BAKU, Azerbaijan, August 12. The Central Bank of Azerbaijan (CBA) has published the updated Compulsory Motor Third Party Liability (MTPL) Insurance Complaint Index based on the results of Azerbaijan's insurance companies from August 2023 through July 2024, Trend reports.
According to the CBA, the calculation of the insurance company's complaint index is carried out by dividing the insurer's market share on complaints by the market share on concluded contracts.
"The index indicator below 1.00 points to a high level of service and customer satisfaction with the service received, exceeding the mark of 1.00 indicates a low level of service compared to other companies," the regulator says.
The index of complaints by insurance companies is as follows:
|
Insurance Company: |
Grievance Index: |
|
Baku Insurance OJSC |
2.85 |
|
Xalq Insurance OJSC |
2.84 |
|
PASHA Insurance OJSC |
1.19 |
|
AtaInsurance OJSC |
1.08 |
|
Ateshgah Insurance OJSC |
0.8 |
|
Mega Insurance OJSC |
0.74 |
|
Qala Insurance OJSC |
0.43 |
|
Azerbaijan Industrial Insurance OJSC |
0.4 |
The CBA notes that the Compulsory Motor Insurance Complaints Index is calculated and published to support citizens' choice in obtaining insurance services of this type.
While calculating the Complaints Index based on the methodology used at the international level, complaints received concerning insurance companies that have a valid license for the type of compulsory motor insurance were taken into account.
However, the CBA continues to consider complaints received in connection with existing compulsory motor insurance contracts concluded with companies whose licenses have been restricted or revoked along with the rest.