Uzbekinvest presented the economic reforms in Uzbekistan at the global insurance forum in Monte Carlo

Within the framework of the annual global forum held in Monte Carlo (Monaco) with the participation of the heads of the world’s leading insurance companies, a presentation was made by the insurance company “Uzbekinvest” on the economic reforms being implemented under the initiative and leadership of President Sh. M. Mirziyoyev.

The conference participants highly praised the large-scale reforms in the country, emphasizing that they have ensured rapid economic growth, attracted $130 billion in direct foreign investments, accelerated the country’s integration into global economic relations, contributed to employment growth, significantly reduced the poverty level of the population, and led to other positive changes.

In particular, the participants of the global insurance forum highly appreciated the great achievements made in Uzbekistan in the field of digitalization and the introduction of artificial intelligence.

In particular, the processes of digitalization and the introduction of artificial intelligence in Uzbekistan’s insurance market have aroused great interest. In this regard, “Uzbekinvest” is recognized as a leader. Thanks to the consistent implementation of mobile applications, Face ID technologies, an AI-based scoring system, a cloud data warehouse, and other elements, the risk assessment processes in 85 percent of insurance services are now carried out using artificial intelligence technologies.

This has significantly reduced service times and operational costs for clients, lowered the loss ratio of insurance products, and contributed to increasing the company’s efficiency.

Based on the presentation and the subsequent discussions, the forum participants noted that in recent years Uzbekistan has become a recognized driver of economic growth and development in Central Asia. 

As a result of the meetings and negotiations, “Uzbekinvest” signed a number of agreements aimed at expanding mutually beneficial cooperation with leading insurance, reinsurance, and brokerage companies from Europe, Asia, North America, and the Middle East.