Directions for increasing the efficiency of index insurance in agriculture of the Republic of Kazakhstan

Abstract

The author presents the Kazakhstan’s experience in the development of agricultural insurance and suggests crucial ways to improve its effectiveness. Kazakhstan has made a transition from the mandatory form of agricultural insurance with state subsidization of insurance payments to the voluntary form based on the index method with state subsidization of insurance premiums. The author notes that in the conditions of digital transformation of economies, new directions are opening up for managing the development of insurance relations in agriculture. The possibilities of accumulating, storing, transmitting and processing statistical information arrays with low costs can be used to improve insurance products for agricultural producers and increase the efficiency of spending budget funds aimed at supporting the development of insurance in the industry. Due to the agriculture specifics insurance relations cannot develop effectively without state participation. Close cooperation between the state and business in the field of risk management in agriculture is necessary.

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