ASSESSING THE DIGITAL ACTIVITY OF INSURANCE COMPANIES IN UZBEKISTAN: A COMPOSITE INDEX APPROACH
Keywords:
insurance market, digital activity, composite index, social media metrics, engagement rate, UzbekistanAbstract
Insurance companies in Uzbekistan now spend more on social media, and subscriber counts are often used to show that this spending works. This paper tests that idea. It applies a four-part composite index to monthly data published by Standard and Sensitive Ratings, covering 33 insurers on six social networks from January 2025 to July 2026. Index scores in July 2026 range from 0.03 to 5.17. The total number of subscribers in the sector grew by about 56 per cent over the period, from 163,840 to 255,369. But audience response did not grow with it. The correlation between total subscribers and Facebook likes is only 0.40. The clearest case is Apex Insurance, which increased its Facebook subscribers from 1,000 to 13,173 in eighteen months while its likes stayed at about 700, cutting its like rate from 0.61 to 0.05. The paper argues that subscriber counts overstate how well digital marketing works, and that engagement rates are the better indicator for financial analysis.
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