BAKU, Azerbaijan, June 25. Türkiye is ready to
share its insurance experience with Azerbaijan, Deputy Secretary
General of Turkish Insurance Association, Atilla Oksay, told
Trend on the
sidelines of the 11th Azerbaijan International Insurance Forum.
According to him, the insurance sector must adapt to global
technological changes and develop products that meet new risks and
customer demands.
He noted that the rapid development of artificial intelligence,
big data, and blockchain technologies also affects the operating
principles of the insurance sector.
"Insurance has to adapt to the changes taking place in the
world. Today, artificial intelligence, big data, and blockchain
technologies have become part of our lives. Therefore, we need to
reconsider both our business principles and our products. For
example, currently there are transport insurance products for cars,
but in the future driverless vehicles will be widespread. It is
important to develop new insurance solutions in line with these
changes," he emphasized.
According to Oksay, insurance companies should study the needs
of customers more closely and shape their products in accordance
with these requirements.
"We should listen more to the insured persons, better understand
what they want and need. We should also develop our products in
accordance with these requirements," he added.
The Turkish representative noted that the experience gained by
his country in the field of insurance could be useful for
Azerbaijan and other Turkic states.
"There are a number of mechanisms that have been successfully
implemented in Türkiye for many years. For example, the Natural
Disaster Insurance Institution provides earthquake insurance for
residential buildings. Within the framework of the Agricultural
Insurance System, the state supports part of the insurance premiums
and crop production, livestock farming, and even fisheries are
covered by insurance coverage," he said.
He also emphasized that the Insurance Information Center
operating in Türkiye is an interesting example of experience for
the countries of the region.
"All insurance contracts and information on insurance events in
Türkiye are collected in a single database and made available to
insurance companies. We are ready to share the experience of this
model," Oksay pointed out.
The deputy secretary general said that the establishment of the
Turkic World Insurance Union also serves to expand cooperation in
this direction.
"The summit of the Turkic World Insurance Association will be
held in Istanbul in October. I believe that, as in the European
Union, cooperation opportunities can be expanded among the Turkic
states in the development of products, educational programs,
formation of risk pools, and other areas. We are always ready to
share our experience with Azerbaijan, Kazakhstan, Kyrgyzstan,
Uzbekistan, and Turkmenistan," he emphasized.
Touching on the importance of the forum, Oksay noted that the
event has become an important platform for getting to know the
insurance markets of the Turkic states more closely.
"Within the framework of the forum, we obtained more extensive
information about the insurance sectors of the Turkic states. For
example, there were presentations on digital healthcare solutions
in the panel discussions, and we saw important developments in this
area both in the world and in the Turkic states. It's gratifying to
observe that this forum, which has been held for the 11th time, is
growing and developing year after year," he concluded.
