Azerbaijani, Baku, Nov.26 / Trend , U.Ismayilova /
"The Azerbaijani-Turkish joint insurance company Basak Inam launched operations to make a transition to an automated management system," Chief Board Assistant Hikmet Allahverdiyev said Nov. 25.
Basak Inam is the first company introducing such a management system on the country's insurance market, Allahverdiyev said. The implementation will take a year.
The new automated management system meets international standards and is being used in many major insurance companies across the world. The automated management program will provide an opportunity to automate insurance certificates, accounting, reinsurance transactions and payment calculations.
"The new automated management program will cover all the company's needs in the next 10 years," Allahverdiyev said.
The company's premiums amounted to 1.73 million manat with payments worth 720,000 manat within the first nine months of its activity.
The shareholder of Basak Inam Sigorta Sirketi is the Turkish Groupama Sigorta AS. The joint insurance company Basak-Inam has been operating since 1996 and renders 31 insurance services. The company's authorized capital increased to 2 million manat since May.
On Nov. 25, the official exchange rate is 0.8025 manat to $1.
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