PROSPECTS FOR THE DEVELOPMENT OF THE LIFE INSURANCE SYSTEM IN UZBEKISTAN
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Abstract
This study examines the current state and development prospects of the life insurance system in Uzbekistan. Life insurance is an essential component of financial security, providing protection for individuals and their families against unexpected life events. The research highlights key factors influencing the growth of life insurance, including regulatory frameworks, market demand, public awareness, and technological innovations. It also analyzes challenges such as low insurance penetration, limited financial literacy, and infrastructure constraints. The findings indicate that by improving regulatory policies, increasing awareness, introducing innovative life insurance products, and leveraging digital technologies, Uzbekistan can strengthen its life insurance system and enhance the overall financial well-being of its population.
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References
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