Inclusive insurance and risk financing in Uzbekistan. Snapshot and way forward 2022

Inclusive insurance and risk financing in Uzbekistan. Snapshot and way forward 2022

December 16, 2022

This report presents the main findings of UNDP’s inclusive insurance and risk finance country diagnostic for Uzbekistan. It sets out key risks, the current inclusive insurance and disaster risk finance landscape, and recommendations to advance inclusive insurance, risk finance and development.

Uzbekistan’s main hazards include floods, drought and earthquakes. Current inclusive insurance offerings are lower-premium and lower-coverage versions of traditional products, with very low uptake by target markets. No sovereign disaster risk mechanisms are used, nor is there a cohesive risk financing strategy.

Recommendations include building insurance industry capacity to design client-centric products; diversifying the country’s approach to disaster risk financing; and integrating insurance and risk finance into national development and climate strategies.