Development of Innovative Personal Insurance Products and Expanding Population Coverage (OpenAlex (recherche mondiale))

Summary

• In 2025, gross written premiums in Uzbekistan reached UZS 13.46 trillion, representing a year-on-year increase of 37.8%.p.2
• Life insurance accounted for only 4.4% of Uzbekistan's insurance market in 2025, with overall insurance penetration standing at 0.73% of GDP.p.1
• Global insurance premiums reached 7.8 trillion USD in 2024, but the life insurance protection gap reached a record 432 billion USD.p.2
• Microinsurance covered 344 million people across 37 countries in 2023, leaving an 88% protection gap among potential low-income beneficiaries.p.2
• Life insurance premiums in Uzbekistan recovered to reach 586.5 billion so‘m in 2025, growing by 104.8%.p.7
• Total insurance payout claims in Uzbekistan reached 2.98 trillion so‘m in 2025, representing roughly 22% of collected premiums.p.7

Key insights

1. Perceived trust in insurers is the single most decisive factor influencing household adoption of personal insurance products.p.1
2. Developing markets represent 63% of the global mortality protection gap, accounting for 271 billion USD in unmanaged household risk.p.2
3. Insurance penetration in Uzbekistan reached 0.73% of GDP in 2025, remaining more than 8 times lower than the OECD average of 6.2% in 2024.p.2
4. Empirical evidence from Uganda shows that perceived value, literacy, and trust together explain 63.2% of the variance in insurance inclusion.p.4
5. Voluntary general insurance dominated Uzbekistan's market structure in 2024, accounting for nearly 91% of total gross written premiums.p.7
6. A low claims payout ratio of around 22% in Uzbekistan hinders market development by eroding consumer trust in insurance providers.p.7
7. Digital insurance channels increase adoption primarily when mediated by platform ease of use, usefulness, and trust rather than digital literacy alone.p.4