Compulsory Insurance Bureau develops single clearing system in Azerbaijan

Photo: Compulsory Insurance Bureau develops single clearing system in Azerbaijan / Economy news

Baku, Azerbaijan, June 20
By Emin Aliyev - Trend:

Azerbaijan`s Compulsory Insurance Bureau is developing a single clearing system for processing requirements on the repayments on automobile liability insurance.

The head of the bureau, Elkhan Guliyev made the remarks at the 5th Azerbaijan International Insurance Forum.

"Automobile liability insurance is one of the most important elements of the compulsory insurance market in the country. Meanwhile, the insurers use different approaches to work with this type of insurance and customers that adversely affects this particular segment, and on the whole market," Guliyev said.

Therefore, CIB has launched development of a single, centralized management system and data processing on the requirements for reimbursements in the compulsory motor insurance, he noted.

"Among the advantages of this system, I can name such unified flow of documents among all companies, as well as addressing the electronic form. Furthermore, the insured citizens will be able to receive relevant SMS notifications, as well as to follow in real-time mode the status of introduced requirements by them for payment on an insurance case," the bureau head said.

The Compulsory Insurance Bureau consists of 15 insurance companies, some 11 of which have the right to sell policies of compulsory motor liability insurance.

Edited by CN

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