REGIONAL MARKETING APPROACHES IN INSURANCE COMPANY ACTIVITIES: SUCCESSFUL TOOLS AND PRACTICES

Abstract

Relevance. Strengthening and maintaining the economic potential for development and recovery in the face of security challenges and threats is impossible without leveraging the instruments of the insurance market. Its functioning under martial law must adapt to the needs of specific territories and their inhabitants, taking into account the requirements of internally displaced persons, relocated businesses, and businesses operating in areas close to active hostilities. In this context, regional marketing emerges as an adaptive tool for the insurance business. It serves as an effective instrument for optimizing business processes, attracting new clients, enhancing market competitiveness, and supporting the integrity of reproductive processes within regions.

The purpose of the study lies in highlighting the role of regional marketing in the activities of insurance companies as a universal instrument for harmonising the interests of the subjects and objects of insurance and for optimising insurance programmes under contemporary challenges.

Methods. The theoretical and methodological foundation of this article encompasses fundamental provisions of contemporary economic science, as well as works by domestic and foreign scholars and practitioners. The research employs a systemic, marketing, innovative, and process-oriented approach. Methods of systemic, structural, and factor analysis were utilized during the research process.

Results. The essence and constituent elements of the functional mechanism of regional marketing within the organization of insurance business have been identified. It is presented as a complex of managerial and operational processes aimed at optimizing the interaction of insurance companies with their target audience within specific geographical units, considering regional risks, consumer preferences, and the regulatory environment. This necessitates adapted strategies to maximize the effectiveness of insurance activities. It has been demonstrated that regional marketing is not merely a tool for the geographical localization of insurance business, but rather an instrument for competitive positioning through the adaptation of product offerings, optimization of distribution channels, and the development of communication strategies by creating and implementing marketing communications that account for the economic, cultural, social, and demographic characteristics of a given region.

Prospects. Future research on regional marketing in the activities of insurance companies should focus on analyzing demographic shifts and migration trends that insurance companies must consider when forming their product portfolios. Furthermore, it should involve substantiating the organizational and scientific principles for utilizing big data analytics and artificial intelligence to study consumer behavioral models at the regional level, with the aim of precise targeting of advertising campaigns and the development of personalized products.

Keywords: regional marketing, insurance business, insurance products, competitive positions, regional communication strategy.