Azerbaijan set new priorities in insurance sector, says CBA

Despite progress in Azerbaijan's insurance sector, several important priorities and challenges still lie ahead, said Aliyar Mammadov, First Deputy Chairman of the Central Bank of Azerbaijan, at the inaugural Assembly of the Turkic World Insurance Union in Shusha, Report informs.

According to him, the main priorities include finalizing risk-based prudential regulation in line with Solvency II standards, improving the agricultural insurance system, and developing the insurance intermediation institute.

"In addition, accelerating digitalization, protecting consumer rights, and expanding voluntary insurance services in line with changing demands remain in focus," Mammadov added.