Artificial intelligence is changing the world in unprecedented ways and redefining all areas of human activity. In recent decades, the development of AI has progressed at an extraordinary pace. This study examines the scope of implementing AI in the financial sector, insurance, and financial controlling. The research team focuses on these areas, as the main objective of this review is to provide a comprehensive walk-through and to fill the gaps in the literature related to AI implementation in finance, insurance, and financial control from an economic perspective. We provide a comprehensive overview of AI implementation in finance, insurance, and financial controlling, highlighting crucial issues in that process and identifying the relationship between the development of these economic sectors and AI. The authors’ team identifies the trends and main themes in the existing literature in AI-related publications in finance, insurance, and financial control. We discuss the main advantages and disadvantages of AI implementation, identified by our research, and also make some suggestions regarding future research having in mind the interdisciplinary of the topic, the vast development of AI and technologies, and the increasing demand for AI-based solutions, services and products.

Objective: This study aims to investigate the consequences and boundaries of technological innovation's influence on financial literacy in the context of the COVID-19 pandemic. Theoretical Framework: The research investigates the nature of financial literacy and digital financial literacy and its relation to sustainability. Additionally, interrelations between digital financial literacy and Artificial Intelligence and the way COVID promotes digital financial literacy improvement are presented. Method: The research methodology is based on content analysis, comparative analysis and impact analysis. The data collection was carried out through a survey. The survey was carried out using the method of the respondents and the selection included all voluntary respondents. The survey was conducted in an online environment using Google Workspace tools, in particular Google Forms, and was self-administered by the authors. Results and Discussion: The results revealed a positive attitude of users towards digital technologies in the conditions of a pandemic crisis and this inevitably leads to an increase in financial literacy. These results highlight the role of digital financial literacy and technology in achieving better financial behaviour and resilience during the pandemic. They also show the limitations of their effectiveness in certain aspects, such as the formation of financial attitudes. Research Implications: The operational and conceptual consequences of the study are examined, presenting perspectives on how outcomes might be implemented or influenced by methods employed in financial literacy development. These ramifications could include AI adoption, digital culture improvement, and so forth. Originality/Value: This study contributes to the literature by examining the relationship between financial literacy and artificial intelligence in the context of the COVID-19 epidemic. The fast adoption of artificial intelligence and the necessity for increased financial literacy demonstrate the relevance and significance of this research.

In the world practice there is interweaving of various economic activities, including activities in the field of banking and insurance. This fact inevitably raises the question of the relationship and interaction between the insurance companies and the commercial banks. An example of this collaboration over the last three decades is the so-called “bancassurance”. Its main purpose is the possibility of distributing insurance services by the use of the banking network by the insurance companies. In this study an attempt has been made to present the practice of applying bancassurance in Bulgaria and the benefits for customers, commercial banks and insurance companies are derived.

The chapter is focused on the study of the effect of the processes caused by the global COVID-19 pandemic on the health insurance market in Bulgaria – a field of business with a high return on investment and an exceptional public benefit, while at the same time suffering from a deficit of research, which necessitates the need for more in-depth and up-to-date scientific analysis and studies. In this regard, referring to the official statistical data of the Financial Supervision Commission, an analysis is made of the key indicators for the development of the insurance market in Bulgaria during the period 2017-2022, indicating the factors that influence the main processes taking place in it. The main result is expressed in confirmation of the thesis, that there is high market concentration in the current health insurance market, in favor of a few insurance companies performing a key role in it, and on the market, there is growth in terms of gross written premium income, also provoked by COVID-19. Request access from your librarian to read this chapter's full text.

According to the World Bank 1.5% of the Bulgarian population lives below $1.90 per day. For a population of Bulgaria as of 31st December 2014, comprising 7 202 198 people, this share covers approximately 108 032 people. At the same time, in relation to the implementation of social assistance activities, according to the Social Assistance Act (SAA) and the Regulation on the Implementation of the Social Assistance Act (RISAA), from the begging of 2014 until the end of December of the same year under the Regulation on the Implementation of the Social Assistance Act with one-of, targeted and monthly social benefits in the country, a total of 63 932 persons and families were supported. This fact demonstrates an alarming trend in particular that not a small number of people remain out of the coverage of the publicly organized social assistance system – approximately 44 100 people, who are not eligible for social benefits for various reasons. All this gives us reason to look for alternative solutions to improve social protection, especially to those being absolutely poor in our country. One of these alternatives, which is widespread in the world and unfortunately almost unknown in our country, is microinsurance. The latter has the potential to increase the social security of those who are in extreme poverty and to expand the activity of the insurance companies in Bulgaria.