INNOVATION MANAGEMENT IN INSURANCE ORGANIZATIONS: METHODOLOGICAL APPROACHES TO PROJECT SELECTION AND PRIORITIZATION

Methodological approaches to the selection and prioritization of innovative projects in insurance organizations are systematically examined and synthesized. The relevance of the study is determined by the increasing innovation activity of insurers amid the digital transformation of the insurance industry, as well as the persistent gap between companies' stated commitment to innovation and the development of practical project-selection mechanisms. The research methodology is based on a synthesis of scientific literature addressing financial and economic evaluation, expert-based multi-criteria assessment, process-oriented approaches, and portfolio-based methods of project selection, complemented by an analysis of publicly available data. The findings indicate that none of the methods examined fully integrates the long-term nature of insurance liabilities, regulatory capital adequacy requirements, and the phased pilot testing of new insurance products within a single evaluation framework. The specific characteristics of Uzbekistan's insurance market are analyzed, and practical recommendations are developed to improve the selection and prioritization of innovative projects in insurance companies.