Russian Federation until 2020, approved by the Government, is  
effective for the implementation of the insurance industry  
development directions. In order to advance the insurance sector  
to a strategically significant level, the following measures  
identified. First, improving regulation of compulsory insurance;  
stimulating the development of voluntary insurance. Second, the  
scope of activities of insurance entities expanding. Third, the  
optimization of the risk management system with the involvement  
of budget funds; forth, the development of agricultural insurance  
system; fifth, increasing the effectiveness of forms and methods  
of state control and supervision of insurance entities and ensuring  
their financial stability, as well as strengthening the role of the  
Russian insurance market at the international level [35-37].  
[3] Melnik NA, Chagli AI. Auto insurance in the portfolio of insurance  
companies. Scientific Bulletin: Finance, Banks, Investments. 2017;  
2
(39):56-60.  
[
4] Ermolenko GG, Mashyanova EE. Optimization of the capital  
structure of insurance organizations. Scientific Bulletin: finance,  
banks, investment. 2018; 3(43):49-56.  
[5] Vorobyov YuN, Vorobyova EI. Pension insurance in Russia.  
Scientific Bulletin: Finance, Banks, Investments. 2018; 3(44):45-57.  
[6] Borsch L, Burkaltseva D, Vorobyov Yu, Vorobyоva E, Chepurko, V.  
Dichotomy or unification of contrasts of the market and capitalism:  
Forecast and plan (part 1). International Journal of Economic  
Research. 2016; 13(9):3775-3787.  
[
[
[
[
7] Borsch L, Burkaltseva D, Vorobyov Yu, Vorobyeva E, Chepurko V.  
Dichotomy or unification of contrasts of the market and capitalism:  
Forecast and plan (part 2). International Journal of Economic  
Research. 13(9):3789-3801.  
8] Nikitina MG, Pobirchenko VV, Shutaieva EA, Karlova AI. The  
investment component in a nation's economic security: the case of the  
Russian Federation. Entrepreneurship and sustainability issues.  
4
Conclusion  
Currently, under this strategy, an active reform of the Russian  
2
018;.6(2):958-967. Available from: DOI: 10.9770/jesi.2018.6.2(32)  
insurance market is underway, but due to the crisis processes in  
the economy, the implementation of its measures in full is  
somewhat difficult. The conjuncture of the insurance market is  
quite sensitive to economic fluctuations; therefore, in the future  
its development will also depend on economic and political  
factors, external and internal threats. The solution of many issues  
is the use of block chain technologies. At the same time, pilot  
implementation with subsequent scaling is required and directly  
legal regulation of digital innovations in Russia. Further research  
needs to optimize the budget risk management in the context of  
digitalization.  
9] Nikitina MG, Pobirchenko VV, Shutaeva EA, Barsegyan AG, Dyatel  
VN, Abibullaev MS. Formation of the practice-oriented educational  
paradigm on the basis of the competence approach. Opcion. 2019;  
35(S20):2348-2365.  
10]Ivanov PI, Burkaltseva DD, Arzumanov RM, Grischenko LL,  
Zhirnov YuN, Pestov NN, Oleynik AS, Uryadov YuYu. Risks and  
Legal Opportunities of National Projects: Modeling Security.  
International Journal of Innovative Technology and Exploring  
Engineering. 2019; 9(2):4266-4273.  
[
11]Burkaltseva D, Vorobyov Yu, Borsh L, Gerasimova S, Chepurko V.  
Structural modelling the system of ensuring the economic security of  
the complex territorial socio-economic system of the eurasec.  
International Journal of Applied Business and Economic Research.  
2
016; 14(9):5683-5704.  
Aknowledgment  
[
12]Burkaltseva DD, Tsohla SYu, Guk OA, Borovskaia LV, Bondar AP.  
Basic forms of institutional changes of economy in Russia.  
International Journal of Applied Business and Economic Research.  
2016; 14(15):11137-11152.  
[13]Burkaltseva DD, Voronin IN, Lisitsky АM, Mazur NM, Guk OA.  
Assessing the Effects of Investments Into Innovative Activity as a  
Regional Competitiveness Factor. International Journal of Applied  
Business and Economic Research. 2017; 15(8):11-27.  
The study was carried out with the financial support of the  
Russian Science Foundation within the framework of the  
scientific project "Interaction of social institutions as the basis of  
Russia's economic security in the context of globalization".  
Ethical issue  
Authors are aware of, and comply with, best practice in  
publication ethics specifically with regard to authorship  
[
14]Burkaltseva DD, Borsch LM, Blazhevich OG, Frolova ЕЕ, Labonin  
IV. Financial and economic security of business as a primary element  
in the economic system. Revista Espacios. 2017; 38(33):3.  
(
avoidance of guest authorship), dual submission, manipulation  
of figures, competing interests and compliance with policies on  
research ethics. Authors adhere to publication requirements that  
submitted work is original and has not been published elsewhere  
in any language.  
[15]Sivash OS, Burkaltseva DD, Ushakov DS. Activization of Investment  
Process in the Agrarian Sector. International Journal of Ecology and  
Development. 2017; 32(4):169-182.  
[
16]Vorobyov YuN, Burkaltseva DD, Kovalyova IN, Borsch LM,  
Gerasimova SV. Sustainable Development of the Regional Economy:  
Indicators, Analysis, Systematization. Journal of Advanced Research  
in Law and Economics. 2018; 9(2):729-739.  
Competing interests  
The authors declare that there is no conflict of interest that  
would prejudice the impartiality of this scientific work.  
[17]Burkaltseva DD, Betskov AV, Kilyaskhanov HSh, Demin GI,  
Grischenko LL, Timoshenko OE, Tyulin AS. Psychological Features  
of Cybercriminal Behavior in Committing Financial Crimes under  
Conditions of Digital Transformation of Socioeconomic Systems.  
Opción. 2018; 34(85):1642-1653.  
[18]Burkaltseva DD, Betskov AV, Kilyaskhanov HSh, Demin GI,  
Grischenko LL, Timoshenko OE, Tyulin AS. Psychology of Criminal  
In Conditions Of Socioeconomic System Transformation. Opcion.  
Authors’ contribution  
All authors of this study have a complete contribution for data  
collection, data analyses and manuscript writing.  
2
019; 35(SI19):2872-2882.  
References  
[
19]Klimchuk SV, Sivash OS, Burkaltseva DD, Nekhaychuk DV, Gurova  
VA, Kilyaskhanov HSh, Zotova SA. Time Lag in the System of  
Financial Transformations. International Journal of Recent  
Technology and Engineering. 2019; 8(3):40-45. Available from:  
DOI: 10.35940/ijrte.C3869.098319  
[
1] Bodner GD, Antonenko DI. The current state and problems of the  
development of CTP in the Russian Federation. Scientific Bulletin:  
finance, banks, investment. 2015; 4(33):111-116.  
[2] Vorobyov YuN, Vorobyova EI. Evaluation of insurance companies.  
Scientific Bulletin: Finance, Banks, Investments. 2016; 3(36):53-63.  
[
20]Gerasimova S, Burkaltseva D, Borsch L, Apatova N, Vorobyоva E,  
Zharova A, Ivanov S, Zaytseva I. Multi-level transformation  
1554  
Journal of Environmental Treatment Techniques  
2020, Volume 8, Issue 4, Pages: 1549-1555  
processes: digital technologies in the economy. International Journal  
of Innovative Technology and Exploring Engineering. 2019;  
8
(12):419-425.  
[
21]Korobeynikova ОМ, Korobeynikov DА, Popova LV. Scenarios of  
digital innovation of the payment market in Russia. In: Advances in  
Social Science, Education and Humanities Research. Vol. 240.  
Proceedings of the 2nd International Scientific conference on New  
Industrialization: Global, national, regional dimension (SICNI 2018),  
St. Petersburg, Russia, October 26-27, 2018. St. Petersburg: Atlantis  
Press; 2018. p. 174-178. Available from: https://www.atlantis-  
press.com/proceedings/sicni-18/55911830  
[
22]Vorobyova E, Burkaltseva D, Borsch L, Blazhevich O, Guk O,  
Shalneva V, Kilyaskhanov H, Zotova S. Calculation of Indicators of  
Investment Attractiveness of the Region. International Journal on  
Emerging Technologies. 2019; 10(3):69-76.  
[
23]Burkaltseva DD, Borsch LM, Blazhevich OG, Frolova ЕЕ, Labonin  
IV. Financial and economic security of business as a primary element  
in the economic system. Revista Espacios. 2017; 38(33):3.  
[
24]Burkaltseva DD, Voronin IN, Lisitsky АM, Mazur NM, Guk OA.  
Assessing the Effects of Investments Into Innovative Activity as a  
Regional Competitiveness Factor. International Journal of Applied  
Business and Economic Research. 2017; 15(8):11-27.  
[
25]Blazhevich OG, Burkaltseva DD, Shalneva VV, Betskov AV,  
Kilyaskhanov HSh, Bondar AP, Zotova SA. Assessment of financial  
security in the chemical industry of the Republic of Crimea. Journal  
of Pharmaceutical Sciences and Research. 2018; 10(6):1377-1385.  
26]Jallal МAK, Burkaltseva D, Vorobyоva E, Apatova N, Blazhevich O,  
Betskov A, Kilyaskhanov H, Shcheglova S, Mosina I. Development  
of the Crimean Agriculture. International Journal of Innovative  
Technology and Exploring Engineering. 2019; 9(2):1644-1661.  
Available from: DOI: 10.35940/ijitee.B7650.129219  
[
[
27]Gerasimova S, Zaytseva I, Burkaltseva D, Borsch L, Apatova N,  
Vorobyоva E, Zharova A, Ivanov S. Multi-Level Transformation  
Processes: Digital Technologies in the Economy. International  
Journal of Innovative Technology and Exploring Engineering. 2019;  
8
1
(12):419-425.  
0.35940/ijitee.L3315.1081219  
Available  
from:  
DOI:  
[
[
[
28]Central Bank of the Russian Federation. Available from:  
http://www.cbr.ru/  
29]Insurance http://www.insur-  
info.ru/statistics/analytics  
30]Knyazeva EG, Yuzvovich LI, Smorodina EA, Pavlenko AO. Russian  
insurance market: modern development challenges.  
today.  
Available  
from:  
Fundamental'nyye issledovaniya [Basic research]. 2015; 3:181-186.  
31]Klerk. Directions for the development of insurance until 2020; 2013.  
Available from: http://www.klerk.ru/boss/articles/343309/  
[
[
[
[
32]Insurance Help Portal. Available from: http://risk-insurance.ru  
33]Insurance News Agency. Available from: http://www.asn-news.ru  
34]Abibullaev MS, Shcheglova SS. Insurance of property of  
1
Abibullaev MS, Shcheglova SS. Insurance of property of individuals:  
current state and development prospects in the Russian Federation.  
Scientific Bulletin: finance, banks, investments. 2018; 1(42):75-81.  
35]Scheglova SS, Kondratieva AS. Assessment of the current state of the  
sphere of compulsory medical insurance in the Russian Federation.  
Scientific Bulletin: finance, banks, investment. 2016; 3(36):71-76.  
[
1555