Authors : N.N. Masyuk, L.K. Vasyukova, M.A. Bushueva, N.A. Mosolova and O.V. Kozminykh
Abstract: The study explores the essence of insurance in terms of objectives of participants involved in insurance economic relations. These contradictory objectives, together with the dual role of the insurer in the processes of insurance and reinsurance are the fundamental factors influencing the development of the insurance market. The study analyzes the possibility of conflict resolution through the paradigm of conflict-compromise management. The researchers demonstrate the advantages of the conflict-compromise methodology in resolving conflict between the participants of the insurance market. The use of this methodology facilitates elimination of managerial dysfunctions in managing the risk of the policyholder and the insurer through achieving local compromises. The researcher of the study consider the insurance risk model as a logical conjunction of the policyholde’s loss risk probability and the size of these losses caused by dangerous fortuitous events. The researcher consider risk prevention and adjustments in insurance rate structure as ways to eliminate contradictions for the benefit of the main insurance market participants.
N.N. Masyuk, L.K. Vasyukova, M.A. Bushueva, N.A. Mosolova and O.V. Kozminykh, 2016. Conflict-Compromise Methodology for Resolution of Conflict in Insurance Relations. The Social Sciences, 11: 6928-6932.