After three days of debate, the VI-th International Carpathian Insurance Conference was concluded on February 18, 2010, in Yaremche. The forum was co-hosted by the Center for Business Strategies “Perspectives” and the League of Insurance Organizations of Ukraine. It brought together local and international delegates with speakers from Belarus, Germany, Latvia, Moldova, Russia, Uzbekistan, Ukraine, United Kingdom and France. The topics of the forum were wide-ranging: from the prospects of development of external and domestic insurance markets to the pressing issues of constituting finances in Ukraine.

The Conference saw representatives of the Verkhovna Rada Committee on finance and banking, the State Commission for Regulation of Financial Services of Ukraine, State Tax Administration of Ukraine, the League of Insurance Organizations of Ukraine, the Motor (Transport) Insurance Bureau of Ukraine, the Federation of insurance intermediaries in Ukraine, International Finance corporations – to name just few.

The Conference was attended by Elena Zhylich, Miratech Director of Product Development. She introduced the insurers with the company’s services and offers, which in many ways are unique to the domestic market. In addition, Elena Zhylich and Vitaliy Nechiporenko, director of the Center for Business Strategies “Perspectives”, provided participants with the latest issue of the magazine Financial Services, which central theme became immediacy and scale of measures necessary to maintain and make banking business under recession more efficient. Commenting on the results of the Conference, Elena Zhylich noted that “the changes that occur in the global economy, entail changes in the insurance market of Ukraine: the number of players is changing, some companies will be closed. In order to be successful in this situation, the insurance companies should pay full attention to improve their business processes, which are an integral part of IT systems.”

Confirming the high level of Carpathian forum, the achieved consensus had helped the attendees shape a role for information technologies in dealing with the economic slowdown. The strongest reports from Russia, Azerbaijan, Belarus and England not only showed that a discussion of current issues and trends in the industry needs addressing through IT, but many participants stressed the need for effective coordinated strategies to proceed to the implementation of solutions and models of cooperation, which are being offered by domestic suppliers of IT services for the financial sector.