Baku, Azerbaijan, May 25
By Anvar Mammadov - Trend:
It is necessary to develop the activity of insurance intermediaries in Azerbaijan, the newly appointed Chairman of the Insurance Intermediaries Committee of the Azerbaijan Insurers Association Khayal Mammadkhanli told Trend May 24.
He said that currently there are a number of problems in the work of insurance intermediaries in Azerbaijan which need to be solved.
"In the near future we will prepare a plan of activities. I believe that there is a need to change the legislation, so we want to prepare a package of proposals. There are also problems with the professionalism of intermediaries. Their activities also require the use of innovative technologies," Mammadkhanli said.
The Chairman of the Committee noted that, in most countries of the world customers do not even know the location of the office of the insurance company - they all work through intermediaries.
"In most countries, intermediaries do not just enter into insurance contracts, and they also carry out the inspection of the subject of insurance, and they are engaged in the assessment of damage in insurance cases, and they deal with examinations. That is, the insurance market works through intermediaries. But we have not developed it yet, so each insurance company has a large team of sales departments. If the market of intermediaries is developed properly, it will reduce the costs of insurance companies and allow them to focus on their direct functions," Mammadkhanli said.
In early May, the Supervisory Board of the Azerbaijan Insurers Association (AIA) decided to establish an Insurance Intermediaries Committee under AIA.
This decision was made in the framework of the regular meeting of the Supervisory Board due to the fact that a number of insurance intermediaries have already become members of the AIA and there is a need for a structure that will deal with insurance intermediaries.
Today, at the first meeting of the Committee, it was decided to elect as Chairman Khayal Mammadkhanli, General Commercial Director of Zaman Insurance and Reinsurance Company.
In 2018, five insurance intermediaries became members of the AIA. It is expected that at the next meeting of the Supervisory Board, two new members will be admitted to the Association.
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