A new strategy will be developed for the insurance market in Azerbaijan

Azerbaijan plans to develop a new strategy that will define the next stage of development for the national insurance market.

As Report informs, this was stated by Azer Amiraslanov, Chairman of the Parliamentary Committee on Economic Policy, Industry and Entrepreneurship, speaking at the XI Azerbaijan International Insurance Forum (AIIF-2026).

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"Today, the insurance market is undoubtedly demonstrating development. However, the question of setting goals remains even more significant. There is a concrete vision, a clear approach and strategy have been developed, while the formation of a new strategy for the upcoming stage is expected. Essentially, we are talking about a roadmap for the development of the entire industry," he emphasized.

According to the parliamentarian, it is necessary to take into account the specifics of the modern insurance system, and there is also a significant need for comprehensive awareness-raising activities.

"Despite the fact that the transition to a market economy took place about 30-36 years ago, there remains an acute need for explanatory and educational work regarding the specifics of the market, as well as the importance and demand for insurance. It should be frankly acknowledged that business representatives and even ordinary citizens often regard insurance costs as unnecessary expenses. At the same time, it must be recognized that in any case, these are funds directed at risk management. Moreover, it is important to understand that insurance is not simply a choice, but an objective necessity. Expenditures and resources allocated to insurance should also be viewed as an investment in the future, in further development and ensuring stability," A. Amiraslanov emphasized.