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Azerbaijani insurers to transfer to on-line system

Business Materials 13 May 2009 14:03 (UTC +04:00)

Azerbaijan, Baku, May 13 / Trend , U.Ismayilova/

The Azerbaijani largest insurance company Az Sigorta is taking measures to develop the internet-insurance, Az Sigorta Board Assistant Manager Khayal Mammadkhanli said.

"The company has introduced travel on-line for insurance of tourists," Mammadkhanli said.

Azerbaijan Sigorta will introduce on-line services on all types of insurance.

Mammadkhanli said that insurance of tourists is not one of the most profitable species, as the company may collect 5,000-10,000 manats per month, but at the same time, the company does not refuse to provide this type of insurance.

Two other insurance companies of Azerbaijan - Az Sigorta and International Insurance Company offer on-line insurance.

Az Sigorta insurance operates on the market since November 2006. The company has eight branches in regions, as well as 40 regional representatives. Az Sigorta offers 28 kinds of insurance services, three of which are compulsory.

As for the first quarter of 2009, Az Sigorta collected premiums 3.443 million manats with payments of 946,000 manats. Most premiums accounted for air transport- 829,000 manats, cargo insurance -640,000 manats, fire insurance - 740,000 manats, CASCO - 319,000 manats and OSAGO -168,000.

On may 13, the official exchange rate is 0.8034 manats to $1.

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