DIGITAL TRANSFORMATION AND FINANCIAL SUSTAINABILITY OF THE INSURANCE MARKET: EVIDENCE FROM UZBEKISTAN

This article investigates how digital transformation can strengthen the financial sustainability of the insurance market in Uzbekistan. The study combines descriptive statistics, ratio analysis, comparative analysis and institutional review. Official data of the National Agency for Prospective Projects and the Central Bank of the Republic of Uzbekistan are used together with international evidence from the Swiss Re Institute and OECD-oriented digitalisation research. Uzbekistan’s insurance market has expanded rapidly: in 2024 insurers collected UZS 9.8 trillion in premiums, paid UZS 2.2 trillion in claims and held UZS 11.8 trillion in aggregate assets. In the first half of 2025, premiums reached UZS 6.2 trillion, 46% above the corresponding period of 2024, while insurance payments increased by 12% to UZS 1.2 trillion. Insurers’ investments reached UZS 8.3 trillion as of 1 July 2025, up 36% year on year. The article argues that sustainable development requires more than premium growth. Digital billing, electronic claims, data-driven underwriting, automated compliance and diversified investment management can improve efficiency and resilience, but they must be accompanied by consumer protection, cybersecurity and trust. A Digital Insurance Sustainability Framework is proposed for Uzbekistan, linking digital access, operational efficiency, claims quality, investment resilience and institutional trust. The paper concludes with policy recommendations for regulators and insurers.