Azerbaijan introduces automated insurance supervision system

The Azerbaijani Finance Ministry's State Insurance Supervision Service (SISS) has introduced an automated insurance supervision system within the "Electron Azerbaijan" state program.

The system will increase the quality and transparency of analysis and reporting procedures. The new system will allow insurers (reinsurers) to fully transfer the reporting process from the paper to the electronic form, to quickly identify and correct errors when reporting, and to identify and eliminate threats to financial stability and solvency. The system also contributes to improving reporting processing and analysis by insurance supervision agencies.


/Trend/