“The 'InsurTech' ecosystem is being formed in the Turkic world, and Azerbaijan is at the center of this process,” said Elmar Mirsalayev, executive director of the Azerbaijan Insurers Association (AIA), speaking at the Turkic States InsurTech Summit, APA-Economics reports.
He noted that the digital transformation of the insurance sector is no longer just about keeping up with the trend, but is also considered a key element of economic sustainability and an innovative financial system.
According to Elmar Mirsalayev, in recent years, Azerbaijan and Türkiye have made progress in insurance technologies, and discussions are underway with regional countries - Kazakhstan, Uzbekistan, and Kyrgyzstan - to create a joint InsurTech platform.
The AIA official emphasized that a five-stage roadmap is being prepared to strategically implement the digitalization process. This roadmap includes infrastructure modernization, the application of artificial intelligence and data analytics, digitalization of customer experience, harmonization of the legal framework, and knowledge exchange between Turkic states.
"If we can combine these opportunities, the Turkic world can become a global center for insurance technologies in the next 5 years," Elmar Mirsalayev added.
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