IMPROVING THE METHODOLOGY FOR TRANSFORMING THE INSURANCE MARKET UNDER CONDITIONS OF ECONOMIC GLOBALIZATION AND DIGITALIZATION
Keywords:
insurance market; globalisation; digitalisation; market transformation; competitiveness; digital maturity; underwriting; claims management; cyber risk; data governance; model risk; regulation.Abstract
The paper substantiates an enhanced methodology for analysing insurance market transformation under economic globalisation and digitalisation, with Uzbekistan as the case context. It argues that transformation assessment should extend beyond volume-based indicators (premiums, assets, number of firms) and incorporate digital maturity, customer outcomes, operational efficiency, and risk governance. Using official market statistics and regulator-reported indicators, the study documents shifts in premium and claims dynamics, as well as structural changes related to consolidation, distribution reconfiguration, and the strengthening of actuarial capacity. An integrated analytical framework is proposed to connect insurers’ digital capability building with sustainable competitiveness and supervisory objectives.
References
Eling, M., & Lehmann, M. (2018). The impact of digitalization on the insurance value chain and the insurability of risks. The Geneva Papers on Risk and Insurance – Issues and Practice, 43, 359–396. https://doi.org/10.1057/s41288-017-0073-0
European Insurance and Occupational Pensions Authority (EIOPA). (2024). Report on the digitalisation of the European insurance sector (EIOPA-BoS-24/139).
OECD. (2024). Global Insurance Market Trends 2024. OECD Publishing. https://doi.org/10.1787/5b740371
Stricker, L., Wagner, J., & Zeier Röschmann, A. (2023). The future of insurance intermediation in the age of the digital platform economy. Journal of Risk and Financial Management, 16(9), 381.
The Geneva Association. (2025). Gen AI in the insurance customer journey (Report).
Shennaev, X. M. (2021). Oʻzbekiston Respublikasida sugʻurta faoliyatini rivojlantirish yoʻnalishlari (Monografiya). T.: Iqtisod-moliya.
Yuldashev, O. T. (2022). Oʻzbekistonda hayot sugʻurtasini rivojlantirishning konseptual asoslari (Doctoral dissertation). T.: TMI.
Abduraxmonov, I. X. (2010). Oʻzbekiston Respublikasida javobgarlikni sugʻurtalashning amaliyotini takomillashtirish (PhD dissertation abstract).
Mavrulova, N. A. (2023). Umumiy sugʻurta sohasini rivojlantirish yoʻnalishlari (Doctoral dissertation). T.: TMI.
Ikramova, K. (2025). Sugʻurtada moliyaviy texnologiyalar: raqamli transformasiya va innovasiyalar. *, 4-son.
Akhmatovich, K. S. (2025). DEVELOPING A GREEN ACCOUNTING METHODOLOGY IN UZBEKISTAN: LESSONS FROM THE MALAYSIAN EXPERIENCE. Ustozlar uchun, 1(1), 677-683.
Sherzod, K., & Akram, K. (2020). Improvement of National Accounting Standards Based on IAS 7. Бюллетень науки и практики, 6(11), 294-299.
Khalilov, S. A. (2020). Recognition of revenue from operating activities in construction organizations in accordance with IFRS 15. European Researcher. Series A, (11), 218-224.
Akhmatovich, K. S. (2025). Improvement of green accounting methodology in Uzbekistan: Experience of developed countries. Ustozlar uchun, 1(1), 684-689.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2026 GEJournals
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
