The American Chamber of Commerce in Azerbaijan (AmCham Azerbaijan) and the Azerbaijan Insurers Association have discussed a strategic partnership aimed at raising insurance awareness and strengthening the country's business environment.
Report informs, citing AmCham Azerbaijan, that participants focused on identifying practical insurance challenges facing businesses, increasing private-sector involvement in regulatory processes and promoting effective insurance solutions.
The discussions identified five priority areas for future cooperation. The first involves dialogue with regulators, including jointly developing proposals to improve the insurance sector's regulatory framework and contributing to AmCham's White Paper. The second focuses on awareness and education through training seminars for member companies on risk management and the features of insurance products.
The third priority concerns agricultural insurance, including tools to minimise agricultural risks, improve access to insurance mechanisms and integrate them into investment processes. The fourth focuses on expanding the health insurance market and strengthening ties between healthcare providers, insurers and businesses.
The fifth involves assessing market needs through targeted surveys of AmCham members to identify their risk coverage requirements and difficulties encountered in claims settlement.
Participants highlighted the importance of AmCham's business platform and sectoral committees in supporting public-private partnerships. They agreed to continue consultations on implementing joint educational and expert projects.