UNDERWRITING CYCLES AND COMPETITION IMPACT IN EVALUATION OF INSURANCE COMPANY’S EFFECTIVE STRATEGY
The paper considers competition accounting in evaluation of effective strategy of insurance company with underwriting cycle. We describe the dynamics of competition in the insurance market and show the relation of competitive interactions with the change of phases of soft and hard market. Regions where the shifts of loss ratios occur are discovered. The values of the competitive effect of the trend for decreasing and increasing rates are estimated, and recommendations on the determination of competitive effect for reducing the effects of level shifts and loss in discovered regions are given.