RISK ASSESSMENT AND MANAGEMENT MECHANISMS IN INSURANCE ACTIVITIES
DOI:
https://doi.org/10.55640/Keywords:
Risk assessment; risk management; insurance activities; solvency; actuarial analysis; predictive analytics; risk mitigation; reinsurance; financial stability; operational controls.Abstract
This study investigates the mechanisms of risk assessment and management in the insurance sector, emphasizing the importance of identifying, analyzing, and mitigating potential risks. Effective risk management ensures the financial stability and sustainability of insurance companies, protects policyholders, and enhances market confidence. The research examines modern tools and methods for risk assessment, including statistical modeling, actuarial analysis, and predictive analytics. It also explores strategies for risk mitigation such as diversification, reinsurance, and operational controls. The findings indicate that implementing structured risk management mechanisms is crucial for maintaining solvency, improving profitability, and supporting the sustainable development of the insurance market.
References
1.Abdukarimov, A. (2021). Risk management and insurance optimization in Uzbekistan. Tashkent: Economics Publishing.
2.Deloitte. (2022). Global insurance risk management outlook: Tools and strategies for financial stability. New York: Deloitte Insights.
3.Enz, R. (2000). The S-curve relation between per-capita income and insurance penetration. The Geneva Papers on Risk and Insurance, 25(3), 396–406.
4.Anvarovich, N. E. (2023). Economic Growth and Increasing Investment Attractiveness of the Region. Central Asian Journal of Innovations on Tourism Management and Finance, 4(11), 1-7.
5.KPMG. (2021). Insurance industry 4.0: Digital solutions for risk assessment and operational efficiency. London: KPMG Reports.
6.Makhmudov, S. (2022). Mechanisms of risk assessment in emerging insurance markets: Evidence from Uzbekistan. Journal of Financial Services, 14(3), 45–58.
7.Anvarovich, N. E. (2022). Improving the Risk Management System in a Commercial Bank as a Condition for Minimizing Credit Risks. European Journal of Business Startups and Open Society, 2(2), 43-45.
8.Outreville, J. F. (2013). The relationship between insurance and economic development: A theoretical and empirical analysis. Journal of Risk Finance, 14(2), 110–145.
9.Anvarovich, N. E. (2020). Theoretical fundamentals of financial health of the enterprise. Indonesian Journal of Innovation Studies, 9, 1-4.
10.Rejda, G. E., & McNamara, M. (2017). Principles of Risk Management and Insurance (13th ed.). New York: Pearson.
11.Vaughan, E. J., & Vaughan, T. (2018). Fundamentals of Risk and Insurance (12th ed.). Hoboken, NJ: Wiley.
12.Nozimov, E. (2025). FINANCING OF INVESTMENT PROJECTS FROM THE FUNDS OF THE FUND FOR RECONSTRUCTION AND DEVELOPMENT OF UZBEKISTAN. International Journal of Artificial Intelligence, 1(3), 1292-1296.
13.Insurance Market Development Agency of Uzbekistan (IMDA). (2024). Annual report on risk management practices in the insurance sector. Tashkent: IMDA.
14.Ministry of Economy and Finance of the Republic of Uzbekistan. (2023). Statistical bulletin on insurance risk assessment and management. Tashkent.
Downloads
Published
Issue
Section
License
This work is licensed under a Creative Commons Attribution 4.0 International License.
Authors retain the copyright of their manuscripts, and all Open Access articles are disseminated under the terms of the Creative Commons Attribution License 4.0 (CC-BY), which licenses unrestricted use, distribution, and reproduction in any medium, provided that the original work is appropriately cited. The use of general descriptive names, trade names, trademarks, and so forth in this publication, even if not specifically identified, does not imply that these names are not protected by the relevant laws and regulations.
