Azerbaijani insurer postpones life-affiliated company

Business Materials 18 January 2013 16:26 (UTC +04:00)

Azerbaijan, Baku, Jan. 18 / Trend A. Akhundov /

Azerbaijani Insurance Company Standard Insurance has postponed the issue of establishing a separate life insurance company in the near future, company chairman Kamal Ibrahimov told Trend today.

"We are now conducting market research and developing a strategic plan," he said. "I think we will be ready to join this area of the insurance business in the near future."

He said that no major changes in the company's development strategy are expected.

"We will continue developing voluntary insurance among private individuals on vehicle insurance, property and personal insurance," he said. 'We intend to develop personal and medical, car and property insurance and various types of liability among customers."

He said that special attention in the company's activity is attached to the work with the staff. This refers to agents working with contracts and highly skilled specialists.

"In 2013, the company will continue working on insurance agitation and increasing awareness of potential customers about various insurance products and their benefits, education of proper understanding of insurance among customers and new staff, trained to deal with insurance," Ibrahimov said.

One of the largest insurance companies in Azerbaijan which is Standard Insurance has been operating on the market since 2002. The company renders services on 28 types of insurance.