Vusal Gurbanov: AI-based control models to become new insurance standard

AI-based control models will shape new insurance standards in the near future, CEO of Central Bank of Azerbaijan (CBA) Vusal Gurbanov said at the Insurtech-2025 Turkic States Insurance Technology Summit, Report informs.

He stated that automated assessments based on data engineering enable insurers to provide more accurate and flexible services, increase customer loyalty, and reduce operating costs.

Gurbanov noted that CBA is paying special attention to the implementation of insurtech solutions, digital transformation, and creating conditions for adapting international trends to local realities.

He also emphasized that cooperation between Turkic countries in the startup sector and the creation of a unified information platform will open a new page on the region's insurtech map.

"The regulator highly values ​​the role of insurance companies in this matter, as it is interested in the implementation of technological innovations in Azerbaijan. The Compulsory Insurance Bureau, with the support of the CBA, as the guarantor of the compulsory insurance system, is also carrying out important work on the digitalization of insurance services. We are proud to be at the center of this collaboration, sharing our experience in digital insurance with our fraternal countries and shaping the future of InsurTech in the region. I am confident that this event will open up opportunities for practical partnerships, joint projects, and new ideas," Gurbanov added.