Turkish expert: Insurance sector in Azerbaijan is developing rapidly

The insurance sector in Azerbaijan is developing rapidly, Erdem Karabostan, director of Türkiye's T Rupt Technology Inc., said at the Conference on Financial System Resilient Against Catastrophic Risks held in Baku.

"The regulatory body has a very clear road map. Within this road map, a certain policy is implemented. One of the components of this policy is to make the sector stable against catastrophic risks. This is also possible with models," he said.

"Türkiye has very bitter experiences with earthquakes. Unfortunately, the geography we share is not lucky in this regard. We want to share the innovations we have developed in this field with Azerbaijan, to add to the cooperation between the two countries in all fields, to share information and create value in the field of catastrophic disaster models," Erdem Karabostan said.