Azerbaijani insurance company eyes to increase coverage of voluntary medical insurance (Exclusive)
Baku, Azerbaijan, Aug. 30
By Anvar Mammadov – Trend:
The Azerbaijani A-Group Insurance company focuses on the expansion of its voluntary health insurance portfolio, chairman of board of the insurance company Anar Bayramov told Trend Aug. 30.
“Presently, medical insurance is one of the main engines of the Azerbaijani insurance market, along with compulsory motor third party liability insurance,” he added.
"We will implement a new product for individuals this year,” Bayramov added. “Almost 100 percent of clients of medical insurance are corporate clients. Therefore, we decided to develop a very affordable product for families - "Family Health Insurance Program". The product contains a lot of moments, which can satisfy the customer - fractional payment, free extensive medical examination, big coverage, including surgical, outpatient treatment and emergency medical care."
"We finished the first half of the year with good results,” he said. “All the forecasts that we set were overfulfilled. Presently, big growth is observed in Voluntary Liability Insurance for Inland Motor Vehicle Owners. In January-June 2018 our portfolio on Voluntary Liability Insurance for Inland Motor Vehicle Owners increased by 2.5 times compared to the same period of 2017. Big growth is also observed in medical insurance. In January-June 2018 the number of our clients increased by several thousands.”
“In the near future the company intends to develop in the field of voluntary types of insurance, in particular, to expand sales of medical insurance,” Bayramov said.
"Currently, we have a license to render services for 14 types of insurance,” he said. “We mainly intend to increase the number of individuals, who purchase health insurance, in our portfolio. We do not work with mandatory types of insurance. We still intend to focus on voluntary insurance products."
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