State Insurance Supervision Service begins marketing research of Azerbaijan's insurance market

Business Materials 9 July 2011 10:41 (UTC +04:00)

Azerbaijan, Baku, July 9 / Trend A. Akhundov /

The State Insurance Supervision Service under the Azerbaijani Finance Ministry within the marketing research of the insurance market starts conducting a survey, the head of the State Service Namiq Khalilov told media.

"The preparatory process is underway," he said. "The practical part of the research will be launched soon. It is planned to use two ways. The work will be conducted with focus groups and a number of people will be interviewed on the proper form."

He said that it is planned to examine the most dominant kinds of the retail insurance: auto insurance and property insurance at the first research stage.

"Each focus group will have 10-15 people," he said. "The qualitative analysis will be conducted. This work will be conducted by an advertising agency, which has its own contractors."

He added that a report will be prepared after the research, planned to be completed in August. Afterwards, it will be submitted to insurance companies.

"The purpose of this research is to determine the degree of public interest in insurance, the level of its awareness in this area, to determine public opinion about insurance in general," he said. "It is necessary for the insurance companies to be able to improve their marketing on the basis of this data and to know where we should move."