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    Azerbaijan to set standard prices for used car parts

    Zakir Kerimzade: At the moment, Audatex system is not profitable for insurance companies

    Baku. 21 June. REPORT.AZ/ On Azerbaijani insurance market there is still a problem with prices of used car parts.

    Report informs, Executive Director of Audatex-Azerbaijan, dealing with assessment of damage caused in an accident to vehicles Zakir Kerimzade.

    According to him, the average age of cars in Azerbaijan is 14 years old. Therefore, insurance companies are interested in using spare parts purchased on the secondary market for the repair of damaged vehicles. From this position, Audatex system is not profitable for insurance companies: "The damage is estimated based on the prices of new parts introduced into the system by encoding. The secondary market is not working on this system, besides the prices are formed on the basis of supply and demand, so it is impossible to enter specific prices in Audatex system. Sellers of used parts are not interested in working with us."

    As a result, Audatex system in Azerbaijan applied by 30%, that is, insurance companies are turning to it only in the calculation of damage to new cars.

    According to Z.Kerimzade, company introduced a number of proposals to Bureau of compulsory insurance (BOS) to solve the problem: "We offer to deduct the cost of new parts depreciation expense based on the year and mileage and in this way to establish standard prices for used parts.Insurance companies need to focus their spending on these prices,which will be shown in the system. Our goal is the use of standards in this field."

    Currently Audatex-Azerbaijan offers, in addition to the BOS, considered in the House of supervision of financial markets. In the case of a positive decision the proposal will be introduced on the market.

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