Azerbaijan and Estonia exchange expertise in insurance sector
Baku, October 9, AZERTAC
A meeting between representatives of the insurance sectors of Azerbaijan and Estonia was held in Baku at the initiative of the Compulsory Insurance Bureau (CIB). Representatives of the CIB, the Azerbaijan Insurers Association (AIA), the Estonian Motor Insurance Bureau, and the Estonian Insurance Association participated in the meeting.
The meeting aimed to examine existing practices in the insurance sectors of both countries, exchange expertise on methodologies in use, and discuss key issues related to sectoral development, digitalization, and the adoption of innovative solutions.
Speaking at the opening of the meeting, CIB Executive Director Vusal Masiyev highlighted the ongoing reforms in Azerbaijan's compulsory insurance sector, key development priorities, and progress in digital transformation. He noted the importance of studying international experience and fostering the exchange of expertise to advance the insurance industry.
During the meeting, AIA Chairman Abas Misgarli delivered a presentation on the current state of the Azerbaijani insurance market, key growth directions, emerging trends, and future prospects.
CIB department heads Khanim Jamalova and Islam Ismayilov delivered presentations detailing the Bureau's operations, ongoing projects, and digital transformation initiatives. Information was provided on the development of e-services, data exchange and integration with state bodies, system upgrades, the integration of artificial intelligence technologies, and other digital efforts.
Subsequently, Tuuli Parenson, chair of the boards of the Estonian Motor Insurance Bureau and the Estonian Insurance Association, along with board member Ergo Tars, presented Estonia’s experience in market operation and development, sector-specific approaches, digitalization projects, and the deployment of innovative technologies.
Following the presentations, existing practices and approaches in both countries were compared. The parties shared insights on digital transformation, data exchange, the application of AI in insurance, fraud prevention, customer service, and digital communication channels, and exchanged views on the similarities and differences in their respective approaches.
The meeting concluded with a question-and-answer session and further discussion on matters of mutual interest.
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