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Innovative Implementation of AI in Insurance by Uzbekinvest Boosts Market Growth

in Economy / Uzbekistan - by


Uzbekinvest is leading the way in Uzbekistan's insurance market by fully transitioning 15 types of insurance policies to electronic formats. This move enhances service transparency, expands data storage capabilities, and streamlines information processing. With the support of international IT partner GlowByte, Uzbekinvest has launched a real-time pre-insurance check system (Talys.SDE) powered by artificial intelligence technologies. This innovative system enables the processing of data from 87% of the company's client base.

In 2023, Uzbekinvest maintained its position as a key player in mandatory car insurance, securing over 809 thousand contracts with car owners. The introduction of new insurance products resulted in a significant increase in insurance premium collection from individuals, reaching 105 billion sums, marking a 168% growth compared to 2022. Throughout 2023, car owners received over 19.4 billion sums in insurance compensations.

Looking ahead to 2024, Uzbekinvest aims to accelerate its digitalization efforts by integrating artificial intelligence into risk assessment and decision-making processes across various insurance sectors. The company also plans to develop new innovative insurance products on digital platforms and mobile applications for both individual and corporate clients. For more information, contact Uzbekinvest at (+998) 71-207-60-00 or visit their website insurance.uz.