Azerbaijan to implement projects to improve insurance systems

Azerbaijan is set to implement projects to improve both voluntary and compulsory types of insurance, Panah Bannayev, Director of the Insurance Supervision Department at the Central Bank of Azerbaijan (CBA), said at the Turkic States InsurTech Summit 2025 in Baku, Report informs.

"Azerbaijan's insurance sector is realizing its potential. Projects will be carried out to improve both voluntary and compulsory insurance systems, expand sales channels, enhance the agricultural insurance system, and support digitalization," Bannayev noted.