The Insurance Industry in the Azerbaijan, Key Trends and Opportunities to 2022

The Insurance Industry in the Azerbaijan, Key Trends and Opportunities to 2022

  • June 2018 •
  • 119 pages •
  • Report ID: 5473941 •
  • Format: PDF
The Insurance Industry in the Azerbaijan, Key Trends and Opportunities to 2022

Summary
This report provides detailed analysis of the market trends, drivers and challenges in the Azerbaijani insurance industry.

It provides key performance indicators such as written premium and claims during the review period (2013-2017) and forecast period (2017-2022).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Azerbaijani economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together GlobalData’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

GlobalData’s ’The Insurance Industry in the Azerbaijan, Key Trends and Opportunities to 2022’ report provides in-depth market analysis, information and insights into the Azerbaijani insurance industry, including -
- The Azerbaijani insurance industry’s growth prospects by segment and category
- A comprehensive overview of the Azerbaijani economy and demographics
- Details of the competitive landscape in the Azerbaijani insurance industry
- The various distribution channels in the Azerbaijani insurance industry
- Details of regulatory policy applicable to the Azerbaijani insurance industry
- Analysis of natural hazards in the Azerbaijani insurance industry.

Key Highlights
- According to the Financial Market Supervisory Authority of Republic of Azerbaijan (FIMSA), as of June 14, 2018, a total of 11 corporate insurance brokers were registered to operate in the insurance industry.
- Effective November 2016, the Compulsory Insurance Bureau (CIB) introduced the Motor Third Party Liability (MTPL) electronic issuance system, mandating all insurers to offer MTPL policies electronically.
- In February 2016, the government established the State Agency for Compulsory Health Care Insurance on a pilot basis, in order to introduce a universal mandatory health insurance system. In January 2018, the system was formalized and expanded to the entire country.
- In April 2018, life insurers agreed to reduce mortgage insurance tariffs and improve tariff uniformity.

Scope
- This report provides a comprehensive analysis of the insurance industry in the Azerbaijan.
- It provides historical values for the Azerbaijani insurance industry for the report’s 2013-2017 review period, and projected figures for the 2017-2022 forecast period.
- It offers a detailed analysis of the key segments in the Azerbaijani insurance industry, with market forecasts to 2022.
- It covers an exhaustive list of parameters, including written premium and claims.
- It analyzes the various distribution channels in Azerbaijan.
- It profiles the top insurance companies in Azerbaijan, and outlines the key regulations affecting them.

Reasons to buy
- Make strategic business decisions using in-depth historic and forecast market data related to the Azerbaijani insurance industry and each segment and category within it.
- Understand the demand-side dynamics, key market trends and growth opportunities in the Azerbaijani insurance industry.
- Assess the competitive dynamics in the Azerbaijani insurance industry.
- Identify the growth opportunities and market dynamics in key segments.
- Gain insights into key regulations governing the Azerbaijani insurance industry and their impact on companies and the industry’s future.
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