BAKU, Azerbaijan, February 12. The Central Bank of Azerbaijan (CBA) has published the index of complaints on CMTPL (compulsory motor third-party liability insurance) based on the results of Azerbaijan's insurance companies from February 2023 through January 2024, Trend reports.
According to the CBA, the calculation of the insurance company complaint index is made by dividing the insurer's market share on complaints by the market shares on concluded contracts.
"The index value below 1.00 indicates a high level of service and customer satisfaction with the service received, exceeding the mark of 1.00 shows a low level of service compared to other companies," the regulator reports in a statement.
The index of complaints by insurance companies is as follows:
|
Insurance Company: |
Grievance Index: |
|
JSC Xalq Insurance |
3,75 |
|
JSC Azersıgorta |
2,1 |
|
JSC Baku Insurance |
1,72 |
|
JSC AtaSıgorta |
1,18 |
|
JSC Ateshgah Insurance |
0,94 |
|
JSC Pasha Insurance |
0,59 |
|
JSC Meqa Insurance |
0,41 |
|
JSC Azerbaijan Industry Insurance |
0,39 |
|
JSC Qala Insurance |
0,35 |
CBA notes that the index of complaints on compulsory motor insurance is calculated and published to support the choice of citizens in obtaining insurance services of this type. Complaints about AZINSURANCE, Ipek Yolu Insurance, and A-Group Insurance, whose licenses were restricted due to the revocation of the permit issued for compulsory motor insurance, based on the methodology used at the international level in calculating the complaints index and the number of contracts, as well as complaints about Gunay Insurance and Nakhchivansigorta, which had their license revoked, were not taken into account in the calculation. However, the CBA keeps considering the incoming complaints in connection with the existing compulsory motor insurance contracts concluded with these companies along with the rest.
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