Azerbaijan, Baku, Sept. 4 / Trend A. Akhundov /
Azerbaijani insurance company Azerbaycan Senaye Sıgorta has completed the introduction of software that will allow it to sell compulsory insurance policies through its own website, deputy chairman of the company Intigam Seyfulla told Trend today.
At present, the company issues policies for these types via the compulsory insurance bureau's web pages. Using their own software by insurers is one of the requirements of the Finance Ministry.
Azerbaycan Senaye Sıgorta became the twelfth company to join the Compulsory Insurance Bureau, established in accordance with the law on 'Compulsory kinds of insurance'.
The law regulates four types of compulsory insurance - real estate, liability of owners of vehicles, passenger and public liability insurance while exploiting real estate. The insurance companies started using the law on December 16, 2011.
Azersıgorta received permission to engage in all these kinds, except passenger insurance.
Moreover, there are requirements for bureau members. According to them, an insurer must have at least a branch or a representative office will all opportunities for paying compensation in one of the regions or cities of the 10 economic regions of the country, except for the occupied territories.
"Our network of representation meets these requirements, but in the future we will continue expanding our presence in the regions," he said. "This is necessary for the regulation of insurance claims and payment of compensation in the regions."
He added that the company's staff significantly increased after a number of representative offices increased and joined the bureau.
The official exchange rate is 0.7853 AZN/USD on Sept. 3.