Chairperson: Turkic States Insurtech Summit marks a new stage in regional insurance development

New Developments in Insurance Across the Turkic World

During her recent address at the “Turkic States Insurtech Summit” in Baku, Ulviyya Jabbarova, who serves as both the Chair of the Supervisory Board of the Azerbaijan Insurers Association and Chairperson of the Turkic World Insurance Union, highlighted a transformative period for the insurance sector in Azerbaijan and the broader Turkic region.

Key Highlights from the Summit

Jabbarova emphasized that the insurance industry is entering a new developmental phase. Specifically, she pointed to increased collaboration and shared advancements among Turkic states in the field of insurtech. This indicates a growing recognition of the need for modernization and technology adoption within the industry.

The summit gathered various stakeholders, including insurance professionals and tech innovators, showcasing the region’s commitment to leveraging technological advancements to enhance insurance products and services.

Potential Impact on the Insurance Landscape

This initiative could play a significant role in improving service delivery and customer experience in the insurance sector across Turkic countries. Embracing insurtech not only aims to streamline operations but also to make insurance feel more accessible to the public. Ultimately, these developments could foster more robust market conditions and drive greater participation from both consumers and businesses.

Conclusion

Azerbaijan's leadership in this area and its emphasis on collaboration among Turkic nations might facilitate a stronger, more integrated insurance market moving forward. As the industry evolves, stakeholders will need to stay agile and responsive to these changes.

Original Source: https://en.apa.az/finance/chairperson-turkic-states-insurtech-summit-marks-a-new-stage-in-regional-insurance-development-482000