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Ulviyya Poladova

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A meeting between representatives of the insurance sectors of Azerbaijan and Estonia was held in Baku, organized by the Compulsory Insurance Bureau (CIB).

Representatives of the CIB, the Azerbaijan Insurers Association (AIA), the Estonian Motor Insurance Bureau and the Estonian Insurance Association attended the meeting.

According to the CIB, the meeting aimed to facilitate the exchange of experience and mutual learning about practices in the insurance sectors of Azerbaijan and Estonia, as well as to discuss current issues related to sector development, digitalization and the introduction of innovative solutions.

Speaking at the opening of the event, CIB Executive Director Vusal Masiyev briefed participants on reforms implemented in Azerbaijan’s compulsory insurance sector, the sector’s development priorities and ongoing efforts in digital transformation. He highlighted the importance of studying international practices and exchanging experience to support the development of the insurance sector.

During the meeting, AIA Chairman Abas Misgarli delivered a presentation on the current state of Azerbaijan’s insurance market, its main development priorities, emerging industry trends and future prospects.

CIB department heads Khanim Jamalova and Islam Ismayilov presented the bureau’s activities, ongoing projects and efforts in digital transformation. Their presentations covered the development of electronic services, data exchange and integration with government agencies, improvements to information systems, the application of artificial intelligence technologies and other digital initiatives.

Tuli Parenson, chair of the management board of the Estonian Motor Insurance Bureau and the Estonian Insurance Association, and board member Ergo Tars subsequently presented an overview of Estonia’s insurance market, its operational framework and development trends, approaches adopted across the sector, digitalization projects and experience in implementing innovative technologies.

Following the presentations, participants held comparative discussions on existing practices and approaches in the insurance sectors of Azerbaijan and Estonia. The parties exchanged experience in digital transformation, data sharing, the application of artificial intelligence in insurance, insurance fraud prevention, customer service and digital communication channels. They also discussed similarities and differences between the approaches adopted in the two countries.

The meeting concluded with discussions on issues of mutual interest and a question-and-answer session.