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Insurance policy sales increase in Azerbaijan for those going abroad

Business Materials 27 July 2011 12:28
Despite the fact that 2011 was declared the Year of Tourism in Azerbaijan, insurance company activity in the tourist industry does not differ much from that of previous years, the executive director of the Association of Insurers of Azerbaijan, Azer Aliyev believes.

Azerbaijan, Baku, July 26 / Trend, A.Akhundov /
Despite the fact that 2011 was declared the Year of Tourism in Azerbaijan, insurance company activity in the tourist industry does not differ much from that of previous years, the executive director of the Association of Insurers of Azerbaijan, Azer Aliyev believes.
"I do not think that in this respect this year is very different from last year. Today, a commission fee sales policy lays the foundation for cooperation of insurance companies and travel agencies. Unfortunately, neither those nor the others have any other points of contact. For example, such as an expanded product line, operational and quality service", Aliyev told Trend on Tuesday.
However, he said, in terms of volumes, this market is definitely promising.
"Today we can observe a steady increase in sales of insurance policies to persons going abroad", Aliyev said.
According to the State Insurance Supervision Service under the Azerbaijani Finance Ministry, in the first half of the year Azerbaijani insurers collected 607,500 manat, 0.62 percent of total premiums for all insurance types at the expense of insurance of citizens leaving to go abroad.
The official exchange rate is 0.7863 manat to $1 on July 26.

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