Ways to Eliminate Problems That Obstacle The Development of Insurance Services in Our Country

The insurance system plays a vital role in ensuring economic stability, mitigating financial risks, and promoting sustainable growth by providing protection for individuals, businesses, and institutions. In Uzbekistan, the insurance market has shown gradual growth in recent years due to economic reforms and the liberalization of financial services. Despite this positive momentum with respect to premiums, payments and the number of companies, the sector's contribution to GDP is low by global standards, indicating a significant undersaturation. While most previous studies recognize the need for a strong insurance sector, they have neglected the systemic barriers that hinder its creation legal inconsistencies, low public trust, low levels of digitalization, and weak professional training. The purpose of this study is to highlight the main factors that limit the insurance market in Uzbekistan and to determine scientifically based recommendations for their elimination. Analysis showed that low national insurance culture among the population (impact 4.7 points), legislative contradictions (4.3 points), low financial stability of companies (impact 4.1 points) and slow technological integration (3.6 points) are the main obstacles. Only 37 per cent of citizens, according to survey data, use insurance, and 30 per cent have low trust in it. It offers a complete solution of educated public finances, legal harmonization, capital strengthening and digital innovations (online insurance and blockchain transparency). Accordingly, these findings prove that sorting out structural and institutional obstacles will increase public trust, measures of service quality, and to turn the insurance sector into a stimulus for financial stability and social protection along the process of economic modernization of Uzbekistan.