15:46 - 28.04.2026

---

April 28, Fineko/abc.az. The Central Bank of Azerbaijan (CBA) has outlined further steps in the insurance sector in its report on fulfilment of Financial Sector Development Strategy 2024-26 for 2025, ABC.AZ informs with reference to the CBA data.

It is planned to review the parameters (redesign) of the product of individual passenger accident insurance. The document also envisages active cooperation to strengthen the culture of risk management in business processes, develop interaction with insurers and eliminate existing barriers in the field of digitalization.

At the same time, it is planned to promote InsurTech solutions (insurance technologies) through a special regulatory regime. Another goal is to consider an expanded guarantee scheme to cover types of voluntary insurance.

Central Bank's priorities also include development of a risk assessment system to protect the rights of consumers of financial services and creation of internal & external control mechanisms in connection with transition to risk-based supervision.

In addition, the CBA has included in its list of goals a study of the possibilities of introducing Cup & Cap models (determining insurance premiums based on risk assessment).