Azerbaijan Insurers Association talks new plans for 2021

Finance Materials 29 December 2020 10:06 (UTC +04:00)

BAKU, Azerbaijan, Dec. 29

By Zeyni Jafarov - Trend:

The coronavirus pandemic (COVID-19) has negatively impacted the insurance sector in various ways, Elmar Mirsalayev, Executive Director of the Azerbaijan Insurers Association (AIA), told Trend.

However, on the other hand, insurance companies have managed to create strategic action that is adequate to the changed behavior of customers, said Mirsalayev.

According to the director, almost all insurance companies have begun a phased provision of remote services to their clients: "This trend will become the main target indicator for market participants in 2021 and will contribute to the creation of an electronic contract system and full automation of processes for all insurance products.”

Mobilizing the process of collecting documents required during the event will not only increase customer satisfaction but also create the basis for balancing the workload of companies and optimizing the sequence of procedures, he added.

The AIA executive director emphasized that expectations from the next year are high, and as an upcoming priority area, as well as in order to increase confidence in this area, it is planned to implement many new projects aimed at educating the population and improving insurance products.

Earlier, Elmar Mirsalayev stated that the lack of digitalization and automation for some insurance types is one of the main reasons that impede the development of the insurance segment.

The Azerbaijan Insurers Association was registered on December 29, 2006.

At present, 21 insurance companies and one reinsurance company operate in Azerbaijan.


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