Online Sale of Insurance Policies in Uzbekistan
If you are planning a trip to Uzbekistan, you will need to purchase an international medical insurance policy. Luckily, you can buy insurance policies online. You can also get assistance from your insurance agent. However, it is important to remember that prices will be higher than the local ones. Having access to quality healthcare can be expensive, especially if you are not a native of Uzbekistan. Страхование E-OSAGO KASKO в Узбекистане https://sugurtabozor.uz/.
The insurance market in Uzbekistan is a fairly small one. Yet, the sector is growing rapidly. In particular, the share of the insurance market in the national economy has risen to 0.3 to 0.4 percent of GDP over the past 15 years. This level of development is not sufficient for the sector to catch up with the fast-growing macroeconomic indicators of the country.
As a result, the government has been offering tax incentives to the insurance sector. Despite this, business are hesitant to deal with insurance companies. Therefore, it is imperative to develop a positive attitude of the population towards insurance. Furthermore, it is necessary to promote various types of voluntary and compulsory medical and agricultural insurance.
While the number of registered insurance companies is increasing, the share of the market is relatively low. Most of them are located in Tashkent. Besides, regional branches are not developed in the country.
The Uzbek insurance market is characterized by high concentration of actors. There are five major companies holding 55 percent of the total insurance premiums in the country. Some companies have multiple regional representatives. Still, the majority of insurance companies operate in Tashkent.
Agricultural insurance in Uzbekistan is almost nonexistent. However, mutual insurance could play an important role in the agricultural sector. It may be one of the most effective ways to encourage farmers to participate in the insurance market.
Mutual insurance is based on the idea of mutual help and protection. Although the sector is developing, agricultural producers are not yet acquainted with the mechanism of insurance. Thus, it would be beneficial to enact legislation that would clearly define the principles of agricultural insurance. Further, the law should be able to provide conditions for profitable agricultural enterprises and increase the income of farmers.
One company, ALSKOM Insurance Company, has made significant progress in the Uzbek insurance market. The company has introduced electronic insurance policies, offered new products for the market, and established 14 branches in the regions of the country. It has also begun to cooperate with the leading Russian insurance company.
The Deputy General Director of the company received an award for his contribution to the development of the Uzbek insurance market. The State Insurance Inspection ranked the company ninth in 2010 for its collection of insurance premiums. Moreover, it has been awarded the MV 001 series No. 000009.
The company has also initiated compulsory insurance of civil liability of vehicle owners. In addition, the company has also entered into an obligatory reinsurance contract with the leading Russian insurance company OJSC ROSNO.
Among the most prominent achievements of the company are the introduction of a mobile banking system for insurance policy sales and the creation of a mobile database with remote connection of all regional divisions. In addition, the company introduced a voluntary medical insurance program.