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Another insurance company in Azerbaijan creates its own agency

Business Materials 17 January 2011 13:08
The insurance company AXA MBASK has first its first partnership agreement – with the agency Khazar in accordance with its plans of development of retail sales via insurance agency networks, the company’s statement says.
Another insurance company in Azerbaijan creates its own agency

Azerbaijan, Baku, Jan.17 / Trend, U.Ismayilova/

The insurance company AXA MBASK has first its first partnership agreement - with the agency Khazar in accordance with its plans of development of retail sales via insurance agency networks, the company's statement says.

Thus, Khazar Agency is the first agency launched with the full support of AXA MBASK. The operation of the agency will be oriented for retail and corporate customers as well as finance/credit institutions and will cover all the insurance types available. 

"We are confident that we made the right choice when, having opened an agency, we closed the deal specifically with AXA MBASK. The agency becomes an increasingly profitable business with the progress of the insurance in the country. Given the global brand and the high level of the services of AXA, we on top of that get that confidence in the insurance products that we will offer to our customers. АХА MBASK provides the full support and not only for the launch of the agency but, and more importantly, through offering a beneficial financial motivation system as well as the quality technical and underwriting support. The priority operating areas of the Khazar Agency will be the continued improvement of the efficiency of customer communications and the building up of a system to secure a high level of agency sales," commented the director of the agency Asker Ojagverdiyev.

First Deputy Chairman of the Management Board of AXA MBASK Rashad Abbasov said: "With the agency launches we will make the insurance yet more available for our customers. The international experience shows that it is practically impossible to advance retail sales without agents and agencies. We have overhauled the retail sales development model in our agency and so the insurance agencies will be playing an immense role in this new model. AXA MBASK is ready to support fully the local businesses wishing to go into agency. We wish the Khazar Agency every success in their enterprise. We are certain that other agencies in Baku as well as in the provinces will follow the Khazar's example."

It should be remembered that in October 2009 MBASK Insurance Company changed its principal shareholder with the sale of 51% of its equity to AXA Group (France) via its affiliated company AXA Seguros Generales, S.A, De Seguros Y Reaseguros (Spain).

AXA Group is the world leader in financial protection and operates in 57 countries with the highest business activity concentrations in Europe, North America and the Asia/Pacific Region.

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