Relevance of ICT in insurance

Azerbaijan's insurance market is preparing for mass deployment of information technology (IT).

According to the head of Azerbaijan Insurers Association (AIA), Orkhan Bayramov, they’ve reached an agreement with foreign partners and the Ministry of Finance to hold a thematic conference on the development and large scale use of this segment in the local context next year. This is the first in a series of thematic conferences, the format of which is still being discussed. The theme of ICT development is becoming more urgent because insurers are now seeking to increase sales of insurance products through the Internet.

According to the head of the Association, in addition to the said project there is another - in 2015, AIA, together with several other organizations, is planning to launch the creation of the Center for Financial Education. "It will be a three-year project aimed at improving financial literacy, not only actuaries, accountants, but also of the population," he said.

AIA was founded in December 2006. The main goal is ensuring the development of the insurance market of Azerbaijan, as well as the performance of the insurance companies with one voice in the discussion of the problems and prospects of the segment. --17D-

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