(MENAFN- Trend News Agency) BAKU, Azerbaijan, October 28.​ The Northern Cyprus insurance sector is open to international cooperation with Türkiye, the Organization of Turkic States, and European countries within the framework of international cooperation and education initiatives, Chairman of the Northern Cyprus Insurance and Reinsurance Companies Association Borte Barlasoglu said at the "Turkic States InsurTech Summit 2025" held in Baku today, Trend reports.

"The goal is to establish common platforms in terms of both legislation and technological infrastructure and to turn the Turkish Republic of Northern Cyprus into a regional digital insurance center," he explained.

The chairman noted that the Turkish Republic of Northern Cyprus considers it necessary to take a number of steps for the future of the insurance sector.

"For example, innovations such as digitalization and expansion of the centralized database, the introduction of telematics and behavior-based products, automatic damage assessment with artificial intelligence, integration of new technologies into health insurance, and expansion of mobile insurance applications are envisaged.

In addition, training programs are being prepared for insurance employees in the fields of digital transformation, current science, data analytics, and customer experience. It's also planned to organize InsurTech startup programs in cooperation with universities.

As a result, the insurance sector in the Turkish Republic of Northern Cyprus is shifting from traditional models to a modern system based on digital and analytics, becoming one of the most transparent and innovative insurance bases in the region," he emphasized.

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