BAKU, Azerbaijan, May 26. Azerbaijan will carry
out preparatory work to introduce an open insurance model and
establish a legal framework in this area by 2030, Trend reports.


This is reflected in the “State Program on expanding financial
inclusion for 2027-2030” approved by the President of the Republic
of Azerbaijan, Ilham Aliyev.


According to the State Program, the implementation of measures
to introduce an open insurance model is planned for 2027–2029. It
is also planned to involve the Azerbaijan Insurers Association
(AIA) in the process during the project’s implementation.


The document notes that, in the initial stage, the readiness of
financial institutions to implement the model will be assessed. In
the next stage, the necessary legal framework for the
implementation of the open insurance model will be established.







The State Program designates the Central Bank of Azerbaijan
(CBA) as the primary implementing body for the measures.


According to the expected final results, it is planned that at
least 50% of insurance companies operating in the country will
adopt the open insurance model under the program.