Methods of creating innovative products in the development of the insurance services market

Аннотация

The article provides suggestions on how to develop innovative insurance products by insurance CITATION companies in the development of the insurance services Adilova Gulnur Djurabaevna. (2025). Methods of creating innovative market and organize the sale of E-policies to products in the development of the insurance services market. The American Journal of Management and Economics Innovations, 7(01), 21– policyholders using modern information technologies. 24. https://doi.org/10.37547/tajmei/Volume07Issue01-03 Keywords: Insurance market, insurance product, E- policy, insurance broker, insurance agent, assistance, COPYRIGHT © 2025 Original content from this work may be used under the terms adjuster, surveyor, voluntary insurance, insurance of the creative commons attributes 4.0 License. premium, insurance coverage, insurance service. Introduction: Today, real changes taking place in all spheres of the socio-economic life of the republic create objective conditions for increasing the role of insurance, which is one of the components of the financial system of the economy. The insurance market is one of the most important segments of a market economy, and its role is of great importance in the socio-economic development of the state. The prospects for the development of the national insurance services market and its growing impact on the economy are clearly visible, and at present it is considered one of the strategic factors for the effective functioning and successful development of financial and economic relations in our country. In market conditions, the activities of each business entity are exposed to various risks that require insurance coverage. The role of insurance services in protecting against these risks is invaluable. Reducing the negative impact of disasters on human life is carried out through "insurance", which means the distribution of the costs of eliminating the consequences of negative events among several economic entities. The American Journal of Management and Economics Innovations 21 https://www.theamericanjournals.com/index.php/tajmei The American Journal of Management and Economics Innovations It is impossible to rationally approach the issue of there are a number of definitions of the concept of identifying and solving the problems of the insurance “insurance”. D. Farni, from the point of view of sector without understanding the essence of the main insurance law, , an insurance product is an insurance concepts of insurance in the system of financial market contract, which includes an insurance policy and relations. Each insurance company has a huge number insurance rules. At the same time, theoretically, an of product branches within the types of services it insurance product was defined as a commodity that can offers. To satisfy all types of insurance needs, their be offered to the market to satisfy a consumer need. number must be significant. Each of them is a basic Thus, if we consider insurance services as a commodity, marketing unit aimed at a specific market or its large in order for it to be sold, it must satisfy the needs of the segment. Each package has its own design and consumer. corresponds to the trademark and name of the insurer. A. Zubets , “an insurance product is a set of basic and When a potential client applies to a consumer auxiliary services provided to the insured when representative for the conclusion of an insurance concluding an insurance contract.” Thus, an insurance contract, he is given the opportunity to choose from product is a set of certain services aimed at satisfying the available complex of insurance products. the needs of the insured within the framework of an The development of the insurance market in insurance contract. In addition to services in the field of Uzbekistan is largely due to the introduction of insurance and reinsurance, such services include legal technologies that have an impact on the insurance and organizational services provided within the technologies of the increasingly digital economy, but framework of a specific insurance policy. do not change the economic essence of the economy. In this regard, the concept of an insurance product is As a result of the use of digital technologies in broader than the concept of insurance services, as it can insurance activities: also include other types of services. − to increase the efficiency and profitability of