Azerbaijani insurance company plans to increase sales of medical insurance products to the public

Business Materials 8 January 2014 17:29 (UTC +04:00)

Baku, Azerbaijan, Jan. 8
By Abbas Akhundov -Trend:

In 2014 A-Qroup, Azerbaijani insurance company plans to increase sales of health insurance products to individuals, chairman of the company's board Anar Bayramov told Trend on Jan.8.
"In 2014, we want to focus on health insurance of individuals. This product existed last year as well. This year we want to increase sales to individuals, however, the advantage will be again for corporate clients," Bayramov said.

Bayramov went on to say that the corporate sector accounts for 99 percent of the company's portfolio on medical insurance.

"The health insurance market is not developed at all. Only two percent of the population has voluntary health insurance. That is, 98 percent are still not insured. It is necessary to develop new products for them and make them attractive and affordable," Bayramov said.

The A-Qroup Insurance Company was established in 1995. It renders services under 14 types of voluntary insurance. It is the only insurance company selected by the International Finance Corporation (IFC) in the second phase of a pilot programme to improve corporate governance. Earlier in 2013, the company's compliance with international quality standard ISO 9001 was once again confirmed.

Translated by M.L.

Edited by C.N.