OREANDA-NEWS. On April 16, 2007 in Uzbekinvest National Export-Import Insurance Company a briefing for mass-media devoted to business insurance and presentation of long-term and endowment forms of insurance, confined to the 13th anniversary of Company’s establishment, was held, reported the press-centre of  Uzbekinvest National Export-Import Insurance Company.


The goals of briefing were:
- Development of public relations and strengthening a favorable perception of the image and reputation of the Company by public in the market (in the frameworks of Resolution of the Cabinet of Ministers of the Republic of Uzbekistan of September 22, 2006, №203 “On measures on developing of public relations of government and economic organizations”).
- Presentation of activity of the Company, directed to carrying out the policy of openness and transparency in insurance activity, as well as orientation to quality of services in the frameworks of the 13th anniversary of establishment.
- Increase the role of insurance and insurance culture among population.


General director of Uzbekinvest F. Saidahmedov opened the briefing. In his speech he gave a brief overview on activity and development of the Company from the date of its establishment. Enhancement of legal base of national insurance system which laid solid foundation for insurance business expansion in country accompanied positive results in the sphere of export-import insurance, strengthening market positions in private and corporate insurance, development of the Company’s infrastructure. PR actions, being held on continuing basis in mass media and aimed at increasing the role of insurance and insurance culture of population, as well as advancement of insurance products in international and local markets, are no less important in Company’s activity. Information policy of Uzbekinvest is aimed at developing lasting public relations. In this connection, the Company has set the task of carrying out the policy of openness and transparency of insurance operations, active communication with potential clients, which effectively contribute positive perception and trust of public towards insurance institute.


Uzbekinvest has always been adhering to selected course of orientation to quality of services provided. In 2003, under strategic decision of management, quality management system was implemented and certified according to ISO 9001:2000 international standards. Thus, the Company has become the first in financial market obtained such certificate. After expiration of the validity period of the certificate, taking into account advantages and benefits gained with certification of quality system, the Company decided to prolong the certificate confirming accordance of quality management system to ISO 9001:2000 Requirements. Certification was carried out by "SGS Tashkent" company (Switzerland) – world leader in certification of quality systems. It was told in presentation of Quality Management Representative Munira Rasulova. Afterwards, in solemn atmosphere "SGS Tashkent" representatives handed over the certificate to Company’s management.

The briefing paid special attention to business master cover issues with information presented by Mr K.Khasanov, Director of Innovation and insurance services development center. It is known, that development of small business and private entrepreneurship sphere is one of the most significant directions of economy and moving mechanism of current socio-economic reforms in Uzbekistan. This position was separately emphasized by the President on the meeting of the Cabinet of Ministers, February 12, 2007, while defining basic priorities of improving economic reforms in 2007. Acknowledging significance of executing state reforms and priorities, Company has defined basic directions of strategic development in 2007. This includes expansion and increase of activities in export credit insurance and several business lines.

Within the framework of business insurance the Company offers favourable insurance cover against losses of an entity during its business processes, including:
• property insurance (equipment, building, technology);
• third parties liability (professional, general, executives);
• business interruption.


Besides, within the framework of The Year 2007 of Social Protection, N.Rizaeva, presented information regarding long-term and collective types of insurance offered by Subsidiary Insurance Company Uzbekinvest Hayot, which is the only life insurance company in local insurance market. Supposing that Uzbek insurance market, in general, has achieved appropriate level of development and intensively developing, then it is reasonable to conclude that the next stage is after development of life insurance sector. Starting point for the development of life insurance in Uzbekistan was adoption of the Law of the Republic of Uzbekistan “On insurance activity” dated April 2002, that stipulates separation of life and general insurance sectors. The Resolution of the Cabinet of Ministers #413 dated 27 November 2002 defines 4 classes of life insurance sector. Thus, life insurance, for the first time, had been recognized as a separate part of insurance market with emphasis on its importance and significance in the system of social-economic affairs of the country. Recently, another impulse in developing of insurance sector has been the Resolution of the President #PP-618 dated 10 April 2007 "On measures for further reforming and development of the insurance services market " that stipulates tax exemptions for long term insurance premiums. Taking into account above mentioned and the growth of cash income and increase of consumer interests of the population, we believe that life insurance sector has huge potential from the point of market capacity as well as its potential.