BAKU, Azerbaijan, June 21. The total number of people to be covered by extra health insurance in Türkiye will reach 700,000 by the end of 2024, Director of Sales and Marketing, Head of the Healthcare Department, and Member of the Board of AXA Türkiye Sanem Cingay Bucukoglu said, Trend reports.
She made the remark during a workshop themed “Health Insurance - Affordable for Clients, Sustainable for Providers” on the second day of the Azerbaijan International Insurance Forum 2024 (AIIF-2024) today in Baku.
Bucukoglu pointed out that the health insurance market in Türkiye shows significant growth potential.
"According to the latest data, the share of insurance companies in the country's medical expenses is only five percent. From 2013 through 2021, the health insurance market demonstrated a compound annual growth rate (CAGR) of 17 percent. In 2022, total healthcare expenditures reached 606.8 billion liras ($18.46 billion), a 71 percent increase compared to the previous year.
According to the Health Ambition Plan, the total number of people insured under supplementary health insurance in Türkiye will reach 700,000 by 2024. The plan includes three scenarios: actual, ambitious, and strategic, each showing different growth rates in the number of insured individuals," she added.
To note, the first day of the forum was held on June 20.
The first day of the forum, organized with the strategic support of the Central Bank of Azerbaijan (CBA) and the Compulsory Insurance Bureau, the Association of Insurers of Azerbaijan, and 'Xprimm' International Company, featured speeches by CBA Governor Taleh Kazimov, Agriculture Minister Majnun Mammadov, Chairman of the State Agency for Mandatory Medical Insurance Zaur Aliyev, and other government officials.
The two-day forum is also featuring panel discussions on topics relevant to the local and global insurance markets, such as motor and health insurance, as well as the role of insurance in climate risk management.
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