Azerbaijan, Baku, Sept.18 / Trend, I.Khalilova /
The first national insurance Olympiad held in Azerbaijan is a very important event for the country's insurance market, the head of the State Insurance Supervision Service under the Finance Ministry Namig Khalilov said today at the opening of the Olympiad.
The Olympiad was organized by the Azerbaijan Insurers Association (AIA) in cooperation with the State Insurance Supervision service.
"Insurance activity, being the intellectual sphere, requires relevant knowledge from insurance companies' employees," Khalilov said. "Olympiad stimulates increase of knowledge in this sphere, and the importance of such events will be felt later."
Over the past 10 years great achievements were observed in Azerbaijan virtually in all spheres of economic development, including in the insurance industry, the AIA Executive Director Gafar Majidov says.
"Insurance companies have big ambitions to further expand their activities, improve quality and service," Majidov said.
A professional staff is needed for risk management at the current rate of the economy development, the AzRe reinsurance company deputy chairman Vusal Abbasov said.
"After the new law "On insurance activities" comes into force, applicants for posts of insurance companies' managers must be certified, which is already indicates increase in responsibility in this sphere," Abbasov said. "Holding Olympiads will enhance the professionalism of cadres in insurance companies, which is very important, given the need to develop programs on right management and placing insurance risks. "
The Olympiad is attended by 30 representatives from 10 insurance companies. Young professionals of International Insurance Company, Xalq Sigorta, Standard Insurance, Qarant Sigorta, Mbask Sigorta, Ata Sigorta, A-Group, Azal Sigorta, Ateshgah, AzSigorta joined the competition.