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Support to agent's activity is Azerbaijani insurance community's task

Business Materials 9 September 2011 17:51
Brokerage (agent) activity is a necessary condition for retail development on the Azerbaijani insurance market, Azerbaijani Insurers Association executive director Azer Aliyev believes.

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

Brokerage (agent) activity is a necessary condition for retail development on the Azerbaijani insurance market, Azerbaijani Insurers Association executive director Azer Aliyev believes.

"This is a classic method of selling insurance products, which has been developed around the world. It is just gaining popularity in Azerbaijan," Aliyev told Trend.

He said today the insurance community's task is supporting this sales channel and contributing to its development.

"The development of agent network helps bringing information about insurance and insurance products to the general population," Aliyev said.

He said in this case there is no significant difference, the company operates with its own agencies or third-party [agent networks of other companies].

"Most importantly, it should be professional community of insurance agents who understand the essence of insurance and can act as a consultant of financial services for population," Aliyev said.

With the development of insurance in Azerbaijan agent's activity is becoming more profitable business. At present, "AXA MBASK", "Qarant Sıgorta", International Insurance Company and others are actively expanding the company's agent network.

There are 27 insurance companies and one reinsurance company in Azerbaijan.

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