FOREIGN EXPERIENCE IN DEVELOPING PERSONAL INSURANCE

Bazarov Zakir Khankulovich
PhD, Associate Professor, Department of Insurance, Tashkent State University of Economics, Tashkent, Uzbekistan. Email: b.zakir@tsue.uz
ORCID: 0009-0006-8004-0644
JEL Classification: E1,M1
Abstract: This scientific work analyzes the experience of foreign countries in the development of personal insurance, and on the example of developed countries such as Germany, Japan, the USA, and Sweden, regulatory mechanisms, a model of cooperation between the public and private sectors, the level of insurance coverage of the population, and innovative approaches are studied. Based on foreign experience, ways to increase the economic efficiency of personal insurance, strengthen the trust of citizens, and diversify the social protection system are identified. According to the results of the study, the need to adapt advanced practices in foreign countries, accelerate digitalization processes, and increase financial literacy in the development of the insurance market of Uzbekistan is justified.
Keywords: Personal insurance, Insurance market, Foreign experience, Public-private partnership, Financial literacy, Insurance regulation, Insurance premium, Population coverage, Social protection, Digitalization, Innovative approaches, Insurance policy, Types of insurance, International experience.