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"Talqin va tadqiqotlar" Respublika ilmiy-uslubiy jurnali №7
THE ROLE OF DIGITALIZATION IN THE
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DEVELOPMENT OF THE INSURANCE SYSTEM
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Zarinabonu Faxriddin qizi Faxriddinova
Student of the National University of Uzbekistan named after Mirzo Ulugbek https://doi.org/10.5281/zenodo.6899830
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Annotation: In the conditions of globalization, the degree of digitization of the
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economy is of great importance in determining the competitiveness of countries. No matter which branch or sector of the economy we look at, we see the place of digital technologies in all of them. The share of innovative digital technologies is increasing, starting from services in the country's banking system and at the level of public services. In the present period, ensuring the development of industrial production on the basis of innovative technologies is becoming an urgent issue. According to the
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world expert, the formation and implementation of innovative strategies for the
development of canoat enterprises is an important factor in coordinating their production activities with the requirements of the domestic and foreign markets.
Key words: insurance system, innovative technologies, corruption, combating
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fraud, "sharing-economy", GDP, telecommunication infrastructure.
Interest in the digital economy has grown significantly due to significant
changes taking place in society and the economy. Modern technologies and platforms
have helped businesses and individuals reduce costs by minimizing personal . . . ....
interactions with customers, partners, and government organizations, as well as
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making communication faster and easier. The result is a digital or electronic economy based on network resources. Insurance activity, which is an important component of the financial market, is of great importance in the socio-economic development of any country. Therefore, at present, the development of the insurance market in our country, increasing the confidence of consumers in insurance, the introduction of foreign experiences and achievements of information and communication technologies, the creation of the most optimal and attractive insurance services, the J-jt
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attraction of investments in the insurance sector through the issuance of securities, the
prevention of corruption and insurance based on international standards and principles attention is being paid to topical issues such as combating fraud.
As the President of our Republic Sh.M.Mirziyoyev stated in his address to the Oliy Majlis on January 24, 2020, "In order to achieve progress, we need to acquire digital knowledge and modern information technologies. This gives us the opportunity to take the shortest path to ascension. After all, today information
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technologies are deeply penetrating all areas of the world." At the same time, it was * : j*
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recognized that from now on in our country, ".....modern insurance services will be
established..."[1]. This, of course, requires the development of a new, modernized insurance system in Uzbekistan in accordance with world standards, and the introduction of new innovative insurance products.
Today, there are 30 insurance companies in our republic, 24 of which specialize in general insurance and 6 in life insurance. [2] The choice of our country to develop the digital economy opens up new directions in the field of information technology and in general, in the field of electronic document circulation. The turn to "digital
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technologies" was caused by the development of the global Internet network and quality communication. As a result, it became possible to exchange and collect a large amount of information, which, in turn, allows us to process the collected information, see the future, make informed decisions and use it in a variety of ways. For all this, it will be necessary to create a compatible infrastructure, in other words, an ecosystem of global information platforms. However, there are risks (dangers) such as loss of data, business, job losses, security and the need for modernization. These issues need to be resolved quickly, as delay in this matter carries serious risks.
The main source of the digital segment of the economy is the growth of the transactional sector. In developed countries, this indicator makes up more than 70 percent of GDP and combines public administration, consulting and information services, finance, wholesale and retail trade, as well as services (utility, personal and social). The higher the diversification and dynamism of the economy, the greater the circulation of unique information within and outside the country, and the greater the information traffic within national economies.
Therefore, in markets where the number of participants is large and IT services are widespread, the digital economy develops rapidly. In particular, it creates unlimited convenience for transport, trade, logistics and similar industries that actively work with the Internet. According to some researchers, the share of the electronic segment in them is close to 10% of GDP and provides employment for 4% of the population. Most importantly, these indicators are growing steadily. Undoubtedly, the effectiveness of the digital economy is influenced not only by the coverage of information technologies and the availability of infrastructure, but also
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by standard economic criteria such as the business environment, human capital, and successful management tools. Therefore, economic development relies on them, which means that these criteria are as important as before in the development of the digital economy. Today, the digital economy accounts for up to 15.5% of global GDP, and over the past 15 years, the digital economy has grown 2.5 times faster than global GDP.[3]
Until 2030, measures were also taken to develop the concept of "digital Uzbekistan". In order to further improve the system of Public Administration, to
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create conditions for the introduction and development of the digital economy, to improve the investment climate, as well as to implement the strategy of action on five priority areas of development of the Republic of Uzbekistan in 2017-2021, on July 3, 2018, the president of the Republic of Uzbekistan adopted the According to this decision, as the main tasks of the development of the digital economy - to diversify the various forms of investment and entrepreneurial activity, various activities in the field of cryptoactive turnover, including activities in support of May (the creation and distribution of new blocks that give the opportunity to receive awards in the format of
new units and commission fees in different cryptovalutes), Smart contracts (rights and obligations for the automatic implementation of digital transactions in), as well,
M the introduction and development of technologies" blokcheyn"; training of qualified personnel; establishing cooperation with cryptovalutes and foreign organizations; creation of a legal framework in this regard is envisaged, etc.
The concept of the digital economy is becoming more and more important in our lives day by day. When taken internationally, many are addicted to accounting and online trading in a cashless fashion. The digital revolution, which is manifested as a new stage of economic and technological development, has begun a period of more strained international competition, along with the rapid transformation of human life and the creation of wide opportunities. The digital economy has introduced a new concept - "blokcheyn". In the blockchain, all the data is collected and a database is formed, which is constantly replenished, which can be endlessly replenished with data, and therefore it is compared to the supercomputer.
The technological digital environment is an "aquarium" where both legal entities
and individuals establish completely new communication for collaborative activities. Information technology provides enterprises with the opportunity to master completely new, more intensive working rates and to diversify the form of services and products. According to economists, at the same time, the economy, based on the practice of obtaining additional value as a result of such changes, is exchanging for the economy of cooperation and sharing of interests ("sharing-economy"). This gives hope that the competition in the market will actively free itself from mutually beneficial cooperation and cooperation, while moving from vertical communication to mutually equal relations and complementary services.
Digital technologies send drastic changes to more than 50 percent of sectors related to the economy. This vision is based on the fact that information technology and digital platforms dramatically change business models, eliminating intermediaries in their efficiency and optimizing processes. According to World Bank accounts, an increase of 10 percent of fast Internet users is likely to increase the annual GDP from 0,4 percent to 1,4 percent. It is also considered as an indicator that determines its importance for the growth of the digital economy in the country's share
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of GDP by about 20 percent annually (in developed countries this figure is about 7 percent).[4] The process of digitization of the economy also seriously affects the activities of insurers, that is, the main participants in the insurance market, economic entities that carry out insurance activities. Digitization determines the insurers ' commitment to fundamental innovation. They are increasingly actively using digital technologies to simplify insurance processes and tokens. Such technologies, in particular automation, chatbots, data processing within the cloud (cloud computing), technology with elements of artificial intelligence can be an example.
The purpose of the activity of insurance companies should be aimed at satisfying the needs of insurers, their needs will certainly change in connection with the
digitization of the economy. The possibilities of using digital technologies to consumers (shopping through "one click"), the possibility of day-night use and fast delivery; accurate and understandable information about the brand and its features;
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innovative customized services will be necessary. Achieving such results in the short-term period provides an opportunity for the insurer to increase its profit. At this time, the introduction of digital technologies allows the insurer to reduce costs during the movement of the token in the value chain. Automation of processes can also reduce the costs associated with processing insurance claim applications.
In world practice, the financial services sector is increasingly supporting new technologies and tools to implement new solutions that are of interest to service consumers in their activities. In addition, new financial technologies are also entering the manufacturing sector (including ritual, telecommunications, pharmaceuticals, agriculture); they are affecting insurance, lending, accounting services, real estate
valuation, Asset Management, Investments, Tax Administration and others. Great interest in these technologies is expressed by the state and regulatory organizations. This, in turn, determines the speed of legal issues arising as a result of the establishment of a strong partnership relationship, the speed and scope of action of fintech products, the complex solutions of security issues, the level of access to financial services and the increase in the financial literacy of the population.
For the purpose of further development of e-government, the government approved the administrative regulation of the provision of public services for sending
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applications through the single interactive portal of public services to obtain the biometric passport of citizens abroad. Now there is an opportunity to apply for a biometric passport abroad with a visit to the migration and civil registration
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departments or centers of public services of the Ministry of internal affairs and through the single interactive State Services portal.[5]
Implementation of elements of the e-government and support for the digital economy have taken a strong place in the near-term development plan of Uzbekistan. This applies, first of all, to the tasks of further increasing the share of electronic
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"Talqin va tadqiqotlar" Respublika ilmiy-uslubiy jurnali №7
document sharing and gradually transferring a certain part of public services to an electronic form through the Centers of Public Services. Telecommunication infrastructure performs an important function in this process.
In determining the competitiveness of countries in the conditions of globalization, there are unresolved scientific issues concerning the evaluation of the degree of digitization of the economy and the degree of fragility with the development of its economy. Therefore, issues of formation and implementation of innovative strategies for the development of industrial enterprises, coordination of production activities on the basis of their information with the requirements of the domestic and foreign markets should be investigated.
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List of used literature:
1. Узбекистон Республикаси Президенти Шавкат Мирзиёевнинг Олий ^ J> Мажлисга Мурожаатномаси.// Халк сузи. 2020 йил 25 январь.
2. http://www.biznes-dailv.uz/ru/gazeta-biria/63453--sugurta-bozoridagi-muammolar
3. https: //kun.uz/news/2020/03/10/shavkat-mirzivovev-raqamli-to shkent-
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lovihasi-bovicha-korsatmalar-berdi
4. https://kun.uz/news/2020/07/06/raqamli-iqtisodivot-rivoilanish-trendlari-va-xususivatlari
5. https: //kun.uz/news/2022/01/07/xorii ga-chiq ish-biometrik-pasportini-vagona-portal-orqali-olish-tartibi-belgilandi
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