Digitization of the Insurance Industry: Evidence from Uzbekistan

Abstract

Digitalization of the loss settlement process in insurance is one of the most promising areas for the development of the insurance industry. Digital technologies can improve the efficiency and accuracy of the process, speed it up, and improve the user experience. However, the use of digital technologies can be associated with risks, such as cybersecurity and lack of human interaction. For successful implementation of digital technologies in the loss settlement process, insurance companies need to pay attention to training their personnel, improving cybersecurity, and using modern tools such as machine learning, process robotics, and cloud technologies.