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Transformation Work Is In Full Swing At Uzagrosugurta Jsc

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Transformation work is in full swing at Uzagrosugurta JSC

In the process of transformation of Uzagrosugurta JSC, the main focus is on financial recovery, improving operational efficiency and strengthening the international image of the company.

The transition to the practice of preparing reports based on International Financial Reporting Standards (IFRS) has been carried out. Uzagrosugurta JSC also passed an audit of the international organizations Deloitte and Grant Thornton International, according to the results of which the international rating agency Fitch Ratings confirmed the company's rating at BB- stable, thereby opening the doors to the international insurance market and contributes to strengthening cooperation with the world's largest insurance companies and reinsurance brokers.

As part of the transformation, an audit of the company's procurement system was conducted by Ernst&Young advisory, and positive conclusions were obtained.

Also at this time, the company, together with Ernst&Young advisory, is developing a development strategy for Uzagrosugurta JSC for 2023-2025.

It is noted that the changes are primarily focused on the full digitalization of the company's activities. In addition, it is planned to update and expand the volume of foreign reinsurance contracts on preferential and mutually beneficial terms.

Also, important changes are expected in the company's personnel policy. Much attention is paid to improving the conformity assessment system of the company's economic and business activities, where the main goal is to obtain an international anti-corruption certificate (ISO 37001:2016).

In order to provide customers with high-quality and effective insurance services, a new insurance claims review system will be created.

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