Azerbaijan Moves Toward Introduction Of Open Insurance Model By 2030

2026-05-26 10:05:14

(MENAFN- Trend News Agency) BAKU, Azerbaijan, May 26. Azerbaijan will carry out preparatory work to introduce an open insurance model and establish a legal framework in this area by 2030, Trend reports.

This is reflected in the“State Program on expanding financial inclusion for 2027-2030” approved by the President of the Republic of Azerbaijan, Ilham Aliyev.

According to the State Program, the implementation of measures to introduce an open insurance model is planned for 2027–2029. It is also planned to involve the Azerbaijan Insurers Association (AIA) in the process during the project's implementation.

The document notes that, in the initial stage, the readiness of financial institutions to implement the model will be assessed. In the next stage, the necessary legal framework for the implementation of the open insurance model will be established.

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