BAKU, Azerbaijan, September 11. The Central Bank of Azerbaijan (CBA) has published the Motor Third Party Liability (MTPL) Complaints Index based on the performance of insurance companies (ICs) of Azerbaijan from September 2022 through August 2023, Trend reports.
According to the CBA, the calculation of the insurance company complaint index is made by dividing the insurer's market share on complaints by the market share on concluded 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," the CBA said.
The index of complaints by insurance companies is as follows (highest score indicates most complaints):
|
Insurance Company: |
Index of Complaints: |
|
Azsıgorta |
26,75 |
|
Ipek Yolu Sigorta |
2,68 |
|
Ateshgah Insurance |
2,26 |
|
A-Group Insurance Company |
1,94 |
|
Gunay Insurance |
1,88 |
|
Xalg Insurance |
1,76 |
|
Bakı Insurance |
1,17 |
|
Azerbaijan Industry Insurance |
0,93 |
|
Atasigorta |
0,92 |
|
Azersigorta |
0,75 |
|
Mega Insurance |
0,43 |
|
PASHA Insurance |
0,35 |
|
Qala Insurance |
0,35 |
|
Nakhchivansigorta |
0,0 |
Index for Nakhchivansigorta was calculated based on complaints regarding vehicles registered in Nakhchivan Autonomous Republic.
CBA notes that the licenses of Azsigorta (from September 11, 2022), İpek Yolu Insurance (from January 24, 2023) and Ateshgah Insurance (from August 11, 2023) are limited on the basis of voluntary application by canceling the issued permit for carrying out MTPL insurance, and the license of Gunay Insurance is canceled on June 24, 2023 on voluntary application.
At present, as the legal validity of the current compulsory motor insurance contracts remains, the companies continue to regulate insurance claims under the current contracts. For this reason, the calculation of the Complaints Index by company will be done as long as the current contracts remain in force.