"Insurance Agents and Intermediaries Forum" Held in Azerbaijan

A forum dedicated to insurance agents and intermediaries was organized in Azerbaijan. Supported strategically by the Central Bank of the Republic of Azerbaijan and through the joint collaboration of the Azerbaijan Insurers Association (AIA) and the Compulsory Insurance Bureau (CIB), the "Insurance Agents and Intermediaries Forum" took place with the participation of relevant government officials, Members of Parliament, representatives from the insurance and banking sectors, as well as insurance agents and broker companies.

The forum commenced with opening remarks by Elmar Mirsalayev, Executive Director of AIA, and Vusal Gurbanov, Director General of the Central Bank of Azerbaijan. Key speakers included Azer Badamov, Deputy Chairman of the Milli Majlis Committee for Economic Policy, Industry, and Entrepreneurship; Ulviyya Jabbarova, Chairperson of the Supervisory Board of AIA; Vusal Masiyev, Executive Director of the Compulsory Insurance Bureau; and Fuad Sadigov, Chairman of the Board of the Agrarian Insurance Fund.

Within the framework of the forum, Panah Bannayev, Director of the Insurance Activity Regulation Department of the Central Bank of Azerbaijan, conducted an informative session titled "Regulatory Frameworks and Planned Steps Regarding the Activities of Insurance Intermediaries."

Following the session, panel discussions were held involving heads of insurance companies, agents, and intermediaries on the topics: "Insurance Companies' Policy in Working with Agents and Intermediaries: New Challenges" and "Insurance Agents and Intermediaries: Current Situation, Proposals, and Expectations."

The forum also highlighted international expertise. Video presentations were showcased by Ahmet Yaşar, Deputy Chairman of the Board of the Insurance Association of Türkiye, on "Turkish Experience in Regulating the Activities of Insurance Agents and Intermediaries," and Vitaliy Veryovkin, Chairman of the Board of the Association of Insurers of Kazakhstan, on "Working with Insurance Agents and Intermediaries in the Experience of Kazakhstan."

The primary objective of the forum was to stimulate the activities of insurance intermediaries operating in the country, discuss existing challenges in the field, and identify potential solutions to address them.