The Insurance Sector Development Strategy of the Compulsory Insurance Bureau (CIB) for 2025-2027 has been approved in Azerbaijan. It was developed to ensure sustainable, innovative and transparent development of the compulsory insurance sector in Azerbaijan, Trend writes with reference to the CIB.

It is noted that the document reflects the main goals of the CIB for 2025-2027 and the measures to develop the compulsory insurance sector.

The priorities include creation of a Unified Data Center, integration of data technologies and artificial intelligence in the strategic decision-making process, stimulation of innovative activities in the insurance sector, as well as formation of a sustainable and secure IT infrastructure.

The Strategy also includes among its main goals creation of a system that ensures effective risk management in accordance with modern management principles, minimizing the use of paper-based media to accelerate digitalization, the source writes.