BAKU, Azerbaijan, July 17. The Azerbaijani Social Research Center (SRC) proposed the Central Bank of Azerbaijan (CBA) to consider the possibility of developing a 'Complaint Index' to assess the effectiveness of insurance companies in various classes and types of insurance, the SRC Board Chairman Zahid Oruj said, Trend reports.
Oruj made the remark at the conference on "Methods of successful resolution of insurance disputes".
"The initiative and sensitivity of the bank's new management to public opinion and the challenges of experts inspire big confidence in positive changes in this area. In this case, a buyer of insurance may be able to evaluate the services of companies by indexes," he noted. "According to experts, when citizens choose insurance companies, they will rely on these criteria."
"Insurance companies will analyze this index. If it turns out that the index is distorted or not objective, the idea will not work," he said.
Oruj also emphasized that the compilation of indices can positively influence the solution of such issues as the delay in compensation for losses and dissatisfaction of citizens with the amounts of insurance payments.
On October 2022, the CBA decided to publish an index of complaints in order to increase consumer awareness and improve the activities of insurers in relation to consumers in the field of compulsory auto insurance. The 'Complaint Index' is calculated for each insurer based on data obtained in the last year from the date of publication and will be updated on a monthly basis.