BAKU, Azerbaijan, January 10. The Central Bank of Azerbaijan (CBA) has published the Motor Third Party Liability (MTPL) Complaints Index based on the performance of insurance companies (ICs) in the country from January 2023 through December 2023, Trend reports referring to CBA.
According to CBA statistics, the insurance firm complaint index is derived by dividing the insurer's market share on complaints by the insurer's market share on signed contracts.
"An index score below 1.00 indicates a high level of service and customer satisfaction with the service received; exceeding the mark of 1.00 indicates a low level of service compared to other companies," CBA said.
The index of complaints by insurance companies:
|
Insurance Company: |
Index of Complaints: |
|
Xalg Insurance |
3.8 |
|
Baku Insurance |
1.65 |
|
Azersigorta |
1.59 |
|
Ateshgah Insurance |
1.16 |
|
AtaInsurance |
1.15 |
|
PASHA Insurance |
0.58 |
|
Azerbaijan Industry Insurance |
0.52 |
|
Mega Insurance |
0.43 |
|
Qala Insurance |
0.39 |
The CBA stated that the index of complaints on obligatory automobile insurance is calculated and publicized to assist citizens in making decisions about buying insurance services of this sort. Azsigorta, Ipek Yolu Sigorta, and A-Group Insurance Company, whose licenses were restricted due to the revocation of the permit issued to conduct compulsory motor insurance based on the methodology used internationally in calculating the complaints index and the number of contracts, and Gunay Insurance and Nakhchivansigorta, whose licenses were withdrawn, were not included in the calculation.
CBA, on the other hand, continues to regulate incoming complaints in connection with the current mandatory vehicle insurance contracts completed with the aforementioned companies and still in place.