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Developing the Underwriting Process in Life Insurance

Author

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  • Yuldashev Obiddin Toshmurzaevich

    (Bankinf and Finance academy of the Republic of UZbekistan, Uzbekistan)

Abstract

Underwriting is the main factor affecting the reliability, stability of the organizational development of the life insurer and determining the quality of financial management, strategic planning, budget management of the life insurer, the economic feasibility of the life insurance process, the adequacy of the life insurer's operational management system. Underwriting is the main business process in insurance organizations and provides for the assessment and management of insurance risk accepted for insurance. This study focuses on the economic nature of underwriting, the approaches of scientists to it, the specifics of life insurance underwriting, types of life insurance underwriting and the process of their implementation, as well as directions and stages of underwriting in life insurance. The article also substantiates that digitalization of the underwriting process in life insurance is an important factor in its development. In concluding life insurance contracts, regardless of the type of insurance product, according to the author, underwriting should be carried out gradually in several directions.

Suggested Citation

  • Yuldashev Obiddin Toshmurzaevich, 2020. "Developing the Underwriting Process in Life Insurance," European Journal of Business and Management Research, European Open Science, vol. 5(6), November.
    • Handle: RePEc:epw:ejbmr0:v:5:y:2020:i:6:id:50657
    DOI: 10.24018/ejbmr.2020.5.6.657
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